They report that, although initially interested, having checked the internet forums for any findings on ITRA, they discovered that many consumers have already lost money through ITRA and its related resale scam company, ETOO.

In response to this member’s report, SOCC chairman Jeff Elder stated: “The Office of Fair Trading (OFT) is actively seeking information from consumers who have been conned or have been approached, as you have been. They are aiming to stop the scammers, which is not easy, as they keep popping up with new names. For example, we were aware of the notorious ETOO, but not ITRA.”

He went on to say that timeshare owners who have received such approaches by scammers claiming to be resale agents and promising a 'guaranteed buyer' and a high price for their unwanted timeshare are urged to pass these complaints on to the OFT. 

How the scam usually works is that consumers are first tricked into making an upfront payment of several hundred pounds, to cover so-called 'administration costs' or 'land registry charges' but then the 'definite buyer' falls through. The consumer is subsequently asked to attend a meeting with another buyer, often referred to as a 'corporate buyer,' to discuss their offer. Usually these meetings take place some distance from the consumer’s home – often abroad, most commonly in a Spanish resort or other holiday destination – where the consumer is made to sit through a high pressure sales presentation often lasting several hours. They will then often be offered membership of a bogus holiday club in exchange for their timeshare, plus an additional payment of several thousand pounds and the consumer will be heavily pressured into making a decision on the spot.

Genuine avenues for timeshare resale do exist but the OFT advises owners to always take advice first, do some research on the company making the offer and to check out the truthfulness of any promises made before making a decision.  Should you be approached and need any advice, feel free to call Seasons Membership Services on 01994 426000.

To read what Seasons Chairman has to say on the subject , as well as further guidance from the OFT, click on the 'read story' button below.