Scam of the day – June 8, 2013 – FTC takes action against timeshare resale scammers

The Federal Trade Commission has just announced the filing of charges against three companies who the FTC claims have been guilty of fraudulent and deceptive practices.  The companies involved are Resort Solution Trust, Inc.,  Resort Property Depot, Inc. and Vacation Communications Inc, doing business as Universal Timeshares Sales Associates.  The scam generally starts when the victim is contacted and told that the company has a ready, willing and able buyer for the victim’s timeshare unit.  The victim is told that they must pay upfront fees, which can be as much as $3,400.  The truth is that their are no buyers and often the victims are even called on the telephone in violation of the Federal Do Not Call List.  When the victims have demanded refunds, the scammers refused to return the funds paid to them.

TIPS

Many timeshare owners have become desperate to sell their timeshare units and scam artists take advantage of this desperation. However, regardless of how desperate you are, you should never pay anyone promising to sell your timeshare unit in advance of the actual sale.  If you follow this rule, you will save yourself a lot of headaches.  Before signing on with anyone to sell your timeshare unit, you should also investigate the company to make sure that they are legitimate.  Check with your state attorney general and the Federal Trade Commission to see if their are complaints or legal actions against the company.