We have said it again and again that woes of timeshare ownership sometimes begin with less-than-honest business practices from developers. While some developers are honest, the story below about Worldex seems to paint a much different picture for this new company formed in 2008.
The Consumers Association of Singapore has already received 137 customer complaints in less than 2 years for this company. According to reports, huge red flags went up when reports began coming in of clients having to wait from 30-60 years before the company paid out on units they were "purchasing" from clients.
We at Immediate Acquisitions LLC see this practice often with resorts outside of the united states. In an effort to sell a new unit, many of these timeshare developers will promise to take an old unit in on trade. Every week we meet individuals that are left with both units (the one they just purchased and the old one the developer supposedly took in on trade). This occurs because the developers do not want the old units. They just want a new sale. Unless this purchase is backed up with signed paperwork, many of our clients have no recourse.
If this has happened to your family you are not alone. Contact Immediate Acquisitions today and a friendly representative can walk you thouroughly through your options. Rest assured, you will not pay any upfront fees. We are happy to offer our advice free of charge, and if you decide to work with us we will be happy to handle the process for you.
The moral of the story, get everything in writing and tell your friends and family that everyone needs to stop buying timeshares that will likely never be sellable.
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