How much control does a timeshare exit company have in 2021?
By: Adam Burns – TKO Timeshare Solutions
This is one of the most important factors that everyone needs to understand with the timeshare exit industry. Whether or not a timeshare decides they’ll take back your property or not is or a third party takes it off the owner’s hands is not controlled by the exit company.
As far as the timeshare is concerned, you are contractually bound for the rest of your life to continue making payments until you die and maybe even beyond. It’s strictly business for them and if they cannot make any money on the transaction, they will bluntly tell you no.
A timeshare exit company may tell you they will hire a lawyer to take care of the problem, except they never tell you upfront that this lawyer will probably not file suit. If the lawyer will not file suit
their demands are basically threats without any teeth.
You have the right to discontinue payments (as with any debt) but it has consequences. This will
cause the timeshare to take some action since you are no longer a source of reliable cash flow.
Some people are in a position that they don’t have a choice because of economic turmoil or
health issues. It’s a very sad situation when people are forced to choose between making
payments toward a vacation they may never use or getting their prescriptions refilled. But
that’s what it’s come to.
This problem rests squarely on the shoulders of timeshare companies. To expect someone
to pay for a product with zero resale value for the rest of their life is absolutely insane. They
need to come up with a solution to this problem besides ruining a family’s credit and
threatening to sue them. We believe they know the days of their old model are numbered.
They have started welcoming customers into programs to eventually take back their property,
but change is slow. See Diamond’s Transition Program.
Regardless of what option you choose, it’s important to weigh the pros and cons of every
solution and how it will affect your particular situation. Most of the options can be done on
your own with time and research. Timeshare Exit companies do shorten the learning process of what
option works for you but as with any large transaction, do your due diligence.
Let’s start the journey together of getting you out of your timeshare, legally, quickly, and permanently. Schedule a no-cost consultation today!