A couple of weeks ago or so, Channel 7 in Dayton (WHIO-TV) did an extended segment on multiple newscasts warning viewers about potential frauds in the area. They spent a great deal of that time covering Ohio’s new law to prevent or reduce instances of phone spoofing that included an interview with Ohio Attorney General Dave Yost. I am happy to report that this column over the past year has addressed each fraud covered by the WHIO report along with several others not covered by WHIO. While I appreciate WHIO-TV alerting their viewers to potential frauds, this column is able to cover those scams in more detail. So, hopefully you will keep reading and stay alert to the scams invading your privacy every day.

The scam addressed for this month, which was one not covered by the WHIO report, is all the offers to sell your timeshare or cancel your timeshare agreement. While I never invested in a timeshare, I know many people who have and many who later regretted it. Not everyone who invested in a timeshare regretted so doing but certainly a sufficient number regretted their “investment” to cause numerous firms to advertise to the general public that through them, the timeshare owners will be able to end their timeshare agreements.

Many, if not most, of the exit firms offer a “100 percent refund of the money you pay them upfront IF they are unable to get you out of your commitment. Here’s the problem. According to www.TimeshareExitCompanies.com, “there are now over 100 timeshare exit companies to choose from as of September 2021.” Typical questions that are hard to answer include:

1. Which companies will actually refund your money as promised with minimal effort on your part?

2. How many of these companies will be in business long enough to succeed or refund your money?

3. What is the upfront cost in the first place and how do I best research over 100 companies to determine the answers to these and other questions I should be asking?

4. What are the other questions I should be asking before I “invest” more of my hard-earned dollars?

I am aware of a case that is probably not untypical wherein a couple contracted with one of the timeshare exit firms to extricate them from their timeshare ownership. They paid the exit firm $3,700 to get them out of their ongoing commitment, punishable by liens and lawsuits if they failed to pay the monthly maintenance agreement for a timeshare they were never able to use. Another exit firm wanted $7,000 to do the same thing. When nothing happened after an extended period of time, the couple attempted to contact the exit firm only to be redirected to another firm that had purchased the first exit firm. The new exit firm claimed they had no obligation to honor the refund provisions of the first exit firm. (Evidently this was repeated a sufficient number of times to bring a class action lawsuit but then that required another $700 payment to facilitate the paperwork by the law firm handling the class action suit.) Currently, the couple is awaiting final disposition of the legal actions to hopefully extricate them from their timeshare commitments.

Of course, I am sure of the 100-plus timeshare exit companies currently in existence, some will just disappear, i.e., close the business without notification much less refund the prepayment made to them.

So, the next question is, “Are there any reputable timeshare exit firms with whom you should deal and is there a better way with which to contract with them?” Evidently there are, but not having been personally involved with the problem, I cannot make any explicit recommendations. However, TimeshareExitCompanies.com does have some useful recommendations.

• Their #1 recommendation is to work with a company that offers an escrow payment option so the exit firm is not paid in full until after the timeshare contract is completely cancelled. They note that “This puts you in control of the timeshare exit process because you decide when the timeshare exit company gets paid.”

• It seems like a “no-brainer” but be certain to have a legitimate written contract with the exit firm.

• Finally, check the exit firm’s BBB (Better Business Bureau) rating insuring that the exit firm has no pattern of complaints. However, be aware that even unscrupulous companies can obtain a good BBB rating. Perhaps you have run across one or two. I have.

Obviously, getting out of one’s timeshare agreement is a major problem or there would not be over 100 exit firms, many who are advertising repeatedly on both radio and television as well as robo-calling.

In conclusion, I recommend that you use caution in selecting the timeshare exit firm with whom you do business; thoroughly perform your due-diligence ahead of time. Good luck extricating yourself from those pesky monthly or annual timeshare maintenance and other administrative fees.