Placed in a pickle over terrible holiday investment

I HAVE BEEN a member of the Easy Holiday timeshare for the past six years. My initial investment was R150 000 – fully paid.

I am 70 years old and on pension. Easy Holiday is charging R1 037 a month, they call it “management fees”.

I have random timeshare out of season for about R8 000 a week. If I require to go for a week I pay about R10000.

What is the point in paying R10000 on management fees?

My investment of R150000 is of no use to me. They informed me that failure to pay this amount will forfeit my entire investment.

Cancelling this contract will forfeit my entire initial investment of R150 000.

You can sell the points via timeshare. Resale market has no demand for Easy Holiday timeshare points. My auditors once wrote to them to cancel my contract on medical grounds.

They wrote back to say cancellation would result in losing my full investment.

A scene of cancellation clause. I was misled with the small print. What recourse do I follow now? Dr Mohamed

Georgie: Trudie Broekmann says people are giving away points on Gumtree in exchange for the management fees.

“Don’t pay money for points/ club assets – you can get them for free. It’s not an investment, it has no inherent value.”