Florida Forced to Enacts Protective Initiative on Timeshare Resale Corporation

March 11th, 2010

Florida Forced to Enacts Protective Initiative on Timeshare Resale Corporation

Attorney General Bill McCollum has publicly announced that his office will be cracking down on the timeshare resale industry as public outcry from Florida’s timeshare consumers continues to grow. In light of National Consumer Protection Week, McCollum is currently undergoing investigations into at least 17 different timeshare companies for deceptive practice. The settlement for these cases could yield around $1.3 million dollars for consumers who were lied to by the timeshare companies. The statewide initiative was undertaken by the Attorney General’s Economic Crimes Division in 2009 as timeshare resale complaints grew to surpass mortgage-related complaints as the most common consumer complaint received by the Office’s Consumer Hotline. One specific company operating out of Orange County, Virtual Group, Inc. who owns Realty Trade, has already been ordered to pay over $800,000 in refunds to 799 consumers. Common complaints range from false claims, alleging there are buyers lined up, and paying up-front fees and never seeing results.

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