The American authorities (FTC) have taken action about different bogus resale companies and send out a strong warning to all timeshare consumers. http://www.ibtimes.com/articles/130834/20110405/ftc-warns-of-timeshare-scam.htm
Main reason for this warning is the ongoing and increasing complaints received from the consumers who have been cold called or have been at presentations of these companies where by paying an upfront fee the resale of their timeshare was guaranteed. Needless to say that in 99.99% of the cases the sale never went through and the consumers lost all their money.
We are talking about the typical re-sale scam which is a known ongoing problem as well in Europe where mainly from Spain (Costa del Sol, Canary Islands, Levante Area and Balearics) on a daily basis hundreds of timeshare consumers are approached by cold calls.
Mindtimeshare is aware of over 196 apparent bogus resale companies in the last 12 months, based on the complaints received from the consumers, but unfortunately only 20 of these companies were actually closed down by the police.
Main message to send out to all timeshare consumers worldwide is definitely to NEVER agree to any dealings with resale companies that COLD CALL, offer guaranteed selling of their timeshare and ask for an UP-FRONT FEE.
Any timeshare consumer that has been contacted or has unfortunately paid for services of these bogus companies should contact Mindtimeshare directly in order for us to give advice and take action. We work closely with both police and consumer associations to fight against the fraud in this area.
There are over a million timeshare consumers worldwide, and awareness of companies like Mindtimeshare is most important for the timeshare business and its consumers.
To create this awareness we need the help from the timeshare developers and other timeshare businesses who should give this information to their customers.
If timeshare consumers know from day 1 that in case of problems or doubts with suspicious companies they can get the information from Mindtimeshare and we as Mindtimeshare can avoid hundreds or thousands of consumers being scammed by paying up-front fees they never see back…would we be aiming for an ideal world?