Timeshare Owners Get Duped Into Phony Deals

June 25, 2012

Denver, CO – June 25, 2012 – The Better Business Bureau (BBB) hears from timeshare owners on a consistent basis who say companies that claim to help sell or take over their timeshare have ripped them off. It is very common while on vacation to be offered a timeshare; an arrangement of shared ownership of a vacation property where owners get to use the property during certain timeframes. It may sound like a great deal at the time, and those who vacation often may get their money’s worth. Problems occur, however, when owners want to sell their timeshare.

“If you want to sell your timeshare, your best bet is to do it yourself. Ask the resort for information on how to sell your shares through their bulletins or newsletters,” advises Dale Mingilton, President and CEO of the BBB Serving Denver/Boulder. “Sadly, BBB complaints nationwide show that when consumers pay companies up front to list, sell or “transfer” their timeshare, they simply get taken for their money.”

The BBB Serving Denver/Boulder has reviews on numerous timeshare companies that have F-ratings with the BBB, the lowest rating possible. Many of these companies use fake Colorado addresses and their actual whereabouts are unknown.

Thousands of complaints have been filed against timeshare companies with BBBs nationwide in the past year. Most complainants state they have paid a large fee upfront to have their timeshare sold, listed or to have the deed transferred or “taken over,” but get no such service in return. Complainants state they cannot get their money back.

The BBB advises those who interested in timeshares to understand the terms of the purchase clearly and to find out what options are available to them if they ever want to sell their shares. The BBB advises those who already own timeshares to use caution in responding to any offer that claims to be able to help get you out of your timeshare, especially for fee. Visit www.denver.bbb.org for reviews on timeshare companies and for more information about avoiding related scams.

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About the BBB

The BBB is an unbiased nonprofit organization that sets and upholds high standards for fair and honest business behavior. Businesses that earn BBB Accreditation contractually agree and adhere to the organization’s high standards of ethical business behavior. The BBB provides objective advice, BBB Business Reviews , BBB Charity Reports and educational information on topics affecting marketplace trust. To further promote trust, your BBB also offers dispute resolution services for consumers and businesses. The first BBB was founded in 1912. Today, over 100 BBBs serve communities across the U.S. and Canada. Please visit www.denver.bbb.org for more information.