The timeshare industry has long been plagued by scammers and fraudsters looking to make a quick buck by pretending to be a part of this legitimate industry. Some of the scams are so complex that it can be hard to believe that anyone would go to such lengths to tell a convincing lie, but they do. Refund and recovery scams are perhaps the most prevalent types of timeshare scams these days. Read on to find out why and how you can protect yourself.
How you are targeted
There are a few ways in which a scammer can get a hold of your details to target you for a scam, but of the most common (and unbelievable) is through something called a “sucker list”. These lists are compiled with the names, addresses, and telephone numbers of people who have bought into scams in the past. These lists are sold to criminals who use the details on them to further their schemes and scams. You may be on one of these lists and not know!
Have you been scammed before?
You see many people who have been part of a small scam never realize that they have, in fact, been scammed. Such incidents often include small sums of money and low-risk ideas. You might, for example, have paid to be included in a bogus raffle or competition, or given money to a fake charity. When such scams are successful people often never think about them again. Scammers may have found your name and details this way, or they may have cut your details from a website you perused whilst looking for a way to cancel your membership. Either way, once they know they have an opening, all a scammer needs is an angle.
Protection from timeshare refunds and recovery scams
When it comes to a refund or recovery scam our advice is very simple; do not trust anyone who approaches you with the claim that they can cancel your timeshare membership. These are legally binding contracts which can generally only be cancelled, so to speak, under specific circumstances (for example if you were mis-sold). If you feel that you have reason for cancellation talk to your timeshare company first and foremost.
Have you been scammed? Tell us all about it.