In the timeshare resale industry, there are few things that can be more damaging and devastating than timeshare resale scams. These are very real frauds that can cause very real and substantial problems for those who fall victim to their tactics. They are fast becoming one of the most common consumer scams in the country, and despite efforts from the Better Business Bureau and news groups to get the word out about these frauds thousands of people suffer their wrath each year. But what happens if you fall victim to one of these scams? How can you bounce back from them and still successfully get rid of your timeshare?
Despite their commonality, timeshare resale scams are a fairly new problem. As people start to reign in their spending, luxury items like vacations (and this timeshares) are often the first to go. However, getting rid of a timeshare can be a lengthy and complicated process. With so many people trying to sell their properties in order avoid paying costly fees on their property, scammers have stepped up to take advantage.
You may think it is the answer to your prayers – a company that will sell your property for you, and may even have buyers already interested! In a matter of days, maybe even hours, your timeshare can be a distant memory. All you have to do is pay upfront to cover administrative fees and sales costs, and some of it will be refunded once the property sells. Unfortunately, it is all a ruse. The property never sells and your money is gone, leaving you potentially out thousands of pounds and still in possession of your expensive timeshare. Now what?
In many cases, once you are hit with a timeshare resale scam you are at risk of getting scammed again. Recently, people who have were victim to scams have found themselves being contacted by companies offering recovery services to help them get their money back. Again, they just need some money up front. Unfortunately, these are often the same companies that scammed the money out of them in the first place and they find themselves facing the same situation a second time.
Many countries now are helping protect timeshare owners from these scams and those caught face tough prosecution, hefty fines, and restitution. A lot of times these criminals are caught, but the money may be gone and hope of ever getting it back is too. Because of this, the only real way to fight timeshare resale scams is to not fall for the schemes in the first place. Never pay upfront fees for any services and insist you do your own research first. By sticking to your guns and only working with companies you know are reputable you can successfully sell your timeshare quickly without falling victim to and having to deal with the fallout from timeshare resale scams.
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