Timeshare Exit Scams are rife within the UK. Over the past five years, thousands of vulnerable people have paid and lost millions.
How do timeshare owners keep falling for the same old scams?
Due to the unprecedented amounts of cold calls that timeshare owners receive, the lack of regulated advice, and the financial predicament that the timeshare industry left people in, it is no wonder that timeshare owners do not know where to turn.
A large percentage of the British timeshare owner base is age sixty and above, many of whom are considered vulnerable. Fake timeshare exit and claim companies, mainly based in Tenerife and Spain, are targetting these clients and scaring them into spending money on counterfeit services that are either not needed or not provided.
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What tactics do criminals use to influence timeshare owners?
- The initial cold call, email or text will be from an official-sounding company that seemingly already knows that the client used to or still owns a timeshare. They will use names such as; The Anti Money Laundering Agency, Timeshare Audit and Control Panel, Timeshare Consumer Advocacy, or any other name that promotes the sense of officialdom. These names are changed regularly, and the same people will call you back under different names, week after week.
- Scammers will tell you that you still own your Timeshare, even if you don't! Scammers will try and convince you that the termination of your contract isn't 'official', that you have maintenance fees accruing, and that your family will inherit your debt.
They may tell you:
- Your account is just suspended
- That the debt has been passed to the company that has taken over at the resort
- That due to the UK leaving the EU, your running out of time
- That you are entitled to huge amounts of compensation
- That the company that you previously dealt with is blacklisted
It's essential to remember that cold-calling criminals will say absolutely anything to convince to give them money. So the only way they can carry on committing fraud is if you listen!
- COLD CALL = CUT THE CALL
- CUT THE CALL= FRAUD PREVENTION
Get in touch if you think you have been scammed and want independent advice on the best course of action.
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