More and more timeshare owners are being taken advantage of from timeshare resale companies. Either they are paying upfront fees to sell or cancel their timeshare or are buying timeshares that don't exist. The safest course of action is always to work directly through the timeshare company or ARDA. They can assist consumers directly and make recommendations on exit strategies.
TIMESHARE SCAMMERS CHARGE UPFRONT FEES
A recent news article in Illinois reported consumer complaints to the Better Business Bureau about Resort Financial Group. The company was allegedly having people sign contracts and then collect thousands of dollars in fees for taxes, resort maintenance fees, legal fees, title transfer fees, third party fees and closing costs. Customers are reported to have lost over $40,000 and the company is reported to have never actually sold any of their timeshares.
TIMESHARE EXIT COMPANIES SPOOF THEIR PHONE NUMBERS
Unsolicited calls appear to come from a legitimate timeshare company, but in fact are not. The fraudulent companies use fake addresses and title companies as was reported by the Better Business Bureau in the case of the Resort Financial Group. A false title company name was allegedly also used by this company to make it appear legitimate.
THE BETTER BUSINESS BUREAU RECOMMENDS RESEARCHING BEFORE SIGNING
The BBB urges caution when signing resale contracts. Do you research to ensure the company is legitimate. Research web sites for complaints with the BBB, Attorney General's office and ARDA. Use caution with unsolicited phone calls and requests for upfront payment.