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Re: RCI Class Action Lawsuit (by David W.):
If You Are No Longer an RCI Weeks Member - What Can You Do?
You may or may not get an E-Mail or postcard from the Class Action Administrator and even if you do your take on what is going on may be wrong.
The lawyers in the case before the Federal Court have reached a settlement among themselves; but a Fairness hearing is still pending.
If you do not want to opt-out of the "class," you can put in a claim for one of the relatively insignificant benefits being offered to "class" members.
But, you can also "object" to the Settlement as proposed. There is a growing ground swell of objectors and a possibility that the current Settlement may not be accepted by the Judge hearing the case.
To anyone who comes here to "vent" or seek guidance.
If you have stopped your membership with RCI since 2000 or are contemplating ending your membership you must have had a reason for leaving the fold.
People who were members of the RCI Weeks Exchange Program at any time from January 1, 2000 through August 31, 2009 are members of the settlement "class."
YOU STILL HAVE A DOG IN THE FIGHT!
NOTE: If you are or were a member of the RCI Points Exchange Program, but you were not also a member of the RCI Weeks Exchange Program at any time from January 1, 2000 through August 31, 2009, you are not a member of the Settlement Class.
Those of us who strongly feel that this Settlement proposal is wrong and that RCI should be held accountable need help to get enough OBJECTORS!
We need well over a thousand members of the class to object in writing to the settlement.
If you are a former Member of RCI WEEKS or about to become a former Member of RCI WEEKS you should also consider objecting to the possibility that the Plaintiffs attorneys may be granted up to $4,000,000.00 in legal fees.
If YOU think that it is fair for RCI to receive a COURT's stamp of approval to RENT deposits made by MEMBERS OF RCI, then so be it!
If the Settlement is approved (and it is likely to be approved UNLESS enough members of the "class" OBJECT), RCI will be able to point to the Court Approved Settlement of This Class Action and say:
"For two years: You as an EXCHANGER can deposit your week more than 12 months before the check-in date and RCI will leave your week for other Exchangers for up to 31 days from the date of deposit.
After 31 Days, including the date of deposit, RCI is free to use the UNIT for any purpose and without limitation for RENTAL."
"If you as an EXCHANGER deposit less than 12 months before check-in, RCI is free to use the UNIT for Exchange or for RENTAL if there is no Exchange Request for your WEEK on the date of deposit."
What happens after the TWO YEAR period has expired?
I will leave it up to your imagination!
On average, when you did deposit a UNIT with RCI how many months before check-in did you make your deposit?
When you begin your search for a Vacation how far in advance on average do you set-up the search?
If this Settlement is approved the door is WIDE open for any EXCHANGE company to take your deposits and OPENLY RENT the UNITS.
Redweek Members can come here to rent of do an Exchange; but where will unsophisticated Timeshare EXCHANGERS go to make their exchanges?
Folks, we are on the edge of a slippery slope. How long before we completely lose the ability to Exchange with a major Exchange company? __________________ Dave
All my posts are based on my personal experience or should be considered my personal opinion about the subject being discussed.