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The Federal Trade Commission is sending refund checks to people who were allegedly defrauded by Timeshare Resales LLC, Williams Enterprises, and others.
Reportedly, the FTC is sending out 8,088 checks, totaling almost $2.7 million. The average check amount is $332, says that FTC.
The checks are being sent out as compensation to customers, as part of a settlement that the FTC reached with Timeshare Resales LLC and associates.
The settlement ends claims that the company intentionally lied to customers about timeshare sale and rental opportunities, and fraudulently charged them fees to assist with the sale.
The FTC says that between November 2011 and December 2016, Pro Timeshare Resales LLC tricked customers by charging them a fee to allegedly sell their timeshares, which the company did not do.
The company would reportedly lie to timeshare property owners and tell them that they had a buyer or renter who wanted to buy or rent the owners’ property. The FTC says that the company then charged customers a fee to rent the timeshare, but never rented it. The FTC says that the company charged customers around $3,500 in upfront fees, sometimes charging them even more.
According to the FTC, Timeshare Resales told customers that they would sell or rent the timeshare for a specified price, but failed to do so. In other instances, customers say that the company promised to sell or rent the timeshare quickly, but did not do it as promised.
According to the FTC, timeshare scams occur when customers have to pay money upfront when a company says that there is a buyer, and then the customer finds out that that there was no buyer. Allegedly, the customers are then not able to get their money back, even after they discover that there is no buyer.
The FTC provides information to help customers watch out for timeshare scams on its website.
In addition for compensation for allegedly affected customers, Timeshare Resales LLC’s agreement with the Federal Trade Commission also bans the company and its associates from participating in timeshare resale services and marketing.
According to the FTC, the company is also required to surrender assets, in order to provide refunds to customers. Assets that will be surrendered reportedly include homes, vehicles, silver coins, and jewelry including a Rolex watch and a diamond ring.
The FTC advises customers who receive a check to cash it within 60 days, as it will expire after that time. The FTC also notes that customers who receive an FTC refund check are never required to pay money or provide personal information to cash the checks.
Customers who have questions about the refund checks should contact settlement administrator JND Legal Administration at 1-844-546-3045.
Have you ever experienced a timeshare resale scam? Share your story in the comment section below.
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65 thoughts on$2.7M Timeshare Resale Scam Checks In The Mail, Says FTC
I paid Sellmytimesharenow (SMTN) in May of 2020 only had one inquiry which was also a few days later in May of 2020. It’s 2023 and I contact them every year still no sale. My unit is paid off but still paying maintenance fee ever year.
RCI should be sued
Legacy adventures of TX act like they are buying the time share for a club 365 for RCI it’s all a scam I’d like to see them be held accountable
We owned several time share one in Florida, which we never got to use, we was told at the time that they had a buyer for property we had in Fairfield and the money from Fairfield would pay for the one in Florida. We signed the papers and guess what the buyer canceled out and we had so many day to decided if were happy with our Florida deal. We did not know this till we got home . we was stuck with another bill , we was time share poor . Their talk is good and the time share are lovely, but when you get old they do not buy back, cost me money just to get rid of them
I owned a timeshare at Fairfield, for 15 years Before it was paid in full my co-owner died, which we had insurance, through the co, Never received a dime, When I develop Breast cancer, and got behind in maintenance,which went from $160 a year to $700, I was told they would sell the week for me, I sent copies of the deed, Never got one penny, This been about 9 years ago, Add me please
My late husband and I paid several companies to selL our timeshares for us.
The last one was Legacy Adventures in Spring, Texas. We paid $23K for them to sell 5 timeshares in 2015. I was told thatI would be reimbursed annual maintenance fees during the time they had not sold the properties. I never received any money and they still have two properties that have not been sold and I still have to pay maintenance fees or the companies that own them will report me to a collection agency and ruin my excellent credit.
Could you please help me?
Yes, add me/