Timeshare Scams

Timeshare Scams.

These are just a few examples

You're at a timeshare presentation - not having signed for anything - when the saleman asks if he can just check your credit card to see that it's OK. When he returns he makes it very clear that you won't get your card back unless you sign. And making a fuss isn't adviseable as the two large men at the front door are watching you closely.

Timeshare owners are being targetted by Spanish fraudsters saying that they have won a lottery. No such lottery exists.. Those being cold called have previously been cold called by fraudsters pretending that their have sold their timeshare for a massive sum. See here.

The usual "nice lady" promises that you will receive a cheque in payment for the sale of your timeshare and asks that, when you have recieivd the cheque, you pay her the 10% commission for the sale. The bankers cheque arrives issued by a large bank in Spain which you send into your bank. A few days later the bank confirms that the money is in your account. The nice lady calls again to confirm that you have recived the cheque explaining that it will only take a couple of days to clear - would you please wait for about a week and then send them a cheque for the 10%. You send your chque and some three of four weeks later the Spanish Bank cheque is sent back to you by your bank with the word "FORGERY" stamped on it and the bank removes the payment from your account.

"We understand that you have a timeshare. Do you want to rent it or sell it? - we are the experts" says the smoothie on the 'phone. You like what you hear so the conversation moves forward "But we will need your card number/pin number/account number/mothers maiden name etc. to be able to pay you when the deal is done". You, being a sucker, fall for this and are surprised to get a call from your card company/bank a few weeks later saying that an attempt to remove a large amount from your account is being held pending your confirmation.
This is "Indentity Fraud", using timeshare owners lists, which is growing even faster that timeshare fraud.

For those who are going on holiday and maybe tempted to purchase a timeshare it may be worthwhile looking at this site for some background information >> Timeshare Consumers Association