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Get Smart and Avoid Timeshare Scams

get smart avoid timeshare scams

July 6, 2018 – by Primo Management Group

get smart avoid timeshare scams

Why people fall for timeshare scams all the time and how you can avoid them

Are you one of the many people who have fallen for timeshare scams? Don’t worry. You’re not alone. In fact, recent data show that you’re in good company. In 2017, the FTC collected nearly 2.7 million reports of fraud using their Consumer Sentinel Network. Happily, this is less than they found in 2016! However, an analysis of this report shows that all kinds of people fall for all kinds of scams all of the time.

Who falls for scams, including timeshare scams? Everyone.

FTC Reported Fraud by Age

Source: FTC.gov

As you can see, the Consumer Sentinel Network collects scam reports from every age group.

Yes. Even Millennials

Scams perpetrated on the elderly get a lot of press. And rightly so. On average, when the elderly fall for scams they lose more money than others. We hear stories of people getting scammed out of their retirement all the time. However, people of all ages find themselves taken in by scams. In fact, millennials made up 40% of the scammed in 2017! Luckily for them, they lost less money on average. However, the fact that they have less money than mom and dad and grandma and grandpa is likely a factor in that analysis.  

Method of Scam

Fraud and scams come from many directions. In fact, we need to be careful of pretty much any kind of communication.

Don’t Call Us: Phone Calls

The telephone remains one of the most common ways that scammers contact their marks. So, common sense tells us to be wary of “opportunities” presented by phone. And it turns out, most of us are. Maybe the long history of phone scams works to educate us and keep us from falling for ruses. In fact, only 9% of people lost money to scams initiated by phone. That’s good news. However, it’s not the whole story.

You’ve Got Email

Email fraud is on the rise—and we’re more vulnerable to these scams. Of reported email fraud, 34% of people lost money. Email is, of course, a more recent invention than the phone. And it’s an ever-growing segment of communication. Even with anti-SPAM laws created to keep consumers safe and unbothered, email scams make up 10% of reported scams in 2017. And when people encounter scams by email, they are more likely to lose money. Perhaps we’re less aware of how widespread email fraud really is. Perhaps we’re less adept at identifying fraud when it shows up in our inbox. Whatever the reason, many, many Americans lose their hard-earned money via email scams.

54% of people lost money through a website or other virtual scam.

We’ll Call You

However, the biggest danger is when we reach out to a company or person of ill repute. If you think about it, this makes a lot of sense. We’re the ones making the choice to start contact with the scammers. So, already we may feel more at ease since we’ve clearly made at least one decision to connect. But this also gives the scammer more information about us. It tells them that we want what they’re selling. In legitimate sales, this would be a qualified lead. But for scammers, it’s easy money.

What To Do Next

Many people feel embarrassed when they are caught in a scammer’s web. However, it should be obvious that these issues affect so many people. It’s a widespread occurrence. We all like to think we’re too smart to fall for scams. But sometimes that faith in ourselves leads us down the wrong path.

Robert Cialdini, formerly Regents’ Professor of Psychology and Marketing at Arizona State University, says:

The root cause of people falling victim to a financial fraud is their uncertainty about the details of the financial environment. When people feel uncertain about financial decisions, they look outside themselves, and this sets them up for the fraud.

         (Source: Forbes.)

Falling for scams makes us feel duped, vulnerable, and powerless. But you don’t have to feel this way. You can get educated, take action, and avoid future scams. If you’re one of the many victims of timeshare scams and are looking to exit your timeshare, we can help. Get started here with a  free consultation.

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Frequently Asked Questions ?

How does PMG get me out of my timeshare contract?

PMG is not a resale, transfer, or donation company. We are consumer advocates—we help to negotiate the release of your timeshare contract obligation. We do not buy, sell, or rent your timeshare. Simply put, we help you to get out of your timeshare contract forever.

How long does the process usually take?

Usually less than 12 months, but it all depends on your situation. If your timeshare is free and clear with no mortgage, then the process may only take 3-9 months.

Speak to your advisor about the time, and what delays the resorts have put into place to prevent timeshare owners from departing their ownership. If you have a mortgage or past due maintenance fee, the process takes more time.

How much is my timeshare worth?

This is probably going to hurt, but whether you paid $5,000 or $50,000 for your timeshare, the IRS values all timeshares as worthless investments. In addition, that timeshare would have negative value due to the annual maintenance fee bill which compounds year after year. That is until PMG helps you cancel your timeshare.

Can I use your service if I still have a balance owed on my mortgage?

Yes. Whether you bought your timeshare 20 days ago or 20 years ago, PMG has a solution for you and is here to help.

Will my name be off the timeshare?

Yes! Permanently! GUARANTEED!

In addition to getting me out of my timeshare, can you recover the money I’ve already spent on mortgage payments and maintenance fees?

While we are able to recover money in rare cases, beware of any timeshare cancellation company that entices you with the promise of fund recovery. The truth is, timeshares are loath to give back the money they’ve already taken.

Are your consumer advocates really “consumer advocates”, or is that just a fancy word for salesperson?

Because most of our clients have had their trust betrayed by timeshare salespeople, we understand how some consumers can become a bit jaded. When you call us for a consultation, that’s exactly what you get, a consultation. At PMG, our job is not to sell you; our job is to help you get out of your timeshare. Which is why we have numerous 5-star reviews and an “A” (excellent) rating from the BCA.

Why should I choose PMG to get me out of my timeshare?

We pride ourselves on providing our customers with the best customer service in the industry. When you contact our company, you speak to a live person, not an automated system or voicemail. We go above and beyond for our customers by helping you to protect your credit and even repair your credit if needed. We offer a 100% money back guarantee, and we can provide documented proof of our success in helping customers just like you.

What happens after I sign up with you? Will I be apprised of your progress?

At PMG, we pride ourselves on our hands-on, boutique-style customer service, so every new client is assigned a case manager whose job is to keep you in the loop throughout the entire cancellation process. Your case manager is always just a phone call away.

How much is your fee?

Not all timeshare experiences are created equal. Some are more complicated than others, and every situation is different. That’s why our trained timeshare elimination consultants will ask you a series of questions designed to determine exactly what needs to be done to terminate your timeshare, how long it will take, and how they can best advocate for you. We will always seek the most cost-effective route for you.

What if I still have more questions?

Canceling a timeshare contract is not a cookie cutter process. With each situation being unique, once you complete the form below an experienced consumer advocate will call you today to discuss your options.