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We compare timeshare exit companies so you can make an informed decision. Learn how we earn to maintain our website so we can continue providing valuable content to our readers. We do our best to provide educational information and help you navigate through the timeshare exit industry.
We compare timeshare exit companies so you can make an informed decision. Learn how we earn to maintain our website so we can continue providing valuable content to our readers. We do our best to provide educational information and help you navigate through the timeshare exit industry.

Beware of Timeshare Exit Company Scams

Here are some of the most common timeshare scams that you should be aware of:

1. Illegal calls promising timeshare exits or resale deals, asking for upfront fees.

2. Companies that ask for upfront fees to list your timeshare, but never find buyers.

3. Scammers take your personal information and use it for fraud, pretending it’s for a timeshare deal.

4. Fake rental offers asking for deposits.

BEWARE OF TIMESHARE TELEMARKETING SCAMS

Timeshare telemarketing scams often involve a company calling you about your timeshare listing. They may ask if you own a specific timeshare and if you’re interested in canceling it. Then they’ll claim they have a buyer willing to pay a high price, such as $19,900. but they need a 10-20% down payment to initiate the process. If you pay this down payment, most likely you’ll lose your money, as no reputable company will ask for such a high fee upfront.

TIMESHARE LISTING COMPANY SCAMS

Timeshare listing scams are common in the industry. A company will claim they can sell your timeshare quickly and might even say they have a buyer ready. These companies usually charge a membership fee ranging from $100 to $1000. Once they get your money, they have no incentive to sell your timeshare. They may ask you to re-list your property with them after your contract expires, costing you even more money.

Timeshare Identity Theft Scams

Timeshare identity theft scams happen when a scammer pretends to be from a legitimate business and offers to buy or sell your timeshare. They will have all the right information and might even provide an email or phone number from the company they claim to work for. Once they know they’ve gained your trust, they will ask for a payment. Many people have fallen for these scams and lost thousands of dollars. To avoid timeshare, exit scams, do not respond to unsolicited emails or calls from anyone claiming they can sell or rent your timeshare.

Timeshare Rental Scams

Timeshare rental scams are common but they’re elusive. Scammers often target elderly people who have questions about renting their timeshares. They use fake “listing services” or create websites that look legitimate, making it easy to trick people who are unaware.

Scammers may offer a “guaranteed rent” plan, they’ll trick you into believing you can make money by renting out your timeshare. This often leads to frustration and financial loss. They use high-pressure sales tactics, shady guarantees, and promises of high rental income to lure you in.

These scams can be hard to distinguish from legitimate companies because many fake sites look like real online listings. Never buy anything online or over the phone if you’re unsure.

CAPITAL VACATIONS FIGHTS TIMESHARE EXIT SCAMS

Myrtle Beach, S.C., May 9, 2024 /PRNewswire/ — Capital Vacations is taking action against scam companies that claim to cancel timeshares but only charge high fees without delivering any real service. According to the FBI, these scams can have serious consequences for victims. If you think you’ve been targeted by a timeshare scam, report it.

These fake companies often say they offer “consumer advocacy” but only send useless complaint letters to developers. These letters never result in timeshare cancellations. Instead, they convince owners to stop paying their fees while pocketing large upfront payments. Capital Vacations is fighting back by suing companies like Financial Recovery Advocates (FRA) and its associates for their deceptive practices.

Capital Vacations has accused FRA of breaking South Carolina’s Unfair Trade Practices Act. The lawsuit aims to show that FRA is practicing law without authorization. Capital Vacations is committed to protecting its members from scams and holding these fraudulent companies accountable.

WAYS TO AVOID TIMESHARE EXIT SCAMS

Timeshare owners often get calls from companies offering to help exit contracts. Be cautious if they ask for upfront fees.

1. When you get a call from an exit company, check their reviews, BBB rating, and if they have a real office. Be careful of high-pressure tactics, Scammers often use them to make you act quickly.

2. One of the biggest red flags is being asked to pay an upfront fee. Reputable companies will not ask for payment until after they have successfully helped you exit your timeshare.

3. If you’ve already paid a company hundreds of dollars and still have your timeshare, you might have fallen for a scam. Contact authorities and seek help to try and recover your money.

4. You can exit your timeshare without upfront fees. Trustworthy exit companies or directly contacting your timeshare developer are effective options.

What To Do If You've Been Scammed Already?

If you think you’ve been scammed, file a report with the FBI’s Internet Crime Complaint Center (IC3) at ic3.gov. Include the estimated total amount of money lost, details of any wire transfers, bank account numbers. Also mention names of businesses and individuals involved. And information about how you communicated with the scammers.

The Resort Owners’ Coalition has an online resource center. They have step-by-step advice for timeshare resales. You can also call their consumer support line at 855-939-1515 for assistance.

Additionally, if you are worried about your timeshare or if you’ve given any money to someone who claimed they could help you sell your timeshare, we’re here to help. Contact us right away.

Final Thoughts

Always work with a licensed professional! Or you can reach out to us so that we can help you find the best timeshare exit company for your situation. Start a Live Chat with one of our agents or you can give us a call at (833)-931-6555 for more information.

There are numerous timeshares scams every year, protect yourself. Contact our team so we can help you determine if a timeshare exit company is legitimate,

We recommend working with timeshare exit companies that offer escrow, so you pay no up-front fees. Know your legal rights so you can exit your timeshare.

Read over our website and fill out the form on the right or contact us through Live Chat for a free informational consultation.

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