Reports of fraudulent timeshare resale companies have become a very common occurrence during recent history with the decline in the global economy. The reason for this is many people have found they can no longer afford to own their timeshare due to the economic downturn, perhaps they have lost their job or their wages have been cut, with the recession the amount of disposable income families have has dramatically decreased. Unfortunately there are many companies out there who have recognized this and instead of attempting to help the people who can no longer afford their timeshare they actually persuade them into paying hundreds of dollars to advertise a timeshare. With reports of these fraudulent companies becoming more prevalent it is hard for reputable companies such as Vacation Timeshare Rentals to not be affected by the reports even though we have a proven record since our beginning of helping timeshare owners sell a timeshare through honest and cost effective methods. Since the reports hurt the industry as a whole we are glad to hear news of any company paying the price for their actions.

Timeshare Relief is a company based out of Torrance, California who recently reached a settlement with the Vermont Attorney General. Many timeshare owners will recall receiving calls and postcard from companies such as this one. The post card or call will let the owner know the company will be in their area during a certain time and will offer a guaranteed timeshare relief solution. The owner is led to believe the company will take over ownership of the timeshare or even pay them for the ownership when in fact it will actually cost the owner hundreds of dollars for the company to take ownership of the timeshare unit. In addition Timeshare Relief also led many owners to believe they could receive a tax credit by claiming the amount paid to the timeshare resort as a loss when in fact this is not true and tax credits for timeshare sales are few and far between. The Vermont AG deemed the practices of Timeshare Relief to be deceptive and brought them to justice. The terms of the settlement are as follows:

• Offer those 28 of its customers who did not receive proper notice of their right to cancel an opportunity to cancel the transaction within ten business days and get all of their money back. Letters to this effect will be sent out in the next month, and Timeshare Relief will pay up to $84,000 under this provision.
• Send to another 28 customers a check in the amount of $250 to compensate them for the time and money they spent traveling to attend the company’s presentation.
• Pay the State of Vermont $50,000 in civil penalties and costs.

With the increase in complaints about companies such as this one there will also be an increase in the number of court cases involving these companies. Hopefully the stiff penalties and fines will be warning to other people who may want to try and operate companies such as the one described above. If you are currently a timeshare owner and would like to try and find a buyer for your unit please visit our sell timeshare area.

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