Common Timeshare Scams
Timeshare companies can paint an excellent picture of what ownership is like. Many members later find that the reality of the purchase is far different than what they thought. Timeshare developers are often only the start of a potential ripoff.
Many companies will claim to help people that are caught in timeshare nightmares. These companies will offer to help rent out the unused timeshare or sell it for the owner. Other companies claim to be able to cancel timeshare contracts, but many are simply fly-by-night companies that will disappear.
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Common Lies Used to Sell Timeshare
There are certain features of a timeshare that a sales representative can twist to make the owner think they are getting a great deal. The fine print in the contract will often contradict what the rep is telling a potential buyer face to face.
At Linx Legal, we call this practice misrepresentation. Make no mistake, the men and women that sell timeshare are very good at their jobs. They know the right buttons to push and the right strings to pull to make purchasing sound like a worthy investment. These are just some of the common lies and/or misrepresentations we have seen:
- A false sense of urgency
A full description of these selling tactics can be found here.
Timeshare Relief Companies
These are many ways that companies will try to offer help for timeshare owners. They will claim to assist in the rental process, the outright sale, or cancel an owner’s contract. Most of these companies are not out to offer help or relief. Usually, an upfront fee is collected whether the company actually offers any relief or not.
If a company is asking for upfront payment in the first conversation, that should raise a red flag. The FTC says that the number one way people reported being contacted by scam companies was over the phone. Just because there is a live person on the line does not mean they are legitimate. The BBB is an excellent resource for determining if a company is real or a scam.
A common scheme that targets timeshare members is offering rental assistance. This ties in closely with the timeshare developer selling rental income as a tactic. Owners may hear income potential and jump at the chance to make some money back. Unfortunately, these companies will collect an upfront posting fee and then never be heard of again.
Another common lie that targets timeshare owners that are searching for help is reseller scams. A company may call and claim to be a listing agent or a real estate agent. They will tell the timeshare owner that they have a buyer ready and just need to collect the closing fees upfront. The timeshare owner will pay the fees and the reseller does not deliver the buyer. The scammer runs off with the upfront fee.
Timeshare Exit Companies
It is difficult to tell the difference between a legitimate company and scam artists. The Better Business Bureau is the quickest resource to check a companies credentials. If the targeting company is not accredited on the BBB or has a low rating, that should be a red flag. A great majority of timeshare cancellation firms will also attempt to collect upfront fees and then disappear. Even the most popular companies found on the web do not have good reviews. They spend all of their money on advertising instead of building resources to help their clients.
Wesley Financial Group, LLC
They are prominent on the web. They show up on every Google search for “timeshare cancellation”. However, they have had their BBB accreditation revoked. This is usually caused by an increase in customer complaints. There are many posts of former clients that claim their money was taken and never refunded even after WFG was unsuccessful in getting them out of the timeshare.
Timeshare Exit Team
Another popular timeshare relief company that claims to get owners out of timeshare contracts. Timeshare Exit Team has lost its BBB accreditation status as well. The BBB has received a pattern of complaints from former and current clients of Timeshare Exit Team. The State of Washington has also begun legal filings against Timeshare Exit Team. Many past clients have shared their negative experiences with this company.
Linx Legal has been doing business the right way since 2009. For over 10 years, we have been providing clients the best in timeshare cancellation. We are A+ rated with the BBB and we have nothing but 5-star reviews. The money we receive from clients does not go to advertising. We use these funds to be sure we have the full force of our resources in our process.
We never ask for money on the first call. Linx Legal will only offer you a case if we can help you save thousands of dollars in mortgage and maintenance fees to the timeshare developer. Do not get caught up in another scam that will drain your finances. Contact us today to see if we can help you get out of your timeshare. Linx Legal can be reached in any of the following ways:
- Fill out our full questionnaire for expedited service
- Text CXL to 484848
- Call us toll-free at 1-800-604-3989