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The Latest Timeshare Scams: Don't Turn into Their Next Target

By: Bryan Farrow

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Firstly, it is pretty much pointless naming and shaming the scam merchants that are continuing these common scams, simply because as soon as they pick up any off-putting press they are shutting down and reopening with a fresh identity, even operating from fresh offices. For that purpose, I have just given a broad overview of how each scam operates:

1) A party will call you (by telephone) asking if you want to sell your timeshare. They often usually state that they have someone who wishes to pay thousands for your timeshare. The fact is that after a lot of smooth talking you will be asked to pay them in general anything from £300-£1,000 (US$500 or more) up-front. They often even claim that you are covered for fraud by paying with your credit card, so this is a very popular scam, which many people fall for. In truth you will not collect money for your timeshare as there is no waiting customer and your credit card payment will be paying for a ambiguous item such as 'promotion services' which are naturally non-refundable. At some moment your waiting 'buyer' will inexplicably withdraw from the deal but not before your payment has been processed.

2) This is a telephone call intended to initiate a relationship with you. They may notify you that RCI have a civil case in the USA that may entitle you to reimbursement of up to £15,000 (US$25,000) as an RCI member. They will refer you to a website that provides you with an overview. The plan is to get you to attend a face to face appointment. They will invite you to meet with them to complete a evaluation on the topic of your dealings with RCI and then to establish what you may be entitled too. The bottom line is that you will be asked to part with cash to join a super "Holiday Club" where they maintain you will be able to gain access to timeshare accommodation from £99 with no problems with availability. They also say that you will be able to take as many as you want with the cheapest flights around and perhaps half price cruises. They will tell you anything you need to hear in order to get your cash.

3) Another telephone call with a different tact to put you at ease. This time they immediately point out they don't want any money in advance. However they have a genuine buyer who wishes to purchase your timeshare for x amount. They will take their commission out of this. They will point out that they are in your district and only request that you bring down with you your deed and a utility bill as evidence of ownership. You turn up to a room with other timeshare owners discover that it's a presentation on a holiday club. They will trade in your week worth x amount against theirs which is obviously worth more.

4) This telephone call is to notify you that your resort will not allow you to just hand back your week if you no longer wish to own your timeshare and that they will send out the debt collectors to ensure maintenance payments are made. They may also assure you that even following your demise your timeshare will pass on to your next of kin as part of your estate, so they will go after them for maintenance payments too. They very benevolently will take over your timeshare typically if you pay up the next decades' worth of maintenances to them.

Holiday Clubs. These are best avoided. Their presentations revolve around the theory that you don't have to possess timeshare but can access them for as little as £99. They are dressed up every so often with two for one cruises and or heavily discounted flights. Again, whatever that has to be stated to get the sale will be included into their presentation.

Most of these holidays clubs don't even exist except on paper (they do not own accommodation or have property or systems in place to safeguard your investment). You will only ever see glossy sales and marketing materials. Most of these holiday clubs have only very poor availability and only access a restricted range of destinations. Their stock is basically 'fly-buy' accommodation, where resorts pay them to get individuals to attend timeshare presentations whilst staying at a particular resort. So the perpetrators of these scams get paid by you when you join AND by the resorts that you visit.

The 'Money Back' Scam goes on: this is where a company will dress up their offer with an opportunity to get your capital refunded after a certain period of time.

Typically you are informed that you will get your capital back after a period of (say) three years with a generous interest payment too. They explain in order to receive this you have to present your cash-back documentation on a certain day. As most members 'forget' to do this or the documentation gets misplaced, this (they say) is how they can have enough money to offer a 'cash back'. They will inform you that they will not prompt you and it's down to you to remember and turn up on the day. They will show various testimonials and legal bodies signifying that this is a true offer. They can be very believable but yet again, it's a total scam.

TIPS

IF you have been called once, you are more than likely to be on a register somewhere that will be accessed by other conmen , so look forward to lots of calls. Just notify them that your timeshare has been sold. That information will gradually filter down and you will get fewer calls.
The conman will be always be looking at new ways to access your money and assure you that they have something that will be of benefit to you. You will have heard the proverb that if something seems too good to be true, it probably is. Check out offers by using a Google search and don't forget to ask your regional trading standards agency for guidance, as they are often the first to hear about the latest scams.

Article Source: http://depositarticles.com/

Article submitted by Bryan Farrow of sell my timeshare and timeshare advice a free resource for timeshare owners

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