Timeshare scams affect thousands of people every year.
The reason people fall for timeshare scams is because they are looking for a way out of their timeshare commitment. It could be that the maintenance fees are too high. It might be that they simply cannot afford to make the payments on the timeshare. So, because they want to get out of this commitment, scammers take advantage of this unfortunate situation.
Before I get into the details of this subject and a legitimate timeshare exit company you can use, I want to link you to a timeshare scam database.
This database has the names, email addresses and phone numbers of these illegitimate companies. This way you can check a company you might be thinking of working with against this timeshare scam database.
This link also has a toll-free number you can call if you think you’re getting scammed.
These scammers are good.
What do you need to know in order to protect yourself?
Tactics Timeshare Scam Artists Employ
The United States Security and Exchange Commission (SEC) has a warning about timeshare scammers targeting timeshare owners in Mexico.
Here are some things to look for to make sure you don’t get scammed:
- They want money up-front before they begin any work
- They use high-pressure tactics to convince you to use them
- They might claim to have a “special permit” from the SEC (there is no such thing)
- Watch out for unsolicited offers to help you through phone, email or mail to your home
- Promises to sell your timeshare quickly
- Claims that there is a “huge” market for timeshare resales (we go into detail about this subject in this article)
- Be wary if the company is not based in the United States (if you are an American timeshare holder)
What You Should Know When Evaluating a Timeshare Release Company
- Verify their reputation using the Better Business Bureau (BBB), Trustpilot, your state’s attorney general or your location consumer protection agency in your country
- Fees – find out when you will be expected to pay money. If it’s expected to give them money to begin the work (or wire them money), be very, very cautious
- Get all agreements in writing BEFORE giving any money
- Take those documents to a lawyer to be reviewed
Are There Legitimate Timeshare Exit Companies?
We recommend Timeshare Specialists. They are an affiliate partner of this website. If you choose to use them, we do receive a small commission for the referral.
Aside from our recommendation, why are we confident Timeshare Specialists don’t fall under the category of a timeshare scammer?
Let’s use the criteria we just laid out.
1. Verify Their Reputation
With Timeshare Specialists, no money is exchanged until AFTER they’ve found someone to take your timeshare off your hands.
3. Time It Takes to Sell Your Timeshare
Scammers guarantee they’ll be able to get you out of your timeshare.
Timeshare Specialists admits that it is difficult to get out of a timeshare. Scam artists promise that it’s easy because they want your money. Which will probably be expected before they begin work. This is not the case with Timeshare Specialists.
4. Located In the United States
Timeshare Specialists is located in Bozeman, Montana, United States. So there’s no worry that you’re dealing with a scam artist from outside the country.
Ready To Get Free of Your Timeshare?
Now that you know how to detect a timeshare scam, if you think you’re ready to start getting out of yours, give Timeshare Specialists a call.
Just fill out this form and they’ll contact you to see what options are available to you.