You would think that with all of the warnings out there then there would be no more scams happening. Well, apparently not.

In Florida alone last year there was something like 19,000 complaints to the attorney general’s office about timeshare resale scams. And that is just the complaints. What about all of the people that got scammed and did not complain.

OK, so here are a bunch of government sites that talk about this whole timeshare resale scam business.

What Government Blogs are Saying about Timeshare Resale Scams

FTC Halts Timeshare Property Resale Scam; Telemarketers Falsely …

www.ftc.gov7/19/11

At the Federal Trade Commission’s request, a federal court has temporarily halted a telemarketing operation that targeted consumers trying to sell their timeshare properties. The defendants allegedly charged consumers thousands of dollars, falsely claiming they had buyers lined up for sales that supposedly would be reviewed and approved by the FTC. As part of its continuing crackdown on con artists who prey upon financially distressed consumers, the FTC seeks to permanently end the defendants’ deceptive practices and make them refund consumers’ money.…

Attorney General Darrell McGraw Warns Timeshare Owners of

www.wvago.gov5/27/11

Responding to an uptick in consumer complaints against several companies, West Virginia Attorney General Darrell McGraw is warning the state’s consumers to beware of bogus timeshare sale scams.

Timeshare-owning consumers have filed complaints with Attorney General McGraw’s office indicating that these companies have called them promising to sell their timeshare and charging $1,200 up to $2,500 in advance fees for this service.

Typically, the scammers send a legitimate-looking contract to be signed and faxed or e-mailed back. Many times the contract and transaction are executed through an online website. The companies fraudulently claim the fees are for advertising, closing, inspection, and transaction costs and require an immediate payment through a credit card or debit card transaction.…

Timely warning on timeshare sales scams

atg.wa.gov7/10/10

Consumers should be aware that some licensed brokers can be part of the upfront fee company, so the best advice is simply to never agree to an upfront fee! Before you decide to sell, take the time to find out approximately what the resale market will bear. Either ask a respected timeshare resale broker such [AGO BLOG MODERATOR'S NOTE: Link to commercial Web site removed per comment policy.] or visit a social network site of timeshare owners such as www.timeshareforums.com to share information and strategies. [AGO BLOG MODERATOR'S RESPONSE: I'm not not familiar with this Web site. Please visit at your own risk.] The most important advice is for a consumer to simply use common sense.. If it sounds too good to be true- it is! Timeshares do not appreciate in value!…

OK, so you have gotten the idea that even the slow pokes at the government have noticed that consumers are being ripped off. It took them long enough.

Now since they have finally seen the light it is your turn. STOP trying to dump your timeshare through these scam operations. You will only lose money.

What Other Blogs are Saying About Timeshare Resale Scams

The Most Common Scams | Direct Transfers Blog

blog.directtransfers.com11/4/11

At Direct Transfers we’re on a mission to raise awareness about timeshare scams. From the timeshare organizations themselves to the scam artists who try to pretend they’ll do something about your timeshare, there’s a lot of …

Conviction in Florida timeshare scam « TimeShare Blog & Reviews

mytimeshareblogs.com9/15/11

Conviction in Florida timeshare scam. Stephen R. Wigginton, U.S. Attorney for the Southern District of Illinois, announced Friday that on Thursday, Ralph Johnson, 34, of Delray Beach, Fla., pleaded guilty to a one-count criminal …

Well that about wraps it up for this post. Just remember that there are a whole lot of people out there ready to steal your money. So be careful.

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.

Jackie:  Exactly. A lot of people are complaining since January. More than 8,000 consumers have complained to the Attorney General’s office in Florida about Timeshare resale companies. Many say they paid these folks to market and sell their Timeshare but wound up deeper in debt.

Mary Louis:  It’s a beautiful resort; probably a golfer’s dream.

Jackie:  Times were good when Mary Louis Annuci bought a little piece of paradise in South Carolina.

Mary Louis:  So I’ve got a lot of money invested in this. And now that I’m on disability, it hurts.

