The allure of freedom from an unwanted timeshare can lead owners to seek professional assistance from timeshare exit companies. Unfortunately, not all companies operate with integrity. An East Tennessee couple, Doug and Barbara Velliquette, fell victim to a scam by Colorado-based Timeshare Help Source. Despite promises to sell their timeshares within two years, the couple was left with no results and a significant financial loss. This article delves into their experience, the legal actions taken against Timeshare Help Source, and how consumers can protect themselves from similar scams.
The Scam Unveiled
Doug and Barbara Velliquette were proud owners of three timeshares with Bluegreen Vacations, which they had enjoyed during family vacations over the years. However, life circumstances shifted dramatically after Barbara suffered a stroke. Her health complications led the couple to reevaluate their financial and logistical commitments, ultimately deciding to exit their timeshare contracts. In early 2022, they were contacted by Timeshare Help Source, a Colorado-based company that claimed to offer a solution. The company assured the Velliquettes it could sell their timeshares within 24 months or provide a full refund if the sale was unsuccessful. The promise was enticing, and their confidence grew when they attended a seminar hosted by the company in Sevierville, Tennessee.
During the seminar, representatives from Timeshare Help Source delivered a polished, professional presentation, outlining what seemed like a legitimate process. The company offered guarantees and presented themselves as experts in navigating the complex world of timeshare exits. Feeling reassured, the couple decided to proceed. They paid $15,496 for the services, signing and notarizing legal documents to formalize the agreement. The Velliquettes felt confident they had taken the right step toward resolving their timeshare concerns.
Unfortunately, the promised results never materialized. Months passed, and the couple received no updates or evidence of progress. By the time they attempted to follow up, Timeshare Help Source had ceased operations entirely. The company’s abrupt closure left the Velliquettes with no resolution, no refund, and no clarity on what went wrong. Reflecting on their experience, Barbara remarked, “We signed everything and had it notarized. Why would you think this would happen?” Their story is a sobering example of misplaced trust and the emotional toll of such schemes.
Legal Action and Accountability
Timeshare Help Source’s deceptive practices have since caught the attention of federal authorities. The Federal Trade Commission (FTC) and the U.S. Department of Justice (DOJ) have filed lawsuits against the company, alleging it engaged in fraudulent activities. Federal investigators claim the company employed high-pressure sales tactics, made false guarantees, and misled customers with promises they never intended to fulfill.
For the Velliquettes and countless others who fell victim to the scam, the road to justice has been frustratingly slow. “I would like to see them prosecuted. If they are brought to justice, I would like to be on the list of one of the clients that they scammed,” Doug shared, expressing his hope that the legal system will hold the company accountable. The collapse of Timeshare Help Source has left a trail of financial devastation. Like the Velliquettes, many consumers find themselves out of pocket, with unresolved contracts and no recourse for refunds. This case serves as a stark reminder of the need for vigilance when navigating the murky waters of the timeshare exit industry.
Lessons for Timeshare Owners
The Velliquettes’ experience highlights the critical need for due diligence when selecting a timeshare exit company. Consumer protection experts emphasize several key steps to safeguard against scams. First, request detailed plans from the company. A legitimate operation should provide clear explanations of how they will assist you; vague promises or generic guarantees are major red flags. Second, understand the costs and payment options. Avoid paying upfront whenever possible, as reputable companies often use escrow-based payment systems where funds are held until the promised services are completed. Third, thoroughly research the company’s reputation by checking reviews, Better Business Bureau (BBB) ratings, and any history of legal actions. A trustworthy company should have a proven track record of satisfied clients. Lastly, verify the company’s credentials and guarantee policies. Ensure that guarantees are explicitly stated in legally binding contracts and align with your expectations. These steps can help timeshare owners avoid falling victim to fraudulent practices.
Despite their unfortunate experience, Doug and Barbara eventually turned to Bluegreen Vacations, which assisted them in exiting their timeshares—albeit at an additional cost. While they are still seeking reimbursement for their $15,496 payment to Timeshare Help Source, their story serves as a warning to others navigating the timeshare exit process.
Conclusion
The collapse of Timeshare Help Source highlights the potential risks associated with unregulated timeshare exit companies. As lawsuits progress against the defunct company, Doug and Barbara Velliquette’s experience underscores the importance of caution, research, and seeking trusted assistance in the timeshare exit industry. By staying informed and vigilant, timeshare owners can avoid scams and secure legitimate solutions to their contract challenges.
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