Timeshare arrangements promise affordable vacations and hassle-free ownership, but for some, they can turn into a nightmare. Coral Matcham, a 66-year-old woman from Tasmania, has found herself trapped in a timeshare scheme with Classic Holidays, with no contract, no product disclosure statement (PDS), and no clear way to exit. This article explores Coral’s struggle, the inconsistencies and lack of documentation from Classic Holidays, and the broader issues within the timeshare industry.
The Endless Loop of Inquiries
In July 2019, Coral and her daughter Cass began requesting the contract and PDS for their timeshare at Tasmania’s Shearwater Country Club and Resort. Classic Holidays, the timeshare manager since 2015, pointed them towards the resort, while the resort claimed Classic Holidays held the documents. After over a year of back-and-forth, the surfaced documentation was inconclusive. Despite Coral’s continuous requests, neither Classic Holidays nor the resort could produce a valid contract or PDS. Coral, who can no longer afford the timeshare, paid a recent bill under threat of debt collection. Since its inception in 1992, the annual fee has skyrocketed from $153.33 to $912, a nearly 495% increase, far outpacing inflation. Without clear documentation, Coral is supposedly committed to the scheme until 2084, accumulating significant financial burdens for her and her daughter.
Classic Holidays’ Inconsistencies
Classic Holidays has been inconsistent about the remaining duration of Coral’s timeshare. In July 2019, they claimed there were 67 years left; in July 2020, they said 64 years to Coral and “around 60” to Cass. Despite Coral and Wayne Matcham’s lack of a contract or PDS when they joined in 1996, Classic Holidays maintains that Coral is obligated to continue paying.
Classic Holidays has been unable to provide clear, consistent information regarding the timeshare’s terms. When Coral contacted the Tasmania titles office, she was informed that no certificate of title existed under her name. Documents provided by Classic Holidays lacked clarity on the duration of the arrangement or the possibility of exiting. Despite the legal complexity of the timeshare scheme, Coral received no adequate explanation or support from Classic Holidays.
A legal expert reviewing the documentation found significant issues with the scheme’s structure. The documents lacked clear details on the duration and exit options, making it difficult for Coral to understand her commitments. Even if the documents had been provided initially, their complexity would have made it challenging for an average vacationer to grasp the full implications.
The Hardship Relief Debate
Cass argued for hardship relief due to Coral’s age and financial situation, exacerbated by the COVID-19 crisis. However, Classic Holidays offered no such relief, stating that legacy titles like Coral’s were not eligible. Despite proposed regulatory changes by the Australian Securities and Investments Commission (ASIC) to introduce hardship relief, Coral and Cass received no support. In a final attempt to exit the timeshare, Cass offered Classic Holidays $5000 to settle the matter. The company declined, pushing instead for Coral to join their Aspire program, a costly points-based scheme. Classic Holidays claimed they only managed the scheme and lacked the authority to allow exits, despite handling all billing and correspondence.
Conclusion
Coral Matcham’s ordeal highlights significant issues within the timeshare industry, including the lack of proper documentation, the financial burden on members, and the difficulty in exiting schemes. Classic Holidays‘ inconsistent information and refusal to provide hardship relief exacerbate these problems. Coral’s story underscores the need for stricter regulations and greater transparency in the timeshare industry to protect consumers from similar predicaments.
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