Image Credit: lakeokanaganrentals.com
Picture this, as a Timeshare owner you receive a letter stating that the resort “is no longer sustainable as a timeshare community.” The letter goes to say that maintenance fees could more than double! Your only option, to buy out your timeshare or move to another building for a limited time period.
This is the scenario for timeshare owners at the Lake Okanagan Resort. Timeshare owners are reporting a severe decline in service and amenities each year. With a deadline of January 15, 2019, timeshare owners of the Lake Okanagan Resort that chose not to pay the excessive fees may now face debt collection agencies.
You decide, is it fair for timeshare associations to double maintenance fees? Read more about the “Changes happening at Lake Okanagan Resort” by Rob Munro, Infotel News here: https://infotel.ca/newsitem/changes-happening-at-lake-okanagan-resort/it58924
If you are a timeshare owner and have questions about fees and debt collection, Finn Law Group can help.
Why does hiring a lawyer help? The Fair Debt Collection Practices Act (or FDCPA) stipulates that third party debt collectors are legally prohibited from directly contacting a debtor (such as a timeshare owner withholding a resort payment) if that debtor has retained an attorney. Instead, the debt collector must contact your attorney; they may only continue to contact you, the consumer, if granted permission, or if the “attorney fails to respond to the debt collector within a reasonable period of time,” as the Consumer Financial Protection Bureau (CFPB) explains.
This protection is a huge asset for a number of reasons! First, it can go a long way toward ensuring your peace of mind and financial stability in the short term. Even more importantly? Historically, outside debt collectors have been valuable tools for resorts and developers; if these agents are repeatedly hamstrung by the lawyer’s representation and return the file back to the resort, the consumer suddenly has the benefit of leverage, softening up the resort for an attorney to begin a walkaway negotiation.