Beware of Timeshare Compensation Scams
Unfortunately, the timeshare industry is one with many problems, and to add to the issues, it is also rife with scams, including timeshare compensation scams. Knowing that many who agree to take on timeshare contracts are vulnerable to pressure and unhappy with their circumstances, con artists set their sights on trying to scam even more money out of trusting, unsuspecting people. It is an utterly shameful situation, but it’s important that we acknowledge it, and recognise those who are trying to make a difference and put things right.
There are, of course, legitimate companies who are there to help those who have been misled by unscrupulous timeshare companies.. Companies like ours, whose business is to tackle the troublemakers by helping people to exit their timeshare and get the justice they deserve through timeshare compensation. It can be difficult to spot the companies which are legitimate here to help you, or the liars who are just out to make a quick buck from you. That’s why we’re offering you this article, to help you ascertain whether a company is a friend or foe and how you can avoid falling into another timeshare trap.
1. Unsolicited Calls
There have been multiple instances of timeshare owners receiving ‘cold calls’ claiming to be a reputable timeshare compensation company, a Spanish bank, or even claiming to be a Spanish Court, misleading consumers by telling them that they are due timeshare compensation. If somebody calls you, either by landline or on your mobile, who you have not explicitly requested a call from, hang up. They may sound friendly and trustworthy, but don’t be fooled, take everything they say with a pinch of salt. No legitimate company will ever call you out of the blue and it is never advised to trust a cold caller.
During these calls, they may empathise with the troubles you have had with your timeshare, and express disgust at the misselling that led you to this situation. This is a manipulation to gain your trust. They may tell you that they have a buyer for your timeshare, or that they can help you get compensation. The latter is a timeshare compensation scam, and the former is a timeshare selling scam. Either way, they will say whatever they need to obtain your card details, whether it be for ‘legal fees’ or ‘court costs’. If you do pay the exit fee, you may receive a letter telling you that your timeshare compensation has been granted and that you are out of your contract, only to later receive your maintenance bill as usual and find that you are still bound by your contract after all. The fraudsters have done nothing but take your money. In many cases, once the money is handed over, you will never hear from them again. If you get a call similar to this, please hang up the phone.
Only trust a call from a timeshare compensation company if you have contacted them first and they are returning your query. At Timeshare Compensation, we will never reach out to people first, however, we do have a contact form to fill in on our website, we will then call consumers back who have registered their interest.
2. Letters In The Post
‘Congratulations,’ the letter may say. ‘You have been awarded compensation for your missold timeshare!’ If you have been considering raising a timeshare compensation case anyway, you may be relieved to think that someone has already taken care of it and done the hard work for you. But, rest assured, they haven’t. You will think that you’re free of your timeshare, but you will still be very much bound to your contract despite what the letter might say, they will not have done anything to help you.
With this kind of timeshare compensation scam, they will usually tell you in the letter, that as they’ve handled your case for you already, all that you need to do is to pay them for the legal fees. We will say this time and time again, do not pay the fees!
Whilst it’s usual to collect a fee for the legal work even when going through a reputable timeshare compensation company, sometimes ahead of time, the fact that they have contacted you out of the blue, and you haven’t even talked over your case with them should be a big warning light. In order to legitimately be granted timeshare compensation, your circumstances need to be fully evaluated by your timeshare advisor, considering all aspects of your timeshare contract, this cannot be done if you have not shared the information with the company yourself.
Never hand your money over to a company that has approached you first. If they have found out your address, without you giving it to them, it is a sign that it is a scam that has accessed your data due to being a timeshare customer.
This timeshare compensation scam is so common, yet it is amazing how many people still fall for it. An official-looking letter claiming it can offer you compensation and get you out of your timeshare might seem too good to be true, that’s because it probably is and it will be a timeshare compensation scam. If you receive a letter from a company you have not approached, we suggest throwing it straight in the bin and not engaging with the company in any way.
An online company specialising in timeshare compensation may look incredibly glossy and professional on the face of it, but don’t be deceived. Scammers are getting better and better at creating the illusion that they are a legitimate company and are putting more effort and time into their deception. Don’t be fooled into thinking that a company is legitimate, just because it have a fancy official website. Hidden small print on the website and online reviews, may tell you a different story. If you are looking into a timeshare compensation company, we recommend doing your research first and look into online reviews of the website. If there are negative stories from other consumers, say no and do not follow the lead. Positive reviews from real consumers and proof of cases where timeshare compensation have been won, are good indicators of a legitimate company and not a timeshare compensation scam.
That being said, beware of bad press that comes from a timeshare company itself. Legitimate companies that challenge the lies and malpractices of timeshare companies put themselves in the firing line, and timeshare resorts will not stop at anything to denounce them. With so many timeshare compensation cases being won against big timeshare companies, they are running scared and trying every trick in the book to regain their reputation. Be sure to know the difference between a genuine customer complaint, and one from a defensive timeshare company. It is not unusual to find slanderous articles about legitimate timeshare compensation companies, that are falsely written by timeshare resorts to make them seem like they are a scam. Timeshare companies know that the more consumers are getting justice and winning timeshare compensation again the resorts, the more money they will have to pay out. By spreading lies that timeshare compensation companies are a scam, they are hoping people will avoid going through the process.
We suggest following these rules so that you don’t get caught out by a timeshare compensation scam.
- Be wary of any company that approaches you first without you reaching out to them – A company contacting you out of the blue, is a sure sign that they aren’t a legitimate company.
- Whatever you do, never pay upfront fees before you have received the service – The likelihood is that once you have given away your money, you won’t receive the service.
- Do your research. Don’t be tricked by a fancy address or professional looking website, scammers can hide behind glossy sites – Take a look for real life reviews on the service.
- If it sounds too good to be true, it probably is.
Avoiding timeshare compensation scams may sound tricky, and we’ll admit that we are against a lot of competition from companies who do not have the ethical standards that we do. Nonetheless, if you do your research before picking legal experts to help with your timeshare compensation claim, you will avoid these scams and be on your way to freedom from timeshare. If you are in any doubt about communication you have had with anyone regarding timeshare, it is important to get expert advice before handing over money or proceeding any further with a purchase. If you think you have been caught by a timeshare compensation scam or need advice as to whether you meet the criteria for timeshare compensation, please get in touch with us. Our team at Timeshare Compensation know the ins and outs of timeshare law and know all about the scams that are out there. Give us a call and chat it through if you’re concerned – we are always there to help!