Fighting Fraud
By Better Business Bureau Serving Greater Cleveland
Timeshares and vacation clubs are often synonymous with high-pressure sales. With the sun out and their guard down, vacationers can quickly find themselves on the hook for a life-long commitment. And, while they’re easy to get into, these contracts are incredibly difficult to escape.
BBB has monitored deception in the timeshare industry and warned consumers about timeshare exit companies for nearly half a decade. However, skilled sellers continue to con buyers into unfavorable deals that often worsen when desperate investors offload purchases through the timeshare exit industry. Even worse, some of the victims of this industry live locally. Last year, a North Ridgeville woman reported to BBB about her experience with a timeshare exit company. She called a company named Timeshare Freedom Group who promised an exit to her Diamond Resort Timeshare. The consumer told BBB that ”they required money upfront. It was $4,898 and they (said they) would cancel my contract within 12 months or less. They have disconnected all phones I have for them and emails return back as undeliverable.” Timeshare Freedom Group did not answer the woman’s complaint and has an “F” rating from BBB due to failure to respond to over 190 consumer complaints.
BBB is providing the following tips for anyone considering a timeshare or exit company:
- Start with Trust – Use BBB.org to extensively research timeshare properties, vacation clubs, or exit companies and thoroughly read contracts for language about lifetime commitment, heirs’ obligations, maintenance fee increases, or guarantees.
- Beware of misleading or high-pressure sales tactics – If you feel like someone is trying to push you into a deal, walk away.
- Contact the property management directly – To sell a timeshare, contact the resort directly and see if they have a resale or buyback program.
- Be realistic about what you can get for your timeshare – Most of these contracts are not investments and may return considerably less than you paid.
- If it sounds too good to be true, it is –There are deals to be found on travel, but scammers know consumers want to save money and take advantage.
- Delay paying in full – Be wary of paying timeshare exit companies all fees upfront until services are rendered.
Have additional questions? Reach out to your BBB at 216.241.7678 or [email protected]. Have a scam to report? Report it to BBB.org/ScamTracker.