I also have to use oxygen from time to time.

Jackie:  But a disability left Mary Louis desperate to recoup her $14,000 investment. She forked over hundreds of dollars to a company she says promised to sell her Timeshare.

Mary Louis:  I’m out around $800. And right now, I just really can’t afford it.

Jackie:  One year later, this consumer claims she can’t even get her phone calls returned. And she has lots of company.

Kevin:  It’s a real problem for her. We get complaints every month from Timeshare resellers around the area.

Jackie:  Hillsborough Country Consumer Protection’s Kevin Jackson warns the sales pitch to market your Timeshare often contains false claims.

Kevin:  If they have a buyer, great.  Let’s sell the Timeshare and take your commission at the end. Then you’re not guaranteeing them any money upfront.

Jackie:  More than 8,500 consumers have filed Timeshare resale scam related complaints with the Attorney General’s office since January, which is why the AG’s office along with Consumer Protection offices all over the state are warning consumers eager to unload vacation properties.

Mary Louis:  If they want money upfront, don’t deal with them at all. That’s the biggest lesson I learned.

Jackie:  Had Mary Louis checked the company’s records, she would’ve found 130 other consumers had also filed complaints against the same business that took her money.

And it is very easy to check these records on any of these Timeshare resale scam companies. You can contact any one of three places — the Attorney General’s office; the Better Business Bureau; and the Department of Agriculture and Consumer Services.

We can connect you with any one or all of these agencies. All you have to do is go to our website. That’s abcactionnews.com/links. And if you’re having a consumer issue, well, just pick up the phone. Our number here is 866-428NEWS. Or better yet, shoot me an email — jackie@abcactionnews.com.

Joe:  You can buy them all over the globe and consider your slice of paradise. But once you’re done with the Timeshare, selling it can become a messy adventure.

Angie:  You have a high supply; literally, millions of people with Timeshares. And you have the downturn in the economy, people needing to get rid of those Timeshares and those monthly maintenance fees. You’re going to see scam artists take advantage of that.

Joe:  And Angie Barnett, with the Better Business Bureau, says they do it by offering to resell your piece of real estate. She says some shady companies make false promises about what they can do for you, claiming they’ve already matched you with a buyer. Some even charge hefty upfront fees.

Angie:  Consumers are reporting $1,200 up to $2,000 they’re paying upfront to sell a Timeshare. They may not be worth more than $15,000, $20,000.

Joe:  The BBB has seen a spike in complaints as the number of Timeshare resale offers continues to grow. So before you try to offload your property, find a real estate broker who’s licensed in the state where your share is located. Consider going back to the company that sold it to you to see if they can help. And don’t fall for the incentives some companies use to reel you in.

Angie:  The incentives may actually be promises never delivered.

Joe:  Or else your wallet could be opened wide on a real estate deal that never closes. Go to abc15.com/consumeralerts for the latest scams. And email me, jducey@abc15.com, or go to my ABC15 Facebook page with anything we need to know about.

According to the video in today’s ruff economic times many people are unable to continue their yearly maintenance fees. And so they try to sell their timeshare. What they quickly find is that there is not a real market for these properties. And the owner becomes more desperate they start looking for any way that they can unload this property that they do not want.

This video states that the one place to avoid is timeshare resale companies that charge an up front fee. These are usually scams. If you were to call the BBB you would find that many of these companies have a D- or F rating. And just like a report card in school, an F is bad.

The video also states that Smart Money Magazine says to avoid any company that wants an up front fee. And that it is best to try an talk with your resort owner to see if they have a buy back program. They suggest another method would be to try and rent your unit to cover the yearly fee or even donating your timeshare to charity for the tax write off.

Smart Money also suggests that you could try and sell your timeshare yourself by listing it on TUG or on RedWeek.

On the video you are able to hear the conversation between the victim and employees of the firm. What is very interesting is that the caller kept pointing out that even though she was supposedly talking to different people in different departments all the voices were female and they all sounded very much alike.

