The timeshare industry has experienced massive growth in recent times and as the industry is growing, so are companies popping up to commit timeshare fraud and preying on unsuspecting victims. A simple online search for timeshare cancelation companies will show you a list of companies that brandish themselves as helpers who can help people get rid of their timeshares by collecting it from them and giving it out to charity or other bodies that need timeshares. They may also say that you have to pay upfront to them before they help you cancel your timeshare.
These days, you find campaigns from the Better Business Bureau, consumer rights advocates, government agencies, advising people to stay away from paying upfront fees. Those who ask you to pay upfront fees for timeshare cancelation make you believe that you are paying for appraisals, taxes, or change of title fees. The upfront charges from these companies range from hundreds to thousands of dollars. They lookout for people who are desperate to free themselves from unfavorable timeshare situations and prey on them. They often claim that the upfront fee is a one-time fee that will secure a quick transfer or cancelation.
Asking for upfront fees to guarantee timeshare sales is one of the most popular schemes used in scamming people in the timeshare resale market. These scammers simply make their victims part with hundreds or thousands of dollars without the desired results at the end of the day. When you part with your money as upfront payment to timeshare cancellation lawyers or agents, you put yourself in a vulnerable position as the lawyers. That way, agents or companies have more leverage over you because regardless of what the outcome may be, they have nothing to lose, having been paid upfront.
One thing you need to know is the fact that these people will never tell you that they want you to pay upfront fees. They will rather use terms that sound legitimate to tell you that you being the one with the stakes need to make payment before the sales go through. Terms like taxes, closing costs, title search fees, etc., are the terms used by these scammers to get you to part with your money.
You should always beware of these schemes and never fall, victim, because there is scarcely any legitimate company that will charge you before selling your timeshare. Never make the mistake of paying upfront for your timeshare resell, else you stand the risk of a failed deal and losing your money.