Unfortunately, timeshare rescue scams are getting to be quite common as unscrupulous companies target, in particular, desperate timeshare owners (looking to unload their timeshares for whatever reason). If you are thinking of using a company to help you “cancel” your timeshare, be very wary. First, search online for complaints and contact your local consumer protection agencies as well as the Attorney General’s Office to see if there are any complaints on file.
Timeshare rescue scams – the sad truth
It’s a sad truth that more and more companies, and even lawyers, are seeking to scam unwary timeshare owners. What’s the scam, you ask? Well, rescue scammers claim that they are able to cancel a valid timeshare contract, even when they are no longer within the legal cooling-off period without the consent of the resort. The truth is, they can’t.
No way to cancel a timeshare
There is no lawful way to cancel a valid timeshare contract without the consent of the resort, and if anyone tells you otherwise you should be very wary. Any attempts to violate your agreement with the resort are considered unlawful interferences with a contractual relationship. Cancellation, or “rescue”, scammers will try to convince you that this is possible even after the recission period or cooling-off period (the time allocated by law in which you can change your mind with no repercussion). Why? Well, there’s money to be made; after all, that’s how scams work.
How do timeshare rescue scams work?
Timeshare cancellation fraudsters will often tell you that you can stop paying the minimum maintenance fees; big mistake. By following their advice, you will breach your contract and cause damage to your credit rating. Worse still you could face legal action while the scammers walk away unscathed!
To add insult to injury these dishonest individuals working for timeshare rescue scams will demand a fee for their services; whether this fee is upfront or paid in installments varies, but there is always a price. Often this fee is no petty sum; some scammers even promise a no win, no fee arrangement. They may even go to the lengths of forging paperwork to convince you that your contract has been cancelled.
What’s the solution to timeshare rescue scams?
In order to protect yourself from being the victim of a timeshare rescue scam you should take a moment to read and remember this easy rule of thumb; if a company, lawyer, or individual claims they can cancel your membership you should be very wary. It’s very likely, almost entirely likely, that they are running a scam to get your hard-earned cash! Be particularly wary of those who tell you to stop paying fees, and be sure that you have evidence directly from the resort that your timeshare has been cancelled before you pay any money. If you believe what they tell you, you may end up defaulting which will have a huge impact on your credit rating and leave you open to legal action.
Don’t be fooled; question, double check, and protect yourself from timeshare rescue scams!