The Better Business Bureau, the USA’s version of Action Fraud, has been warning consumers that a group claiming to be a Nashville based realty company are scamming victims out of tens of thousands of dollars, in exchange for bogus timeshare resale services.
The Better Business Bureau has received serious customer complaints that allege a company named Your New Tennessee, has received payment for services which have not been completed. Victims have complained to BBB that the company has contacted them claiming to be able to sell their timeshares located in Mexico. The company promises there is no upfront fees, however, the company has been contacting consumers requesting payment for alleged taxes owed to the Mexican Government.
Your New Tennessee claims to have hundreds of happy customers on their website, but a spokesperson for the Better Business Bureau said it is all fake and people are being defrauded out of thousands of dollars and no way to seek recompense. Robyn Householder, president and CEO of BBB of Middle Tennessee said: ‘This is an organisation that’s identified themselves as a full service commercial realtor. Bottom line is the consumers are being scammed out of large amounts of money. We’ve researched this organisation, unfortunately the licensed realtors name is not affiliated with the organisation. It appears it’s an identity theft situation.”
What is a Mexican Timeshare Scam
You could get a call out of the blue asking you to sell your timeshare and they have buyers ready for your highly sought after location or resort. They may even offer you a small profit, the only catch, you have to pay a fee for this service. More than likely,this will be an Escrow Fee or government taxes fee, which you can recoup when the sale has gone through. Owners will be asked to transfer funds into an account, which is actually owned by the scammers but will look genuine. This is a very profitable scam running in Mexico, the many people who do send their fees, never ever see their money again and are still stuck with their timeshares. To make matters worse, and to continue the con, the scammers will send authentic looking documents to their victims, and often the owner does not realise they have been scammed for quite some time.
Incredibly, some owners have been cold-called and informed that a branch of the Mexican government has set up a fund to reimburse victims of timeshare fraud in Mexico, and they are eligible for a claim, they even have documents to prove it. Another massive scam, there is no such scheme in Mexico.
How to spot a timeshare scam:
1. A cold-call informing you they have a buyer ready to purchase your timeshare, they may even offer you more than you paid for it. The chances of someone offering to buy your timeshare for more than you paid for it, is extremely unlikely.
2. They may claim the Mexican government is offering to reimburse victims of timeshare fraud, 100% untrue. They will ask you to transfer a few thousand to pay a tax to allow them to open a Mexican account in your name.
3. They will request funds to be transferred in ways that are difficult to trace, such as cashiers cheques and money orders.
4. The scammer will ask you to transfer funds into a bank account, none of the services they promise will occur and you will never see this money again.
People who enter into Timeshare agreements often find it difficult to keep up with the mounting maintenance fees and simply cannot afford it any longer. They may also find that the Timeshare no longer suits their needs and simply want to end the contract. There are too many individuals who are willing to take advantage of Timeshare owners and offer fake products, along with Timeshare exit schemes. Before agreeing to any Timeshare termination or exit procedure with an individual or company, seek independent advice and fully research any company you are thinking of working with.
It is also important to remember that purchasing a Timeshare should NEVER be viewed as a financial investment. Timeshare is an investment in lifestyle, in future holidays and family time together. There is almost no resale value to a Timeshare.
The mis-selling of holiday products is, unfortunately, common practice within the holiday industry and these type of crimes often go unreported by the most vulnerable in our society and criminal convictions are few and far between.
If you have purchased a Lifestyle / Concierge Service, a Timeshare or a ‘Holiday Points’ based product from a resort or company and feel unhappy with the service, or feel you have been mis-sold this product, please get in touch with us to discuss how we may be able to help you with a possible Money Back Claim.