Sadly, though they are a dying breed, timeshare scams are not quite extinct yet; there are still opportunists who seek to take advantage of desperate timeshare owners seeking to unload their timeshares. The most sneaky of all scams are the timeshare rescue scams.
What is a timeshare rescue scam?
A timeshare rescue scam is sometimes called a timeshare cancellation scam, and the main thrust is this; they approach timeshare owners and claim to be able to cancel their timeshare contract without the consent of the resort.
This is simply untrue; unless you are still within the legal cooling period (often called the recission period) you cannot simply cancel your timeshare contract.
Beware timeshare rescue scams
If anyone tries to tell you this is possible, tread with extreme caution as there are, sadly, more and more companies, individuals, and even lawyers who are out to make a quick buck at the expense of another. After all, when rescue scammers “work” they charge a fee (sometimes a rather impressive one) for their “services”.
How do timeshare rescue scams work?
Firstly, the scammer identifies a target that suits their needs; this is generally a person who needs to be rid of their timeshare for one reason or another. When you search ways to cancel your timeshare contract online such people will take notice.
Once the timeshare rescue scammer have identified and made contact with their victim the scammers then begin persuading their target that the contract can be legally cancelled without repercussion, and without the agreement of the resort. Usually they will advise that you stop paying your maintenance fees; this is both a huge red flag and a big mistake; this will leave you in debt and damage your credit rating.
To add insult to injury they will ask for payment and stroll of scot-free while leaving you to clean up the damage. Worse still, if you default on your timeshare responsibilities because of their deceit it will be you, not they, who faces legal action and repercussion from the resort and timeshare provider.
What’s the solution to timeshare rescue scams?
The best protection, of course, is prevention, and if you want to avoid being taken in by a rescue/cancellation scammer there are a few things you should do.
First and foremost, if you need to be rid of your timeshare or have any concerns about your ability to keep up with payments talk directly to your resort. Secondly, you should keep in mind that once the recission, or cooling off, period has ended you can no longer simply back out of your contract. If anyone claims otherwise treat them with caution. Thirdly, never believe any paperwork sent to you by a cancellation company; always check directly with the resort to ensure that your contract has been cancelled if you are told this is the case. Finally, never, ever pay for services before you have confirmation.
If you follow these rules of thumb you have a much better chance of avoiding timeshare rescue scams and the fraudsters who work them on unsuspecting timeshare owners.
