How ‘true’ is the guaranteed resale offer from TRUE VALID?

True Valid, a resale company that is becoming very active lately has been cold calling a lot of consumers in the past weeks.

Their website www.truevalid.com registered in February 2011 explains the ins and outs of the timeshare industry and information for interested buyers and sellers.

The address details are M J Financial Services, 44-48 Magdalen Street, Norwich,NR3 1JU and the telephone number displayed is  0845 3813818 a number that seems to have changed lately as previously they used the number : 01942 410666. The area code is Wigan not Norwich, so where are they?

What they are not telling on the website is that after an first contact with the timeshare owner asking if he wants to sell, there is a second call made quickly after the first one.

On this second call they explain they have the buyer lined up, his money in a bank account and the only thing to do is to pay £850 as a retainer fee / insurance liability by the timeshare owner and in 4 to 6 weeks the sale will be finalized.

When asked for what kind of guarantee of having the sale successfully finalized the True Valid agent explained that of course no sale ever is guaranteed but in the event the sale didn’t go through they would refund the money and paying by credit card is protected anyway…

If it is illegal to take a deposit per the New Timeshare Directive implemented on the 23rd of February this year (http://mindtimeshare.wordpress.com/2011/06/21/visiting-europe-this-summer-it%E2%80%99s-time-to-know-your-rights/) , why are they still doing this and then even give the consumer the impression they are “protected” on their payment? A sale of 4 to 6 weeks processing…that’s far over the established 14 days cooling off period.

Is there anybody out there who has successfully sold their timeshare in this way?

Or have you been called by True Valid and paid a deposit for a sale that didn’t go through?

Please let us know!

About mindtimeshare

Mindtimeshare is registered as a Spanish Association - reg number: G-98401524. Mindtimeshare provides assistance to timeshare owners who have been defrauded by holiday clubs and bogus resale companies. The Mindtimeshare project was launched in February 2011. After dealing with timeshare members over several years who had been defrauded by numerous bogus companies and for large amounts of money, I considered launching an Organisation to help timeshare owners that have been targeted by bogus companies. On this blog you can find information about the different active scam companies and their “modus operandi” and also place comments, ask questions and see comments from other consumers who have the same doubts or have been through the same experience. Mindtimeshare has resulted in a huge success and has received the back up from not only timeshare consumers but also from the professionals in the timeshare Industry. Mindtimeshare helps timeshare owners who have been scammed by bogus Discount Holiday Clubs; bogus cash back companies; fraudulent timeshare resale companies; bogus class action companies and false lawyers and notaries. We offer professional answers and advice to Timeshare users. If you want to send an email instead of posting a comment on the blog please do so by emailing: customercare@mindtimeshare.com
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17 Responses to How ‘true’ is the guaranteed resale offer from TRUE VALID?

  1. Christopher Rimmer says:

    I too have been contacted by this company for my DWVC (3 year time limited Discovery) membership taken out in Fuengirola in 2000. I was conned onto paying £995 ‘Insurance’ by credit card but smelled a rat especially when the emailed papers I was asked to sign approving the payment did not ring true as genuine. Fortunately I got the money back through my Credit Card provider. Recently I have been getting answerphone messages asking to contact them as the have my funds available. Yesterday I decided to ring back and see what they were saying. I was emailed a form 214 in Spanish (with my address shown inaccurately) which a lady called Vivien explained was a Spanish tax form for paying the 16% tax £1,080 on my funds (£6,750) that needs paying to release them by courior delivered bankers draft. I was to pay this tax by Moneygram via the post office (being charged £40 for the privilege to Yacine Ameur 6B Avda Manolette, Senorio De Aloha (This address appears to be in Marbella). I was then given a long explanation of how to get this back through inland revenue in England. You guessed it – I shall not be following this one up.

    • Hi Christopher,
      Thanks for the detailed message.
      Money gram to pay the tax man, can it get any worse with these people?
      Luckily you are not paying and even better you got the deposit back already.
      When they call again, better hang up as all they tell is lies.
      Kind regards
      Customer Care

  2. Clive H. Litten says:

    Yes I have been stupidly duped as well, only I did not use a credit card but a debit card, fool,
    my contact was a Debbie Ward giving all,the same story as other people have reported in, and the paper work that was returned to me from Truevalid was signed by a Rebecca Straw, at the time , back in April of this year, I thought it was all genuine . I now realise that it has been a con-Is there anything I can do.They have taken me for £750.00
    Clive H. Litten

    • Hi Clive,
      We are really sorry to hear you paid this scam company.
      With regards to the debit card, there are 120 days for a refund claim from the day the transaction was made, so not sure if you are still on time.
      We are sending you the info by email today and see how we can help you further.
      Kind regards
      Customer Care

    • Clive, we have tried several times to send you a message by email but the message bounces back. Please send us an email with the address you want us to use.
      Regards
      Customer Care

  3. Tony Old says:

    I have also been really stupid enough to fall for the same scam except that I have gone even further than the first two ‘registration fee’ (£965) and ‘legal fee’ (£1900) after being contacted by Susan Hendon who explained that we were now awaiting release of the full payment but to get release there was now a ‘non-refundable’ payment of Euros 605.
    I was asked to make a Western Union transfer to (as I was told) solicitors ‘James Paul & Davies’ in Fuengirola, Malaga but I should have smelt the final rat when the lady at Western Union stated that through their system you can only pay to the person and not a company. Stupidly I removed the & and sent it.

