Decoding Timeshare Donation: The Risks and SCAMS
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When trying to get rid of a timeshare, many options come to the surface; one of these options is timeshare donation.
The big question is: Is doing a timeshare donation a viable option? The reason why people consider this choice is because of the possibility of receiving a tax deduction.
What people should know first is that you don’t get a tax deduction immediately, before that, the donation company has to sell the timeshare first for a profit, like it is mentioned on the article Timeshare Donation To Charity - How To Proceed?
The truth is that foundations and organizations would rather not take a timeshare as a donation since they will have paid all the annual fees timeshares come with, and it ends up being a more wasteful expense than something beneficial.
In the following, we’ll describe how to detect timeshare donation scams.
Timeshare Donation Scams – how to detect them
Timeshare donation scams can be easily detected if you notice any of the five details we will now enlist: a consignment basis
a) Upfront Fee: Timeshare donations should not cost an upfront fee!
This is also mentioned in the article: Timeshare cancellation or donation should not cost you upfront! Asking for an upfront fee is a very frequent tactic used by scammers in the timeshare industry to get people’s money. Timeshare donation scams are not the exception.
b) Consignment Fee: Several companies charge a fee to release you from your timeshare.
The truth is that they’re trying to sell the timeshare on a consignment basis, which means that if they don’t find a buyer soon enough to make a profit, they won’t refund the fee you paid, and they will return you your timeshare with all the responsibilities.
c) Tax deduction scams: In order to attract victims, timeshare donation companies claim that you can deduct more money from your income tax return for a timeshare donation than you actually can.
To be honest, the tax deduction you get is only applicable to the timeshare resale value (in case the timeshare is sold), and most timeshares real resale value is not over $500.00 USD, like it is said in the article Timeshare Charity Donation.
d) Lead Generators: Beware of what you are submitting to.
There are timeshare companies that pay an average of $25.00 USD per lead that is generated when someone submits information on a lead generation portal, but most of these websites land pages for lead generation brokers.
e) Look-A-Likes: You need to be careful on this one.
There are timeshare donation companies that steal articles from other companies and use their original content in order to make their website look serious and reliable.
Timeshare Donation Scams –Tips to avoid them
Timeshare donation scams are very common and costly. Therefore, you have to be extremely cautious.
If you detect any of the details we mentioned in the last paragraph, it is likely that you’re a target for the timeshare donation scam company.
Follow the next tips to protect yourself from getting scammed:
1. Never, ever pay upfront fees: That is a gold rule. There are people who have been scammed more than once with the same trick. By now, we should know that paying an upfront fee is not an option.
2. Make research on the company: Do not be so credulous. Always look for some reviews of the company and ask as many questions as possible.
The Better Business Bureau, is a great site to provide you information.
3. Consult with an expert: If you want to get rid of your timeshare, consult with an expert on timeshare matters what options you have and which one is the best for you.
Timeshare Donation Scams – The real solution
We’ve mentioned this before in the article Donate Timeshare Scam. Timeshare donation is not really a solution, and you’ll be exposed to being a victim of one of the many timeshare donation scams.
Canceling a timeshare is the most viable option to get rid of your property.
At Mexican Timeshare Solutions, we provide you a free consultation on your timeshare matter, and we don’t ask for any upfront fees until your problem is solved.
Contact MTS for a free advice and relief yourself from future payments and debts.
To receive more information about timeshare donations and how to cancel your timeshare, send a WhatsApp to +52 1 333 239 6589, fill out the contact form, or call us at +1 714 277 3662.
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