topic Re: Timeshare Exit Help in Community Chat

Timeshare Exit Help

beach-mom — Tue, 26 Feb 2019 06:00:53 GMT

We want to get rid of our timeshare. There is no mortgage on it, but of course there are maintenance fees. Ours is one that can be used around the world owned by a major timeshare company. The past few years every time I've called, I couldn't get in. We couldn't change locations, so we just gave up. Then we went to a dinner. The "counselor" we had curtly told us the reason we couldn't get in was because we were asking for a unit we didn't qualify for - but no one EVER told us that! For a monthly fee, we could qualify for their top level, and of course she recommended that. We ALMOST went for it, but left without signing one of the papers. Of course they contacted us, but after reading the paperwork over we were done. We were glad we had missed the one paper.

Then there is the fact that if anything happens to us our children would be responsible for the maintenance fees.

The company will not buy it back from us, and I understand most organizations will not accept a donation of one.

I'm skeptical about some of these companies that say they will get us out of it. A co-worker had a horrible experience with one that took him years to get out of and he finally had to hire a lawyer himself. They do contact us all of the time. I ignore them.

We kind of resigned ourselves to the fact that we are out all of the money we've put into it, including paying the mortage in full. We were young, it sounded great, and we didn't investigate it enough.

Our friends have one they're really happy with, but it's a private lodge that they go to every year (there is only one location). They get the same unit, and have made lots of friends there. I can see how that would work.

I would really appreciate any advice you can give me? Are there any organizations that really do help? Or should we just hire a real estate attorney? TIA!

Re: Timeshare Exit Help

Cats3000 — Tue, 26 Feb 2019 11:09:27 GMT

There are companies that claim they can get you out of a timeshare. You see them advertised on TV. Be very, very careful before you sign anythig with them. You probably could call or go on line to the Consumer Protection Office where you live (NOT the BBB) and see if there's a complaint history.

You may have to contact a real estate attorney and see if he/she can help. Unfortunately, timeshare contracts are ususally written in iron-clad language that leaves few if any options for the owner. You probably are out of whatever money you put into it. If you can get out with losing just that amount, you'll be lucky.

Re: Timeshare Exit Help

Bri369 — Tue, 26 Feb 2019 11:29:07 GMT

I would look for a reputable attorney that specializes in cancelling timeshares.

I don't think you'll be able to recoup your money though.

Good luck!

Re: Timeshare Exit Help

drizzellla — Tue, 26 Feb 2019 12:56:42 GMT

As the other ladies mentioned it seems like using a lawyer would be the best way to approach exiting.

I also own a timeshare. But we are very happy with it. So I am not much help. In fact the other day I planned our vacation for this year.

We have a friend who owned a timeshare. They were trying to get out of it and hired a company. Last I heard, they had not been sucessful.

If you don't mind - I don't understand some things. You said you couldn't change locations. So unless you "up your timeshare" you can only stay at one place? And that place is booked, so you can't get in. Is there a timeframe that you can start booking at that resort?

Since they never told your about qualifing for a unit. Is there some way you can prove that? I am back to - I think talking to a lawyer would be most helpful. My timeshare ends in 2041(or sometihing like that) does your timeshare end?

PS - On Facebook there are several different pages for the timeshare where I own. They are not "run" by the Company that owns the timeshare. So you can go to these pages with any questions or concerns. Maybe find a group of people who own where you own either on Facebook or on line and chat with them. Hopefully someone was sucessful with dealing with the company.

Re: Timeshare Exit Help

shaggygirl — Tue, 26 Feb 2019 12:51:05 GMT

redweek.com has a good article on the best ways to rid yourself of an unwanted timeshare.

Re: Timeshare Exit Help

Rockycoast — Tue, 26 Feb 2019 14:11:41 GMT

If the resort you own at itself does not have a resale department then go to a RE lawyer. That would be your best bet. We own in 3 timeshare resorts. And I say own. We have the deeds to all 3. We purchased our first one in 1981. We love them. They have saved our family so much money and we have traveled all around the world when we did exchanges. From reading your post it seems as though you purchaced in a low level time frame. You would only be able to exchange in that same low level time frame. Nothing higher. Makes sence to me. I would not go with those "as seen on TV" timeshare sellers. They would most likely take a large cut of your sale price. Go with a lawyer instead as has been suggested in previous posts.

