Points World

[MikeandMave]

We are new members to this forum - wish we discovered it years ago!

Browsing we read some misgivings about Point World ( I dont think they exist now) but we paid them to put our week at Camern House into the Points system. We paid £895 in 2004. We have an RCI certificate and have not experienced any problems with exchanging.
Question - because PointsWorld were less than legitimate - does that have any implications for the legitimacy of our points?

Second question - we were wondering - given the premier position of our 2 bed lodge in the red zone period - what is the best way of selling?

Sorry if this is the wrong section to ask these - guidance wecome
Thanks
Mike

[Sue B]

HI Mike

Points World was an affiliated vendor and your original contract was with them. However, you are still a legitimate points owner, otherwise you would not be able to use the points system. When points world was dissafiliated, RCI made sure owners were able to continue in the points system. Your week at Cameron House will still be ceded into the points system and you receive your annual points allocation I presume. Did you not get any letters at the time?

If you are thinking of selling, use reputable resale companies and not companies that phone and offer you fantastic figures for your timeshare. It will, more than likely, be a big con and there is a lot of it happening. Don't go with resale companies that want large amounts of admin fees up front - you won't see it again, nor will they find a buyer.

Have a look at different timeshare forum. Timesharetalk - www.timesharetalk.co.uk (information about the ones to avoid and the scams). Timeshare Consumers Association - www.timeshare.org.uk (with a list of resale companies).

Some people have used Ebay to try to sell or advertise on timeshare forums.

You may need to uncede your week from the points system before you can sell, so you need to check on this. You do have to give 12 months notice to RCI about taking a week out of the system. Not all resale companies will be ready to sell the week whilst still ceded into the points system.

Hope this is of use.

Sue

[davidjulia]

Hi Sue
I also was conned into ceding through Points World who stated they were employed by RCI and providing me with a nice RCI headed certificate. I have since surrendered the expensive pure pints that I was given as an incentive to the ceding process(didnt want them at the time and they cost a bomb in laintenance fees).
Q. Now the company is finished and RCI are prepared to honour the points ( I am now only left with those attached to my ceded weeks) does it mean that I can only trade with RCI or can I trade via other exchange companies?
Q. Would I have to uncede my weeks to trade with other groups?

[Sue B]

Hi David and Julia

The points are part of the RCI Points system so you can only use them within the RCI Points exchange system.

If you were to uncede your weeks from RCi then you would be able to use other exchange companies, exchanging on a week for week basis, or use the timeshare week(s) yourself.

Sue

[davidjulia]

Gosh Sue, that was a quick reply! and also the answer I expected.

However it does raise another thought about the Points World scenario.
RCI are clear in saying that they do not buy, sell or own and are just an exchange system. So why was it such a problem that Points World went bust after selling us the points for the RCI group? surely once we had purchased the points they were no more or less than coinage to use as we required within the structure of the RCI rules.and the management fees paid on them were paid not to PW but to RCI.
I have got rid of my pure points now so am not too bothered but It has always puzzled me.

[Sue B]

The points you bought were underpinned by actual timeshare weeks (inventory) that Pointsworld would have put into the points system (might have been some of their canal boat weeks). Pointsworld then had an amount of points allocated for them to sell to members of the public. Once Pointsworld went out of business as well as their canalboats, there was no corresponding inventory to underpin those points.

When points members relinquish their points back to RCI, it means there is inventory in the system that is no longer needed. Instead of giving this back to the resort(s) that had originally deposited weeks with RCI Points, they used this inventory to underpin the points sold by Pointsworld and allowed members to carry on in the points system.

RCI collects the management fees in for pure points, but this is passed on to the various vendor resorts to pay for the maintenance on these underpinning weeks.

It must be a very complicated process, and I hope I have explained it properly.

Sue

[davidjulia]

That was a very clear and concise explanation and thank you Sue.
It is a question that Im sure other people are asking and I hope they find this thread. Thankfully I have off-loaded my pure points.
Many thanks
julia