The caller has recorded multiple conversations with the timeshare resale company. Was given the run around each and every time she called. It finally got to the point where they said they would refund her money. And then they kept telling her that the check would be sent soon. The she was told it would be sent the next day.

And then she was told that anybody that could help her was not in the office that day.

Always remember that anytime you are asked for money up front the chances are very good that you are being scammed. If you take the home resale market as an example, there is never an upfront fee charged by an agent to list and advertise your house.

However, this video is a news report of an actual raid on a timeshare resale telemarketing room in the heart of Disney country – Orlando, Fl.

The police raided the company and detained 20 employees. The police raid confiscated company computers and boxes and boxes of files. Ultimately 4 people were arrested and later released on $2,800 bond.

The police are now investigating the potential paper trail to find victims of this ring of scammers. Will that help the people robbed. Probably not. There ability to get any money back is next to zero. About the same probability of ever actually being able to sell their timeshare.

Will this raid put a dent into the timeshare resale scam business? Probably not! There are hundreds of these timeshare scam operations in the Orlando area alone. Imagine what the number is for the whole sate of Florida and then add in the rest of the country.

The only real way to drive these con artists out of business is for the consumer to become educated enough to avoid the scam. If there is no money to be made then the scammers will move to other targets.

In the Orlando Florida area there are over 200 resale companies taking unsuspecting timeshare owners for large amounts of money. Two examples that were given were for $2,000 and $650.

The companies have the same pitch all of the time. They say that they have a buyer for your unit and all you need to do is pay an upfront fee they will get the deal closed. Of course they are preying on people who want to sell their timeshare either because they cannot afford the fees anymore or they became aware that they were duped when they bought the timeshare in the first place.

The sad truth is that once you signed on the dotted line you are stuck. And that dotted line can either be your initial purchase or the dotted line of the resale company.

You certainly complain to the BBB but all they can do is put your complaint in their records and downgrade the rating of the company. There was one company sited that had a D- rating. You would think that would stop people from using them. Well one of the examples in the video was for a newspaper reporter who should have known better then to buy without doing even a little research.

These companies pray on the needs of their victims. So just be careful of timeshare scams.

Another way to buy a timeshare is to buy one on the reseller market. This is where a timeshare owner is personally selling their own timeshare unit. The odds are that you will save around 90% of the purchase price. So if you find a seller who wants a lot for their timeshare then simply walk away and you can readily find another seller.

However, what you do need to be careful of is the transfer of the timeshare ownership. This transfer is just like any real estate transaction and needs to be handled by professionals.

As a rule the owner of the timeshare has no idea of how to sell you their timeshare and you generally have no idea of what paperwork is needed to complete the transaction.

Just as real estate closings are handled by attorneys or agents of title insurance companies, timeshare sales are handled by timeshare transfer agents. So be sure to select on that has the experience and professional credentials that you need.

There are a number of things that can go wrong if you chose a non-qualified transfer agent. This because the transfer agent needs to work closely with the resort to make sure that the deed is transferred correctly and all maintenance fee are applied correctly.

You are entering into a binding contract. Seek professional help and beware of timeshare buying scams.

This short video talks about timeshare scams that were running rampant in Spain. The speaker on the video is an attorney named Antonio Flores.

He is saying that the investigation in Spain is showing that there are at least 50 companies that are soliciting timeshare owners for resale deals. The basics of the deal are that they have a buyer for your timeshare and all you need do is pay an upfront processing fee and they will take care of the transaction. Of course once you pay the fee that will be the last time you will have any contact with anyone from the company.

Flores says that the estimate is that each of the 50 companies has on average 25 telemarketers cold calling from lists of registered timeshare owners. Flores also states he believes all of these diverse companies are controlled by as few a 4 kingpins.

The bottom line in all of this is not to become involved in any telephone solicitation to sell your timeshare. And more importantly never pay an upfront fee for the opportunity of having your timeshare sold for you.