Re: Timeshare Exit Help

ginirn — Tue, 26 Feb 2019 17:26:08 GMT

As others have said be careful. My BIL owns 2 with a major company. His wife was terminally ill and he received a phone call supposedly from that company offerring to buy one back. I told him NOT to send any money but he did believing it was legit. He was out over $4000 as they said they needed money for transfer fees. I do think the company was involved in the scam. He filed a complaint with the Feds but nothing came of it. I had told him why would they pay thousands for this when there are so many going for next to nothing as the people just want to get out.

another BIL owns one as well and has "upgraded" several times to over $100,000. He is now a "VIP". What a laugh whenever he calls he can never get where he wants to go. He drank the Koolaid and then some. He could have taken a couple really nice first class vacations every year and spent less. His kids dont want it either as they have jobs and kids and no time. Not to mention the maintence fees.

Re: Timeshare Exit Help

Lipstickdiva — Tue, 26 Feb 2019 17:51:01 GMT

I don't know what to say except good luck. I work for a law firm and we handle estates. We have had several estates where the decedent had a timeshare and it's a nightmare to deal with. 99% of the time we end up filing a motion with the Court to abandon the asset, we file a rejection of a claim for any fees, we send a copy of the Court entry to whoever we need to at the timeshare company and that's it. We have no idea what happens to that unit from there but the estate and family are done with it.

Re: Timeshare Exit Help

SeaMaiden — Tue, 26 Feb 2019 17:55:26 GMT

@beach-mom can I ask you how you came to purchase this? Did you go to one of those get togethers where they offer you a free gift? I heard that they drill you to death and you get to a point where you give in like a zombi and sign up for the dreaded time share.

I have heard so many horror stories about time shares that I never fell for it.

Re: Timeshare Exit Help

magicmoodz — Tue, 26 Feb 2019 19:56:43 GMT

This thread reminds me of a conversation we were having with a dear friend and former neighbor. We watched two of his children grow up and he told us they are now very successful young men living on opposite coasts--one selling timeshares and the other helping people unload them. We then said "so basically they are both crooks!"

Re: Timeshare Exit Help

Dawnie — Tue, 26 Feb 2019 23:22:39 GMT

I sold mine on Redweek.com-for a loss. Was happy to get rid of it!

Re: Timeshare Exit Help

beach-mom — Wed, 27 Feb 2019 04:32:14 GMT

Thank you for your help everyone!

@SeaMaiden - It was 20 years ago. They set up at our mall and had a "model" unit. Of course they made it seem like Shangri-La! We didn't get a free gift, but we got a "discount" for signing up immediately. The woman who took us through reminded me of my grandmother. So of course we caved.

The company promised units all around the US, which is what sold us. They showed us a map of locations they were developing, which turned out not to be true. The original company was bought out by a second, and then a third. They have a lot of locations now, but it just hasn't worked out at all for us. It does for some.

@drizzellla - Every time we called a location we were told there was nothing available when we wanted to go. Like most people our vacation time is limited. I just assumed it was because they were booked. I tried to get three weeks in July at two different locations, and there was nothing. And I called 8 months ahead. We found out last fall (when we almost succumbed to upgrading to the next level) that it was because we did not qualify. As our "personal adviser" (or whatever she was) told us at that dinner, we didn't qualify for that level. We were shocked. We had paid off the mortgage and had no idea we would have to upgrade again! Why didn't someone tell us when we tried to make the reservation?

We just want out. You all have given us good advice, and I thank you for that. I don't want my children to have to worry about this in the future.

Re: Timeshare Exit Help

haddon9 — Wed, 27 Feb 2019 04:58:22 GMT

@SeaMaiden wrote:
@beach-mom can I ask you how you came to purchase this? Did you go to one of those get togethers where they offer you a free gift? I heard that they drill you to death and you get to a point where you give in like a zombi and sign up for the dreaded time share.

I have heard so many horror stories about time shares that I never fell for it.

