Re:The FTC wants to ban those tough-to-cancel gym and cable ...
by Plasmoid on Thursday March 23, 2023 @02:28PM
(#35279193)
Why can't you create a corporation, have the corp buy it from you for $1, and then go bankrupt in a month or three?
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Re:The FTC wants to ban those tough-to-cancel gym and cable ...
by janj on Thursday March 23, 2023 @03:52PM
(#35280393)
Could this work? It could potentially help a very large number of people get out of these scams. Seems so obvious now that you point it out I imagine someone must've thought of this before.
Re:The FTC wants to ban those tough-to-cancel gym and cable ...
by avidiax on Thursday March 23, 2023 @05:27PM
(#35281536)
I imagine the timeshare company has right of first refusal for transfers, or will be adding that to their contracts as soon as this is a thing.
Now, is it legal? Maybe, maybe not. But they will pretend it is until you take them to court, and they'll quickly settle if you agree not to tell anyone else.
Re:The FTC wants to ban those tough-to-cancel gym and cable ...
by piperswe on Thursday March 23, 2023 @10:07PM
(#35284161)
A right of first refusal just means that they have the opportunity to buy the timeshare before you can sell it to anyone else. That would be a-ok for the customer, since either way the timeshare's off their hands.
Re:The FTC wants to ban those tough-to-cancel gym and cable ...
by janj on Thursday March 23, 2023 @03:55PM
(#35280428)
Or maybe find people at end-of-life with no heirs that would buy it for a $1 in exchange for a donation to their charity of choice.
Re:The FTC wants to ban those tough-to-cancel gym and cable ...
by toast0 on Thursday March 23, 2023 @05:24PM
(#35281502)
You'd need to be careful about how you setup and run the corporation such that the veil can't be pierced. If a court got involved, I think they'd be nonplussed if the corporation was organized, acquired the property, and filed for bankruptcy within a couple of months.