Timeshare exit scams have swindled hundreds of timeshare holders. According to one research, owners of KwikChex have lost more than £8,000,000 to exit timeshare scams in seven months. How do you recognize fraud from a trustworthy organization? In this article, we look at the different warning signs you need to look out for before trusting a timeshare exit company.
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Cold-Calls, High-Pressure Solicitation, & Emails
An unsolicited phone call is one of the most common ways of coming into contact with a spurious timeshare exit company. In addition to the cold call, you can receive communique through email or text that asks for your personal information. These messages will have dire consequences if you do not reply truthfully or as soon as possible. They almost always ask for extremely confidential information that should already be with them in the first place.
A reliable timeshare exit company will never contact you via phone. They will also not ask for any personal information on a call. The best thing to do if you receive any communique that you think might be a fraud is to report it to the National Data Protection Agency. It will not make a huge difference if you simply ignore their requests for more information about you.
Deception & Intimidation
Fraudulent timeshare exit companies will try to intimidate people to try to get a response from them. To achieve their goals they might give you partially correct information and ask you for more information. This is a tactic used to manipulate you into believing their claims. You might think that since they have some of the information, they can help you out of your situation.
Another tactic often used by fraudulent organizations is that they claim that your children will inherit your timeshare debt. Very few online organizations can legally hold their children responsible for a transaction conducted by their parents. All of these are indications that if you comply with any of the requests of this party you will be sorry later.
Whenever you conduct a transaction with a fraudulent timeshare exit company they will instruct you to remain silent about the transaction. They claim that you will be in breach of contract if you contact any of the other parties involved in the transaction in any way. These kinds of stipulations are placed because you could learn that the terms and conditions have been updated. With the updated terms and conditions you could exit the timeshare without incurring any charges. So get more suitable information from Wesley Financial Group, LLC Reviews to Identify A Trustworthy Timeshare exit company.
If you find out the new terms and conditions the fraudsters will not be able to cheat you and get away with making their money. It is unlawful to put any kind of extreme condition or pressure in any kind of transaction. Be very careful if you find any such kind of wording in any contract.
Advance Fees That Must Be Paid Without A Credit Card
Fraudulent timeshare exit companies charge large amounts of an advance payment. Most of the time the transaction these companies require cannot be completed by a credit card. This is because they understand that all transactions made by a credit card are protected by the UK Consumer Credit Act. If you do make payments via credit card make sure that the name matches the name of the timeshare exit company.