Jul 10

TIMESHARE FRAUD — TOP 7 SCAMS

CONSUMER REPORTS TO A CONSUMER PROTECTION ATTORNEY

 

Timeshare AttorneysTheAbramsFirm.com

TIMESHARE FRAUD

The Abrams Firm has conducted over 3200 consumer interviews of timeshare owners, almost all Pro Bono. With an 82% Fraud Rate in the aftermarket industry, consumers seeking a legal timeshare divestment were faced with a daunting task, and we have yet to find a legitimate resale program where consumers actually make great profits.

Victims of Timeshare Fraud scams in literally thousands of these consumer reports, evidence deceptive tactics used to trick them.

Below you will find a list of some common concerns timeshare victims have faced. If you are a victim of Timeshare Fraud, the Abrams Firm has experience with over 2100 consumers that have successfully divested from their timeshare.  Give The Abrams Firm a call at 360-918-8196 and ask for an appointment to speak with John Abrams directly for a complimentary consultation with a seasoned Timeshare Lawyer.


TIMESHARE FRAUD — TOP 7 SCAMS

CONSUMER REPORTS TO A CONSUMER PROTECTION ATTORNEY

 

Timeshare Fraud — Timeshare Scam #1: Timeshare is a Good Financial Investment

Timeshare sales can be totally legitimate. Some end up being worth exactly what they were originally promising. This is true if the timeshare is really worth many thousands or even an honest representation that the timeshare value is zero. As long as the consumer fully understands the true facts of the gainful investment potential (not very common), or alternatively the reality that the timeshare sale was exclusively based on lifestyle (with no mention, whatsoever, of potential profits), then the deal is legitimate. Unfortunately for some, Timeshares may not  be a good financial investment, and if a salesperson knows that, and in order to make a sale they promise huge profits that don’t exist, this constitutes a consumer fraud.

Timeshare Fraud — Timeshare Scam #2: The Timeshare is Easy to Resell

Often the consumer concern is “What if I ever need to sell my timeshare?” For some people, the purchase & sale of vacation ownership is a new experience. So many people simply want to calculate their potential downside risk. In many cases fast answers are given to financial planning questions concerning a rainy day fund or cashing-in when they get too old to travel, etc. Like promises of huge future profits, this may not be true. No matter what some says to sell you (something like a big fat check for listing your timeshare for sale), it doesn’t mean that the consumer automatically makes money or can sell their timeshare easily, and thus such promises are highly deceptive to consumers.

Timeshare Fraud — Timeshare Scam #3: We’ll Buy Your Timeshare or Sell your Timeshare

Whether it was a buy or a resale program, the common theme is typically that the owner shall make great profits through the sale of a timeshare down the road. Victims of these misrepresentations report claims of programs to buy you timeshare, or use of a Timeshare Resale program if you ever need to sell your timeshare someday. However, in almost all cases the consumer ask later only to find that the program does not exist (or was canceled between the time of their purchase in their call).  Another common theme is that in almost every consumer report thus far, the promise of these programs and profits are completely fabricated (the Abrams firm has conducted over 3200 consumer interviews, many of  which were Pro Bono, and has yet to find a legitimate program where consumers make these great profits for their timeshares).

Timeshare Fraud — Timeshare Scam #4: Rent a Timeshare for a Profit

Sometimes the consumer has said, “NO” for literally hours, but a sales representatives may push even harder, and have stories about Timeshare Rental Profits to pay your mortgage, maintenance, and make thousands in profits. Some consumers report that they were not even really interested, but were lured by promises of yearly income from rental profits made over the amount of the annual fees, or in some cases both the annual maintenance fees and their monthly mortgage payments would be paid with the yearly rental income, along with some extra money that would be sent to the consumer.

Timeshare Fraud — Timeshare Scam #5: Sell a Timeshare for a Profit

In this timeshare sales scam, the consumer already owns a timeshare, and the timeshare sales rep leads the consumer to believe that they will buy [unwanted] timeshares or sell a timeshare for them making a huge sum of money. In this scheme, the money acquired from the sale of the old timeshare usually is more than the new timeshare (because they gave you such a great, once-in-a-lifetime, deal). So the consumer is told they will profit from the net transaction of the two timeshares, meaning that they will put several thousand dollars in their pocket. However, the reality later discovered is that there is no old timeshare purchase, and at best a Listing Company (sham) that takes Upfront Fees to Sell a Timeshare and never sells your (or anybody’s) timeshare. Since the consumer already paid many thousands of dollars, they are now out that money, as well as the increased debt for the timeshares.

Timeshare Fraud — Timeshare Scam #6: HUGE Discounts on airfare, cruises, etc.

Sometimes commissioned sales reps can over exaggerate the benefits to entice a sale. A sales rep might write down a bunch of financial numbers, but to increase desirability and make a sale, they  explain how you can also get you hugely discounted cruises, airfare, hotels, car rentals and/or regular hotels and it is exclaimed that these prices are slashed 50% or up to 75% less of what it would usually cost on the Internet. However, typically the savings are readily available on the Internet, and with some digging can be even cheaper than the claimed “discounts”.

Timeshare Fraud — Timeshare Scam #7: Tax Advantages that are bad tax and legal advice

This particular sham involves claims of timeshare tax benefits through the purchase of a timeshare interest, and often are equated to the Mortgage Interest Deduction that consumers get for their primary residence. There is one problem however, the promised tax advantages for purchasing a timeshare are nonexistent as far as most folks know, so please (please) check with the IRS before you listen to a bogus promise from anybody else. In fact, don’t get Tax Law advisement from anyone else but the IRS…  except a Tax Lawyer.

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A complementary discussion with a Consumer Protection Attorney will determine if you may have a good case for Timeshare Divestment. If appropriate* (*and if we have time availability for your case), you will have all the information you need to decide if you want to take advantage of our services… Then it’s all up to you. The good news is, even if you decide to engage timeshare divestment services, your maximum exposure shall be a $500 to $750 retainer. Since the Abrams Firm was hired for this service, there will be 2 to 3 hours of direct interviews with a Consumer Lawyer, and countless hours by a skilled Timeshare Attorney that are devoted to document drafting and negotiated settlement conferences directly with multimillion and billion-dollar resorts. You can control the direction and decisions for your timeshare divestment.

Call The Abrams Firm at 360-918-8196 and ask for an appointment to speak with John Abrams directly for a complimentary consultation with a seasoned Timeshare Lawyer.