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More Timeshare Scams Just in Time for 2019

More Timeshare Scams

January 9, 2019 – by Primo Management Group

More Timeshare Scams

More timeshare scams are popping up all over. Find out what you need to know before it’s too late.

2018 was a great year in Connecticut. A great year for more timeshare scams, that is. The attorney general’s office received 58 timeshare complaints in 2018. Consumers reported the usual suspects: high-pressure sales tactics, misleading claims, and that old favorite timeshare resale scams. Here’s how the industry uses these tactics to scam unsuspecting consumers.

High-Pressure Sales Tactics

Many timeshare representatives use high-pressure sales tactics to convince you to buy. First, they offer incentives in exchange for attending a sales presentation for a set amount of time. It’s not unusual for these presentations to last hours longer than promised. Some consumers report being denied food or water during the presentation. Others say they weren’t allowed to leave at the designated time. Reps may also solicit sales by telling you the offer ends soon and you have to sign right away or lose your chance. It’s best to avoid these sales presentation altogether if you can. Or if you do go, don’t sign anything.

Misleading Claims

As if the high-pressure tactics weren’t enough, many sales reps use false or misleading claims to secure your signature. They may say your timeshare will increase in value over time. It won’t. They may say you can sell if you don’t like it. You can, but it’s very hard to find a buyer at all, let alone a buyer willing to pay anything close to the price you paid. Points-based timeshares may talk about easy swaps and reservations. But in reality, making reservations can be a challenge, swaps aren’t guaranteed, and all of it will cost you money in the form of additional fees. Always get everything in writing before you sign anything. And if they won’t give it to you in writing, there’s probably a reason.

Timeshare Resale Scams

Timeshare resale scams are possibly the most diabolical because they target vulnerable owners desperate to escape their timeshares. Here’s how it works:

The scammers tell owners that a buyer is available for their timeshare. All you have to do is send an upfront fee to secure the sale. The owner typically wants out of their timeshare. The resale market is flooded with available properties and not flooded with buyers. It’s not uncommon for timeshares to go for $1 on eBay. So, when someone offers a good price, it’s easy to see why people are willing to pay the fee even if it seems too good to be true. Unfortunately, if it seems too good to be true, it probably is. Once the fee is paid, the buyer evaporates and the money disappears.

Protect yourself from timeshare resale scams by first doing your research. If you can’t find good information on the company, don’t use them. Second, get everything in writing. And finally, don’t pay that upfront fee. Real estate transactions are paid for at the point of sale, not before.

Existing Consumer Protections

What protects consumers from more timeshare scams? After all, the timeshare industry’s poor reputation is well-known. It turns out, the law does offer some protection in the form of the rescission period.  During this short cooling off period immediately following the signing of the contract, you can cancel your timeshare in writing for any reason.However, beware! Timeshare companies may try to scam you out of this right, too. They may put information in small print or concealed in a secret compartment or tell you that you signed the right away (pro-tip: you can’t sign away your right of rescission).

With such limited protections, it’s no wonder that timeshare scams continue. Unfortunately, getting out of a timeshare isn’t nearly as easy as getting into one. If you’re trapped in an unwanted timeshare, consider a timeshare cancellation partner like Primo to help you get out. Contact us for a free consultation to see how we can help you escape.

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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.