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I have also received a call from Provident Financial International, LLC requesting I sell my timeshare. Is this a scam?

Pottstown, PA |

I was asked to signed a letter of intent with a 6% commission fee to sell my timeshare. Not once did they mention that I also have to pay a 10% assignment fee BEFORE they will send my wire transfer to pay for the timeshare. I have now been sent to DB Escrow, LLC (their website is under construction!) and have been asked to send the 10% "assignment fee" wire transfer to their Mexican Bank, Servicios Polibibli. I tried 2 bank transfers and neither the bank nor the account number worked. I have now been asked to send the 10% wire transfer thru a Wells Fargo or First Niagra account. Is this a scam and how do I get out of it?

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Attorney answers 3

Best Answer
Posted

Don't send anything further!!! You should call the Pennsylvania Attorney General's office to get them to act quickly on your behalf. People like this fly with the wind and you need to get them while the trail is hot.

http://www.attorneygeneral.gov/complaints.aspx?id=451

The foregoing is not legal advice nor is it in any manner whatsoever meant to create or impute an attorney/client relationship.

Asker

Posted

Thank you very much, Robert. I will certainly take your advice to heart and submit my complaint to the Attorney General's Office.

Posted

Anything that asks for wired money, especially to a foreign bank, is a scam. Don't do it.

Avvo doesn't pay us for these responses, and I'm not your lawyer just because I answer this question or respond to any follow-up comments. If you want to hire me, please contact me. Otherwise, please don't expect a further response. We need an actual written agreement to form an attorney-client relationship. I'm only licensed in CA and you shouldn't rely on this answer, since each state has different laws, each situation is fact specific, and it's impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue.

Asker

Posted

Thank you for your assistance. I already signed the Letter of Intent. How do I legally get out of this? Suggest to the Escrow company that I would like to bring a lawyer in on my behalf? Will that scare them or do I need to legally get out of the document now that I have signed it? Thanks again.

Asker

Posted

Thank you so much for your time and assistance.

Posted

SCAM. Don't do it. They will take your money and give you NOTHING.

I am an Attorney-at-Law, licensed to practice law only in the state of California. Unless we have both signed a formal retainer agreement, you are not my client, and my discussion of issues does not constitute legal advice. Opinions expressed herein are those of the author, and do not necessarily represent the opinions of those who hold other opinions.

Asker

Posted

Thank you so much for your time and assistance.

Asker

Posted

I already signed the Letter of Intent. How do I legally get out of this? Suggest to the Escrow company that I would like to bring a lawyer in on my behalf? Will that scare them or do I need to legally get out of the document now that I have signed it? Thanks again.

Gary Ralph Ilmanen

Gary Ralph Ilmanen

Posted

Tell them that you have done your due diligence, will not continue to do business with them, and revoke your letter of intent. Don't believe anything that they tell you. They will likely say that you can be put in jail if you don't pay the money, or other such BS.

Asker

Posted

This has all been very stressful. The escrow company wants their payment immediately, but then they seem to allow for extensions at the last minute because I can't snap my fingers and make it happen. How did I fall in to this trap? I'm trying to sell a timeshare my parents bought back in the 80's. What a racket! Thanks again for your assistance, Gary. I greatly appreciate your time.

Gary Ralph Ilmanen

Gary Ralph Ilmanen

Posted

You are welcome. I know there are some reputable outfits that resell timeshares, but never dealt with any. As to your current fiasco, tell them to just send you 90% of the money? Nah, they are crooks. Not worthwhile.

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