Here at TimeshareCompensation.co.uk we hear from many timeshare owners looking for a way out of their timeshare, a question that we regularly get is “Why can’t we just sell our timeshare? That way we could get some of our money back.” Unfortunately, not only is it extremely difficult to sell on an unwanted timeshare, there are also a lot of companies out there looking to scam timeshare owners just to line their own pockets.
Whether you are looking to get rid of your timeshare, due to financial issues or you just no longer use it, there is no reason for to fall prey to a resale scammer. We are going to make you aware of some of the tricks they use before advising you that there may be an alternative way out.
Timeshare resale scammers target people looking to sell their timeshare with a variety of promises. They may tell you that they already have someone wanting to buy your timeshare or offer assurances that they can definitely sell it. These scammers will tell you that all you need to do is pay an upfront fee to cover administration costs, services, maintenance, etc. They may ask you to pay via a wire transfer, cash or cashier’s cheque. These types of transactions are extremely difficult for law enforcement to recover, so your money will be as good as gone. Once they have received your money the scammer simply disappears. There’s no sale or purchase of your timeshare, so not only are you still stuck with your timeshare, you will be out hundreds if not thousands of your hard earned money.
Unfortunately, the scam doesn’t always end there. You may then be contacted by another company, that also happens to be fraudulent. This second company may contact you out of the blue offering to help you recover your ‘lost’ money but this can only happen for another upfront fee.
Be on your guard as timeshares are notoriously hard to sell and if something sounds too good to be true it usually is!
We are not saying that all timeshare resale companies are in the business of trying to scam people, we just believe that you should be made aware that there are such companies out there. If you really believe selling your timeshare is what is right for you, make sure to thoroughly research any company that you consider using. Dealing with an unwanted timeshare can be stressful enough without worrying about being scammed as well.
An alternate option to consider when trying to rid yourself of the burden of unwanted timeshare, is to look into exiting your timeshare. Timeshare Compensation have helped many people exit their timeshare and with some even eligible for compensation. Exiting your timeshare may not get you any money back but as per above, reselling doesn’t offer any guarantees either.
Contact TimeshareCompensation.co.uk today on 0800 046 5855 to discuss what your options are. If it is found that you contract contains illegal clauses or you were mis-sold your timeshare to begin with, not only could you exit your timeshare agreement you may also be entitled to make a claim for compensation.
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