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Re: Class Action Against Diamond Resorts? (by Israel M. S.):

Hello,

I am reading all the class actions and lawsuits against Diamond Resorts and I would like to know If I can participate after they charged my credit cards without my authorization for a timeshare of a friend of mine that does not live in the USA.

irenep59 wrote:

According to a timeshare insider, Diamond currently has the highest loan loss provision of all major timeshare companies. The company is private, so earnings information is not public but they have recently been downgraded to CCC - one letter before D Default. They look like a house of cards. When they were public Roddy Boyd of SIRF said their foreclosure period is the longest. If it were shorter (Wyndham 60/90 days) rather than Diamond's 180 days, the foreclosure rate would be even higher. You can't keep up-selling until Platinum members are forced into insolvency as a viable marketing strategy. We have had 86 complaints from Diamond Platinum members of which 45 complaints concern maintenance fee relief programs that do not exist. People already paying $8600 a year in maintenance fees told buying more points would offer a program to be relieved of fees. 25% of the 86 are veterans, 65% seniors over 60. It's shameful. I have so had it. A recent complaint, they were told they could buy CLARITY points to pay maintenance fees at $.30 per point. CLARITY is Diamond's program promising RESPECT for the customer, clear, concise, accountable and transparent information. This program was in response to the AZ AG receiving over 900 complaints and issuing an Assurance of Discontinuance in 2017. Only Platinum members can pay MF at $.04 a point so $2000 towards an $8600 bill with no points to travel.

Diamond Resorts International Inc. Downgraded To ‘CCC+’ On Very High Anticipated Leverage, Outlook Negative

The negative outlook on Diamond reflects our expectation for minimal cash flow generation and very high leverage in 2019. The outlook also incorporates our belief that the company is vulnerable to possible future operating missteps or an unexpected downturn in the economy over the next two years, which may render its capital structure unsustainable despite our assessment of adequate liquidity.

https://www.ademcetinkaya.com/2019/04/diamond-resorts-international-inc.html?fbclid=IwAR0N7Sc0Dld_LFlK8F2sv0-t4gIzAr-yd5HngEyWb6JLnVcW_OA0hfvSPPU