Timeshare customers getting refunds

SAN DIEGO – Update: The attorney for SD TLC Resorts, Allan Cate, told Team 10 they are working to get customers a refund. He showed Team 10 the cashiers check for Leana Eickholt’s refund.

Cate contacted all the customers that told Team 10 they are still waiting for a refund or their timeshare. He expects to have their issues resolved in two to three weeks. 

He said the company had an issue with a product line that made it difficult to transfer the time share units. He said the problem is resolved and they are working to make sure all the clients are satisfied.

Upset customers told Team 10 they are out thousands of dollars after signing up for a timeshare.

They said the owner gives them every excuse not to pay them back, the company’s website shows it’s “under maintenance” and that when you call you get a voicemail.

Leana Eickholt and her husband had big plans after a presentation by SD TLC Resorts LLC in Oceanside.

“It was really affordable,” said Eickholt. “We really liked the guys in the office.”

Eickholt said her salesman was a man named Hahn. They paid $4,000 for a timeshare. 

“We could go to over 4,000 locations around the world,” said Eickholt.

They were supposed to receive the timeshare in 90 days.

It has been 10 months. They said no one will take their calls or give them answers.

“Knowing that they were going to have my money, that Hahn was going to get his commission from my money made me sick,” said Eickholt.

Another customer, Candace Lawson, told Team 10 she paid $5,000 for her timeshare.

Lawson sent Team 10 her documents and emails with owner Bob Climer. She said she paid them and noticed an extra charge on her credit card for $194.

She said Climer promised to credit her account, which never happened. In the emails, Climer told Lawson her file was missing. Then, he said someone died and he could not do payroll.

Lawson is sick of the excuses. She just wants a refund.

A Team 10 crew went to the address listed for SD TLC Resorts in Oceanside and told a woman in the back of the office they were looking for Climer.

She handed Team 10 the phone. A person named Hahn said there was an issue with the distributor and that Team 10 should talk to Climer.

The Better Business Bureau of San Diego, Orange and Imperial Counties is concerned as well. They dropped SD TLC Resorts because of the unanswered complaints.

“They are spending thousands of dollars for a timeshare and then they can’t get the phones answered, they can’t get a response and they don’t get the product,” said BBB President and CEO Sheryl Reichert.

Team 10 is still waiting for a call back from Climer.

Article source: http://www.10news.com/news/customers-say-they-are-out-thousands-from-timeshare-company-08262014

Timeshare customers getting refunds

SAN DIEGO – Update: The attorney for SD TLC Resorts, Allan Cate, told Team 10 they are working to get customers a refund. He showed Team 10 the cashiers check for Leana Eickholt’s refund.

Cate contacted all the customers that told Team 10 they are still waiting for a refund or their timeshare. He expects to have their issues resolved in two to three weeks. 

He said the company had an issue with a product line that made it difficult to transfer the time share units. He said the problem is resolved and they are working to make sure all the clients are satisfied.

Upset customers told Team 10 they are out thousands of dollars after signing up for a timeshare.

They said the owner gives them every excuse not to pay them back, the company’s website shows it’s “under maintenance” and that when you call you get a voicemail.

Leana Eickholt and her husband had big plans after a presentation by SD TLC Resorts LLC in Oceanside.

“It was really affordable,” said Eickholt. “We really liked the guys in the office.”

Eickholt said her salesman was a man named Hahn. They paid $4,000 for a timeshare. 

“We could go to over 4,000 locations around the world,” said Eickholt.

They were supposed to receive the timeshare in 90 days.

It has been 10 months. They said no one will take their calls or give them answers.

“Knowing that they were going to have my money, that Hahn was going to get his commission from my money made me sick,” said Eickholt.

Another customer, Candace Lawson, told Team 10 she paid $5,000 for her timeshare.

Lawson sent Team 10 her documents and emails with owner Bob Climer. She said she paid them and noticed an extra charge on her credit card for $194.

She said Climer promised to credit her account, which never happened. In the emails, Climer told Lawson her file was missing. Then, he said someone died and he could not do payroll.

Lawson is sick of the excuses. She just wants a refund.

A Team 10 crew went to the address listed for SD TLC Resorts in Oceanside and told a woman in the back of the office they were looking for Climer.

She handed Team 10 the phone. A person named Hahn said there was an issue with the distributor and that Team 10 should talk to Climer.

