Timeshare Fraud Relief
Some people love them and some people hate them, but no matter what you are feeling, timeshares remain a very popular vacation option. These businesses offer the consumer a guaranteed room, usually with amenities such as a pool and possibly game room and fitness center, all for a rate that never changes. Still, because timeshares often prey on unsuspecting tourists, they are often the source of much fraud.
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Misconceptions
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Before understanding how to avoid fraudulent situations, it is first necessary to understand that many who believe they are the victim of fraud may have simply fail to do their homework. The contract should specifically spell out what you agree to. Therefore, it is important to take as much time as you need and read the contract, no matter how high pressure the sales pitch may be.
Identification
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The true definition of fraud is when a business fails to meet its contractual obligations and never had any intention of doing so. This may be evidenced by not providing the accommodations or unit mentioned in the contract, taking a deposit and then going "out of business," taking an up-front payment and then never delivering on promises, or any number of other situations.
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Prevention
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The best thing to do if you feel the company is not legitimate is to follow your instincts. Always check on the company with the Better Business Bureau or other referral services. Also, never pay up front for anything, whether that is a great deal on a vacation package or fees associated with winning a prize.
Right of Rescission
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Most states have a right of rescission, which allows you to cancel or void a signed contract if done so within a certain time period, typically three business days of the signing. Timeshares may not be included in this, but typically are. However, these rights vary by state, so be sure you check the situation as it pertains to your specific circumstances. However, if you have been a victim of a fraud, chances are you may never see any of the money you've already paid, even if you take advantage of this right.
State Attorney General
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If the fraud is to the point where you feel it has become criminal, file a complaint with the consumer advocate for your state, most likely a division of the state attorney general's office (see Resources below). This office is often the one responsible for pursuing criminal charges against those perpetrating fraud and may be able to get you restitution.
Other Help
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Many will also choose to hire their own attorney for civil actions. Often, just the threat of a lawsuit is enough to get some companies to offer you a settlement. Though hiring a private attorney does not often result in criminal charges, a civil lawsuit should help the victim of fraud recover some of the damages.
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References
Resources
- Photo Credit Curtis and Eric/Flickr.com
