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The sale of timeshare ownership has become an enormously profitable way for resorts to generate additional income.
In essence, buying a timeshare means that you get to share a vacation property with different parties, usually divided by 52 weeks.
If you are interested in getting one of these properties, it is very likely that you will have to assist a sales presentation, where you will be pushed at a certain point to sign a sales agreement.
But, how do I know if I was a timeshare scam victim? In the following paragraphs, we will tell you the most common lies said during timeshare presentations.
Also Read: Timeshare fraud: 5 tips timeshare Resorts Don't want you to know.
One of The Most Popular Frauds in Mexico
Mexican timeshare fraud has been increasing over the last few years, according to PROFECO, the Government’s Consumer Protection Agency in Mexico.
Only this year, from January to April, 478 complaints about 20 different timeshare companies have already been filed, but that is only the beginning.
After the complaint is filed, it takes a long time to accomplish a conciliation of the case, and that is not always possible.
Before buying a timeshare in Mexico, it is very important that you know your timeshare cancellation rights.
When you purchase a timeshare in Mexico, you have 5 business days to cancel the contract; this is after the contract is signed.
Another important thing to know is that under the Mexican law, verbal promises are not valid if they are not written.
Therefore, you should read your contract very carefully before you sign it.
How do I Know if I Was a Timeshare Scam Victim?
At this point, you are probably wondering, How do I know if I was a timeshare scam victim? If you recognize any of the following statements, it is very likely that you are a timeshare scam victim:
- The verbal promises made by the timeshare salespeople during the presentation are not established in the contract
- You were told that your timeshare would be a smart financial investment
- They told you that your timeshare would be easy to resell
- You were told that you could rent your timeshare weeks easily, so you could make a profit out of them
- You were told that you could travel all over the world with your timeshare unit
- You were told that you wouldn’t pay any timeshare maintenance fees or that they would stay fixed
- You were told that you would get great discounts on cruises, air tickets, car rentals, city tours, etc.
Also Read: Mexican Timeshare Fraud
What Do I Do If I End Up Being a Timeshare Scam Victim?
If you, unfortunately, find yourself stuck in a timeshare scam, you will be glad to hear that there is a way to get out of it legally.
If you have already purchased a timeshare, contact us at Mexican Timeshare Solutions.
We offer professional and efficient services to cancel your timeshare contract as soon as possible.
At MTS, we will work hard on your behalf with no upfront fees. Contact us today for a free consultation!
To receive more information to know if you were a timeshare scam victim and to cancel your membership, send a WhatsApp to +52 333 239 6589, fill out the form in the contact section, or call us at +1 714 277 3662.
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nos hacen muchas promesas y todas resultan falsas, alejense en el primer momento en el que les bajen el sol, la luna y las estrellas
they told me i could rent my weeks, but the truth is that it's almost impossible !!! don't ever think
Timeshares never were a good investment and more and more folk are discovering the rip-off in management fees they get to pay just to 'own' them. Actually, all they own is the right to two weeks of use. Amortize that value over $20,000 or $30,000 of so-called investment and it is clear one could purchase many weeks over many years at prime resorts and take many cruise vacations for that cost. So many fall prey to the supersized sales pitch for a free dinner or night's stay. Then they find they never actually use the property that glittered in the sales pitch but have to trade it for where they want to go (paying for the airfare to get there) and what they actually want to use. No wonder they later seek to unload this white elephant on another unsuspecting fool. Buy wisely and just pay as you go.
Lets face it, the sales reps will tell you anything to make their commission and are told to do just that. By the time you realize the mistake you made, you have already signed the paperwork. They don’t care what they tell you to buy into the system and then they just blame it on your home resort. Their sales reps are doing just that, representing RCI and RCI takes no responsibility for what is happening or the resorts they are pushing
they told me that they could help me to buy my timeshare.. now i have 2 years waiting that happen!
compre mi tiempo compartido con targeta de credito el enganche se cobraran a 6 meses sin intereses y quiero cancelar ese cobro se reaizara a un o como lo hago para cancelar ese pago me urge pq estoy viendo que no me conviene pues es mucho lo que tengo que pagar y poco lo que me ofrecen...
I have a chance to buy a Timeshare apartment. I understand I can trade it off for vacations in other places. Also I can join some organization called RCI which offer great deals. Is it worth going for or just continue paying full price each time I have a holiday?
algo que me molesto muchisimo es el tema de las cuotas de mantenimiento, me dijeron que serian fijas y sin embargo cada año suben bastante!!!!
Only pay for the maintenance for a place where you don’t even go every year and can’t rent out either..Strange that people can be fooled.
I was fraudulently issued a timeshare by Pueblo Bonito where my name was forged... I have never used this Time Share, but now their billing corporation called "Concorde" is sending reports to the Crecit Bureau and hurting my credit score. I need your help.
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