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What the FBI Wants You to Know about Timeshare Scams

11/21/2012

7 Comments

 

Federal Bureau of Investigation Taking Active Steps Against Timeshare Fraud

Timeshare scams are nothing new to the industry, especially in Florida where the industry has such a strong foothold as a popular American leisure destination. The great majority of timeshare scams occur within the state of Florida, putting anyone involved with a timeshare there at risk. For a long time, these scams were somewhat overlooked by national entities, causing consumer outrage and the public to be defrauded of large sums of money. While there are many types of timeshare scams, the FBI is currently focusing on resale scams, warning timeshare owners to be aware of these largely telemarketing-based schemes.

Because the economy has taken such a drastically negative turn in recent years, timeshare owners who were once thriving and able to afford the many fees associated with timeshare ownership can no longer afford to pay. Because of the increased number of owners trying to sell timeshares, resale scams have soared, especially in recent months in the state of florida. Many struggling timeshare owners are trying to sell in order to get out of their timeshare contracts, and this is where the timeshare resale scams come in to play.

Drastic Increase in Consumer Complaints of Resale Scams

Timeshare Resale Scams
Timeshare Scams
The primary reason the FBI is on high alert for resale scams is that there was a huge number of complaints filed with their Internet Crime Complaint Center (IC3) earlier this year. Apparently, owners trying to sell are contacted by telemarketers either by phone or email claiming that they had a buyer for the unwanted timeshare. These perpetrators of these timeshare scams are either criminals or employees of the actual resale companies. 

Promising a quick sale, (typically between 60-90 days) these scammers received large sums of money and no sales were made. The biggest red flag is asking for an upfront fee while claiming a decision needs to be made quickly. Owners looking to sell a timeshare should always be aware of the dangers associated with providing credit card information to those claiming they can facilitate a timeshare sale.

7 Comments
Violet Cooper link
10/7/2013 05:43:17 am

Timeshares need to be looked up as a purchase and not an investment. Regardless of how timeshares are presented, they don´t perform as well as a house or stock investment. If you look around the resale market for timeshares on websites like EBay, Redweek, or TUGBBS will find that you can buy a timeshare for far less money than what the first owner purchased it for.

Reply
Mikasa Lin link
7/31/2014 03:29:55 am

The timeshare industry has been into the lion’s mouth for the last couple of years, and it has generated lots of controversy and discussions in many forums and blogs on the web. However, since we’re living an economic downturn, anyone would expect that the timeshare sales collapse, but instead of that the sales seem to be increasing… but this comes with a trap: timeshare scams are increasing too. That leads us to the question: then, why keep people investing on timeshares?

Reply
Harriet Mendler link
8/18/2014 03:26:25 am

Thousands of International travelers, particularly from the US and Canada, have fallen victims of timeshare fraud while vacationing. Resort developers hire skilled salesmen to represent their timeshares as many different attractive packages, such as financial investments, deeded properties, or vacation clubs, just to increase their sales.

Reply
oceanofgamesm.com link
3/12/2019 08:51:34 am

The timeshare industry has been into the lion’s mouth for the last couple of years, and it has generated lots of controversy and discussions in many forums and blogs on the web. However, since we’re living an economic downturn, anyone would expect that the timeshare sales collapse, but instead of that the sales seem to be increasing… but this comes with a trap: timeshare scams are increasing too. That leads us to the question: then, why keep people investing on timeshares?

Reply
Susan Luiz
4/10/2019 11:23:27 pm

Has anyone ever heard of the "RCI Trust"? We are at an RCI resort and they are telling us that we can get out of our timeshares by signing them over and they will take care of all the paperwork. They signed us up for an RCI credit card that has $9,000 put on it for the legal fees and such to do this and they told us that now if we still want to go on a vacation we will have a $300 dollar yearly fee for 30,000 points and will not pay any exchange fees but if we need more points we can buy them for $.01 cents each. I don't get it! How can this be right? Does anyone have any information in regards to this?

Reply
Get Into PC - Free Download Your Desired Apps 2019 link
8/21/2019 01:10:44 pm

The timeshare industry has been into the lion’s mouth for the last couple of years, and it has generated lots of controversy and discussions in many forums and blogs on the web. However, since we’re living an economic downturn, anyone would expect that the timeshare sales collapse, but instead of that the sales seem to be increasing… but this comes with a trap: timeshare scams are increasing too. That leads us to the question: then, why keep people investing on timeshares?

Reply
oceanofgamesy.com link
12/26/2019 07:54:01 am

The timeshare industry has been into the lion’s mouth for the last couple of years, and it has generated lots of controversy and discussions in many forums and blogs on the web. However, since we’re living an economic downturn, anyone would expect that the timeshare sales collapse, but instead of that the sales seem to be increasing… but this comes with a trap: timeshare scams are increasing too. That leads us to the question: then, why keep people investing on timeshares?

Reply



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