Credit Card Disputes for timeshare fraud
чEven if the credit card was previously owned by the client, the likelihood of being able to cancel a timeshare scam contract via the credit card company is very low. The typical process is that the client will file a dispute with the credit card company, claiming that the timeshare company misrepresented the details of the timeshare contract. The credit card company will post a temporary credit back to the clientчґs account while the dispute is being processed. The resort will be informed by the credit card company that the charge is being disputed on the basis of timeshare fraud. The resort is required to show written proof of the clientчґs acceptance of the terms of the contract. In most timeshare scam cases, this works in the resort"s favor as all the misrepresentations made are usually verbal promises. The written contracts are carefully reviewed on a regular basis by the resort"s legal team to ensure that it covers their interests, and not the clients. Once the resort sends a copy of the written contract to the credit card company, in most cases, the credit card company is required to repost the charge back onto the client"s credit card.
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Other clients who have rescinded their timeshare contracts within the 5 day cancellation period allowed by Mexican law, and filed a credit card dispute at the same time, have found that the dispute process can delay the refund process. Normally, if a refund is approved by the resort, they will process it back to the credit card where the charge was initiated originally. If the charge is already in the dispute, the resort will require the dispute to be finalized before any refund is made, in case the temporary credit back to the card by the credit card company becomes permanent. This can delay the refund of the money and cause confusion for the timeshare scam victim.
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In some cases it can be advantageous to file a credit card dispute. For example, if your payment is due, and you have hired our services to cancel your contract, this can be a way to delay the credit card payments that you were already required to make, without incurring interest charges or negative reports to your credit score.
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If you feel you need to contact professional assistance with your timeshare matter, contact a company who is willing to work on a contingency basis. never pay upfront for a service in the timeshare industry.