NOTICE OF BUSINESS CLOSURE
With regret, On February 10, 2009 Timeshare Independence LLC has ceased operations and is preparing for bankruptcy protection pursuant to Chapter 7. The Law firm who is handling the bankruptcy is The Law Offices of Kent L. Ivey, 64 N. Pecos Road, Suite 800, Henderson, NV. 89074 kent@ivey4law.com, www.ivey4law.com
There are several reasons for the Company’s decision, including:
--Many timeshares, which were transferred to our company, had financial issues including, but not limited to, overdue maintenance fees and real estate taxes. The resort(s) involved with those timeshares required all fees and charges to be current before they would allow a transfer to take place. For hundreds of these cases, Timeshare Independence paid the money owed to the resort to facilitate the transfer.
--In October ’08, a major timeshare developer reneged on over $220,000 owed to Timeshare Independence. This was a huge blow to our cash flow and nearly crippled us. That same month, the economic downturn and credit crunch devastated the timeshare industry.
--Shortly thereafter, my business partner John Wells resigned from the company. Additional funding was sought to get through the recession which was affecting our business. No banks were lending money to small businesses like ours, and all attempts to raise money failed.
I tell you these reasons because some of your deserve more than just an apology. If I would have known all these events would take place in our economy, I never would have started the company. During the bankruptcy proceedings I will do everything possible to assist you. I always strove to provide customers with the service I would expect.
Sincerely,
Tony Altgilbers
Owner, Timeshare Independence LLC
To check the status of your title transfer, please submit your information and you will be notified in writing.