Should You Upgrade or Buy a New Timeshare to Get Rid of Your Old One?
Taking vacations is a luxury that people work hard to achieve. When people purchase a timeshare it is because they want to invest in their future enjoyment. If they experience problems with their timeshare (ie. lack of availability, fraudulent offers of discounts, poor customer service, etc.), it is very disheartening as they have invested a lot of their hard-earned money in good faith to the resort company. When victims of timeshare scam try to complain or to cancel their contracts, they are often talked into purchasing a new timeshare or upgrading their current one in hopes of rectifying their original problem. Numerous clients have contacted us to cancel, not just one timeshare contract, but 2, 3 or even 4 purchase agreements!
The following are just a few scenarios of how purchasers were persuaded into buying multiple timeshares due to their frustration with their original timeshare:
1. When they first experienced problems with their timeshare, they contacted the timeshare company to complain. The timeshare company claimed that the problems they were experiencing (ie. lack of availability of their type of suites, lack of dates available, special offers promised during the sales presentation were invalid) were due to the fact that they had purchased a lower value timeshare package. The salespeople then continue to convince them to purchase an upgrade so that they can take full advantage of the resort, or have more flexibility in availability of suites and dates. They sign a new contract, which voids the initial contract, and agree to a new purchase price. Later they realize that the same problems they experienced previously are still occurring, even with their upgraded package. Not only had they lost their original investment, but they were also bound to a new contract with the dysfunctional company.
2. On other occasions, clients regret their original purchase due to dissatisfaction with their timeshare or vacation plan. They may feel like they have been scammed into purchasing into a fraudulent agreement. While on another holiday they are approached to go to a timeshare presentation with a different resort company. The salesperson appeals to them by empathizing with their disappointment with their original timeshare. He offers them equity for their old timeshare and promises to take it over from them. The client is assured that they will no longer be responsible for their original timeshare if they purchase the timeshare with the new company. They sign a new contract and a trade-in equity agreement for the old timeshare. Regrettably, later they find out that their old timeshare was never taken over, and they are now responsible for maintaining two timeshares. We have heard of people who have had this situation several times, leaving them with up to 5 active timeshares and all the fees that go along with these purchases.
3. Another variation of timeshare scam is when the new timeshare company promises that they can sell the client’s old timeshare, often for greater than the purchase price of the timeshare with the new company. They are verbally advised that the sale is guaranteed if they purchase the new timeshare; however, this information is not included in the written contract for the new timeshare. The clients are later referred to a resale agency who charges an additional listing fee. The resale agencies will list the old timeshare on their website, but don’t actually guarantee timeshare sales, and in the majority of cases the clients are not able to sell their original timeshare. The clients are left with multiple timeshare contracts and responsibilities, and the loss of the listing fee to the resale agency.
The solution to a non-functional timeshare is not to purchase another timeshare or upgrade the existing one. It is very likely that this will result in being stuck with multiple fraudulent timeshare plans and a very costly financial burden.
Don’t get scammed twice! Contact a professional company to assist you in your timeshare matter. The best option to resolve a timeshare scam situation is to cancel your contract and get your money reimbursed. This way your original investment is recovered so that you can spend your money as you desire. For more information please Visit : www.timesharescam.com
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