Is this a scam?

[brenda]

My friend is worried sick.She believes that she has been a victim of a time share re-sale scam.
It happened like this , a company rang her and offered her a good price for her 1 week of time share.
They said they had a person ready to buy this.
She paid 700euros on her credit card to this company and within a couple of days she received a contract 1 page, attached to this was acredit card slip for her to sign.She has checked her credit card statement on-line and the money has been taken.

The company has rung her 3 times asking her to sign the contract and thecredit card slip at once and return it to them.
She has not done this so far because the contract etc came from Malaga
and she is worried they may take even more money., if they have her signature.

I am out of my depth with this and do not know how to help here.
Advice please.

[Ethel]

What does the contract say? There is a scam where they pretend to have a buyer but in reality they don't - you just go on a list.

If there is a cooling off period on the contract - cancel it now.

In any event, get in touch with the credit card company and try and get the money back. This is not the way to sell timeshare

[bednobs]

why did she have to pay 700 euros if they wanted to buy the week off her?

[buildersmate]

Just as Ethel says.
All the folks previously selling new timeshare now put their energies into this approach.
There is little or no evidence that timeshare is being resold from these 'offers'.
One pays money upfront to cover their costs, to be repaid in plenty when the (inflated) price they are offering comes to fruition. Then, mysteriously, the buyer withdraws or falls under a bus.
700 Euros already lost - take action with CC company to ensure they don't release any more. That shouldn't happen as the Malaga company has no mandate, however the 700 is unlikely to be returned by the CC company as the authorisation was properly made and signed for.

[999]

if somebody called me up offering to buy something off me i certainly wouldnt pay them money.. of course its a scam

[dzug]

I'm afraid time shares have a virtually zero resale value.

Yes it's a scam

[pbeach]

http://www.oft.gov.uk/news/press/2009/10-09

Follow the link - its important

[brenda]

Thank you for your answers --all of you. She is coming round tonight so will show here these and she can begin to sort things out for herself.This may help take her mind of the money she has lost. I cannot imagine how she got involved , she is normally very sensible and not easily conned. But there you are a foolish expensive moment for her.I only wish I could have helped her.

[brenda]

buildersmate---- am clutching at straws here for her, but she has not signed anything so far She apparently gave the company her Cc number and security number on the back over the phone. This seems to have generated a credit card slip and a 1 page contract for her to sign both and return to Malaga.?????

Have just spoken to her on the phone to get this info.

[buildersmate]

Ethel or Dzug probably better on this than me.
I thought that she would have a claim on the CC company on the grounds that none of the 'accepted' valid processes for the purchase of a service using a CC has been followed? Distance Selling Regulations (whereby customer was not present and did not physically provide a signed slip) may apply?

[brenda]

Thank you again for all the advice you gave for my friend.She is resigned at the moment to having lost this cash , but is following all the advice given, especially on the website.
She knows she has been stupid but then which one of us hasn't been at some time in ourlife.
Will keep you all posted ,as and when there is something to Thanks to all
Brenda.

[Uzoma]

If she paid with a CREDIT card then I'm fairly confident that as long as no goods have been received the bank/financial institution WILL refund all monies. The rules are totally different if a DEBIT card is used so it is vital that she is aware of which she used. I'm assuming that the card has been cancelled now.

[brenda]

She did pay by credit card, now cancelled.

The cc company say that they will not refund her money , because the re sale company have actually sent her a contract to sign , therefore she has received something tangible from them in .return for her cash which she willingly gave.

She is also putting up the shutters with me on this one , so may not have more to relate.