Community Chat

[Starpolisher]

Does anyone have any experience with getting rid of a Timeshare? We have a one bedroom timeshare in Atlantic City. We no longer use it and don't want to keep paying the maintenance fees. It's paid for and has weeks, as well as, points. It's Red time. Our week is the 3rd one in August but can be changed, it's for evry other year. I don't care if we have to take a loss on it. Just want to get rid of it! Can't even give the thing away! Our company has no recoup program. Worst thing we ever bought! Pleas help!!!!!

[Meowingkitty]

I know you can donate it and there are companies for a fee that claim to buy it back from you. Dave Ramsey endorses one. I think it's called Time Share Exit Team. 

[Keeper of the koi]

I know how frustrating  timeshares are firsthand.We had 2, We ended up donating them to the make a wish foundation that was a long time ago, dont know if they still accept  them . . Maybe see if a friend would like to use them and pay the fee?Maryanne

[Starpolisher]

@Keeper of the koi @Meowingkitty

Thank you so much for your responses. At least now I know their is hope for getting rid of it!

[Starpolisher]

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@Keeper of the koi wrote:

I know how frustrating  timeshares are firsthand.We had 2, We ended up donating them to the make a wish foundation that was a long time ago, dont know if they still accept  them . . Maybe see if a friend would like to use them and pay the fee?Maryanne

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@Keeper of the koi

Thank you for your suggestion! I have contacted them and now have to wait for a response. If they do take them what else will I have to do?  Will I need a lawyer? I would really appreciate any advice you can provide. Thanks so much!

Starr

[Keeper of the koi]

@Starpolisher, if i remember correctly, you will need a  lawyer to draw up a deed of transfer,  Than file a copy of the transfer  to the timeshare  company . you  should contact the timeshare company and find out their policy on transfer.I believe the make a wish often auctions off these timeshares and puts the money into  the granting of  wishes. I like to think that because of our donation a child is experiencing an amazing gift!win win..You are very kind to consider this , you  have a great attitudeMaryanne

[henderson]

Can you rent your week out?  The timeshare company should be able to do this.  I'm a timeshare mystery shopper (can't tell you what company I work for) and I'm not allowed to purchase a timeshare while doing a job.  Not that I would.  It's not an investment and your monthly maintenance fees can go up anytime especially as the property you purchased in gets older and needs maintainence.  Also at the timeshare presentations, I was offered to purchase a resale timeshare for so much less.  When you die, your timeshare is passed down to your heirs and they are stuck with it.  I think some posters are giving you some good ideas. 

[Starpolisher]

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@Meowingkitty wrote:

I know you can donate it and there are companies for a fee that claim to buy it back from you. Dave Ramsey endorses one. I think it's called Time Share Exit Team. 

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@Meowingkitty

Thank you so much for this information. I have an appointment with them on Monday. Hope it pans out!

[esmeraldagooch]

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@Starpolisher wrote:

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@Meowingkitty wrote:

I know you can donate it and there are companies for a fee that claim to buy it back from you. Dave Ramsey endorses one. I think it's called Time Share Exit Team. 

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@Meowingkitty

Thank you so much for this information. I have an appointment with them on Monday. Hope it pans out!

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Dave Ramsey says they are great.  Good luck.

[Starpolisher]

There's a company called National Cancellation and Transfer out of MO. They charge $1495.00 total fee to do a transfer/liquidation. They have a 100% money back guarantee for their fee. I couldn't fine any consumer reviews for them but they have a A+ BBB rating. I'm going to contact the attorney generals in MO and NJ and see if they have any information on them. They are cheaper than Timeshare Exit Team. Does anyone know anything about them?

I'm also contacting my timeshare management to see if they will take it back and following two timeshares like mine, one on Ebay and one on TUG  just to see what happens with them. I told my sons, should we die, Refuse to accept the Timeshare!  What a costly pain in the rear!!!...lol!