The Better Business Bureau of San Diego, Orange and Imperial Counties is concerned as well. They dropped SD TLC Resorts because of the unanswered complaints.

“They are spending thousands of dollars for a timeshare and then they can’t get the phones answered, they can’t get a response and they don’t get the product,” said BBB President and CEO Sheryl Reichert.

Team 10 is still waiting for a call back from Climer.

Article source: http://www.10news.com/news/customers-say-they-are-out-thousands-from-timeshare-company-08262014

Timeshare customers getting refunds

SAN DIEGO – Update: The attorney for SD TLC Resorts, Allan Cate, told Team 10 they are working to get customers a refund. He showed Team 10 the cashiers check for Leana Eickholt’s refund.

Cate contacted all the customers that told Team 10 they are still waiting for a refund or their timeshare. He expects to have their issues resolved in two to three weeks. 

He said the company had an issue with a product line that made it difficult to transfer the time share units. He said the problem is resolved and they are working to make sure all the clients are satisfied.

Upset customers told Team 10 they are out thousands of dollars after signing up for a timeshare.

They said the owner gives them every excuse not to pay them back, the company’s website shows it’s “under maintenance” and that when you call you get a voicemail.

Leana Eickholt and her husband had big plans after a presentation by SD TLC Resorts LLC in Oceanside.

“It was really affordable,” said Eickholt. “We really liked the guys in the office.”

Eickholt said her salesman was a man named Hahn. They paid $4,000 for a timeshare. 

“We could go to over 4,000 locations around the world,” said Eickholt.

They were supposed to receive the timeshare in 90 days.

It has been 10 months. They said no one will take their calls or give them answers.

“Knowing that they were going to have my money, that Hahn was going to get his commission from my money made me sick,” said Eickholt.

Another customer, Candace Lawson, told Team 10 she paid $5,000 for her timeshare.

Lawson sent Team 10 her documents and emails with owner Bob Climer. She said she paid them and noticed an extra charge on her credit card for $194.

She said Climer promised to credit her account, which never happened. In the emails, Climer told Lawson her file was missing. Then, he said someone died and he could not do payroll.

Lawson is sick of the excuses. She just wants a refund.

A Team 10 crew went to the address listed for SD TLC Resorts in Oceanside and told a woman in the back of the office they were looking for Climer.

She handed Team 10 the phone. A person named Hahn said there was an issue with the distributor and that Team 10 should talk to Climer.

The Better Business Bureau of San Diego, Orange and Imperial Counties is concerned as well. They dropped SD TLC Resorts because of the unanswered complaints.

“They are spending thousands of dollars for a timeshare and then they can’t get the phones answered, they can’t get a response and they don’t get the product,” said BBB President and CEO Sheryl Reichert.

Team 10 is still waiting for a call back from Climer.

Article source: http://www.10news.com/news/customers-say-they-are-out-thousands-from-timeshare-company-08262014

Timeshare customers getting refunds

SAN DIEGO – Update: The attorney for SD TLC Resorts, Allan Cate, told Team 10 they are working to get customers a refund. He showed Team 10 the cashiers check for Leana Eickholt’s refund.

Cate contacted all the customers that told Team 10 they are still waiting for a refund or their timeshare. He expects to have their issues resolved in two to three weeks. 

He said the company had an issue with a product line that made it difficult to transfer the time share units. He said the problem is resolved and they are working to make sure all the clients are satisfied.

Upset customers told Team 10 they are out thousands of dollars after signing up for a timeshare.

They said the owner gives them every excuse not to pay them back, the company’s website shows it’s “under maintenance” and that when you call you get a voicemail.

Leana Eickholt and her husband had big plans after a presentation by SD TLC Resorts LLC in Oceanside.

“It was really affordable,” said Eickholt. “We really liked the guys in the office.”

Eickholt said her salesman was a man named Hahn. They paid $4,000 for a timeshare. 

“We could go to over 4,000 locations around the world,” said Eickholt.

They were supposed to receive the timeshare in 90 days.

It has been 10 months. They said no one will take their calls or give them answers.

“Knowing that they were going to have my money, that Hahn was going to get his commission from my money made me sick,” said Eickholt.

Another customer, Candace Lawson, told Team 10 she paid $5,000 for her timeshare.

Lawson sent Team 10 her documents and emails with owner Bob Climer. She said she paid them and noticed an extra charge on her credit card for $194.

