BBB Continues to Make Alerts About Timeshare Exit Scam Companies
August 20, 2019
There are a lot of fraudulent industries out there but few have seen the growth achieved by the
timeshare exit scam industry. The scope of fraud in the industry is so widespread that the Better Business Bureau performed a
study focused solely on the exit companies operating out of Missouri and Southern Illinois. The results were staggering.
Since January 2016, timeshare owners from 46 states have filed
more than 700 complaints with BBB against Missouri-based
timeshare exit companies with reported losses exceeding $2
calls out the top 10 fraudulent
by name. Most of them no longer exist because
once a company racks up too many complaints and begins drawing
suspicion, the company is shut down and a new one is started.
These same fraudsters then continue the same cycle of scamming
Many of these fraudulent companies
have even found ways to portray false BBB ratings.
One Development Group
is a particularly bold example. The
not BBB accredited
and does not have a BBB rating. However,
this did not stop Square One from advertising an A+ BBB rating
on their website. As it turns out, BBB was made aware of this
in December 2018 and immediately sent a cease and desist.
Square One assured them they would stop claiming to have an A+
rating, but in May 2019, BBB was notified that Square One was
still displaying the BBB seal and an A+ rating on marketing
materials. Beware of companies claiming false BBB ratings that
make themselves appear legitimate.
If you are contacted
by a company like Square One, check the
even if the company claims to have a stellar rating. You should
also contact your timeshare company to find out about your
agreeing to work with any kind of timeshare exit company. And
check out ARDAâ€™s
for more information about changing