As timeshare ownership is getting more popular vacationing option every year, there are also increasing complaints regarding timeshares. For some owners, they just try to get out of their timeshares because of the disadvantages that they are complaining. But recently, the Consumers Association of Singapore (CASE) red-flagged Worldex Pte Ltd as the organization received 137 complaints against the timeshare company’s doubtful service.
According to the list of complaints, Worldex’s questionable practices include purchasing timeshare contracts from clients who have to wait 30 to 60 years to receive their payout plus profit. Customers were also have to pay hundreds of dollars in consultation fees when they attend presentation’s at the Worldex office, which are completely separate from the membership fee.
Meanwhile, others have complained of the company’s supposedly inexpensive holiday offers. Customers are asked to invest S$10,000 to avail of Worldex’s steeply discounted rates for luxury holidays and 5-star accommodations. However, the rates turned out to be not as cheap as promised, and there were still many lower-priced alternatives.
Such complaints have prompted CASE to release a consumer advisory against Worldex. Mr. Seng Choon, executive director of CASE, has already warned that they will pursue legal action should the organization receive more complaints.
On the other hand, Choon warned timeshare investors to be wary of businesses offering to buy their timeshare memberships.
Such companies have consistently been the main source of complaints received by the organization. In the past year alone, it received more than 2,500 complaints. Moreover, more timeshare companies in Singapore are luring customers with offers of buying their timeshare contracts for a substantial fee. Such cases have gone up tenfold since they began surfacing in 2003, and now, they make up more than 25% of timeshare complaints.
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