Scams are not new in the timeshare industry. It is so prevalent nowadays that there are new laws and rules implemented just to prevent these from happening. As the timeshare industry had been tarnished by these fraudulent deeds and there is an increasing number of owners who try to get out of their timeshares, there are still many individuals who buy such property. However, when buying a timeshare, just be extra cautious as the possibility of being scammed is not unlikely.
Recently in UK, there are two men who have been jailed for two-and-a-half years after 50 people were conned out of more than £460,000 in a timeshare holiday scam. The two men were Arthur Goddard, 60, who ran Graig Park Village Ltd which was based in Denbighshire and sales director Alan Hill, 51. After the two were convicted of fraudulent trading, Goddard was ordered to pay more than £600,000 in costs and compensation.
The scam which was between May and December 2007, involved inviting people on a free mini-break at Graig Park, Dyserth, on condition they attended a sales presentation. Many found themselves under severe pressure to sign up to timeshares on holiday lodges in Dyserth and the safeguards of the Timeshare Act 1992 were flouted. M any people were not informed also of their right to cancel the agreement.
Currently, scams aggravate the unattractive image of the timeshare industry. Take note that there are several owners trying to get out of their timeshares while some even hire a timeshare transfer company such as the Transfer Smart. On the other hand, seeing those scammers pay for their unjust deeds somehow bring back the consumer confidence for this industry.