There are thousands of conmen all over the world prepared to sell you a dream if you will listen but who gains the debt and who makes the millions?

For a while now, companies have been cold-calling and pushing plots of land to potential investors promising that planning permission will soon be granted and the £5,000 that you innocently handed over will magically turn you into a property tycoon overnight. What really happens is you lose £5,000, the land company banks a nice wad of cash which accrues interest in the bank and you own a weed ridden piece of field just south of nowhere while debt problems loom over your head.

People are also being lured into spending up to £15,000 by signing to companies which offer timeshares. Once the agreements have been completed, buyers usually find it impossible to find a date that has not already been reserved. Even though, they are unable to enjoy their investment, they are still expected to adhere to the terms and conditions of their contract and pay yearly subscription fees.

Timeshare scams normally attract people through telemarketing campaigns or free scratch cards which encourage people to arrive at sales seminars and leave £3,000 in debt.

Timeshare laws make life easy for scammers as memberships are not connected to a property. Plans to protect the buyer from timeshare operators are expected to come into force by 2010. The cover will prohibit time share organisations from taking money upfront at seminars etc. They will also enforce a two week cooling off period for customers to change their minds.

Between now and 2010, customers are strongly advised to ignore sales patter from timeshare operators who will rid you of your cash, leaving you with an empty space in your wallet, not to mention an empty space in the sun. Don't let a property scam land you in an IVA or worse - bankruptcy.