AARP Virginia Fraud Alert for July 7: Time Share Exit Scams

It’s the Summer holiday season and many of us are out looking for vacation homes, but not everyone is in a buying mood. Across the country thousands of people are looking to get rid of a time share property, a process that can be difficult. Enter criminal scammers who set up slick looking, but fraudulent businesses that promise to help desperate families for a fee.

Time share scams target victims by responding to for sale ads or searching property records. They will either offer a guarantee to get someone out of their time share for a fee or claim to have a buyer available and ask for real estate sales fees. Last year the Federal Trade Commission and the State of Wisconsin filed suit against a group of companies who collected $90 million for services they never provided.

Getting out of a time-share can be difficult but looking for short cuts could cost you much more in the end. Never trust anyone who contacts you unsolicited and offers to make your problems go away for a fee.

Be a fraud fighter!  If you can spot a scam, you can stop a scam.

Visit the AARP Fraud Watch Network at www.aarp.org/fraudwatchnetwork  or call the AARP Fraud Watch Helpline at 1-877-908-3360.