The Better Business Bureau has compiled a top 10 list of consumer scams based on complaints it collects.
Coming in number 4 on a list that includes debt relief rip-offs, work at home and job cons, is timeshare scams. The method is almost always the same. Timeshare sellers are asked to pay an upfront fee while an unscrupulous company does nothing to sell the timeshare.
Consumers who do their homework know that timeshare have little or know resale value so anyone who says they have buyers for timeshares or claim they can sell it, are likely lying.
People who own timeshares often enjoy them for a number of years but sometimes life circumstances, such as illness, death in the family, retirement or divorce alter an owner’s ability to use and enjoy it year after year. Sometimes rising maintenance fees make continued timeshare ownership cost prohibitive.
For people in those circumstances, it is important to find a company that is highly rated by the Better Business Bureau. They will work to transfer the timeshare legally and will relieve owners of the financial burden unused timeshares often bring.