I know by now you’re sick of hearing about COVID-19. I myself involuntarily flinch anytime I hear the phrase “social distance” or hear yet another story of an unmasked consumer wrecking havoc in a store.
But, just because you’re fed up is no reason to let your guard down. In fact, it’s more important than ever to stay alert to timeshare related fraud.
Even in “normal” times, timeshare owners are consistently being solicited by any number of self-proclaimed exit companies promising, yet almost never delivering on their promise to get you out of your timeshare, get your money refunded and provide you with magic beans.
Today however, it’s much worse. The sheer number of these firms, which in actuality are nothing more than a few people with a bank of phones, is astonishing. Each day I come across at least 2 or 3 new ones.
What’s behind the sudden increase? For months now, timeshare salespeople have been furloughed, laid off, fired or at the very least experienced severe cut backs. Many of these salespeople have access to owners’ lists; replete with full information on you, what you own, how much you own, how much you owe, your annual maintenance fees, etc. All of this information comes in handy when they contact you.
Now, I’m not saying that all salespeople are doing this. I’m not saying that their current/former employers condone or even know of this. But facts are facts-owners’ lists are fairly easy to obtain by any enterprising person with time on their hands and bills to pay.
Do not be fooled. There is no easy or simple way out of a timeshare contract. You do not need to buy more timeshare so that you’ll somehow qualify to either sell it back to the developer, deed it back to the developer or get a refund.
So, unless you’d like to pay several thousand dollars for empty promises and a handful of magic beans, do not engage with anyone on the phone, email, messenger, etc. no matter how much information they have about you and your timeshare.
If you’ve been approached by one of these scammers, let me know so that it can be reported to the authorities.
6 comments:
I don't understand how this blog makes any sense? we all know there is no secondary market for Timeshare Resale. We also know that most Timeshare developers do not want to deed back your timeshare for the sole purpose of losing that revenue. The timeshare industry in itself is nefarious, there either needs to be options to easily get out or have people do the work for you on your behalf no?
Having said that do you know of a sure-fire way to get my timeshare deeded back to the developer and retain any financial loss?
I understand your frustration and I think it’s despicable that timeshare developers don’t take back their own product.
Having says that, it’s a story of the lesser of two evils. Would you rather be on the hook to the developer AND out thousands of dollars to a company that 99% of the time can’t do what they say they will or only on the hook to the developer?
Is your timeshare paid in full? What, if anything have you tried in the past? Drop me an email and I’ll be happy to review and offer pointers if I can.
Yes we have paid in full timeshare. We called the HOA and the developer to take it back. We were told they don't do that.
Contacted an attorney. Declined to accept case. Tried resale websites. Too many to compete with. Current maintenance fees are $950/year.
Last resort is walk away and risk our credit.
Any ideas?
Drop me an email.
We awould like some advice on how to get rid of just the maintenance fees each year. Can you help?
Janet, you can email me if you’d like, but I’m curious as to why you feel you should not have to pay the maintenance fee that every other owner is paying.
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