DVC Lobbying for Debt-Cancellation Policies

Disney Vacation Club is joining with other timeshare developers in lobbying Florida lawmakers for the ability to sell customers debt-cancellation policies which would relieve them of timeshare liabilities in the event of a job loss. 

The Orlando Sentinel cites both Disney and Westgate Resorts among those supporting the measure.  If approved, Florida timeshare developers would be permitted to market debt-cancellation policies to customers.  In return for a monthly fee, buyers would be able to return the timeshare ownership interest while under dire financial straits. 

Disney's time-share division, Disney Vacation Club, said it will consider selling debt-cancellation policies should the Legislature permit it. Disney is currently selling interests in three time-share resorts at Disney World.  "Having more options to potentially offer members is a good thing in any economy," Vacation Club spokeswoman Rena Langley said.

The measure may benefit developers' sales by offering the comfort of the debt cancellation provisions to those who may be concerned over the large financial commitment.  California and Nevada are among states which already allow developers to sell such insurance.  

Although no plan has yet been introduced, supporters are still hoping to push the measure through during the current legislative session.

Link:  Orlando Sentinel

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