Timeshare resale

Mosaex_2

We got a phone call recently to ask if we wanted to sell our timeshare (or something like that). Great except we didnt know we had one!! We attended one of those presentations years ago with the promise of a free holiday and having paid an admin fee got nothing! We eventually gave up and put it down to experience.
Now this company holiday rentals direct eu have offered us £4000 for our property. Sounds fantastic getting money for something that we didnt know we had. Then came the catch- we have to pay 1195 euros for the companies securty- but they guarantee we will get it back with the £4000!!!
As I write this I am sure its a scam but wanted to hear if anyone has had a similar experience with a positive outcome.
Oh the company also said that we should pay by credit card as our money would be secure if they were'nt kosher.

bod1467

It's a scam. I have not seen ONE timeshare/holiday rental resale scheme that has not been.

But unless you paid out several thousand pounds following the "admin fee" then you most likely don't have one anyway. And if you did you would have been chased for annual maintenance charges.

somethingcorporate

An absolute scam. Once they have got the 1,000+ euros from you then it will be another 1,000+ etc etc. Until they have rinsed you and you are left with nothing.

tomwakefield

Suggest they take the admin fee out the £4000 and only send you a cheque for ~£3000, then see what they say

mo786uk

Avoid like the plague

Timeshare is one of the most common areas of consumer issues. It is also very complex.

unholyangel

Mosaex wrote: »

Oh the company also said that we should pay by credit card as our money would be secure if they were'nt kosher.

Your money wouldnt be safe exactly. The cc company would be jointly liable under section 75 of the consumer credit act. Meaning they'd likely have to refund you but they wouldnt get the money back.

Of course, section 75 doesnt apply to all transactions. It doesnt cover those paid to a third party (like paypal for instance).

isplumm

Mosaex wrote: »

We got a phone call recently to ask if we wanted to sell our timeshare (or something like that). Great except we didnt know we had one!! We attended one of those presentations years ago with the promise of a free holiday and having paid an admin fee got nothing! We eventually gave up and put it down to experience.
Now this company holiday rentals direct eu have offered us £4000 for our property. Sounds fantastic getting money for something that we didnt know we had. Then came the catch- we have to pay 1195 euros for the companies securty- but they guarantee we will get it back with the £4000!!!
As I write this I am sure its a scam but wanted to hear if anyone has had a similar experience with a positive outcome.
Oh the company also said that we should pay by credit card as our money would be secure if they were'nt kosher.

I would do some research on timeshare resales - there is hardly any market for them .... if you hand over any money, then you will never see it again ... also i would check that the cc would be liable ....

Mark

spike7451

BBC had a programme on today about this,sadly it looks like the OP's now on 'the bucket list' & will be getting more calls like these...

You can watch it here;

http://www.bbc.co.uk/iplayer/episode/b017k65t/Youve_Been_Scammed_Timeshare_Scam/