Beware of Vacation Ownership Scams: Protecting Yourself from Fraudulent Calls

In recent years, there has been a rise in vacation ownership scams targeting unsuspecting individuals. These scams often involve fraudulent calls from individuals claiming to have a large group or wedding, offering to buy back your vacation ownership for rental time in return, if you just pay the taxes. However, it is important to be aware that these calls are nothing more than attempts to defraud you of your hard-earned money.

Scammers use various tactics to make their offers seem legitimate. They may provide you with detailed information about your vacation ownership, including the name of the resort and the dates of your ownership. They may also claim to be affiliated with well-known travel companies or offer enticing incentives such as discounted vacations or free upgrades. However, it is crucial to remember that these scammers are skilled at deception and will stop at nothing to convince you to part with your money.

One of the red flags to watch out for is the request for payment of taxes. Scammers often claim that you need to pay taxes upfront in order to complete the transaction. They may even provide you with a seemingly official payment portal or ask you to wire the money directly. However, legitimate vacation ownership companies do not require upfront payment of taxes in this manner. It is important to always verify any payment requests directly with the company before making any transactions.

Another common tactic used by scammers is to create a sense of urgency. They may claim that the offer is only available for a limited time or that there are multiple interested buyers waiting in line. This pressure is designed to make you act quickly without thoroughly researching the legitimacy of the offer. Remember, legitimate companies will never pressure you into making a hasty decision.

Protecting yourself from vacation ownership scams requires vigilance and awareness. Here are some steps you can take to safeguard yourself:

1. Do your research: Before engaging with any caller claiming to buy back your vacation ownership, research the company thoroughly. Look for reviews, check their website, and contact their customer service to verify the legitimacy of the offer.

2. Never share personal information: Be cautious about sharing personal information over the phone. Scammers may try to obtain your credit card details or other sensitive information to commit identity theft or fraudulent transactions.

3. Verify payment requests: If you are asked to pay taxes or any other fees, contact the vacation ownership company directly to confirm the payment request. Do not rely solely on the information provided by the caller.

4. Report suspicious calls: If you receive a suspicious call, report it to your local authorities and the Federal Trade Commission (FTC). Providing details about the call can help authorities track down and apprehend scammers.

5. Spread awareness: Share your experience and knowledge with friends and family to help them avoid falling victim to vacation ownership scams. The more people are aware of these scams, the harder it becomes for scammers to find new victims.

Remember, if an offer sounds too good to be true, it probably is. Protect yourself by staying informed and being cautious when dealing with any unsolicited calls. By following these steps, you can reduce the risk of falling prey to vacation ownership scams and help others avoid becoming victims as well.