This almost happened to us several years ago. Back when my DH was still working he spent a lot of time one winter in Phoenix. We decided to make a mini vacation out of his time there and we went to Sedona. While there someone approached us to come to a time share presentation and we would get a $100.00 Visa card just for stopping in. We knew that it would be more than just stopping in but we went anyway.

The place was really nice. We were in a very large conference room with what seemed like 50 other couples. Each couple sat at a table for three and had a salesperson giving them a presentation and hard sell. My DH who would NEVER fall for this sort of thing was almost ready to give a deposit...that's how good they were! I could feel us starting to become zombie like!

I was getting tired after an hour or so and I just looked at DH and signaled to him that I was done. I told our salesperson thank you I'm ready to go now and would like my gift card. I stood up and he brought us into another room to give us the gift card.

I do wonder if we would have enjoyed or regretted purchasing if we had gone through with it....they just seem so hard to get rid of when you're done.

Re: Timeshare Exit Help

kivah — Wed, 27 Feb 2019 22:03:21 GMT

I'm OLD - so I've been aware of the TimeShare TRAP for many years!!!!!! You could travel all over the world and get low-price hotel rooms - and u could travel any day of the year that's convenient for u. To me, this TimeShare gimmick should be illegal. Sorry that u got into a bad situation -- there has to be a way out!!!!

Re: Timeshare Exit Help

GenXmuse — Thu, 28 Feb 2019 02:01:37 GMT

I’ve always thought timeshares were a shady business. I’ve never met anyone who didn’t end up regretting it.

Re: Timeshare Exit Help

Brisky — Thu, 28 Feb 2019 02:31:08 GMT

I would claim dementia and a attorney would could call the contract null and void. Try salesman was not forthcoming with all the information and he scammed you. This is just what comes to mind. I know it won't help at all. Hoping you find a resolution and attorney who can help 😔 hang in there. Surely there is a way out.

Re: Timeshare Exit Help

Financialgrl — Thu, 28 Feb 2019 20:17:42 GMT

I went to one of those spiels at the beach a couple decades ago - I didn't want to go but friends did. When we walked out I told my friends - "I tried to tell ya - bc that was an hour of my life I'll never get back". When they approach me on the beach I politely decline and if they continue the hard push I let them have it.

Re: Timeshare Exit Help

lulu1 — Thu, 28 Feb 2019 20:53:43 GMT

When we married, we had NO money. Thanks to my husband's Godfather and my father, we had our honeymoon in San Juan. Back then we did not have a credit card and we had a small daily eating budget. We saw an advertisement for a free dinner at a luxurious hotel, so signed up for it.

Neither of us had ever heard of timeshares. (it was 1971) There was a presentation, then the hardsell. We made it very clear to our "agent" that it would be years before we'd have any extra money to invest in a timeshare. That did not matter. It was his job to sell us something. (after all we were getting a free meal) I ended up in tears, ran out with my husband following after me.

We had to walk back to our hotel because we could not afford a taxi. We never got our free meal.

To this day, whenever I hear or see the word TIMESHARE, I cringe.

Re: Timeshare Exit Help

froggy — Thu, 28 Feb 2019 20:53:58 GMT

Why would your children be stuck with the expenses? Are they on the timeshare contract? Children are not responsible for their parents' debt.

Re: Timeshare Exit Help

viva923 — Thu, 28 Feb 2019 21:15:52 GMT

many years ago when we lived in Hawaii (military move--we were super duper young) we were down in Honolulu just walking seeing the sights, we got roped into that come share dinner on us and drink. then the hard sell came out at the end of the evening. it was time share. We didn't have 2 pennies to rub together,we were dirt poor, i think they knew it, but they tried to sell us into that time share stuff. So glad we walked out when we saw the prices and all the legal nightmare it would be, something just made us bolt. so glad we bolted.

lately on the radio (I listen for several hours a day) I hear about time shares and all the ramifications of what happens when you sign and they will try to help you get out of the time share but no guarntee to get out with this company.

these companies must be wolves in sheep clothing once you are in, almost a cult takes over and you can't break the chain no matter what. the fact that when you pass the family inherits this mess and must continue to pay even if they had nothing to do or say if they want it or not.

this is scary to say the least.