Double Dip Timeshare Scam

Double dip timeshare scam

In 2018, 1155 people in the UK reported that they had been scammed by companies claiming to help them recover money from a previous timeshare scam. This is commonly referred to as the double dip timeshare scam.

Action Fraud put out a warning to all victims of timeshare fraud to not fall for the second scam. It is estimated that this double dip timeshare scam conned British residents out of more than £7 million in less than a year!

If you have not asked for the call, then do not continue with it!!!

If you have been scammed by companies claiming to sell your timeshare or recover compensation on your behalf, please remain vigilant. There are legitimate companies out there, but some scam companies are re-targeting their first victims in this second wave.

The victims of this timeshare claims scam are said to be between 50 – 81 years of age. These criminal organisations have contacted their victims by cold calling.

Why this double dip timeshare scam works

Using the personal information obtained during the first scam makes it easy for the fraudsters to sound like they are contacting them from a governing body. The news of being able to recover compensation puts their victims in a false sense of security.

The victims are then asked for £2000 – £9000 to cover the legal fees or unpaid maintenance fees in order to submit the claims. Once this has been paid the victim will receive no further contact from them.

Fraudsters often target people who have previously lost money in a scam. They know that the victims are vulnerable and would do anything to recover the money that they have lost. Acting in this way is just digging themselves a deeper hole. Similar to gamblers trying to recover their losses at a casino.

For more information on timeshare scams click here

Have you paid a company to relinquish your timeshare and not heard anything back from them? 

First thing you should do is contact your timeshare resort to find out if you still own it. If you would like to speak to a specialist in regard to exiting a timeshare contract legally please arrange a free telephone consultation.

Use our FREE compensation calculator to find if you are entitled to compensation!

Read full article published online in The Sun on 29 August 2018