Apologies in advance for the lack of info, I'm still piecing everything together myself and will update as I hear more. I'm trying to figure out the best way to go forward and help them get out of this scam before it's too late. My GF's parents (recently retired) have had a timeshare since before I met them, and went away to the DR using it this past week. While there her father managed to get himself signed up for another timeshare. The details I know are:
Lifestyle Holiday Vacation Resort in Puerto Plata is the company. He didn't put any money down directly, but it sounds like the company opened 2 credit cards or some lines of credit in his name to fund a down payment. It sounds like the salesperson explained how to consolidate those into a lower interest loan against his home equity in the future, I don't think he really understood what any of it meant or what was happening. They were told it would be $14k, but by the end of the sales pitch total was $47k and they were "bought out" of their old timeshare with a $15k "discount" so the total ended at $32k. They somehow ended up signing papers on Tuesday 2/26.
They just arrived back in the US tonight and I have them coming over tomorrow to look at their contract information. I'm unsure of where the company is based but assume the DR laws will apply if the contract was signed there? Assuming there is no cooling off period laid out in the contract itself, are they SOL? Is there any potential path to go by disputing the opening of those credit cards as fraudulent? Any advice from anyone who has dealt with this would be very very much appreciated!
Submitted March 02, 2019 at 10:55PM by Emericanmilitia https://ift.tt/2XzUEP9
