In a time where it seems as though every week brings a tale of another consumer being swindled out of their money by a fraudulent timeshare resale or rental company, it’s always rewarding to see the good guys score a win.
That’s exactly what happened recently in Georgia, where the Georgia Department of Law’s Consumer Protection Unit (CPU) reached “an agreement” with Fractional Property Services and its owners, according to a press release cited by Inside the Gate.
According to the terms of that agreement, the company and its owners have ceased operations, and will “pay $118,429 in restitution to consumers who purchased services and $305,000 in fees and penalties.”
What actions could have merited such a hefty sum? According to Inside the Gate and the Georgia Department of Law, Fractional Property Services offered to market vacation properties on behalf of consumers seeking to rent out their timeshares. However, the release explains:
“Consumers stated that the business claimed to have a renter for their timeshare, but required the consumer to pay an upfront fee. Consumers further stated that the business failed to rent or sell their timeshare as agreed and refused to refund the paid fee.”
It’s a classic story, of a piece with the countless timeshare resale and rental schemes we’ve seen over the years, down to the business’ “F” rating with the BBB and its plethora of negative reviews and complaints.
Fortunately, for consumers who were affected by the failure of Fractional Property Services to “provide or perform services… as promised,” there may be a light at the tunnel, and many of their frustrated targets may now be eligible for restitution through the Georgia Department of Law.
For details on eligibility and how to file a claim – as well as some more insight on this fascinating story – we encourage you to read more on the story here, via Inside the Gate.
Led by Attorney Michael D. Finn with 50 years of experience, the Finn Law Group is a consumer protection firm specializing in timeshare law. Our lawyers understand vacation ownership as well as the many pitfalls of the secondary market of timeshare resales. If you feel you have been victimized by a timeshare company, contact our offices for a free consultation. Know your rights as a consumer and don’t hesitate to drop us a line with any questions or concerns.