Articles

How You Know if You're a Victim of a Timeshare Scam

by Legal S. Timeshare Legal Action

Timeshare law can be confusing for the typical timeshare owner, and the resort developers like it this way.


Just when you think you got it down pat and know how vacation clubs work, the resort throws you a curve-ball and leaves you scratching your head, thinking "how can they get away with this?". You just tried to book a vacation date at the resort for your family, and a resort rep says, "sorry, your unit is not available for this time slot".

A good timeshare attorney knows that this can irritate vacation consumers and leave you scrambling for help.

When a timeshare owner is wondering how to cancel a timeshare , and might feel neglected by the rules of timeshare law entirely, rest assured that you're not alone in your desire to get out of a bad situation and back into the flow of a confident life. A vacation club attorney can provide details necessary and provide a steady process on how to get out of a timeshare and how to cancel a timeshare contract.

How Many People Own a Timeshare?

Just over 4% of American households own a timeshare, and when combined that with the estimated total of 1,700 vacation club resorts in the country, one can see how widespread vacation club ownership is throughout the country. Only about 20% of vacation club owners are happy with their membership. The average of age of timeshare owners is around 56 years old. When one considers the long-standing situation of a timeshare fraud, timeshare attorneys say this is an issue that needs to be dealt with sooner rather than later.

Where are Most Vacation Clubs Located?

Although timeshares exist all over the United States, Canada, Mexico and Caribbean, there are certain locations with a higher concentration than others. Studies have shown an eye-popping 28% of American timeshares located in Florida by itself. If you want to know how to get rid of a timeshare in Florida or anywhere else, the first step one needs to take is hiring a vacation club attorney experienced in timeshare law issues.

Why do many Timeshare Owners want to Cancel?

The United States is seeing an huge influx of people wanting nothing more than to exit their timeshare contract. Financial hardship is the major reason many people want out of the agreement. An industry study recently conducted by Ernst and Young saw over half of reclaimed timeshares (also known as properties that are reverted back to the developer) coming from foreclosure.

More and more timeshare owners attempt to find a way to get out of a vacation club contract. A timeshare, simply put, is allowing many vacationers to use the unit under the contract. While this may seem great and legitimate, many are finding that the negative aspects of timeshare membership outweigh the positives. Frauds and scams saturate the timeshare industry as a whole, which can drain money out of one's pocket and leave owners reaching out for legal help.

One owner reports that he owned 72 points with a major resort developer. The HOA dues were a whopping 950 quarterly. Resort staff told him his vacation clubs had gone bankrupt and is now owned by another resort company. They told him that the HOA Fees would be $1,600 per year. $900 of that would go towards our airfare including international. He was given a tablet that he was told he would get a 3-4 day stay at Orlando, Palm Springs, or Hawaii, at 5-6 days each. His wife's credit card payment is overwhelming. He did not get a break on a one-time $9,000 HOA charge by upgrading the timeshare ownership after upgrade. He wants to get out of this timeshare scam.

We thought we won a free vacation from a concert lobby, but realized we would be brought in for a time share presentation. We spent around 4-5 hours getting tours and information about the resort and when we told them we couldn't afford the mortgage they were trying to sell us they offered us a home resort with a much lower price of 30,000 and we agreed. They told us they aren't like other timeshares because it's to own not lease so we would have it forever, not thinking about the fact that that meant we would also have the property fees forever and the interest rate they gave us at 17% will have us paying a total of 40k for this timeshare.

We only started making payments in October 2015 but just purchased a home and realized that this was a terrible decision. Now we are faced with just giving them our money forever or trying to get help out of it but the prices for lawyers are also in the thousands so I hope we are able to help and at a reasonable price. I am also deployed overseas right now but will call an attorney when I get back.

How Do Timeshare Owners Exit their Contract?

A timeshare contract is not very easy to get out of. Many companies will coerce and pressure their buyers into staying, using "owner meetings" to lure them with upgrade incentives, that leave many owners questioning if there's a better vacation product that's available. Studies have seen over 85% of timeshare buyers actively regretting their purchase. They cite everything from money to fear to intimidation as to why it's not working out for them. If you have experienced any of the above issues, a vacation club lawyer can help you get rid of the timeshare contract for good.

Can a Timeshare Attorney Do the Work for Me?

When the typical price of a new vacation club can be as high as 30,000 dollars, there's even more reason not to keep paying the huge maintenance and special assessment fees. The timeshare industry is a billion dollar industry that is driven by misinformation, misleading or fraudulent claims, and hard sell tactics, which often makes the timeshare owner too intimidated to consult with a timeshare lawyer. A recent survey saw over 85% of vacation club owners claiming high maintenance fees as a reason for wanting to get rid of their contract. Another half identified these fees as their biggest reason for exiting the membership.

What to know the best way to exit a timeshare? Timeshare lawyers are very familiar with how the resort developer scams work and can get you on a fast process to fight back against the resort and return your hard-earned money paid to the resort. Let a timeshare cancellation attorney give help you get back the peace of mind you deserve.


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About Legal S. Freshman   Timeshare Legal Action

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Joined APSense since, June 26th, 2020, From Palm Springs, United States.

Created on Nov 13th 2020 11:11. Viewed 188 times.

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