In continuing recognition of National Consumer Protection Week, Attorney General Bill McCollum today announced he is tackling growing abuses in the timeshare resale industry, beginning with the announcement of a significant settlement that could yield as much as $1.3 million in consumer refunds and the filing of a lawsuit against a major player in the timeshare resale industry in Florida. The Attorney General also unveiled ongoing investigations into at least 17 timeshare companies and their affiliates throughout the state for deceptive trade practices.
“Florida’s consumers are trying to make prudent financial decisions, but many timeshare resale companies are blatantly scamming people by promising sales or refunds and failing to provide services even after taking hefty up-front fees,” said Attorney General McCollum.
The statewide initiative was launched by the Attorney General’s Economic Crimes Division in 2009 in response to the growing number of timeshare resale complaints received by the Attorney General’s Office last year.
Timeshare resale complaints have recently surpassed mortgage-related complaints as the most commonly reported consumer complaint received by the Office’s Consumer Hotline.
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