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The Pros And Cons Of Timeshares

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Timeshares are one of those ideas that look great on paper. Rather than sinking tens or hundreds of thousands of dollars into a vacation home, a group of people collectively own a property and use it on a schedule. The idea is so attractive that timeshare sales were around $8.6 billion in 2015.

Despite that growth, the industry as a whole is shot through deceptive practices and outright timeshare fraud. The FTC took action against a timeshare reseller in December 2016 for allegedly scamming consumers out of $15 million dollars.

In February 2017, consumers were warned about a Georgia-based reseller that may have scammed customers out of $200,000 to as much as $1 million.

In the face of so much timeshare fraud, you may be wondering how to …show more content…

An organization sets up a supposed charity to which people can donate their unwanted timeshare. In this case, the organization does take possession of the timeshare, but at a price.

People who donate are charged excessive processing fees by a company owned by the same people who run the supposed charity.
Avoiding Timeshare Fraud

The people most likely to fall victim to timeshare fraud are those who find their timeshare a serious burden. Timeshare maintenance costs, for example, tend to go up every year and a change in your financial circumstance can make those fees problematic. Here are some things you can do avoid the scams.

Be Cynical

Almost every timeshare scam works by offering you the thing you want. It's a sad truth that life rarely provides you the thing you want without demanding a lot of effort in return. If you get an offer that looks a little too great, assume it is.

Due Diligence

Never take anyone's word for it that their offer, their service or their company is legitimate. Look into the company and the person to make sure they exist. Your state's consumer protection office is a good place to start the

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