Recognize The Signs Of A Timeshare Exit Company Scam
One of the most telltale signs of a
timeshare exit scam
surrounds large upfront fees for services that are not rendered. Timeshare owners have lost thousands of dollars falling victim to contracts that scam them into agreeing to pay unnecessary fees when they can work directly with their timeshare company for free! In a recent study conducted by the BBB, victims of a timeshare exit company scam paid upfront payments of $3,000 - $4,000 per property.
Timeshare exit companies often guarantee 100% satisfaction or your money back, but a closer look at their reviews suggests otherwise.
Fraudulent timeshare exit companies
will also make unsolicited calls to timeshare owners, faking their company name and falsely promising to help consumers exit their timeshare safely. ARDA warns timeshare owners to be cautious the moment they receive a call or email from a timeshare exit company claiming to have an interested buyer for their property on the secondary market. There are more
timeshare exit strategies
available than solely using third-party exit companies to sell your property.
Research Before You Sign A Timeshare Exit Contract
Before safely and responsibly exiting your timeshare contract, it is important to double check all the available options and speak directly with your timeshare company. If canceling your contract is the right move for you, your timeshare company will be able to walk you through the process and possibly put you in contact with a recommended broker. If you wish to work with a third-party exit company, the
Better Business Bureau (BBB)
recommends timeshare owners perform thorough research, examining the company's ratings and reviews before signing any contracts. Find out how long they have been in business and whether or not they have any pending litigation. In addition, you should inquire about the fees and services they are claiming to provide to see if it that same service can be completed through your timeshare company directly. Don't be afraid to speak up. This is your property and your well-earned money!
If it sounds too good to be true, it probably is. Timeshare owners should know and understand exactly what they are paying for and whether or not they will be guaranteed a safe and affordable timeshare exit. Always contact your timeshare developer first. Before selling you may want to considering
your timeshare. You can find more advice from
about selling your timeshare.
To read the BBB's full report and to better understand the timeshare exit scams within the timeshare exit industry,
Have more questions about cancelling your timeshare ownership?
for frequently asked timeshare exit questions. Learn more about exit companies like the ones listed below before signing a contract and paying upfront fees.
Orlando Ventures is a timeshare exit company located in Orlando, Florida. The company claims to help timeshare owners cancel their timeshare, but has yet to receive accreditation from the Better Business Bureau as a reputable business. Customers of the company have complained about the company's lack of service, claims that have resulted in various lawsuits.
Based in St. Louis, Missouri, Square One Development Group, Inc. is an exit company that promises to provide exit strategies to timeshare owners. While the company has been operating since 2005, it has yet to be accredited by the Better Business Bureau. It has routinely been under scrutiny for advertising a false A+ rating to consumers.
Timeshare Exit Team is based in Bellevue, Washington that promises to help timeshare owners exit their timeshare. Customers have issued a variety of complaints against the company with the BBB, citing a general failure to uphold their 100 percent money back guarantee. Lawsuits against the company have highlighted the company's inability to provide exit solutions to consumers.
Located in Branson, Missouri, Timeshare Relief Consultants claims to provide aid to timeshare owners looking to sell their timeshare property by transferring ownership from the consumer to the exit company. Despite their claims of having an A+ rating, the company has yet to receive any accreditation from the Better Business Bureau.