She said Climer promised to credit her account, which never happened. In the emails, Climer told Lawson her file was missing. Then, he said someone died and he could not do payroll.

Lawson is sick of the excuses. She just wants a refund.

A Team 10 crew went to the address listed for SD TLC Resorts in Oceanside and told a woman in the back of the office they were looking for Climer.

She handed Team 10 the phone. A person named Hahn said there was an issue with the distributor and that Team 10 should talk to Climer.

The Better Business Bureau of San Diego, Orange and Imperial Counties is concerned as well. They dropped SD TLC Resorts because of the unanswered complaints.

“They are spending thousands of dollars for a timeshare and then they can’t get the phones answered, they can’t get a response and they don’t get the product,” said BBB President and CEO Sheryl Reichert.

Team 10 is still waiting for a call back from Climer.

Article source: http://www.10news.com/news/customers-say-they-are-out-thousands-from-timeshare-company-08262014

Timeshare customers getting refunds

SAN DIEGO – Update: The attorney for SD TLC Resorts, Allan Cate, told Team 10 they are working to get customers a refund. He showed Team 10 the cashiers check for Leana Eickholt’s refund.

Cate contacted all the customers that told Team 10 they are still waiting for a refund or their timeshare. He expects to have their issues resolved in two to three weeks. 

He said the company had an issue with a product line that made it difficult to transfer the time share units. He said the problem is resolved and they are working to make sure all the clients are satisfied.

Upset customers told Team 10 they are out thousands of dollars after signing up for a timeshare.

They said the owner gives them every excuse not to pay them back, the company’s website shows it’s “under maintenance” and that when you call you get a voicemail.

Leana Eickholt and her husband had big plans after a presentation by SD TLC Resorts LLC in Oceanside.

“It was really affordable,” said Eickholt. “We really liked the guys in the office.”

Eickholt said her salesman was a man named Hahn. They paid $4,000 for a timeshare. 

“We could go to over 4,000 locations around the world,” said Eickholt.

They were supposed to receive the timeshare in 90 days.

It has been 10 months. They said no one will take their calls or give them answers.

“Knowing that they were going to have my money, that Hahn was going to get his commission from my money made me sick,” said Eickholt.

Another customer, Candace Lawson, told Team 10 she paid $5,000 for her timeshare.

Lawson sent Team 10 her documents and emails with owner Bob Climer. She said she paid them and noticed an extra charge on her credit card for $194.

She said Climer promised to credit her account, which never happened. In the emails, Climer told Lawson her file was missing. Then, he said someone died and he could not do payroll.

Lawson is sick of the excuses. She just wants a refund.

A Team 10 crew went to the address listed for SD TLC Resorts in Oceanside and told a woman in the back of the office they were looking for Climer.

She handed Team 10 the phone. A person named Hahn said there was an issue with the distributor and that Team 10 should talk to Climer.

The Better Business Bureau of San Diego, Orange and Imperial Counties is concerned as well. They dropped SD TLC Resorts because of the unanswered complaints.

“They are spending thousands of dollars for a timeshare and then they can’t get the phones answered, they can’t get a response and they don’t get the product,” said BBB President and CEO Sheryl Reichert.

Team 10 is still waiting for a call back from Climer.

Article source: http://www.10news.com/news/customers-say-they-are-out-thousands-from-timeshare-company-08262014

Timeshare customers getting refunds

SAN DIEGO – Update: The attorney for SD TLC Resorts, Allan Cate, told Team 10 they are working to get customers a refund. He showed Team 10 the cashiers check for Leana Eickholt’s refund.

Cate contacted all the customers that told Team 10 they are still waiting for a refund or their timeshare. He expects to have their issues resolved in two to three weeks. 

He said the company had an issue with a product line that made it difficult to transfer the time share units. He said the problem is resolved and they are working to make sure all the clients are satisfied.

Upset customers told Team 10 they are out thousands of dollars after signing up for a timeshare.

They said the owner gives them every excuse not to pay them back, the company’s website shows it’s “under maintenance” and that when you call you get a voicemail.

Leana Eickholt and her husband had big plans after a presentation by SD TLC Resorts LLC in Oceanside.

“It was really affordable,” said Eickholt. “We really liked the guys in the office.”

Eickholt said her salesman was a man named Hahn. They paid $4,000 for a timeshare. 

“We could go to over 4,000 locations around the world,” said Eickholt.

