ROHNERT PARK, California, August 20, 2018 / PRNewswire / – Picture this: An elderly couple receives a call from a stranger claiming that they have won a free “luxury” vacation. The person on the other line looks professional and seems to know what they are talking about. However, the couple begin to be suspicious when the stranger asks for credit card information. They have even more doubts when the caller cannot spell out details such as what exactly “luxury” and “five stars” mean. While this may sound like a plot taken from a daytime police show, it happens every day across America. Ameritech Financial, a document preparation company that helps student loan borrowers apply for federal repayment plans, supports Federal Trade Commission advice to lodge complaints if consumers meet travel scams. Student loan borrowers could be at a greater disadvantage than the average consumer as they face greater repercussions if they miss their monthly payments, regardless of the financial hardship created by a travel scam.
The FTC has several resources to learn more about travel scams and they offer specific advice from state attorney general offices, consumer departments, justice ministries and more. Timeshare resale scams are a specific problem that vacationers may face. Learn more about this problem in an excellent educational piece which was written by from minnesota attorney general and who is recommended by the FTC. The article offered several tips on how to avoid this scam, such as warning buyers not to “be fooled by fancy websites or names or addresses of reputable businesses” because “a reseller … could be a con artist. at the other end of the world”. They also suggested researching the license information of the alleged reseller to make sure they are operating a legitimate business. Consumers of all ages can be easily fooled by professional scammers, especially in business transactions as complicated as timeshare sales and resales. Ameritech Financial cautions its clients to read all contracts carefully and seek professional advice if they are confused by any of the terms and conditions.
Additionally, the FTC has its own advice for U.S. consumers considering buy a timeshare. Their experts suggest that potential buyers research the full cost of a timeshare, including “mortgage payments … travel costs, annual maintenance fees and taxes, closing costs, brokerage commissions and finance charges. “. Keeping all of these costs in mind will help consumers be fully aware of their investment and their options. Another key point buyers should remember is not to give in to the high pressure sales tactics of timeshare sales reps.
Student loan borrowers should be especially careful and consider all of their financial obligations (like their monthly debt payments) before entering into a timeshare deal. If they do their due diligence (and can chat with a financial expert as well), borrowers have a better chance of maneuvering the timeshare buying process without getting ripped off.
While Ameritech Financial cannot offer specific timeshares advice, it can recommend income-driven repayment plans for borrowers through the Department of Education that can lower their monthly payments for their federal student loans. Reducing their monthly student loan payments could help consumers afford the vacation of their dreams. Ameritech Financial is proud of its experience in assisting borrowers with the application process for such programs.
About Ameritech Financial
Ameritech Financial is a private company located in Rohnert Park, California. Ameritech Financial has already helped thousands of consumers with financial analysis and preparation of student loan documents to apply for federal student loan repayment programs offered by the Department of Education.
Each Ameritech Financial telephone representative has received the Certified Student Loan Professional certification through the International Association of Professional Debt Arbitrators (IAPDA).
Ameritech Financial prides itself on its exceptional customer service.
To learn more about Ameritech Financial, please contact:
5789 State Farm Drive # 265
Rohnert Park, California 94928
Island art with a vacation feel
Credit: kit8net / Bigstock
SOURCE Ameritech Financial