A New Timeshare Scam
There are a growing number people who have discovered that their timeshare has become a purchase they regret. Timeshare owners who want to get rid of their timeshare quickly learn that even though they spent thousands of dollars to purchase the timeshare, it is nearly impossible to sell, or even give away for free.
With so many people wanting to get out of their timeshares, the scam artists have moved in to take advantage of this desperation. The most common timeshare scam is when the timeshare owner is contacted by someone who says that they have a willing buyer for the timeshare. The only catch is that the timeshare owner needs to pay an upfront fee in order to get the buyer to close. Of course, after the money has been paid, there is nobody who wants the timeshare in the money is lost. This timeshare reseller scam has become one of the biggest complaints lodged to the Better Business Bureau.
If this wasn't bad enough, the timeshare scammers have now taken this scam one step further. Instead of taking the money and running, they extend the timeshare scam. They contact the timeshare owner once again, this time pretending to be affiliated with an organization which is trying to help those who have been scammed by timeshare resellers. The catch, once again, is that an upfront fee must be paid in order to be part of the lawsuit. Once the money has been paid, the lawsuit never materializes and the timeshare owner has lost even more money.
It's important to remember that if somebody contacts you unsolicited about your timeshare, the chances are that it's a scam. This is especially true if they require an upfront fee before the timeshare is out of your name. Never give out any financial information until you have been able to thoroughly check out the organization and are 100% sure that it's on the up and up. If anything doesn't feel right about it, leave. The scammers know that timeshare owners are desperate to get rid of their timeshare, and they play on this desperation to get them to be less financially diligent than usual.
(Photo credit: TST)