TIME SHARE FRAUD
Not all Time Share is fraudulent; there are many very satisfied Time Share Owners who sing the praises of this type of holiday. However, it can not be denied that here in Tenerife we have unscrupulous individuals preying on holidaymakers in an attempt to sell them “Time Share” no matter what name you call it.
Once you have purchased, you are still not safe from these people, they claim that an existing Owner is an easy Mark to purchase further weeks of Time Share. Even if they do not wish to! If you are an existing Owner of “Time Share” you may be approached by a persuasive lady or gentleman offering to purchase your Time Share. Beware; this is probably another way of getting you to purchase more weeks.
There are many variations, this is how one “Scam” works.
The Call Centres involved, purchase their lists from other Time Share Companies.
You will be contacted by a very plausible lady or gentleman from a Company that sounds very British, with a great offer, perhaps to purchase your existing Time Share. They may indicate that one of their clients, from say Rumania, is interested in purchasing 200 units of Time Share. The offer made could be for the original amount that you paid. They will probably confirm this in writing and contact you to see if this interests you. Of course it does, they have already told you there is no risk and although when you come to Tenerife to complete the sale, they will give you a Marketing Presentation, you do not need to buy anything.
You visit Tenerife at their; or your own expense and the friendly people from say “Clement & Smith” (fictitious) collect you from your hotel and take you to the office. They check your Time Share Ownership documents and work out how much the client will pay you for them. The amount may then be confirmed by the client.
About this time you receive a presentation on the benefits of some form of holiday club. You could be told that on completion of the sale of your Time Share to their client, you will be liable to pay Spanish Sales Tax, perhaps of 22 to 25%. However, with their holiday club they have special arrangement with the Tax Authorities, and if you become a Member of the holiday club, no tax needs to be paid when selling your Time Share. You do the maths; it is obviously in your interest to join the holiday club. The offer to purchase your Time Share units may then be increased to include the cost of joining this club. The amount is agreed and confirmed by the client. You could be shown a document from the client confirming that as soon as you sign the contract, the money to purchase your Time Share will be forwarded to a Holding Account. You sign the contract and perhaps are then shown a document confirming transfer of funds to the Holding Account, awaiting confirmation that your payment has been received.
Once you have paid you wait and nothing happens. No money is forthcoming in respect of the sale of your Time Share. But at least you are now a Member of the holiday club. Well, you would have been, if you had received the documents from the nice man at “Clement & Smith”.
By the time you realise that you have taken for a ride, the Company has perhaps changed name, the office has moved and anyway, no one in the office was using their real name.
IF YOU HAVE BEEN THE SUBJECT OF TIME SHARE FRAUD
THERE IS SOMETHING YOU CAN DO ABOUT IT
CONTACT US NOW!
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