5 Ways to Avoid Being Ripped Off by a Timeshare Exit Scam
So-called timeshare "exit companies" prey on timeshare owners making false promises to sell the timeshare for an upfront fee. These companies waste people's time and money and create more problems than solutions for timeshare owners. Here is how to spot a timeshare exit company scam:
1) YOU OWN A TIMESHARE
Exit companies prey on those who own timeshares. If you are a timeshare owner, then always be on the lookout for these companies trying to "give you an easy way out for a 'small' upfront fee."
2) YOU GET A CALL FROM AN EXIT COMPANY
Chances are you will receive calls from exit companies once you purchase your timeshare looking to "help you." Beware of these calls and if something seems too good to be true, it usually is.
3) YOU'RE ASKED TO PAY AN UPFRONT FEE
Never pay an upfront fee. These companies always ask for an upfront fee, promise to sell your timeshare, but complaints from timeshare owners who have gone this route prove that they never see their money again and the exit company failed to sell their timeshare.
4) YOU PAY HUNDREDS OF THOUSANDS OF DOLLARS TO THE COMPANY
In many cases, timeshare owners continue paying these companies to help them sell their timeshare. Again, these timeshare owners never see this money again and still have their timeshare plus have taken a hit on their credit rating from their lack of communication with the timeshare company as instructed by the exit company.
5) YOU STILL HAVE YOUR TIMESHARE
If you decide to go the route of an exit company be prepared to spend your money and still have a timeshare. Exit companies will NOT sell your timeshare, but WILL take your money. There are responsible ways to leave your timeshare if you discuss the options with your timeshare company. Do not fall victim to the timeshare exit company scams.