Victims of Fraudulent Timeshare Exit Companies Share Stories of Losing Thousands of Dollars in Upfront Fees in Exchange for Empty Promises
JULY 27, 2020 (LAS VEGAS, Nev.) – Diamond Resorts®, a global leader in the hospitality, vacation ownership and entertainment industries, has released a new video documenting the disturbing rise of a deceptive and illusory so-called “timeshare exit” industry. In the video, victims of timeshare exit scams, Former Arizona Attorney General Grant Woods and Diamond Resorts CEO Mike Flaskey detail the misleading tactics of these nefarious companies and educate consumers about safe and responsible exit options available to timeshare owners.
In the video, timeshare owners report paying so-called timeshare exit companies as much as $10,000 in upfront fees in exchange for a promise to help them exit their timeshare contracts. These consumers say they lost their money and the companies failed to deliver any service.
“I just feel we were so taken and we were ashamed that we fell for any of it. It’s been two years already and I know the money is gone,” says one timeshare owner.
In just the past year, Attorneys General in Washington, Missouri and Arkansas have all sued timeshare exit companies for alleged fraudulent activity. Former Arizona Attorney General Grant Woods is also featured in the video, saying, “One of the main things that Attorneys General do is protect consumers against fraud. When you look at timeshare exit companies, a lot of us feel it’s just a real rip-off.”
“To protect our members and owners, Diamond Resorts remains committed to shutting down this cottage industry and challenging its deceptive operations in court. There is simply no need for these companies to exist other than to mislead consumers for their own benefit. Diamond Resorts and other timeshare developers offer a safe way for owners to exit their timeshare contracts without someone stealing their money,” said Mike Flaskey, CEO, Diamond Resorts.
Former Arizona Attorney General Grant Woods notes, “My advice to consumers out there is very clear, you should run as fast as you can from timeshare exit companies, they are a big rip off.”
Timeshare owners are encouraged to follow these tips to protect themselves from timeshare exit scams:
1. Never Pay an Upfront Fee
One of the hallmarks of third-party timeshare exit companies is charging thousands of dollars — sometimes tens of thousands of dollars — in upfront fees. These companies fail to deliver on their promises and instead leave customers in deeper debt and still under contract. One vacation owner scammed by an exit company warns that the exit company she worked with “kept adding more charges” despite failing to deliver any service.
2. Don’t Fall for Scare Tactics
Third party exit companies target timeshare owners with incessant telemarketing calls and false advertisements. Many of these companies will lie about an increase in maintenance fees coming from the timeshare developers or claim to have information pertaining to timeshare contracts that is often not truthful. Timeshare owners should verify any claims with their timeshare company directly.
3. Work with Your Timeshare Company to Make Any Changes to Your Membership
While the vast majority of members enjoy their vacation ownership, Diamond Resorts also understands that life circumstances can change. Diamond and other timeshare developers provide options for members seeking to safely modify or leave their vacation ownership behind. To learn more visit ResponsibleExit.com.
This video will air on television stations across the country and be shared via social and digital advertising. To report suspicious timeshare exit activity or to learn more about exit options available through timeshare developers visit ResponsibleExit.com.
About Diamond Resorts
Diamond Resorts offers destinations, events and experiences to help members make a habit of breaking from the routine. From unforgettable getaways to exclusive concert series to VIP receptions and dinners, members turn to Diamond to recharge, reconnect and remind each other what matters most. Our focus on quality resorts, customer service and flexibility means members can return to a favorite resort, book a cruise to explore new countries or attend a once-in-a-lifetime event with the same level of confidence and anticipation. With access to a world of entertainment and activities, a Diamond membership ensures that people are always looking forward to vacation.
212-319-3451, ext. 648