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RCI - IMPORTANT info regarding class action lawsuit

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Tuesday, 27 October 2009 14:42 Written by Dave

My name is Dave and I am a timeshare owner who resides in Virginia. I am an avid member of the Timeshare Users Group (TUG) where I go by the USERNAME: Goofyhobbie.

I have been working closely as a volunteer with fellow TUGgers Jennie and Susan2 on a project that many consider to be vitally important to all timeshare owners, and indeed the future of timesharing.

If you have been an RCI Weeks member at any time between January 1, 2000 and August 31, 2009 (even if you are not a member now), you are automatically a member of a class action lawsuit pending in the U. S. Federal Court in Trenton, New Jersey.

RCI is accused of removing highly desirable weeks that were deposited by members into the Spacebank®, and RENTING them to the general public, often times at a price that is lower than what the owner of the timeshare pays in annual maintenance fees. RCI admits to doing this but claims it has the right to do so.

The attorneys who started the lawsuit in 2006 have made an agreement with RCI's attorneys to settle the case, but it must be approved by Judge Gerald Sheridan at a "Fairness" Hearing to be held on November 30, 2009.

The proposed settlement is considered by many RCI Weeks members to be very unfair.

If you are a member of the class and do not like the proposed settlement, you are urged to send an objection letter to the Court. It can be as simple as one sentence e.g. “I object to the terms of the proposed settlement”. It must be postmarked by November 20, 2009.

For information about how to file an objection go to: http://tinyurl.com/Informational-Instructions (Informational Instruction # 6)

Hundreds of timeshare owners have already filed objections. If a large number of objection letters are received by the Court, we are hopeful that it will lead to a better settlement.

You also have the right to separately file a claim for ONE of five special one-time benefits being offered in the Settlement. You can file a claim on-line at: http://www.weeksprogramsettlement.com/ Or you can do so by mail no later than November 20, 2009.

You may apply for the special benefit whether or not you choose to file an objection to the settlement. It is not an either/or situation. If you are no longer an RCI member, you may claim a $15 payment. Current members have other options.

For additional information about this lawsuit, there is a long discussion going on at the TUG ”Exchanging" bulletin board/Forum:
http://tinyurl.com/TUGbbs-Forum-Exchanging

Best regards,

P.S. Please consider passing this information on to any other timeshare owners you know.

Many TUG members are printing out the Form Letter and instructions at http://tinyurl.com/Informational-Instructions and offering it to people they meet while on timeshare vacations

__________________
Dave

All my posts are based on my personal experience or should be considered my personal opinion about the subject being discussed.

Click Here To Post Your Own Complaint

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Comments

0 # Joe 2010-04-17 02:18

I bought an RCI Vacation Ownership Contract last week. A couple days ago it occurred to me that what I had purchased was esentially "RCI Bucks."
RCI Bucks are a proprietary currency, the exchange value of which is determined soley by RCI. What that means is, a rental unit that costs me 50,000 points (RCI Bucks) this year may be upgraded to a 70,000 point unit next year at the discretion of RCI. I would receive no benefit from the upgrade, only a higher charge for my next use of the same unit.
So yesterday, I sent the cancellation letter to the marketing branch. I understand the the concept of owning a share of a bricks and mortar structure that might increase in value over time. I'm having a hard time figuring out how I benefit greatly from own :no-comments: ing points that can only be used at the company store, that will NEVER increase in value, and that, in fact, will buy less and less as inflation increases the price of the rental real estate.

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0 # lawsuit — Alexis 2010-08-19 11:07

Hi,

I want to be apart of this lawsuit as I was scammed into buying a calypso cay timeshare 3 years ago which I have not yet been able to use? Please contact me so I can find out more information.

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