Expert: Jason Shear, Esq. - 10/15/2008

Question
Hi~  I had asked the question below and Michael Brotherton replied (see Answer below).  I wanted to post a follow-up, but it states he is maxed out and to pick another expert.

To answer Michael's question, we live in MD, however, the timeshare we purchased was in DE.  I am not sure if that changes anything.  In addition, once I sent the letter to them 10-15 years ago, we have never heard another word from them.  We assumed they accepted our returned deed and took ownership of our week.

QUESTION~

My husband and I bought a timeshare back in the late 70's in Delaware for $5,000
cash.  We bought a week in mid-March under their promise that we could bank it
and use it to vacation wherever or whenever we wanted.  


After the first year, we tried to go to Florida.  I gave them 5 different dates
and was told they were all not available.  We paid the maintenance fees probably
the first several years.  In the early 1980's I sent them a letter stating that
we did not want the property any longer and I may have even returned the deed to
them stating that I was giving the property back to them and they could re-sell
it or do whatever they wanted with it.  We have not heard anything since then
until last week.  We received a notice in the mail from Continental Central
Credit in California stating that we owe $23,276.83 in principal + $446.40
interest + $7,758.17 collection fee for a total of $31,481.40!!  


I recently checked our credit report and did not see this on there.  Also, can they come after us for this money after all of these years.  
Since we hadn't heard from them in almost 20 years, I assumed they had re-sold
our week.  I mean we paid $5,000 for something that we never were able to use
because they lied to us.  Thank you.

ANSWER~

Let me make sure I understand. The state you lived in at the time is Delaware? If that is the case then this is an outdated debt and the Statute of Limitations has passed. Write them a letter advising them to "cease and desist" all contact. Send the letter by certified mail, return receipt requested. Inform them that any further contact and you will sue them for violating of the Fair Debt Collection Practices Act and file a complaint with the FTC. This should do the trick. If they continue to contact you file suit.  

Answer
Carol:

Sorry to hear about your situation with this timeshare company.
To answer your question, you living in MD as opposed to DE would not make a difference.  Both states have a 3 year SOL on written contracts.  

This is just another collection agency purchasing old worthless debt which was probably bought for pennies on the dollar, in hopes of collecting the full amount or close to the full amount, thus turning their investment into a huge windfall by preying on unsuspecting consumers.  It looks like they violated the FDCPA numerous times.  A collection fee of $7,758.17?  Ask Continental Central Credit where in the original Timeshare contract allowed for that amount, give me a break!  Follow the good advice Mr. Brotherton gave you and as he says if they continue to contact you file suit under the FDCPA.  

Hope this was helpful.  If require anything further please do not hesitate to call or write.

Jason Shear
Attorney at Law
716-566-8988