Officials in Atlanta are warning timeshare owners of more cold call scams, stereotypically from somebody claiming that they are calling from a travel agent.
The caller usually starts by telling the owner that there is a cash buyer waiting to purchase their timeshare weeks.
Then the bogus company requests upfront fees in order to start the process!!!! Consumers are told they need to transfer the fees to cover searches and to pay taxes, and the bank accounts used are generally international accounts.
The consumer will continue to receive calls requesting additional fees. Once the scammers are happy they have taken enough money from the unsuspecting consumer, they are eventually informed if they are lucky enough to hear from the company again that the sale has fallen through.
Should the consumer then request their fees are returned 99% of the time contact ceases immediately, websites disappear and phone lines are cut dead.
Officials claims that most scammers are committing corporate identity theft to add credibility to the scam. They hijack the corporate registration information of a business at the Secretary of State’s Office by altering the names of corporate officers. Often resulting that when a consumer researches the company it appears the fake timeshare title company or travel agency is legitimate.
The Better Business Bureau serving Metro Atlanta, Athens and Northeast Georgia recently announced it has received complaints alleging that a timeshare reseller calling itself “Escrow Corp of Georgia” is scamming consumers.
‘Please be aware, that there is a legitimate company called ESCROW CORP. OF GEORGIA, which has nothing to do with Escrow Corp of Georgia.
They say the only difference in the company names is that the legitimate business’ name is capitalized and has a period following “CORP.”
We at TCA strongly recommend you follow the simple steps below if you are trying to sell your timeshare:
- If it sounds “too good to be true.” it usually is…
- There is no legitimate reason for the money to be sent to another country if the reseller you are dealing with is located in the United States.
- If you are asked to wire money in connection with a timeshare resale or any type of rental is a big sign of fraud.
should you ever consider selling your timeshare always contact the timeshare resort or timeshare developer first, they may be aware of a new or ongoing scam connected with the call you have received.
- Always search for a company that requests fees upon completion only. Those asking for upfront fees are usually a scam. However, if you are confident with the company you have chosen, and you must pay a fee in advance, inquire about refunds. Request to see the refund policy.
Posted on: June 8, 2018
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 0203 519 3808 or email: info@TimeshareConsumerAssociation.org.uk