Timeshare Exit Toolkit
Last week, U.S District Judge Gregory A. Presnell denied two separate requests for dismissal from timeshare exit companies facing lawsuits filed against them by Wyndham Vacation Ownership. The suits allege that Reid Hein & Associates LLC, who does business as Timeshare Exit Team, and Timeshare Owners Relief LLC engaged in false and misleading practices to defraud consumers of thousands of dollars in upfront fees for an exit process that never came to fruition. The Florida suits represent another step towards regulating the currently unregulated timeshare exit industry.
The timeshare exit industry has experienced massive growth in recent years as scammers began convincing consumers to exit their timeshares. The Better Business Bureau has studied these trends at length and has been urging consumers to exercise caution when considering timeshare cancellation.
Robert Clements, VP of Regulatory Affairs and General Counsel of The American Resort Development Association (ARDA) notes, "There are no laws that specifically regulate the practices of timeshare exit companies or protect the large upfront fees that consumers pay them. Even with a 100% money back guarantee, we've seen examples of exit companies going out of business or filing for bankruptcy resulting in consumers losing the money they paid in advance. Without action by regulators, state attorneys general or law enforcement, we fear more consumers will be harmed."
While the refusal to dismiss is certainly a step in the right direction, it remains critical for timeshare consumers who believe they have been a victim of timeshare exit fraud to report it to the state attorney general, their local BBB office, or local law enforcement. Timeshare owners should also educate themselves on the common tactics used by fraudulent exit companies such as:
Consumers interested in exiting their unwanted timeshare should always contact their timeshare company first and review ARDA's guide for exiting a timeshare responsibly.
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Pro Timeshare Resales: Exit Company Out of Business After FTC Lawsuit
Diamond Resorts Marks Win Against Timeshare Exit Company
Timeshare Exit Firm Owner Challenged for Controversial Oped
Lawsuits Against Timeshare Exit Companies to Move Forward
Kiplinger Reports About Timeshare Exit Scams
Timeshare Exit Company Targets Consumers in Northeast Ohio
Man Sentenced to Prison for His Role in Timeshare Exit Fraud
BBB Continues to Make Alerts About Timeshare Exit Scam Companies
Resort Company Fights on Behalf of Timeshare Owners in Latest Lawsuit
Arkansas Attorney General Files Suit Against Timeshare Exit Company
Timeshare Exit Company Victim Speaks Out
BBB Exposes Portland-based Timeshare Exit Scam
Timeshare Resale Scam Warnings Surrounding Real Estate Company in Nashville
Florida Man Sentenced to 7 Years for a Telemarketing Timeshare Exit Scam
BBB Reports Hundreds of Timeshare Consumers Losing $2.2 Million to Missouri Exit Companies
Timeshare Exit Company American Resource Management Group Declares Bankruptcy
Oregon Timeshare Resale Scammers Caught Stealing Identities
Timeshare Exit Company Files For Bankruptcy
New Legal Warning Cites A Surge Of Timeshare Exit Scams In Arizona
Timeshare Exit Telemarketing Scam Sends Florida Man To Prison
Timeshare Resale Scam in Florida Causes $3 Million in Losses
Timeshare Exit Scammers Defraud $24,000 From Innocent Timeshare Owner
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Considering a Change in Your Timeshare Ownership
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BBB Receives Complaints About Fraudulent Timeshare Resale Companies Taking Upfront Fees
ARDA Reports Nine Years of Consecutive Growth for Timeshare Industrty
New Website Provides Helpful Information for Consumers Looking to Exit Their Timeshare
Wyndham Destinations Working to Help Consumers Who Lost Money in Timeshare Exit Scheme
What Your Timeshare Attorney Isn't Telling You
Consumer Reports Examines the Costs of Vacationing and Determines Owning a Timeshare Pays Off!
Five Surprising Qualities of Present-Day Timeshare Owners You Will Have to Read to Believe
U.S. Timeshare Industry Produces Eight Straight Years of Growth