Out of the blue, a company cold-called a timeshare owner, offering to help them quit their contract. It sounded too good to be true—and it was.
Timeshare Scam Alert!
Dan Keating, press officer for the Timeshare Consumer Association, warned: “Unsolicited calls from firms claiming to know your timeshare details are never a good sign.” Suffolk Trading Standards has also issued a stark warning after several reports of this cunning scam.
In one case, the victim was hit with a demand for a whopping £10,000 fee to exit their timeshare. Luckily, no money changed hands.
Official Advice: Don’t Get Ripped Off
A spokesperson from Suffolk Trading Standards urged caution: “If you want out of a timeshare, write to the company first to see if surrendering is an option.” They added, “Sometimes you can negotiate directly. Or contact the Timeshare Consumer Association for help.”
Timeshare Exit: Nearly Impossible
Keating revealed a harsh truth: “Most timeshare developers have no official exit plans.” In the US, it’s almost impossible to quit. Where exit schemes do exist, they come with stiff conditions and eye-watering fees.
Timeshares involve paying big upfront sums plus annual management fees for holiday points, often locked into contracts that last decades. It’s a holiday trap that’s tough to break.
Fraud on the Rise
Timeshare scams are increasing fast. Keating warned: “The number of dodgy operators far outweighs the honest ones. The Timeshare Consumer Association is well aware of this.” Owners must stay alert and never pay upfront fees to unknown companies promising the exit.
