Understanding Timeshare Scams [Episode 170]

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Attorney-CPA Joe Cordell and co-host Jill Enders are rejoined by Don O’Brien, an investigator for the Better Business Bureau to highlight scams that can occur, involving timeshare properties.

The group highlights how the timeshare industry and societal perceptions of timeshare properties have evolved, as well as common techniques that people have used, in order to exit ownership. They dissect a Better Business Bureau study from 2016 that involved 700 complaints against Missouri timeshare relief companies that reported millions of dollars in losses.

From that study, they describe how Missouri compares to others states, in terms of complaints filed against timeshare exit scams, as well as why seniors may be so vulnerable to these types of scams. Don talks about the possibility and commonality of consumers getting their money back and whether or not falling victim to a timeshare exit scam may affect your credit.

Don also goes into detail about the scam involving a deceased family member and how their loved ones supposedly become financially responsible for the timeshare property.