Timeshare Fraud

Unfortunately, there people everywhere trying to take advantage of a good situation. Timeshares are no different. Scams, while not all that common, are a definitive reality. Frauds are attempted by a number of sources, including timeshare exchange companies as well as individual timeshare salesmen. The first method of separating oneself from these illegal activities is to obtain the ability to identify them. While there are thousands of different scams that can and have occurred and it would be impossible to identify them all, there are a few common trends that seem to repeatedly take place amongst fraudulent transactions.

Often times, timeshare salesmen will offer you perks or incentives, many of which appear to be innocent gestures. For example, they may contact you and claim that they will give you a motorboat if you attend a simple seminar put on by them. Most people, stricken by the thought of a lucrative opportunity, will gladly attend this seminar. Once there, the company informs you that you need to pay a nominal shipping fee for the boat. A bit perturbed, yet still incredibly interested, you pay the charge without much thought. A week or so later, instead of seeing a van with a boat attached pull into your driveway, a package is delivered to you containing a small inflatable raft with an even smaller motor. Even worse, the cost of shipping greatly outweighs the value of the product that you received.

Another popular timeshare scam is for an exchange company to take your deposit, then "go out of business," thus claiming your money without reciprocating. This usually only occurs with smaller, lesser known companies, for they can fly under the radar and go unnoticed with your money.

Fraud can be difficult to identify, so how does one protect themselves from such a fate? There are several tips that are available from a variety of resources. For a start, stick with the larger, more reputable companies. For the most part, they are a fairly safe bet. Also check around for references; try to get in touch with people who have dealt with specific companies and get feedback first hand.

Another good practice for any contractual situations: always read the fine print, especially if a company is offering any incentives. Better yet, have an attorney read the fine print as well, for they will undoubtedly have more experience and will be able to spot anything that seems out of the ordinary or disingenuous.

In addition, always, know exactly what your contract entails. Do not skip to the bottom and sign, and do not skim the contents. Read carefully, once again have your attorney do the same, and make sure you agree to all of the terms recited in the contract before you sign. Feel free to ask the company questions, it is highly recommended, for they should have no problem explaining things to both the client and the attorney. If they do not feel comfortable talking to an attorney, they should be discarded immediately.

Common sense and patience is the general trend when looking out for timeshare fraud. A bit of research and observation combined with a helpful attorney will usually result in a successful business transaction and leave the buyer feeling satisfied.