Being around the timeshare industry for so long I have read or heard about every almost every scam in this industry or so I thought until last week when I read about a new scam and felt I needed to let owners know about it. The most common scams threatening owners are timeshare resale scams, most owners have received an unsolicited call from someone stating they have a buyer waiting and ask if the owner is interested in selling a timeshare for a price much higher than the original purchase price. The catch is the owner must fork over a high upfront fee for some made up service, in reality there is never a buyer and by the time the owner realizes they have been scammed the thief has already moved on or is operating under a different name. The most recent scam I read about also involves timeshare owners, however it is not a timeshare resale scam, the ultimate goal of this scam is identity theft.

We found the article outlining this new scam on IdahoStatesmen.com, we recommend reading the full article for complete details on this scam. In the article the author tells a story about an elderly couple who had previously purchased a timeshare, the timeshare resort name was not mentioned in the article. The couple received a call from someone claiming to be from the resort and requesting to meet with them at a local restaurant to discuss their ownership. During the meeting the person claiming to be from the timeshare resort informed the couple the company was about to undergo major changes and the couple would need to fork over $8,600 that night or face stiff charges and penalties which could amount to $40,000. The couple decided to fill out all the paperwork as the person had seemed legitimate and the letterhead looked official. The paperwork requested the couple include their full names, address, dates of birth, and Social Security numbers. Upon returning home the couple began to doubt the legitimacy of the person and contacted the resort to find out if they had indeed sent someone to discuss their ownership with them, officials at the timeshare resort said they did not send any such person to their area. Immediately the couple contacted their credit card company and cancelled the $8,600 charge on their card, however the information they entered on the paperwork can not be recovered meaning the couple will most likely need to continuously watch their credit report and all financials for the rest of their lives.

Unfortunately it’s too late for this couple but hopefully other owners can learn from their situation, here are a few suggestions to keep owners from being scammed. First if someone claiming to be from your resort contacts you requesting to meet contact the resort ask for their information and immediately contact the resort to verify they actually work for them. Secondly we recommend handling any business affecting your timeshare ownership when visiting the resort not outside of the resort, this way you will know the people you are dealing with are legitimate. Finally never fall for the line “You must pay now or incur a penalty”, this is never the case we have found timeshare resorts always keep an upgrade offer on the table if they are legitimate so it will be available later on.

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