For anyone who may have been enticed into attending a timeshare presentation they will be familiar with the dangers of high-pressure sales pitches of timeshare salespeople. Unfortunately, timeshare owners not only suffer because they are largely mis-sold their contracts in the first place at high pressure sales presentations, but they are then targeted by unscrupulous fraudsters looking to steal money from them for fake or illusory services that do not exist, or they have no intention of performing.
They target people who are desperate to get rid of their unwanted timeshares, and because of this desperation a lot of people fall victim to scams. Timeshare scams are extremely common and cause a lot of distress to victims who can lose thousands of pounds at the hands of unscrupulous companies. It leaves owners, understandably, not knowing where to go or who to turn to next.
We often hear from people who have suffered at the hands of fraudulent timeshare exit companies. They take people’s money and run, never to be heard from again or they continue to demand money from vulnerable people who believe the individual is trying to help them. If you or anyone you know has suffered financial stress at the hands of a fraudulent company or individual, all is not lost and you could still get your money back, even if the company has ceased trading. Claims Experts 4U are well versed in dealing with these types of claims and our expert team have great success in claiming victim’s money back.
Eventually scam companies do get noticed, but it is not until after multiple people have been targeted, victimised, and lost thousands. Unfortunately, scamming timeshare owners is an easy thing to do for someone who knows how the system works. All they have to do is get hold of a list of timeshare owners, normally purchased through people working at resorts, and start cold calling them making false promises. The internet is full of stories from people who have lost thousands in timeshare scams, the effects can be devastating to an individual who has probably already suffered financial hardship due to their timeshare.
Sometimes it can be difficult to detect who is trustworthy and who is not. You may be approached via an unsolicited phone call, email, or social media. The important thing to remember is that not all companies are acting in bad faith but there are some key things to help you tell the difference.
If someone contacts you out of the blue claiming to be able to get your money back or terminate your timeshare, ask them how they got your details. Cold calling is now illegal in the UK so anyone calling you in this manner has no regard for the law and is likely acting in bad faith.
Only use a reputable authorised company, we speak to clients daily, who have been through the turmoil of a timeshare scam. It can leave people substantially out of pocket, financially strained and sometimes in debt. With so much at stake it pays to do a bit of research. Is the company you are thinking of working with regulated by anyone? Sometimes they say they are but check this out too as this is very common. You can check the Financial Conduct Authority register for registered companies and your local trading standards.
Finally, if you do find yourself the victim of a scam or you have been cold called by a company claiming they can help you, report them. If the authorities are made aware of rogue companies and people complain they can investigate and possibly take action to stop future potential vulnerable people from being victimised.