A timeshare is an arrangement where people purchase weeks in the year, at a given resort, that guarantees them a high-quality holiday experience. Spain and Portugal were particularly popular destinations for timeshare scams, with the Canary Islands featuring prominently.
There are different types of products: points-based, weeks-based, seasonal, fractional or a combination, that offers flexibility and a variety of options.
However, with more affordable holiday options available, timeshares are becoming less popular.
Due to this unpopularity, scammers are tactical with their approach, they will generally send a letter, email or message you on social media regarding a competition you don’t remember entering, saying you have won a free holiday. In return they want you to watch a short presentation. They may even approach you in person whilst you are on holiday to persuade you to come back for free.
This may sound like a great offer, however, if it seems too good to be true, then it probably is! No-one makes a profit by giving away free holidays for just watching a presentation. These presentations are designed to be ruthless, the scam company pressurise people into signing a timeshare contract by not letting them leave until they do so. These high pressure sales tactics mean that people don’t read the small print, as they just want to leave. What is often written in the small print includes hidden fees or taxes and limited availability of dates.
In order for you not to find yourself in this situation, follow our tips:
If you receive an unsolicited call from a stranger who offer you a timeshare, or tell you you have won a free holiday, immediately hang up, this is a scam. Cold-calls are the most telling indicator that it is a timeshare scam.
Leave the timeshare presentation
If you end up attending a timeshare presentation, don’t panic. Remember you can leave at any time, no matter how much the scam company will pressurise you to stay. If they give you a contract, DON’T sign it straight away, take it home and read it carefully. A trustworthy company will be happy to wait for your decision.
Never make an upfront fee
With a timeshare scam, there is almost always an upfront fee. Whether the scam company call it a deposit, marketing fees, advance commission or even prepaid maintenance costs, you should never send any type of upfront fee.
If you have had attended a timeshare presentation and have signed the contract and now want to cancel it and get your money back, get in touch with Timeshare Help. We could help terminate maintenance fees and make a claim to get your money back that you have spent. We work on a no win no fee basis so if we are unsuccessful you don’t need to pay us a penny.