The Veterans Timeshare Donation Scam is one of the most deplorable of all timeshare donation scams. Pretending to “benefit” America’s wounded and often financially struggling troops by taking your timeshare off your hands for a large fee is lower than low.
The are several different levels of fraud going on in this shell game of timeshare donation scams. Frequently, the promoters of this “business model” obtain telephone numbers of timeshare owners and cold call them. The calls will include questions of if and how much they enjoy their timeshares and if they would be interested in donating said timeshare to a charity benefitting America’s Veterans. Many good-hearted timeshare owners (who may or may not already be seeking a way get out of timeshare contracts) will be more than happy to turn their timeshares over to help a soldier.
There is, of course, no Veterans donation charity attached to the scam company. No charity wants to take on a financial liability that has negligible inherent value. So, how does the Veterans Timeshare Donation Scam company make money? They charge the charitable timeshare owner a fee of thousands of dollars to donate timeshare to veterans.
Should you donate your timeshare for vets?
Then, the Veterans Timeshare Donation Scam perpetrators transfer the title of the timeshare into a shell company, i.e. a corporation with no assets, whose sole purpose is to take on debt with no purpose other than to ultimately go bankrupt. It is essentially a “timeshare trashcan.” The resort is left holding the bag, as the shill company will never pay any of the associated timeshare fees.
If you’re considering donating as a form of Florida veterans assistance, start by contacting the Veterans’ Administration and find out what charitable organizations are VA approved. The good intention of donating your timeshare for vets is a noble endeavor, but there are many unscrupulous companies and individuals out there who are eager to take advantage of your good nature.
By co-operating with these types of organizations, you are inadvertently doing a disservice to those philanthropic veterans assistance programs who legitimately are trying to come to the aid of America’s Veterans and their families. Proceed with caution and do a thorough investigation of any company that claims to be in the business of accepting donations of timeshare for vets.
Timeshare donation for Florida veterans assistance may not be a legal tax write off
What makes this scheme even worse is the fact that the original timeshare owners who “donate a timeshare to charity” are often convinced to do so with the promise that they will be able to write off the charitable donation on their taxes, ultimately recouping the fees that they had to pay to donate a timeshare to Veterans along with the “full market value” of the timeshare.
Unfortunately, what they are not usually told is that the full market value of their timeshare is nearly nothing since there is essentially no resale market for timeshares currently. The only value in a timeshare is the enjoyment you have gotten from the vacations you have spent there. If you want to help America’s Veterans, it is better to make a cash donation directly to an official Veteran’s charity than to try to pass your timeshare to a Veterans Timeshare Donation Scam.