Report: #474950

Complaint Review: CFI Resorts Management Inc., Westgate Resorts

Submitted: Thursday, July 30, 2009
Last Posting: Monday, September 07, 2009
Reported By: — Mayberry Hawaii

CFI Resorts Management Inc., Westgate Resorts

2801 Old Winter Garden Road Ocoee Florida 34761 U.S.A.

Phone: 800-925-9999
Web:
Category: Resorts

CFI Resorts Management Inc., Westgate Resorts, Planet Hollywood, Las Vegas, Week 52 Club fraud. Ocoee Florida

1Author 0Consumer 0Employee/Owner

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November, 2008, I was sold a 4 bedroom week 52 (New Year week) timeshare in Planet Hollywood Towers, las Vegas. The price was well in excess of 100k.

A Sales Mgr. and Sales Exec. sold me this property based on the exceptional investment value. I was repeatedly told the 4000 square foot unit would rent for 15k per nite; that the unit would be rented by April, 2009, and I would have a rental check in my possession by April, 2009 (15k times 7 nites).

The presentation was sealed by both agents telling me about the "Week 52 Club" website, created by the Sales Mgr. This website was created for the exclusive use of week 52 owners. I was told, Westgate staff would handle all aspects of the rental process; from initial contact, transportation, entertainment tickets, butler service, etc.

To make a long story short;
1) no rental check ever arrived in April, 2009,

2) both Sales Mgr.,and Sales Exec. have been terminated by Westgate Resorts,
3) the 'Week 52 Club' website has "...been shut down by Westgate Resorts Legal Dept....",
and lastly, I am now saddled with a crippling monthly payment, at 19% interest, which will, unless this fraud is adjuctated, cause the loss of my home.

I have contacted Westgate Resorts on several occasions, to settle this matter. My calls are either ignored, or I am told Westgate Resorts has never heard of the 'Week 52 Club', and has no rental programs for its clients.

At the date of this writing, the 'Week 52 Club' website is still on the net, but its pages are not accessible.
I have e-mails dated from time of purchase, 11/08 to 04/09, documenting the entire case.

Clearly, the sales presentation was designed to secure a sale, no matter what deception, or fraudulent claim is employed.

I agreed to this purchase with the expectation of future income, and the asurance I was dealing with an organization with integrity.

Westgate Resorts committed fraud, and has created severe financial, and emotional stress for myself, and probably many others.

The e-mails indicate several addresses, presumably other week 52 club members; possibly suggesting a class-action remediation.

Bill
Mayberry, Hawaii
U.S.A.

This report was posted on Ripoff Report on 7/30/2009 11:35:54 AM and is a permanent record located here: http://www.ripoffreport.com/resorts/cfi-resorts-manageme/cfi-resorts-management-inc-w-a9p92.htm.

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Stop paying, they will not do anything to you

AUTHOR: StopScammingPeople - Brooklyn (USA)

SUBMITTED: Monday, September 07, 2009

Hi,

We used to own a westgate timeshare, what a mistake, we donated it but ended up losing 16,000 in the process, not much compared to what you lost.

If you stop paying Westgate will not sure you, they will NOT destroy your credit. I wish I knew this before I paid it off. Here is what will happen,

1. Once you stop paying, you will get threatening phone calls, ignore them.

2. You will start getting letters and more calls from what looks like a "collection company" it's actually just a department in westgate.

3. They will threaten to ruin your credit (they will NOT) and to take you to court (they will not).

4. They will send you tons of letters, ignore them at first. Again the collection company is just a department at Westgate

5. They will try to work out a payment plan, DO NOT do it! Don't pay a dime, nada, not one cent.

6. They will finally offer you a deed in leiu of foreclosure, they will mail it to you, sign it and send it back.

7. They will ask you for a "processing fee" of 500 or 700, DON'T send anything, just sign the papers and return.

8. you will get a comfirmation from Westgate stating that you are no longer the owner.

Why would they do this you ask? Well it's simple, Westgate provides it's inhouse "financing" through what we think is Westgate well it's not. The financing comes from multiple "investors" and "banks." In order for Westgate to keep providing these high interest loans they have to be able to get the banks and investors to keep believing Westgate is a great business. Of course they have to show them financial statements and they DO NOT want to show forclosures on these statements. If they do, the banks and investors will not longer support westgate and where will they get all this money to give these poor victims loans.

Please email me if you have any questions,

TyJilly@yahoo.com

I hope this helps.