Timeshare News

BBB Reports Hundreds Of Timeshare Consumers Losing $2.2 Million to Missouri Exit Companies

June 14, 2019
BBB Reports Hundreds Of Timeshare Consumers Losing $2.2 Million to Missouri Exit Companies

O n June 6, 2019 the Missouri Better Business Bureau (BBB) issued a report about the fraudulent activities of timeshare exit companies in and around Springfield, Missouri. According to the study, the BBB has collected more than 350 complaints from timeshare consumers against 10 of the most frequently used timeshare exit companies in the Springfield area from January 2017 to March 2019. This is a key finding in a four-month long BBB investigation.

These Missouri timeshare exit companies have been taking advantage of timeshare consumers by charging them colossal upfront fees for services and promises that were never delivered on. Victims of this alleged timeshare exit scam have confirmed they paid more than $2.2 million for work that was never completed or, in some cases, never even started.

The report, issued by the BBB, followed multiple cases where timeshare consumers paid anywhere from $1,000 to $30,000 to timeshare exit companies without receiving satisfaction. In some of these cases, timeshare consumers told the BBB that the timeshare exit companies turned their cases over to law firms that failed to offer a solution to their problem.

The timeshare owners being taken advantage of are mostly senior citizens who live on a fixed income. An older couple in their 80's told BBB that they paid $18,000 to a timeshare exit company and have not received any plan or confirmation after the company promised they would get them out of their timeshare.

The American Resort Development Association - Resort Owner's Coalition (ARDA-ROC) has commended the BBB for exposing these Missouri timeshare exit companies and recommends that timeshare owners read the full report "to better understand the unscrupulous and deceptive practices in the timeshare exit industry."

It's extremely important for timeshare owners to take the proper steps to safely and responsibly exit their timeshare so they don't fall victim to a timeshare exit scam. Before deciding to exit your timeshare, you should first consider all of your options and contact your timeshare company first. If you do decide to exit, follow ARDA's checklist to sell for helpful information on how to go about selling or cancelling your timeshare. ARDA has also provided an in-depth look at what it means to responsibly exit your timeshare, highlighting the importance of researching timeshare exit companies before agreeing to do business with them.

For more information on how to safely exit your timeshare, click here.

To learn more from our source, click here.

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