I bought a membership for two weeks annual time share at the Holiday Inn’s Acapulco Plaza, for 25 years. Under the agreement I was to pay maintenance fees for 25 years and pay off the purchase loan in a timely manner, which I did. In return for this the Plaza Holiday Club Ltd. bought me two $14,900 flexible Group insurance annuity policies, and presented me with participation certificates and contracts. The certificates will mature and be redeemable Jan 1, 2019 and I want to know where & how to redeem them as the organization Plaza Holiday Club Ltd. Used to purchase the annuities Associated Administrative Services no longer exists and no one notified us where Capital Associated Service Inc.’s annuities funds have gone, so we can’t get a current value statement or prepare for redemption | Despite 25 phone calls and numerous emails to various employees and constant promises to call me back with the information no one calls. Nor do they respond to emails. Now they refuse to talk to me pretending the cannot hear me due to a bad line or understand menthe never respond to emails | I became concerned last year when I attempted to call them as they were scamming me trying to collect my maintenance fee, which were supposed to have ceased March 29, 2012. I wanted to ensure I had met my obligations, as failure to do so voids the annuities. So I asked to get clarification my contractual obligations had been complete. They said I had a thirty-year contract, which was a lie, and asked me to send a copy of my original contact, which stipulated the term, which I did and they somehow lost it, so I resent the email & after a year and requests in writing and by phone they have not acknowledged my request for info. it appears this is a conspiracy to rip off people like me conditioned to paying annual maintenance fees, which are to be paid for fear of the loss of the annuities. This is outright fraud. It also leads one to believe the must be trying to obfuscated the fact they have embezzled or misappropriated our funds. I failed to mention under the terms of the annuity failure to turn in the certificates within a year of redemption date means the money reverts to the time share company. We can’t redeem if we don’t have anywhere to redeem them. What an unscrupulous racket. | I am appalled Holiday Inn is associated with this. Especially as they tout their business ethics and trustworthiness. Their name was one of the key reasons we went ahead with our membership in the first instance.
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This complaint and/or review was posted on Defaulters.com on 12:37 pm, February 26, 2021 (CST) and is a permanent record located at: https://www.defaulters.com/scam/holiday-inn-resort-acapulco/.
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