Posted on Nov 29, 2022
Army veteran suing timeshare company over predatory lending practices
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"The Federal Trade Commission has joined a lawsuit filed last year by a former soldier and his wife, alleging that the timeshare company they bought into did not follow specific federal regulations that govern lending to members of the military, according to a Tuesday release from the FTC."
Army veteran suing timeshare company over predatory lending practices
Posted from armytimes.com
Lawsuit
Vacation
Posted >1 y ago
Responses: 1
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LTC Eugene Chu
..."The Louises allege that Bluegreen violated both of those provisions, making their timeshare contract null and void. But a judge who ruled on their September 2021 filing found that they couldn’t prove they had been injured by the contract, and that it wasn’t clear that the MLA violations would have made a difference in their decision to purchase the timeshare.
“The district court’s holding, if affirmed, would substantially curtail enforcement of the MLA. It would, in effect, bar service members from bringing suit unless they can show that the alleged violation of the MLA was material to their decision to take out the loan at issue,” according to the brief.
The Louises are seeking to have their contract voided and the payments they’ve made refunded.
“Emmanuel and Tamarah Louis allege that they were sold an illegal financial product — a product that Congress determined poses such an acute risk to American service members, to their financial wellbeing, to their morale, to the military’s operational readiness, and to the country’s national defense that it should be illegal to sell the product to members of the Armed Services,” according to the brief."
..."The Louises allege that Bluegreen violated both of those provisions, making their timeshare contract null and void. But a judge who ruled on their September 2021 filing found that they couldn’t prove they had been injured by the contract, and that it wasn’t clear that the MLA violations would have made a difference in their decision to purchase the timeshare.
“The district court’s holding, if affirmed, would substantially curtail enforcement of the MLA. It would, in effect, bar service members from bringing suit unless they can show that the alleged violation of the MLA was material to their decision to take out the loan at issue,” according to the brief.
The Louises are seeking to have their contract voided and the payments they’ve made refunded.
“Emmanuel and Tamarah Louis allege that they were sold an illegal financial product — a product that Congress determined poses such an acute risk to American service members, to their financial wellbeing, to their morale, to the military’s operational readiness, and to the country’s national defense that it should be illegal to sell the product to members of the Armed Services,” according to the brief."
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