As you are probably well aware, timeshare resale scams are some of the most common and potentially costly consumer frauds out there. In an attempt to help protect timeshare owners who want to sell their properties from these scams, many states have begun introducing legislation that will help to expose frauds. However, as it becomes easier to sniff out scams they will try to find ways to take advantage of timeshare owners, and many have begun to “double dip”.
A fairly new tactic, “double dipping” is when timeshare resale scams steal money from an owner and then later return for more. Usually, they follow the usual scheme that involves making empty promises of fast sales to owners while requiring them to pay upfront fees. Once they have secured the funds and the owner becomes aware they have been scammed, the same company then gets in touch with the owner a second time, only this time the claim to be able to help them recover the money, again for a nominal fee. The unsuspecting owner believes they are paying to get help, but in reality they have been scammed twice by the same company.
As if owning a timeshare wasn’t stressful enough, now you not only have to worry about sales scams when trying to sell the property but also the threat of being scammed twice. We have already told you how to effectively avoid resale scams by only using reliable resources and following up on prospective companies before you agree to anything, but how can you avoid the “double dip”?
As with resale scams, the best way to identify and avoid recovery scams is to hold your ground and refuse to work with companies until you determine their reputation and are confident they are able to help you and won’t just rip you off. And NEVER pay upfront fees for ANYTHING! Taking the same precautions for timeshare scam recovery as you would for scams can help not only protect your money, but also help you sell your timeshare faster and more effectively.
About Donna Connelly
