Have you been the victim of Timeshare Fraud?
Many people have fallen prey to timeshare fraud…
We can help! This list below outlines several of the more common areas of timeshare fraud, timeshare scams and timeshare sales misrepresentations. Each of the items on this list will enable us to help you cancel your timeshare. Call today to discuss your specific situation and let us help get you out of your timeshare.
Below is a list of the most common types of timeshare fraud, scams and misrepresentations
- Using a timeshare as an investment: Many times the sales person will tell you that your timeshare will increase in value, sell at a greater price, or due to location it is worth more than other locations. This is, as you have probably learned by now, not accurate.
- The ability to rent or resell your timeshare: Another common misrepresentation is that you will be able to:
- sell your timeshare for a profit- that the timeshare company will purchase it from you- that you can rent your timeshare- sell your points or weeks in order to cover maintenance fees, mortgage payments, and any other costs associated with your timeshare.
- Payment of your timeshare maintenance fees: You have to understand what the maintenance fees associated with your timeshare ownership will be and that they do go up with time. If the sales person stated that your maintenance fees never go up or that your maintenance fees can be offset must be clarified.
- The sales person creating a false sense of urgency to purchase: If the sales person made you think that if you did not buy at the time of the presentation you would not be able to get the same deal, or that will never be able to take the tour/presentation again this HAS to be true or it is fraud.
- The length of the tour or presentation: Timeshare tours are supposed to last no longer than 90 minutes. In the event that your tour/presentation exceeded 3 hours there it may be considered coercion.
- Your ability to cancel your timeshare: All timeshare owners must have the right to fully understand all of the terms that go with their timeshare purchase; including their right to cancel their timeshare contract. The time period for rescission must be clearly documented, explained, and signed by all owners.
- Your ability to exchange your timeshare: All timeshare owners must be given the opportunity to understand what an exchange is, how it works, and any fees that are associated with exchanges. Any mention to never paying exchange fees must be true.
- Additional ‘meetings’ such as dinner parties, etc.: Any events, gatherings, etc. designed to be part of the timeshare sales process other than a clearly defined timeshare sales presentation is against regulations. Dinner parties or any other name for a reason to get the owners to meet for a sales presentation.
- Tax incentives available as a result of purchasing your timeshare: If there any mention of a timeshare or the trip/tour/presentation being a tax break or incentive this information must be true or it is likely a case of fraud.
- The timeshare closing process: Just as when you close on a home or other real estate, any and all documents that require a signature or an initial must have been fully explained by the closing agent. Many times this process will be rushed or hurried to get the owners out the door without asking questions. That is a violation of timeshare regulations.
Have Any Of These Happened To You?
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