Monday, September 17, 2018

Anatomy of a Scam

I honestly do not comprehend how anyone with a modicum of common sense could fall for this, but here is a recap of the pitch that a ‘timeshare exit’ company is using: 

“We received an invitation to attend a seminar and so we went out of curosity because we have a timeshare that we wanted to let go of so we went to see what they would say.  

Lo and behold they talked about some open enrollment period from January 2015 to January 2018 where timeshares were to notify you because of some changes that were implemented (still not clear what the changes are but it sounded like it was all about escalated costs that they could now enforce) to allow you to opt out of your contract and be allowed to return your timeshare (of course at a cheaper cost than it would be to keep it).  

They calculated this cost based on 10-15 years of timeshare fees minus equity that you had accrued.  You would only be allowed to do this If you did not a have a signed release from ARDA in your file.  If there was an signed release by you then no they could not do anything and you couldn't return it.  They worked with ARDA and could check immediately to see what was in your file and what timeshares you owned and whether there was a signed document on file   A lot of times they said people signed these releases at presentations not knowing.  

They also indicated that they had a big lawsuit with Diamond and couldn't accept any Diamond properties but that some big changes would happen in December when they won their case for US Collection members to give back their points.”

What sheer and utter nonsense this is. I especially like the bit about ‘a signed release from ARDA in your file.’  It’s like being on ‘double secret probation’ in Animal House. 

People, I know you’re desperate to get out of your timeshare contract and I know that you’re at a disadvantage because you fell for a bunch of lies that convinced you to buy the thing in the first place without doing any research or even insuring that you understood the contract. But for heavens sake-STOP and think for a moment before you throw out yet more money. 

Breathe. Drop me a line. 

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