timeshare trouble

[malito650]

does anyone have any experience with getting out of a time share contract....private attorney or time share exit company ?  I find myself on the edge of a nightmare....

[Bighead]

The first first word in the title is all you need to know Time....share.

[RDKLL]

Saw this somewhere, commercial or something. No connection or endorsement...
https://timeshareexitteam.com/

[Gavin_Sons]

Saw this somewhere, commercial or something. No connection or endorsement...
https://timeshareexitteam.com/

I have heard about them on the radio. Might be worth a shot. Our friends are in the same boat. They have tried to sell it for a couple years. Now it's to a point to either pay it off or find an exit somehow.

[Oss]

you may be able to rent it out

redweek.com   maybe break even or make money each year.  offer to sell it to the first renter for just the maintenance

[bassman]

Name, location and time of year of your timeshare?

[thewoodman]

We had that problem 20+ years ago and a few letters from our attorney made the problem go away. We still got calls from telemarketers offering to help us loose the timeshare for a few years after, but things have been quiet for the last 5 years or so.

I would try the timeshare re sellers, but beware if they become a money pit as well.

Good luck.

[..]

Local radio guy suggests next time you go carry a sign stating you want to sell.

There's going to be someone visiting who wants it   

[RDAbull]

I had a client with 4 weeks at one of the largest companies, they liquidated through a reseller for about 10 cents on the dollar after fees.  But at least they were out  I don't understand why anybody would buy into these scams..

[Jess from VA]

The only positive story I ever heard of these things was some friends who got into a really cheap one (some small mountain cabin deal), and then they proceeded to swap it out for really nice places all over the place.  My wife and I piggie backed with them to a deluxe resort in St Marteen, a week in the islands and the nicest condo we ever had for like $120 for a whole week.

I don't think they ever actually used their own place.

[Dagwood]

I also heard timeshareexitteam has had success in getting people out of there timeshares but my guess is it depends on your contract and the amount you owe. I also heard that company charges up to 4K most up front and can take up to 2 years. TUG (timeshare users group) might be a good resource for additional information. Jess - Now you have 2 positive stories   . I owned my TS for almost 20 years 4 miles from Disney but we used ours almost every year. Kids had their graduations there, then honeymoons, now grandchildren. My resort offered a buyback a couple years ago so it cost me a couple of grand extra spread over the next 4 years but I am out from under it. But my resort was the exception.

[3fan4life]

If you just want out and you're willing to give up what you've put into it.

You can simply quit paying on it.

10 yrs ago I had a catastrophic drop in income.

The only account I had  that completely refused to work with me on payments was a timeshare that we had with Bluegreen.

I asked them what would happen if I just stopped making the payments?

They said,  nothing.

So, I just stopped making the payments.

Of course I lost the timeshare but nothing negative ever showed up on my credit report.

[Jess from VA]

I once attended a time share sales pitch with the wife (just to take a drive to the ocean).

San Clemente CA and a $40-60K buy in.  The lady with the five carrot ring and big hair asks us how we spent our last vacation and what it cost (the pitch).

Let's see, we drove down from March AFB to Camp Pendelton Marine Base, and got a Jr officer Q room for about $12 a night, and spent our days at the nice beach for free.  We ate one meal in the San Louis Rey O club that probably cost $25, and a tank of gas, so about $70.

She was pissed as this was not the answer she was looking for.

I never attended another.  

If you do ever attend one, use a false name and address, because they sell it to all the others, and you will be harassed for the rest of your life.

As far as the original question,  first you want to sit down and read every word in the contract. 

[Oss]

its like gambling   dont do it if you cant afford to lose it

Bonnie and I bought a time share on St Martin in 1986  It was 10k and we paid it off in 2 yrs to be free of debt. We have traded it to go 30 + places we might never have been both with the family and by ourselves    Maybe half of them ski weeks in Vermont or New Hampshire, some in Sedona and Florida and the balance for beach vacations with the kids on the shore from Myrtle Beach to DelMarVa to Cape Cod.  We were able to make great memories for the kids and ourselves and that is what matters to me....making great memories for my family  We cook breakfast and lunch in the unit and eat out for supper.  The laundry in units is great and all the units were 1st rate and locations just what we wanted.

