If you own a timeshare you know that crummy feeling you get every year when your maintenance fee comes due.
Not only did you have to pay many thousands of dollars to buy your unit but you have to pay the ever increasing yearly fee just to be able to go on an exchange.
And with economic times being so tough more and more timeshare owners are looking to sell their timeshares.
But that is harder then you were told at the presentation. There are no lines of people pushing and shoving to buy your timeshare.
This is where the timeshare resale scam artists come in and make a killing off of your misfortune.
The Florida Attorney General have received close to 20,000 complaints in the past two years from people who have be defrauded by timeshare resale scam artists.
The following is an excerpt from the Attorney General’s statement.
The proposed legislation including the following provisions:
· A timeshare resale advertiser may not misrepresent a pre-existing interest in the owner’s timeshare.
· A timeshare resale advertiser may not mislead a customer as to the success rate of the advertiser’s sales.
· A timeshare resale advertiser may not provide brokerage or direct sale services.
· A timeshare resale advertiser must honor a cancellation request made within 7 days following a signed agreement.
· A timeshare resale advertiser must provide a full refund by a timeshare owner within 20 days of a valid cancellation request.
· A timeshare resale advertiser must not collect any payment or engage in any resale advertising activities until the timeshare owner delivers a signed written agreement for the services.
· A timeshare resale advertiser must also provide a full disclosure statement printed in bold type, with no smaller than a 12-point font, and printed immediately preceding the space provided for the timeshare owner’s signature.
· A timeshare advertising agreement must be put in writing.
· A company who violates these provisions has committed a violation of the Unfair and Deceptive Trade Practices Act with a penalty not to exceed $15,000 per violation.
To read the full article about timeshare resale scams just click here.
What are other blogs saying:
The following are some blogs that have reviewed the AG Bondi’s remarks and have their own opinions.
Pam Bondi Gets Aggressive With Timeshare Resale Advertisers
Attorney General Pam Bondi joins with State Sen. Andy Gardiner and State Rep. Eric Eisnaugle to tackle timeshare resale advertising fraud.
Publish Date: 10/05/2011 11:02
http://www.sunshineslate.com/2011/10/05/attorney-general-legislators-tackle-timeshare-fraud/
Bondi Pushes For Timeshare Fraud Legislation « CBS Miami
Besieged with thousands of timeshare fraud complaints, Attorney General Pam Bondi and two Florida lawmakers are pushing for a new law to crack down on fraud.
Publish Date: 10/05/2011 11:36
http://miami.cbslocal.com/2011/10/05/bondi-pushes-for-timeshare-fraud-legislation/
Delray man arrested for swindling thousands from elderly timeshare …
His arrest comes two days after Florida Attorney General Pam Bondi announced efforts to pass a law that would toughen restrictions on timeshare resale companies. Complaints about timeshare resale companies in Florida …
Publish Date: 10/07/2011 18:46
http://www.delray-beach.info/delray-man-arrested-for-swindling-thousands-from-elderly-timeshare-owners-sun/
Attorney General Bondi Unveils Legislative Initiative to Protect …
–Attorney General Pam Bondi today joined Senate Majority Leader Andy Gardiner (R-Orlando) and Representative Eric Eisnaugle (R-Orlando) to unveil a legislative initiative that will protect consumers from timeshare resale …
Publish Date: 10/04/2011 17:11
http://4closurefraud.org/2011/10/04/attorney-general-bondi-unveils-legislative-initiative-to-protect-consumers-from-the-number-one-complaint-of-the-past-two-years/
What do You Think?
If you have an opinion on this legislation feel free to comment below.
Remember that Attorney General Pam Bondi is proposing legislation that will protect the rights of private citizens from timeshare resale scam artists.