A 42-year-old man pleaded guilty to operating a timeshare fraud scheme that defrauded over 3.5 million dollars from dozens of people across California and Florida. His crimes included using high-pressure sales tactics and misleading information to get people to buy, sell or trade their timeshare properties.
The timeshare industry is booming and many new consumers are considering making the purchase. However, before you make that decision it is important to be informed about the industry. This article will give you a better idea about what it is all about and what to look for when purchasing.
Timeshare owners beat travel inflation by paying for a lifetime of vacations up-front. But with airfares, hotel rates and gas prices through the roof, it’s no wonder that some owners are looking to sell their timeshares. Fortunately, it is not as difficult as one might think to find a buyer for your property.
One of the biggest challenges facing timeshares is how to legally cancel them. This is a problem that affects many Baby Boomers who purchased their timeshares during good economic times and now find themselves with a financial obligation that they can’t afford. The best option for many is to simply transfer their timeshare to a family member or friend, but that isn’t always an option for everyone.
Until recently, there has been no way to legally cancel a timeshare contract in the United States. But in 2021, Hilton Grand Vacations won a landmark ruling that makes it possible to do just that. This decision comes after HGV sued third-party timeshare exit companies, claiming they are misrepresenting their services to consumers and fraudulently causing foreclosures on timeshare contracts.
For over a decade, Sandy LaValley has been helping consumers stay out of the timeshare scams that are plaguing the industry. She has helped over a thousand people, from those who are thinking about buying to those who want to sell their timeshares or even get rid of them. Her advice is that before you buy or sell your timeshare, you should be fully educated about the industry and how to spot a scammer.
ARDA and ARDA-ROC have stepped up their advocacy efforts by working with regulators to ensure that the timeshare industry maintains a high standard of transparency and consumer protection for timeshare buyers and sellers. With the help of their members, they have been able to successfully advocate for changes that will benefit the consumer and allow timeshares to continue to be a great vacation choice for millions of families.