For weeks now, we have been covering the news here in the United States as more and more states come forward to express their concerns about growing problems with timeshare resale scams. These frauds are quickly becoming the number one consumer complaint in the country, even nudging out insurance fraud and credit card fraud. But the United States aren’t the only ones dealing with these scams, as countries like Britain have reported an increase in these frauds over recent years.
Britain has such an issue with timeshare scams that one of the biggest frauds of all time, a Ponzi-like scheme where a man swindled millions out of thousands of victims who thought they were investing in timeshare properties, comes from the region. And in recent news, two British men are still awaiting trial in a large timeshare resale scam that landed one of them in a notorious Hungarian prison.
Timeshare resale scams overseas operate in much the same way as they do here in the United States. The schemers contact timeshare owners who are trying to sell their properties offering to help get rid of their timeshare quickly – all the owner has to do is pay upfront for the services. The fraudsters then either take the money and run or do very little to try to get the property sold, leaving the owner out potentially thousands of dollars and still in possession of their timeshare.
Whether you are trying to sell a timeshare in the United States or in any other country, it is vitally important that you know who you are working with. Research companies thoroughly to ensure you are working with reputable companies and never pay upfront fees for their services. Doing so will help you not only avoid scams, but also sell your timeshare quickly, safely, and with as little stress and hassle to you as possible.