They were supposed to receive the timeshare in 90 days.

It has been 10 months. They said no one will take their calls or give them answers.

“Knowing that they were going to have my money, that Hahn was going to get his commission from my money made me sick,” said Eickholt.

Another customer, Candace Lawson, told Team 10 she paid $5,000 for her timeshare.

Lawson sent Team 10 her documents and emails with owner Bob Climer. She said she paid them and noticed an extra charge on her credit card for $194.

She said Climer promised to credit her account, which never happened. In the emails, Climer told Lawson her file was missing. Then, he said someone died and he could not do payroll.

Lawson is sick of the excuses. She just wants a refund.

A Team 10 crew went to the address listed for SD TLC Resorts in Oceanside and told a woman in the back of the office they were looking for Climer.

She handed Team 10 the phone. A person named Hahn said there was an issue with the distributor and that Team 10 should talk to Climer.

The Better Business Bureau of San Diego, Orange and Imperial Counties is concerned as well. They dropped SD TLC Resorts because of the unanswered complaints.

“They are spending thousands of dollars for a timeshare and then they can’t get the phones answered, they can’t get a response and they don’t get the product,” said BBB President and CEO Sheryl Reichert.

Team 10 is still waiting for a call back from Climer.

Article source: http://www.10news.com/news/customers-say-they-are-out-thousands-from-timeshare-company-08262014

Timeshare customers getting refunds

SAN DIEGO – Update: The attorney for SD TLC Resorts, Allan Cate, told Team 10 they are working to get customers a refund. He showed Team 10 the cashiers check for Leana Eickholt’s refund.

Cate contacted all the customers that told Team 10 they are still waiting for a refund or their timeshare. He expects to have their issues resolved in two to three weeks. 

He said the company had an issue with a product line that made it difficult to transfer the time share units. He said the problem is resolved and they are working to make sure all the clients are satisfied.

Upset customers told Team 10 they are out thousands of dollars after signing up for a timeshare.

They said the owner gives them every excuse not to pay them back, the company’s website shows it’s “under maintenance” and that when you call you get a voicemail.

Leana Eickholt and her husband had big plans after a presentation by SD TLC Resorts LLC in Oceanside.

“It was really affordable,” said Eickholt. “We really liked the guys in the office.”

Eickholt said her salesman was a man named Hahn. They paid $4,000 for a timeshare. 

“We could go to over 4,000 locations around the world,” said Eickholt.

They were supposed to receive the timeshare in 90 days.

It has been 10 months. They said no one will take their calls or give them answers.

“Knowing that they were going to have my money, that Hahn was going to get his commission from my money made me sick,” said Eickholt.

Another customer, Candace Lawson, told Team 10 she paid $5,000 for her timeshare.

Lawson sent Team 10 her documents and emails with owner Bob Climer. She said she paid them and noticed an extra charge on her credit card for $194.

She said Climer promised to credit her account, which never happened. In the emails, Climer told Lawson her file was missing. Then, he said someone died and he could not do payroll.

Lawson is sick of the excuses. She just wants a refund.

A Team 10 crew went to the address listed for SD TLC Resorts in Oceanside and told a woman in the back of the office they were looking for Climer.

She handed Team 10 the phone. A person named Hahn said there was an issue with the distributor and that Team 10 should talk to Climer.

The Better Business Bureau of San Diego, Orange and Imperial Counties is concerned as well. They dropped SD TLC Resorts because of the unanswered complaints.

“They are spending thousands of dollars for a timeshare and then they can’t get the phones answered, they can’t get a response and they don’t get the product,” said BBB President and CEO Sheryl Reichert.

Team 10 is still waiting for a call back from Climer.

Article source: http://www.10news.com/news/customers-say-they-are-out-thousands-from-timeshare-company-08262014

Fitch Rates Orange Lake Timeshare Trust 2014-A

CHICAGO–(BUSINESS WIRE)–

Fitch Ratings assigns the following ratings to Orange Lake Timeshare Trust 2014-A:

–$123,638,000 class A asset-backed notes ‘Asf’; Outlook Stable;

–$25,119,000 class B asset-backed notes ‘BBBsf’; Outlook Stable.

KEY RATING DRIVERS

Strong Borrower Credit Quality: The WA FICO score of OLTT 2014-A is 732, down from 735 in 2012-A, but up from 652 in 2006-A. However, the 2014-A pool contains 8.5% loans with a FICO score less than 650, which were excluded from 2012-A.The 2014-A pool also has 19 months of seasoning and an upgrade concentration of 53%, the highest to date.

