A new proposed class-action lawsuit has been filed against Reed Hein and Associates (also known as “Timeshare Exit Team”).
The lawsuit, filed on behalf of Minnesota timeshare owners, and others similarly situated, claims that Reed Hein and Associates has “defrauded tens of thousands of customers out of tens of millions of dollars.”
According to the lawsuit, which can be read here, “The only legally valid ‘exits’ Reed Hein customers ever achieve are exits they could, and often do, achieve on their own.” The suit continues, stating, “Using deceptive statements and false advertisements, [Reed Hein and Associates] solicits potential customers into meetings with ‘client advisors,’ who uniformly advise clients to spend tens of thousands of dollars for services Reed Hein does not know how to provide.”
Diamond Resorts alerts all members to be aware of fraudulent practices of so-called timeshare “exit” companies, including manipulation and false promises made by these companies to consumers.
Owners’ payments to Timeshare Exit Team are put at risk by clauses meant to undermine the company’s “Money-Back Guarantee,” as cited in the lawsuit: “The fine print of the Money-Back Guarantee has varied over time, but in every version Reed Hein attaches numerous caveats and qualifications that allow the company to avoid paying a refund at its discretion, which Reed Hein exercises in almost any circumstance to deny payment.”