Simple Steps To Avoid Timeshare Resale Scams How You Can Improve Your Credit Score Here ph
Image courtesy of osseous More and more consumers are finding themselves caught in a situation where they aren’t able to sell, or even give away, their timeshare. In a desperate attempt to get rid of their timeshare units, many consumers turn to timeshare resale companies in hopes of getting out of them. Taking this step often results in even more money lost.
Pam Bondi, the Florida Attorney General, notes that timeshare resale fraud is the state’s number one consumer complaint with more than 19,000 complaints since 2009. That is more than then next 3 categories of complaints she has received combined over the same period: mortgage complaints (5,854), loan modification complaints (4,147) and collection agency complaints (3,800). Con artists know that many timeshare owners are desperate to escape their timeshare trap which makes them easy targets. There are three simple steps that anyone can take to avoid being a victim of a timeshare resale scam: 1. Never pay an up-front fee. If the timeshare resale company requires a payment up-front before the timeshare sale is final, walk away. The timeshare resale company may call the fee by any number of different names such as an appraisal fee, a market analysis fee, an initial advertising fee or something similar. If there is any type of fee that requires a prepayment before the timeshare is sold, the consumer is likely to lose that money and never get their timeshare sold.
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2. Check with the Better Business Bureau. Do a little research to see if the timeshare resale company has any complaints against it. If they do, or they are not a member of the BBB, this is another sign that the consumer should walk away. 3. Get a contract in writing. The consumer should make sure to receive a written contract explicitly explaining what the timeshare resale company will do and read it carefully. It is essential to make sure that the contract says the resale company only gets paid once the timeshare has been sold and taken out of the consumer’s name. If the consumer doesn’t understand any part of the contract, it should never be signed. Following these three simple steps when it comes to timeshare resale companies will help ensure that the consumer isn’t yet another victim of the many timeshare scams out there.
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Do's and Dont's of the Credit Card Game Here pf Futhermore: Simple Steps To Avoid Timeshare Resale Scams
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