Many timeshare cancellation companies advertise in main outlets and claim to help you cancel your timeshare contract. However, they are often scams, involving high-pressure sales tactics. Here are some of the red flags that you should keep an eye out for: Exorbitant up-front fees, False claims of expertise, and Non-refundable contracts.
False claims of expertise made by timeshare cancellation companies are all too common. Most consumers are unaware of their cancellation rights and complain that they are rushed into making a snap decision. This is because they are not given the time to review the contract. Moreover, unscrupulous sales representatives often insist on specific pricing during the presentation without giving them a chance to fully review it.
Fraudulent companies will not only make false claims to get you to buy timeshares, but they will also omit relevant facts. Typically, this is done when a salesperson thinks it will discourage the customer from making a purchase. This is a form of fraud and will usually affect the customer’s financial situation.
It’s essential that you stay away from timeshare cancellation companies’ high-pressure tactics. These companies will use a variety of sales techniques to get you to sign a contract without thinking. They may even follow you to your car in order to upsell you. If you’re tempted to sign a contract, you should carefully evaluate the terms and conditions of the timeshare contract before you make a final decision.
The first thing you should do is read reviews and references. Some timeshare cancellation companies are infamous for their high-pressure sales tactics. If someone you know has used one of these companies, you should be suspicious.
A new consumer alert from the Better Business Bureau warns that some timeshare exit companies fail to provide refunds and may have misleading sales presentations. It cites cases in which these companies did not cancel their customers’ vacation timeshare contracts, gave misleading sales presentations, and had poor customer service. Timeshare exit companies typically charge a buy-in fee and promise to cancel timeshare contracts for customers. While they do not always give a refund, they may be worth checking out.
The Federal Trade Commission is currently mailing refund checks to 8,088 customers totaling nearly $2.7 million. Customers must cash their checks within 60 days. The complaints came from timeshares that were purchased from companies like Reed Hein. Despite advertising their “100 percent money-back guarantee,” Reed Hein has a poor track record of giving refunds. Thousands of Washingtonians signed contracts with the company, and many still don’t have their refunds. Check on are timeshare cancellation companies scams.
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