Attorney General Warns Consumers of Timeshare Resale Scams
We’re in the heart of summer travel season, and there’s a fresh warning circulating for timeshare consumers: Be on the lookout for scammers attempting to “trick timeshare owners into paying up-front fees for timeshare resales that never happen.”
That message comes to us from Georgia’s Attorney General Chris Carr, who recently issued a warning that a…
New iteration of a common timeshare scam is attempting to dupe owners out of their money.
As the office of the Attorney General put it in a press release, brought to our attention by timeshare news and information site Inside the Gate:
“Here is how it typically works. The timeshare owners receive a phone call or email from someone purportedly working for a travel company. The caller tells the consumers that there is a buyer interested in purchasing their timeshare property.
While the timeshare sale is supposedly pending, the scammers tell the consumers there are fees and/or taxes connected with the sale that must be paid up-front. Consumers are instructed to wire the money to an agent, often located in another country. The fraudulent company continues to collect other fees from the sellers until either informing victims that the sale has fallen through, or until the victims say they’ve had enough and want out of the deal. The consumers then discover they are unable to recuperate their money.”
To make matters worse, the AG is indicating that…
“Some con artists are even committing corporate identity theft,” hijacking existing brand names and information in order to make themselves appear legitimate to consumers.
To help protect current timeshare owners from the threat of scammers, the AG issued several “tips and warnings,” worth considering:
“Any request to wire money in connection with a timeshare resale or rental is a big sign of fraud.Once the money is wired, there is almost no chance of recovering it…
Be suspicious of any uninvited solicitations or offers to buy or resell your timeshare, particularly those that seem ‘too good to be true…’
Avoid paying money to a reseller up-front… Get refund policies and promises in writing…
Be wary of high-pressure sales tactics; they often indicate a scam.”
And, finally, the AG reminds consumers in Georgia to reach out to their state’s consumer protection agencies if they suspect that they have been targeted by scammers. For consumers located in other states, we encourage you to research the contact information for your own state’s Attorney General and other consumer protection authorities; remember, as well, that there are federal agencies and independent organizations, such as the BBB, dedicated to helping protect consumers from the threat of scams and fraud.
For more, you may wish to read the full piece available at Inside the Gate; Law.com’s Daily Report also has more on AG Carr’s warning to consumers, available here.
Other Timeshare Articles of Interest:
- The Five Stages of a Timeshare Resale Scam
- ‘What’s the Most Common Timeshare Scam?’
- Is It a Timeshare Scam? Watch Out for These Warning Signs
Led by Attorney Michael D. Finn with 50 years of experience, the Finn Law Group is a consumer protection firm specializing in timeshare law. Our lawyers understand vacation ownership as well as the many pitfalls of the secondary market of timeshare resales. If you feel you have been victimized by a timeshare company, contact our offices for a free consultation. Know your rights as a consumer and don’t hesitate to drop us a line with any questions or concerns.