(Springfield, Mo.) A new study by the Better Business Bureau is warning consumers about multiple timeshare scams working hard to steal money from unsuspecting timeshare owners.
Most timeshare offers are legitimate, but enough scams and shady deals have lured people that timeshares have developed a bad reputation.
"We’re not dummies but man did we make a mistake when we got involved with this timeshare stuff, explains Larry Fleming, Timeshare Scam Victim.
Owning a timeshare can take you around the world, but as Fleming encountered, disowning your timeshare can get you a giant runaround
"It’s really easier to get out of prison then it is to get out of one of those deals that they offer."
Fleming has a right to be angry. He lost over $5,000 in a timeshare resale scam.
"These are professional sales persons that are giving this spill to you and they’re good."
A company promising big results claimed they would sell his timeshare. Initially Fleming was thrilled..
"They guaranteed us they would get us out of the timeshare within the year. Well couple days after that year was over we tried to contact them, they didn’t answer their phone."
A lot of families use timeshares and love it, but there are some things you need to know before you dive in. That's why the BBB is alerting consumers about protecting themselves from predatory timeshare sellers.
Michelle Corey, Chief Executive Officer, Better Business Bureau, says ,"We don’t want people coming to Branson , Mo for a good time and leave here with a very expensive contract sold to them under high pressure, misleading tactics, contracts that they can’t afford or nor do they want."
Corey says little resale market exists for timeshares, making them a long-term headache for many owners.
"Do not sign a contract on the spot, do not sign a contract if you’re high pressured, instead take the information with you and go home and think about it."
To learn more on how you can protect yourself and for a list of safety tips, click here: