Timeshare Resale Scams: Still A Thing
3 min read
We’re talking about timeshare fraud risk to celebrate National Consumer Protection Week! Every year, the FTC dedicates this week to educating consumers on how to avoid scams and frauds. As consumer advocates, we see the negative effects of timeshare fraud every day. Here are some risks to watch out for.
Some timeshare fraud happens in the initial sales presentation. Most people attend these presentations to get the free gift. Unfortunately, getting that freebie is easier said than done. Many salespeople fail to deliver on their promise of that free gift. And that’s not the only risk! Salespeople have been known to make misleading remarks or fail to disclose key aspects of the timeshare. So, reduce your risk by steering clear of sales presentations. If you do attend, make sure to get everything in writing and hold them to their word.
It’s a sad world we live in when answering the phone makes you vulnerable to fraud. But even as we move everything in our lives online, phone scams are still alive and well. Although you can’t stop answering your phone, be very wary of anyone who contacts you directly. Reduce your risk by properly researching any business who calls you directly. Check their reviews with the Business Consumer Alliance, Google Reviews, or other reputable review sites. Request everything in writing. And definitely don’t send anyone money.
Unfortunately, senior citizens are at high risk for fraud. They may have deep pockets after a lifetime of saving for retirement, which makes them attractive targets. So, fraudsters seek to exploit trust, loneliness and more. Reduce your risk by being very skeptical of ANYONE who asks you for money or information. If you have any doubts, ask for help from a family member or community organization. If your or a senior you know has been the victim senior fraud, report it here or here.
Unhappy timeshare owners often try to sell their timeshare. And there are plenty of listing services to help them find buyers. Unfortunately, when you put yourself out there to find a buyer, you also put yourself out for fraud to find you. If you list your timeshare, beware of calls from firms claiming to have a buyer for you. Unfortunately, many of these resale companies are looking to take your money and leave you with your timeshare. Click here for more on resale scams.
Of course, you’ll be free of timeshare fraud risk if you simply stay away from timeshares. If it’s too late and you already own a timeshare you don’t want, we can help you get out. Primo helps people like you exit their timeshares every day. We offer a free, no-risk consultation. Plus, we’ll put everything in writing. And we invite you to investigate us ahead of time by checking out our Google Reviews or our “A” rating from the Business Consumer Alliance.
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