Improved Performance: OLCC delinquency and default performance exhibited material increases during the most recent recession. However, notable improvement can be seen in the 2010-2012 vintages. In deriving its cumulative gross default (CGD) proxy of 15.75%, Fitch focused on extrapolations of the 2005-2011 vintages.

Sufficient CE Structure: Initial hard credit enhancement (CE) is expected to be 26.70% and 11.30% for the class A and B notes, respectively. CE is composed of overcollateralization (OC), a reserve account, subordination, and excess spread.

Quality of Origination/Servicing: OLCC has demonstrated sufficient abilities as an originator and servicer of timeshare loans. While the resort footprint has grown in recent years, OLCC’s managed portfolio, as well as 2014-A, remains heavily concentrated in their primary Orlando, FL resort.

Legal Structure Integrity: The legal structure of the transaction should provide that a bankruptcy of OLCC and WRF would not impair the timeliness of payments on the securities.

RATING SENSITIVITIES

Unanticipated increases in the frequency of defaults could produce cumulative gross default (CGD) levels higher than the base case and would likely result in declines of credit enhancement and remaining default coverage levels available to the notes. Additionally, unanticipated increases in prepayment activity could also result in a decline in coverage. Decreased default coverage may make certain note ratings susceptible to potential negative rating actions, depending on the extent of the decline in coverage.

Thus, Fitch conducts sensitivity analysis stressing both a transaction’s initial base case CGD and prepayment assumptions by 1.5x and 2.0x and examining the rating implications on all classes of issued notes. The 1.5x and 2.0x increases of the base case CGD and prepayment assumptions represent moderate and severe stresses, respectively, and are intended to provide an indication of the rating sensitivity of notes to unexpected deterioration of a trust’s performance.

Fitch’s analysis found that the notes display some sensitivity to increased defaults and prepayments. Under Fitch’s moderate (1.5x base case default and prepayment) stresses, the class A notes could experience a downgrade of one to two notches, while the rating on the class B notes would not be expected to be impacted. Under Fitch’s severe (2.0x base case default and prepayment) stresses, the class A notes could experience a downgrade of one rating category, while the class B notes could experience a downgrade of up to two rating categories.

Key Rating Drivers and Rating Sensitivities are further described in the presale report dated July 30, 2014. Fitch’s analysis of the Representations and Warranties (RW) of this transaction can be found in ‘Orange Lake Timeshare Trust 2014-A – Appendix’. These RWs are compared to those of typical RW for the asset class as detailed in the special report ‘Representations, Warranties, and Enforcement Mechanisms in Global Structured Finance Transactions’ dated April 17, 2012.

The presale report is available to all investors on Fitch’s website at ‘www.fitchratings.com‘. For more information about Fitch’s comprehensive subscription service FitchResearch, which includes all presale reports, surveillance, and credit reports on more than 20 asset classes, contact product sales at +1-212-908-0800 or at ‘webmaster@fitchratings.com’.

Additional information is available at ‘www.fitchratings.com‘.

Applicable Criteria and Related Research:

–’Orange Lake Timeshare Trust 2014-A’ dated July 30, 2014;

–’Orange Lake Timeshare Trust 2014-A –Appendix’ dated July 30, 2014;

–’Criteria for Rating U.S. Timeshare Loan ABS’ dated June 9, 2014;

–’Global Structured Finance Rating Criteria’ dated May 20, 2014;

–’Representations, Warranties, and Enforcement Mechanisms in Global Structured Finance Transactions’ dated April 17, 2012.

Applicable Criteria and Related Research:

Orange Lake Timeshare Trust 2014-A (US ABS)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=753508

Orange Lake Timeshare Trust 2014-A — Appendix

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=753910

Criteria for Rating U.S. Timeshare Loan ABS

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=749780

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=754389

Representations, Warranties, and Enforcement Mechanisms in Global Structured Finance Transactions

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=676496

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=850474

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY’S PUBLIC WEBSITE ‘WWW.FITCHRATINGS.COM‘. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH’S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE ‘CODE OF CONDUCT’ SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Article source: http://finance.yahoo.com/news/fitch-rates-orange-lake-timeshare-175500932.html

Charleston man pleads guilty to timeshare scheme



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