EGG HARBOR TOWNSHIP, NJ–(Marketwire -07/25/12)-
Timeshare fraud is a form of crime that has been present for decades; however, despite the best attempts to eliminate it, this form of fraud is still a threat to timeshare owners today. VO Financial, which assists victims of such crime in recovering from their experience, urges timeshare owners to use caution when considering resale opportunities.

The Better Business Bureau reports that timeshare fraud is as prevalent as ever. Although criminals are pinpointing new ways to swindle their victims, the trend of false timeshare promises is affecting many owners. VO Financial, a company that is dedicated to assisting its clients in overcoming the damage that such fraud can create, warns the public to be wary of timeshare resale opportunities.

According to the aforementioned article, the currently popular scam is for criminals to convince timeshare owners to sell their stake in the property. Timeshare owners often receive a telephone call or email from “sales representatives.”

“The representative promises a quick sale, often within 60-90 days,” states the article. “The sales representatives often use high-pressure sales tactics to add a sense of urgency to the deal. Some victims have reported that sales representatives pressured them by claiming there was a buyer waiting in the wings, either on the other line or even present in the office.”

But this is not the end for some victims of timeshare fraud. After the initial crime is committed, the article reports that “unscrupulous” recovery companies contact the victims.

VO Financial believes that the best way to avoid falling victim to such criminal activity is to protect against it. The company agrees with the recommendations of the article, which are meant to assist timeshare owners in determining if a sales opportunity is legitimate or a fake. First, timeshare owners should check the company’s history at the Better Business Bureau’s website (bbb.org). If a company asks for any money up front, timeshare owners should beware. If the company does check out initially and an owner wants to move forward with a sale, it is important that they read all of the fine print.

In fact, VO Financial encourages individuals to have their legal representation look over any paperwork before signing: “It is important that all timeshare owners are comfortable with any sales associated with their stake in a property,” notes a press statement released by the company. “Owners should be 100 percent comfortable with the sales process; if sales representatives are pushing too hard or if the paperwork seems off, do not hesitate to walk away.”

ABOUT:

VO Financial assists individuals who have fallen victim to timeshare fraud, misrepresentation, and other predatory activities. The VO Financial team knows that this degree of fraud can prove overwhelming. As such, it strives to create an honest and reliable service for victims of this criminal activity, who need knowledgeable professionals upon which to rely. VO Financial is the largest timeshare consulting firm across the globe, and it aims to assist clients in recovering from fraud through high quality customer service and a dedication to doing the right thing by each case at hand.

Article source: http://finance.yahoo.com/news/vo-financial-warns-timeshare-scams-100000523.html

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