A few days ago, the Resort Development Organisation (RDO) posted the following news piece; ‘Eze Group directors ordered to pay back over £400,000’.
It’s true that Eze Group have been wrong in their ways in the past and are now paying the price for it behind bars. But what about Groups that have done much worse that aren’t behind bars, what about Silverpoint Vacations?
It seems rather convenient that Silverpoint as an ex RDO member along with Silverpoint‘s CEO Mark Cushway being an ex board member of the RDO, seem to have “avoided” any negative publicity being published on the RDO website. One would question why?, considering they don’t owe a mere £400,000 but have run up a debt 70 TIMES that amount! Canarian Legal Alliance (CLA), specialists in timeshare law, count their current claims in the courts against Silverpoint Vacations to exceed the amount of €10 million, and that’s one single office, what about all the other timeshare exit & claims companies out there too? M1 Legal of Spain and Pinder Reaux from the UK have hundreds of cases going through the courts in excess of £5 million. Silverpoint are €28 MILLION in debt and this figure may yet still be increasing, who knows how much of that debt is owed to ex customers!
On the Resort Development Organisation website they state that:
“RDO (Resort Development Organisation) is the trade association for vacation ownership across Europe …
RDO members represent the best in European vacation ownership and are committed to high service standards and integrity. They are bound by a code of conduct and an independent arbitration scheme, providing levels of protection beyond those required by law.”
This so called ‘code of conduct’ must be a very flexible scheme, since their current members include the likes of Anfi Sales S.L., Diamond Resorts and Club La Costa World Resorts and Hotels, three timeshare groups that have a bad reputation for mis-selling!
The vast majority of clients of these timeshare resorts and groups have been left with financial loans through companies such as Barclays, Hitachi and GE money. In many cases, it was the timeshare salespeople who facilitated these loans although they were not regulated by the Office of Fair Trading/Financial Conduct Authority to carry on regulated activities such as credit brokering.
This means that there would not have been any type of credit check to see if such a loan was a viable option for these clients. Even in the case that a resort agreed to cancel a contract, the client would be left with a substantial bank loan which many could not afford to repay.
The truth is that the RDO may act as the angel on the resorts’ shoulder but remember that they get paid to do so. They don’t care about how the timeshare bodies treat consumers and they do not have timeshare owners’ best interests at the front of their minds. The resorts pay the RDO to make them look good. Even now, after Silverpoint Vacations have gone into liquidation, the RDO still hasn’t posted anything on this. No comment on the groups liquidation, suspicious transfer of funds or the money they never pay back to people who have sued and obtained a favourable judgement against the group.
This dismissal of current news is a prime example of how the RDO and the timeshare industry bodies try to misinform and pull the wool over the eyes of the consumers and authorities.
Inside Timeshare –
https://insidetimeshare.com/el-diario-report-once-again-on-silverpoint/
El Diario –
Our report on this –
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk