Things You Should Know Before You Exit Your Timeshare!

DON’T FALL PREY TO A TIMESHARE RESALE SCAM

Be aware of upfront fees and “money back guarantees”. There are countless Australian Securities Investment Commission (ASIC) and Australian Competition and Consumer Commission (ACCC) complaints about fraudulent timeshare exit companies taking consumers’ money and not actually selling their timeshare. These companies collect thousands of dollars from unsuspecting consumers for anything from supposed exit strategies, resort maintenance/levy fees, legal fees, title transfer fees, third-party advertising, promotion fees and closing costs.

Be very cautious of unsolicited callers spruiking their sales prowess and requesting your credit card details. They may well be fraudsters trying to take your hard earned dollars!

Also, when travelling overseas be wary of timeshare spruikers offering to help you exit your timeshare and asking you to pay many thousands of dollars in upfront fees to allow them to do this.  We have one customer who has lost US$20,000.00 in Hawaii falling to this scam and the was audacious enough to request another US$1000.00 over the phone for legal fees.

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Timeshare Scam Warning

Despite most people having good intentions there are still several people out there who will scam or fleece you out of as much money as they are able to.

We suggest that you always check with ATHOC (“Australian Timeshare Holiday Ownership Council”) or ASIC (“Australian Securities Investment Commission”) before any paperwork is signed or if you think you have been scammed. Please click here for links to ATHOC and ASIC.

Please be wary of anything that looks too good to be true. If someone calls or emails you promising to buy your timeshare or help you exit from your current timeshare club, it is, in all likelihood, a scam. They may even have all your details and pretend to be from your own timeshare club, but you can rest assured that if it sounds too good to be true, it usually is!

Timeshare Scam Warning