4 Ways to Avoid Getting Scammed by Timeshare Exit Firms
Many timeshare "exit companies" target Margaritaville Vacation Club owners and make false promises to sell your timeshare for an upfront fee. Here are four warning flags to help you spot a timeshare exit company scam.
1. You Get a Call from an Exit Company
As an owner, chances are you will receive calls from exit companies looking to "help you." This could be about anything from reducing maintenance fees, renting out your ownership, or exiting your ownership. Beware of these calls, and if something seems too good to be true, it usually is. Remember, the best people to help you with your ownership is Margaritaville Vacation Club and your Wyndham Cares team.
2. You're Asked to Pay an Upfront Fee
Never pay an upfront fee. These companies often ask for an upfront fee and promise to sell your timeshare in return. However, complaints from other owners who have gone this route often share two things — they never see their money again, and the exit company failed to sell their timeshare.
3. They Won’t Tell You Your Attorney’s Name
In reality, very few attorneys specialize in timeshare law. So make sure that you’re confident that your timeshare attorney knows everything about your specific issues related to timeshare. Always ask for a list of references, previous experience, and all relevant qualifications before entering into a contract. Always vet the company itself, too — sometimes, owners are unable to reach the company at all after the initial discussion.
4. You’re Not Told How You Will Be Exited
You should be able to trust that your timeshare attorney is working in your best interest. Many exit scam attorneys may not disclose how they will actually attempt to exit you from your timeshare since they lack the necessary legal means to do so. Before hiring a timeshare attorney, make sure they are completely transparent about their fees, are well-versed in timeshare law, and can communicate in a straightforward manner.
If you believe you have fallen victim to a scam, or have received a phone call that could be a scam, contact the Margaritaville Vacation Club Scambusters team at 855-596-9233.