    • Hi Tony,
      I am really sorry to hear that you fell for the trap of True Valid and has send them money in different transfers.
      We are going to email you the information on how to proceed further and see if at least you can recover the payments made by credit card.
      Kind regards
      Customer Care

  4. Arthur Waters says:

    Dear All,

    Don’t give in! We have successfully been refunded our £895.00 initial deposit to True Valid by my credit card company. We are now continuing the claim for the rest of the money we paid over to True Valid.

    Arthur Waters

  5. RJE says:

    True Valid is dead
    Arise Playa Resorts supposedly in Mayfair London (0845 2871282)
    A Helen James (who sounds remarkably like Diane Parker) has given the identical True Valid presentation, and glory be they have an offer already. Only needs our refundable retainer of £995 to get things proceeding.
    Obviously they haven’t checked their True Valid records, otherwise they wouldn’t have called.
    So it’s PLAYA RESORTS to have fun with.

  6. R Edmonds says:

    Am in the same situation as the others, we received official looking paperwork relating to Touchdown Holidays as the buyer of our DWVC membership , were told the money was now ready for transfering, and it would take 7/10 days to clear. Needless to say day 9 and nothing

  7. Andy L says:

    I have been contacted by TrueValid (Diane Parker 0845 3813818) stating that they can sell our DWVC time share for £4,400. However they need £921 as a guarantee to ensure we do not pull out of the deal (question of doubt!). Gwen then called and I got the documentation and, believe it or not, signed the credit sheet for the Credit Card transfer (pillock) and was told about the £1600 bank transfer needed to secure the deal. I was then contacted by Kate Martin with detaiuls about the bank transfer:
    Banco de Sabadell, 29646, Fuengirola, Malaga
    Account name: JOHN MORRISON M JACK
    IBAN: ES60 0081 0596 6000 0124 6332
    BIC/SWIFT Code: BSABESBB
    Amount: £1600

    I needed to give them the Tracking Number after the amount was authorised.

    Well, you see, we do not have that amount of ‘spare cash’ in our account. Indeed, we were scammed by Sunterra/Diamond Resourts/Vacation solutions a few years ago and now pay for a loan of £15,000 – yes $15K!

    I am going to contact the Visa Card company to see what they can do and put in the hands of the Trading Standards company, and pass the details on to my MP.

    • Dear Andy,
      Thanks for your comment on the blog. Make sure you contact your credit card company urgently and get the payment cancelled. These people should not get away with this.

      Customer Care

  8. Lesley Jehan says:

    We were contacted in early June, again with regard to DWVC and because they could quote membership number and date of purchase we trusted them! We authorised payment by credit card, signed a contract form and returned them to their address in Norwich. Today we heard that the sale had fallen through but that they had secured a sale with a corporate customer for a higher sum. We were told that because it was a corporate customer dealings had to be through a Notary in Spain and therefore we had to put up £1800. This would cover the fees paid by the corporate customer, should we pull out. On completion we would receive our intial fee + £1800 + the sale figure. Because we raised questions we were given 15 mins to consider. We spent the time checking the internet and needless to say we declined their offer. We now have to attempt to retrieve our initial payment. Any ideas?

  9. B.Williams says:

    I have also been caught by the same scam. Paid a deposit and then a bank transfer to Spain.
    Apromise of documents for a sale to be post in the next few days but which have never arrived.
    Any suggestions would be welcomed. Mine was also for a dwvc membership for which they quoted my membership number.

  10. glen smart says:

    same thing has happed to me
    thay took £730 pounds and £1800 to a bank in spain
    i also dont know what to do next….
    mr G Smart

    • Dear Mr. Smart,

      Thanks for your comment on the blog. I am really sorry to hear that True Valid has taken money from you for their resale services which turn out to be non-existing. We can help you with requesting a refund and we have send you an email with information on how to proceed further.

      Regards

  11. Arthur Waters says:

    Yes, we have been caught in exactly the way you describe. We fell for it, hook line and sinker. We paid £895.00 by credit card on 30 March 2011 and was told that a private sale would be finalised by the first week in May. We were sent a PAYMENT AUTHORISATION FORM, for us to complete, giving our authorisation for TrueValid to take the payment of £895.00 from our credit card. With it, we were given a pre-addressed envelope to send it to an address in Canterbury. This we duly did.
    During April we were told that unfortunately the private sale had fallen through but a commercial company called Touchdown Holidays, were prepared to take up the offer AND pay more than we were asking!!! We happily agreed.

    During May we were told that all was proceeding as planned and that all we needed to do was pay £1,900.00 solicitors fees to a bank in Spain and the deal would be complete, after which we would receive, the ageed cost of the sale, the £1,900.00 and also the £895.00.

    Since then, we have had returned by the post office, the PAYMENT AUTHORISATION FORM, as ‘NOT KNOWN AT THIS ADDRESS’, with a hand-written note on the envelope, indicating that ‘This is a timeshare scam.’ When I contacted TrueValid for an explaination, I was given a story that is too long to go into here but generally blaming temporary staff for sending out, out-dated documentation applicable to an office that has since closed. I have been assured that it is not a timeshare scam, the deal is still going through and that the finance office will be in touch next week. I really don’t believe a word of it and we are going to approach our credit card company, for at least the return of the £895.00. Beyond that we really are not sure what action to take next.

    Just to qualify the point, TrueValid agreed to sell out membership of DWVC, not our timeshare ownership.

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