The Federal Trade Commission has charged another timeshare resale operation, Pro Timeshare Resales, with fraudulently inducing consumers to pay them more than $15 million in upfront resale fees.
The charges allege that company would tell timeshare owners that they had a buyer or renter who was interested in their timeshare, and promise that they would be ready and able to facilitate the transaction quickly. The company would then charge timeshare owners as much as $2,500 in advance up-front fees to list the property, but would fail to deliver on their promises. The company would often string their victims along further, asking them for additional closing costs or other fees while they purported to be finalizing the sale.
According the the FTC complaint, requests for refunds made by clients were denied or ignored. A federal court has since temporarily halted the operation and frozen the defendant's assets as the FTC seeks to permanently shut down the company and return money to consumers who have lost thousands of dollars. For more information on this case, we would recommend that you visit Consumeraffairs.com.
For the many of the consumers who find themselves stuck in a timeshare that they are looking to get out of, this case is one among many that highlights the importance of dealing exclusively with a licensed attorney when trying to exit a legally binding contract. As our lead attorney and Managing Partner, Ronald H. Weksler Esq. explains:
"The secondary market for timeshare units is nearly non-existent. Anyone can go on Ebay or Craigslist right now and see that there are tons of timeshares for sale that you can buy for a dollar. The truth is, timeshares are often considered a liability rather than an asset with any real value. Once people understand that ownership (of a timeshare) means they will be forced to pay increasing maintenance fees with no end in sight, the prospect of ownership if not as attractive. If a company is promising that they have a buyer, renter, or that they can sell your timeshare in exchange for an up-front fee, the red flags should immediately go up."
"Most importantly, remember that with any legally binding contract, it is imperative that you hire a licensed attorney who can dispute the legal validity of the contract, and utilize consumer protection laws to help you enforce your rights."
"It is important to be extremely wary whenever a company offers you a money back guarantee. As an attorney, I tell my clients that there is no way for anyone to guarantee that they can get you out of a timeshare. The fact is, only a judge and jury can force a resort or developer to release you from the binding contracts and legal obligations that come along with timeshare ownership. Logic dictates, if even the best lawyer is unable to guarantee that they will win the case, how can a advocacy group, resale company, or any other company be able to guarantee they can release you from a legally binding contract?"
For timeshare owners who are looking for a light at the end of the tunnel, Mr. Weksler says there is still hope:
"Due to the recent exposure of rampant abuse and fraud in the timeshare industry, many owners are starting to realize that they purchased their timeshare under false pretenses. Many of these transactions were based on fraudulent statements, negligent misrepresentations, and material omissions. Often consumers did not understand the nature of the contractual obligations they were agreeing to. Additionally, high-pressure sales tactics and deceptive sales practices often give rise to significant issues which can effectively be raised by a licensed attorney to dispute the validity of these contracts. With effective counsel, many times these resorts to allow consumers to relinquish their ownership rights and responsibilities and agree to let them out of their timeshare contracts. With the right representation, it is possible to fight the resorts and win! "
"If you are serious about cancelling you timeshare contract you should make sure to avoid resale companies and deal exclusively with a licensed attorney who has experience with this area of the law."
Click HERE to schedule a FREE Consultation with one of our licensed Timeshare Release Attorneys to discuss your legal options. We may be able to help you cancel your timeshare contract legally and permanently, once and for all!
Led by Attorney Ronald Weksler, Esq., Weksler Law Group, PLLC. is a consumer protection law firm that focuses primarily on Timeshare Law.
If you feel you have been victimized by a timeshare company, contact our offices for a free no-obligation consultation. Talk to a licensed attorney and find out your legal options. It is important to understand your rights as a consumer.