Timeshare sales are frequently in the headlines these days since more and more consumers are being “conned” out of their life savings or hard-earned cash. Even after a timeshare is acquired, most consumers personal information is either stolen or sold by others who then carry out a further attack on the consumers.
Resale timeshare scams are on the increase with the promise of having clients waiting to buy owners timeshares. Enticing consumers with intricate promises and complex declarations. The scammers dupe the consumers into believing that they can resell their timeshare on and that they have cash buyers waiting and that the consumer will, of course, make money from the sale.
Resales rarely happen and if they do there is seldom any profit to be made. If you look on eBay, you can buy a timeshare for as little as £1. We at TCA urge you to please bear this in mind if you are thinking of selling or should you receive a cold call informing you that they have “cash” buyers waiting. The call will indeed sound very tempting, however, this is highly likely to be a con.
The common scam is to tell consumers that they have buyers waiting, ask for administration fees upfront and that’s the last the consumer hears from them, or so they think. The next scam is that another company calls the consumer and explains how they have successfully just brought a group action against the scammers, won the case and wait for it…… yes, the consumers involved in the scam have all received compensation. Using slick words such as “consumer associations “and “trust” companies, consumers again pay upfront only to find out this is ANOTHER scam.
At this point, consumers are financially battered and desperate. However, unfortunately, this cycle can repeat itself up to four times, not because the consumer is imprudent, but because they are desperate to terminate this awful web of deceit they have found themselves tangled in.
The Mexican Police are reminding people to be more cautious with online business transactions after a 65-year-old woman lost over £3,000 in a timeshare- reselling scam.
The consumer who owns a timeshare in Mexico recently received a call from a man claiming to be called “Andrew” who said he worked for a company called “International Real Estate Sales” and offered to purchase the woman’s timeshare property in Cancun, for a much higher price than the consumer had originally paid, all she had to do was transfer £3,000. Having transferred the money, all contact from “Andrew” ceased.
Police are warning In the UK we are also plagued by “cold callers” and “scammers” thus, everyone should be wary of unsolicited offers to transact business over the internet and especially in wiring money to non-vetted businesses or persons.
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk