In response to several inquiries Advantage Vacation has received recently, following you will find an update regarding the RCI Class Action Settlement suit.
While RCI denies it did anything wrong, a Settlement has been reached in the class action lawsuit that claims that RCI, LLC violated certain consumer protection and other laws by renting timeshare inventory deposited by members of the RCI Points Exchange Program.
Let’s review what has happened so far and what happens next:
Who was included? Those who were included had to be residents of the U.S. or its territories and a member of the RCI Points Exchange Program on or before April 25, 2012. Those people that received a postcard from RCI regarding the class action law suit were automatically included in the Settlement unless they excluded themselves.
What was the settlement payment to be? If the Settlement is approved, Settlement Class Members who submitted their Claim Forms prior to August 24, 2012, may receive a payment. Current members may receive $12 and former members may receive $10.
How do I opt out of the Settlement if I have changed my mind? If you do not want to be legally bound by the Settlement, you must exclude yourself in writing. The exclusion deadline is October 2, 2012.
What else should I know about the Settlement?
You will not be able to sue RCI for any claim relating to the issues in the lawsuit if you decide to stay in the Settlement.
If you stay in the Settlement, you may object to all or any part of it by October 2, 2012.
On November 1, 2012 at 10:00am, a Court hearing will be held to consider whether to approve the Settlement and a request for attorneys’ fee, costs and expenses in the amount of $835,000.
The Court has appointed attorneys to represent the Class.
You may hire your own attorney at your own expense.
If you have any questions or would like additional detailed information, you can visit the web site www.pointsprogramsettlement.com, call 866.647.5645 or write to: Settlement Administrator, PO Box 2662, Faribault, MN 55021-9662.
In summary, qualifying timeshare owners are only being offered approximately a dollar a month (equal to one year of ownership) for their perceived troubles, which equates to only $12. However, because of the class action lawsuit RCI members may expect to have more transparency in the future on both the RCI member’s website and in the RCI terms section of their member printed materials.
If you are interested in buying a timeshare resale or want to sell your timeshare, please contact the licensed timeshare resale professionals at Advantage Vacation. You are assured of prompt, courteous and professional service (before, during and after the sale) with no upfront fees – ever. Our business has been built on relationships and we pride ourselves on providing excellent service to our clients.
Advantage Vacation is a member of the American Resort Development Association (ARDA) and offers the best buys on the timeshare re sales market today. We never charge an upfront fee for clients who want to sell a timeshare and only receive a commission, paid from escrow, when the transaction is closed.
We are leaders in the timeshare resale secondary market, have been in the timeshare industry for over 30 years and are Accredited Members of the BBB with an A+ Rating.
Advantage Vacation is using Twitter and Facebook to help educate people on the changes in the timeshare industry along with current timeshare tips, up to date timeshare news and timeshare FAQ’s.
We hope you will follow us and our blog, Timeshare Blogging by Advantage Vacation for the latest news and reviews. If our site does not answer your question or questions, please email us your question and we will answer it and add it to our library. Make your voice heard – what questions do you have?
At Advantage Vacation you can be assured you are working with professionals who believe that honesty and integrity are the most important aspects of the business they are in – timeshare resales. Our business has been built on relationships and we pride ourselves on providing excellent service to our clients.
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