The idea of having a built-in retreat destination at your disposal when you purchased your timeshare can quickly lose its luster when you step into the reality of timeshare ownership. Once you determine what you want out of your timeshare, you will quickly learn more people are trying to sell timeshares than are buying. This then leaves you in a conundrum. You don’t want to ruin your credit by defaulting on payments/fees. You also can’t keep paying for a timeshare you aren’t able to utilize as frequently as you thought or that is costing more than you anticipated. This is where the timeshare exit/relief companies enter the scene and promise to make everything okay once again. Here’s the truth about these companies and the answer to “do timeshare relief companies work”, and why we feel you are much better off obtaining the help of a skilled timeshare attorney to remedy the situation:
What is a Timeshare Exit/Relief Company?
In short, many timeshare exit or relief companies are fraudulent businesses that claim to help you get out of your current timeshare ownership. The methods they suggest rarely work and often leave you as the timeshare owner responsible for the consequences, which can negatively impact your financial standing for years. Complaints about these companies have been on the rise of late and are inundating the Better Business Bureau. Suffice it to say, you want to stay away from these companies at all costs.
How to Timeshare Relief Companies Work
In many cases, a timeshare relief company will reach out to the owner of the timeshare and try to convince them that they (the relief company) can get them out from under their legal obligation pertaining to their timeshare. This sounds great to the owner, who is struggling to maintain their property fees and just wants to be out from under contract. They pay the so-called relief company to help them navigate the exit process. The company claims to assist the owner in transferring, redeeming, or selling their timeshare. Of course, in actuality, they are doing nothing but taking money from the owner, and following their suggested actions—many of which are illegal—can actually cost the owner even more money and negatively impact their financial standing.
False Guarantees and Timeshare Transfer Scams
Timeshare exit companies or relief companies often promise or guarantee that doing whatever they say will cancel the timeshare. Of course, these promises of freedom never come to fruition. Timeshare exit scams can include unmarked calls from exit companies claiming they have a buyer prepared to purchase a timeshare right away. It might also involve a promise of transferring ownership of the timeshare. These scams will often include exorbitant upfront fees for their services. In nearly all the scams, a timeshare exit company promises a timeshare owner that if they pay them a certain fee, they will get them out of their timeshare, either through finding a buyer or some other method. Of course, once the money is paid, the actual follow-through never happens. The timeshare owner is left in a much worse situation than before.
Contact an Experienced Timeshare Attorney
The right way to go about getting out of an unwanted timeshare is most often to contact an experienced timeshare attorney. They know all the legal ramifications of any action and can guide you through the process, helping you to be free of your obligation in a legal way that doesn’t hurt your financial standing or reputation.
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