Maybe 7 yrs ago we got another week at a place pre construction in Vegas  It came with 124000 pts (an insane amount thru RCI and 4 instant trade weeks all for the one maintenance about 700.)   That is enough points to get a 3br condo in Tahoe plus a week in Mexico plus a week in Boca and then some.  Trade fee was 150 per week. We have also used those points for 2 two bedroom condo units in cancun (several times) so we could take the kids and their significant others and also gave points to the kids for vacations in Mexico and wherever they want to go   We are using the points for our trip to Arizona in May and used them to go to Florida in November.  Last year we were in the Canadian Rockies.

If you plan out 11 -12 months ahead and have the time and flexibility its is a great deal.  If not, it can be a financial strain and headache  40K? not on your life. More than twice what we paid back then.Can probably find used for 10k or less in great location and great week

IMHO buy used, hot place, hot week  cost less more trading power

[Westernbiker]

I have one here in Scottsdale at the Orange Tree Golf Resort, all paid off, I would sell for $5000.00 My time is what they call Eagle time which is the best time. I used it when I was married, it was great, we traded and went all over the place. 

[Alpha Dog]

I once attended a time share sales pitch with the wife (just to take a drive to the ocean).

San Clemente CA and a $40-60K buy in.  The lady with the five carrot ring and big hair asks us how we spent our last vacation and what it cost (the pitch).

Let's see, we drove down from March AFB to Camp Pendelton Marine Base, and got a Jr officer Q room for about $12 a night, and spent our days at the nice beach for free.  We ate one meal in the San Louis Rey O club that probably cost $25, and a tank of gas, so about $70.

She was pissed as this was not the answer she was looking for.

I never attended another.  

If you do ever attend one, use a false name and address, because they sell it to all the others, and you will be harassed for the rest of your life.

As far as the original question,  first you want to sit down and read every word in the contract. 

I wonder if we ran into the same lady.  It was about 1986 and first wife and myself went to one in Idyllwild in the San Jacinto Mountains above Palm Springs, mostly she wanted to go their to escape the heat and get a prize.  Only thing I remember was a big haired lady with large carrot diamond ring putting on the huge sales pitch.  The wife's Mother was in real estate with a great firm in Century City and I told Ms Big Hair we had to run the contract by them.  She insulted me up and down and having to run to mommy for approval.  Well that went over well, needless to say.

Now for Malito 650.  Go to Clark Howard's website.  If there is a good answer for you Clark will have it.

[¿spoom]

Mentioned this to a friend who used to have one in Hollywood FL, she says;
If I remember correctly, I released it back to Wyndham  and they graciously picked up their own attorney costs and transfer fees. 


Long and short of it is...I gave Windham a timeshare I paid $10,000 for - for free so they can find someone to buy it for whatever the going rate is now.


All the maintenance fees, etc had to be paid in full before they would do it.

[bassman]

NO personal experience selling a timeshare....I have owned one since 1982.....M'be something in one of these links may be helpful...GOOD LUCK !!


https://www.wikihow.com/Get-Out-of-a-Timeshare

https://money.usnews.com/money/personal-finance/articles/2015/06/25/how-to-get-rid-of-your-unwanted-timeshare

https://timesharespecialists.com/landings/get-out-of-timeshare/?tcode=BG-0006#.WmeWLyOZP78

http://advocatefinancialservices.com/how-to-legally-get-out-of-timeshare-contract/

https://www.timesharescam.com/blog/79-getting-out-of-timeshare-contract/

https://www.finnlawgroup.com/?msclkid=c792a67d90561a375dfcfc1a06a1a98b&utm_source=bing&utm_medium=cpc&utm_campaign=Search&utm_term=getting%20out%20of%20a%20timeshare%20contract&utm_content=How%20To%20(Exact)

https://www.helpfortimeshareowner.org/?keyword=getting%20out%20of%20a%20timeshare%20contract&msclkid=39f008eae304143ea63b528d7427c130&utm_source=bing&utm_medium=cpc&utm_campaign=Keyword%20Breakdown&utm_term=getting%20out%20of%20a%20timeshare%20contract&utm_content=Get%20Out%20Of%20-%20High%20Target

https://timesharecancelservices.com