Timeshare Exit Scams

The news media has featured consumers' stories of timeshare exit scams where timeshare owners and buyers were defrauded for thousands of dollars. These real-life examples of consumers who were scammed by third party resale companies tell a cautionary tale of fraudulent cancellation offers when considering hiring a timeshare exit company. Watch their stories below and learn how you can avoid similar pitfalls and economic losses.

BBB WARNS OF TIMESHARE RESALE SCAMS - ALABAMA (7/10/18)

Be aware of timeshare reselling companies

  • Scammers say they have buyers lined up, but there's always a catch
  • The catch is you have to pay the taxes or maintenance fees upfront
  • Use a legitimate licensed broker to purchase timeshare. Beware sometimes scammers use license numbers of retired brokers
  • Be wary of any upfront fees
  • Verify with real estate commission they have a license
  • Be careful if they want you to wire them money - the companies may not exist

Timeshare owner scammed $35,000 - Cleveland (5/18/17)

BBB says there's more reports of timeshare resale scams

  • It is a red flag if a company solicits you and uses high pressure sales tactics demanding taxes and fees upfront
  • Do your research on the company
  • Don't pay for a promise, never offer cash upfront
  • Tell them to have a nice day and hang up
  • Report the call to the local police


BBB Issues Warnings About Timeshare Scams (8/31/15)

The Better Business Bureau is warning consumer about several timeshare scams

  • Consumers have lost thousands of dollars with timeshare exit companies leading customers to believe they can resell their timeshare and claiming they have a buyer already lined up
  • Consumers pay the timeshare exit company an upfront fee up to $4000, plus taxes of up to $3,000 and a transaction fee up to $3,000
  • The BBB recommends staying away from companies that demand an upfront fee, but to use brokers that only receive a commission after the timeshare sells
  • Timeshare exit companies advertised offices were not where they claimed to be
  • The BBB recommends you research and confirm the address and make sure the company is licensed

Timeshare Exit Company Collapse (9/28/18)

Aconsumer Credit collapse leaves consumers with lost money

  • Aconsumer Credit/timeshare exit company's sudden shutdown leaves unhappy consumers who paid thousands of dollars for services never rendered
  • Aconsumer Credit consumer complaints included lost money and questionable advice that ruins credit
  • The consumer's Timeshare company was not contacted by the timeshare exit company/Aconsumer Credit


Timeshare scammed breast cancer survivor

Denise Fleming shares how she was scammed and which agencies to file complaints with

  • She thought they were legitimate. Her banker and accountant checked them out. They appeared legit
  • They offered a guarantee. They provided proof that they had money in escrow for her and continually asked for more wire transfers
  • Don't lose money like she did. If it sounds too good to be true, it probably is
  • Submit complaints to state's Attorney General, FTC, FBI, Consumer Financial Protection Bureau, US Postal Inspection Service, and Better Business Bureau



ABC ACTION NEWS INVESTIGATES TIMESHARE RESALE FRAUD (10/21/10)

The Florida Attorney General's office is investigating dozens of companies accused of timeshare resale fraud

  • More than 8,500 consumer have issued complaints with the Attorney General in Florida about timeshare resale companies in just ten months' time
  • Consumers paid these companies to sell their timeshare, but ended up deeper in debt
  • The pitch to market your timeshare often contains false claims
  • If they want money upfront, don't deal with them at all
  • It is easy to check the records on these timeshare resale companies through the Better Business Bureau, Attorney General's office and the Florida Department of Agriculture and Consumer Services (for businesses operating in Florida)

3,000 BBB Complaints of Timeshare Buyer and Seller Scams - Austin (3/26/12)

BBB Suggests Tips for Avoiding Timeshare Scams

  • Never wire money
  • Beware of upfront fees
  • Do a cost analysis - does it make sense to sell your timeshare
  • Read all the fine print
  • The FBI is involved in international timeshare scams
  • Check out Econsumer.gov for information on international scams
  • Do your homework, check licenses
  • If it sounds too good to be true, it probably is