Timeshare Rip Off! Timeshare Scams on the Rise
Timeshare scams are on the rise, therefore, people should be aware and not to be fooled by false promises or anything that sounds too good to be true.
Timeshare industry is no stranger to rip-offs. Ever since the whole timeshare idea was created, the industry has been very criticized due to the dishonest sales practices, the false promises, the aggressive attitude from some sellers, the constant harassment, the high fees and the misinformation used to confuse customers, among other issues.
When the economy is tough, timeshare scams increase. During difficult times, unhappy timeshare owners are stuck with a vacation ownership they can’t afford anymore. In the desperation to get rid of their timeshares, they turn out to be easy targets for fraudulent timeshare-related companies, and many of them become victims of a timeshare rip off.
Timeshare Rip Off
The sale of a timeshare is an extremely successful way for timeshare resorts to generate consistent profits. The timeshare units are sold at a “presentation”, and the salesmen use attractive incentives to make people attend the sales pitch. Timeshare presentations are usually known for being long-lasting and high pressure. Although many people attend the presentation just for the free gifts, a considerable percentage ends up signing the contract. A timeshare rip off is committed when the people were lied to and taken advantage of by deceptive sales practices, but this is just the beginning of the story.
After paying an enormous amount for something that is not tangible, and with the refusal of the timeshare developers to cancel the contract, many timeshare owners look for a way to get rid of their unwanted timeshares, and this is where the story continues. The Timeshare scam is also perpetrated by companies that claim owners to help them with their timeshare situation, whether if they promise to sell it, rent it, donate it, transfer it or cancel the contract. Most of these “miracle” companies turn out to be fraudulent, and unfortunately, quite a lot of people fall into it.
The most common timeshare scams
- Timeshare Resorts: As mentioned before, timeshare developers generate big profits out of timeshares, and the salespeople would do anything to get a sale done. The sales pitches used by numerous resorts are frightening and even aggressive, without caring at all for the people’s right to say No and leave the presentation. People are harassed and pressured into signing the contract during hours in a small room. That being said, if you’re not interested in buying a timeshare, do not attend a timeshare presentation. Period.
- Timeshare Resales: There are many companies that claim to help you sell your timeshare... after you pay an upfront fee. They will say there is a “hot market” for timeshares, and that you can sell your timeshare for an over realistic price. There is not a “hot market” for timeshares; actually, timeshares are very difficult to sell.
- Timeshare Cancellation: Also known as timeshare exit, timeshare disposal or timeshare elimination, there are many timeshare cancellation companies that claim to be able to cancel your contract and recover your money, but most of them have very vague statements about how the fees are charged.
- Timeshare Rentals: These companies claim to rent your timeshare unit for an attractive price, but most times, these are just promises in the air. The truth is that timeshares are not very demand for rentals, and you usually need a permission from the resort to rent it.
- Timeshare Donation: Donation foundations and organization will hardly take a timeshare as a donation, since timeshares are difficult to sell and generate lots of expenses. Therefore, it’s ok to be suspicious about companies that claim to donate your timeshare easily.
- Timeshare Transfer: These type of companies claim to transfer your timeshare to a different person. Regardless what the company might promise, a timeshare transfer is not an easy process, and requires lots of time, efforts and paperwork.
Be careful! 10 tips to avoid getting scammed
For you to prevent yourself from falling into any type of timeshare rip off, these are 10 useful tips you must follow:
- Do NOT say yes right away
- Do NOT pay any upfront fees
- Do NOT give your credit card numbers
- Ask as many questions as possible
- Do NOT trust verbal promises
- Read contracts carefully
- NEVER make a deal on the phone
- Ask for references
- Research the name of the company
- Never dial a 900 to reach the company.
It is ok to be suspicious about any company that promises magical solutions for a large upfront fee. Sometimes you must follow your instincts, it’s not worth it to take the change for a fraudulent company.
When the scam finally got you
Unfortunately, a lot of people have become victims of several timeshare frauds, and many of them don’t know what else to do. If you are a victim of a timeshare rip off, don’t feel hopeless, there is a way out. At Mexican Timeshare Solutions, our goal is to assist timeshare scam victims. As specialists in the timeshare industry, we are dedicated to offering an advice in an experienced service to clients. We do not charge any upfront fees, if we don’t cancel your contract, you don’t have to pay us a penny. Contact MTS for a completely free consultation and get rid of your problematic timeshare. You have nothing to lose, except your timeshare!
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