Frequently Asked Questions
We take advantage of a little known loophole with the timeshare collection process that gives you the edge. You can stop any further payments and walk away immediately. We know that if a collection dispute is the horizon we can file certain paperwork to make sure the integrity of your credit and financial position is intact, regardless of the other sides allegations.
Why not hire your own attorney?
Most lawyers who are paid a flat fee from the exit companies send demand letters alleging fraud and misrepresentations about the sale process, including that the weeks and units you bought are not available, and demand the timeshare take back the property. This may have worked with a few cases at first, but as soon as the timeshare companies figured out that the lawyer was most likely working in conjunction with an exit company (they would see the lawfirm name over and over again on demand letters) they would flat out refuse to deal with the lawyer any further, unless they had the demand to put your unit back in inventory and resell it.
Why would your timeshare refuse to deal with an attorney?
Because they know from experience that the lawyer’s demand letters are nothing more than baseless threats. They know that if a lawyer is working in conjunction with an exit company they are most likely working for a flat fee and will not have the funding to file suit. They know that the odds of a timeshare owner paying a lawyer by the hour ($300 an hour or more) to simply be released from their timeshare are slim to none and a lawyer cannot afford to file suit and litigate that type of case against a big corporation on a flat fee basis. If they did, they would go out of business almost immediately.
Westgate Resorts, Ltd. v. Sussman is a recent case out of Florida that goes into detail about how a lawyer who was trying to get his clients out of their timeshare by deeding the property to his staff (can you say UNETHICAL) and then telling the clients they were free of their timeshare obligations when they, in fact, were not. Most attorneys will not jeopardize their law license by engaging in such activity, but it does go to show the lengths some exit firms will take to scam their customers. Read the case here . The opinion is long, but in the first few pages the judge does a good job summarizing the industries and how the customer (you) are stuck in the middle of it all.
Beware the money back guarantee.
Money back guarantees are only as good as the company making them, and unfortunately, with the exit industry, many of their guarantees are not worth the paper they are written on. This is because your fee is their only revenue and they have expenses to pay like any other company. The bigger companies have a huge advertising budget and they all have basic expenses that come out of your fee, like rent, insurance, staff and other administrative expenses.
Even the bigger companies get in trouble when they can’t refund their customers. Below is an article about exit companies not being able to refund their customers and filing bankruptcy. Do you think you would have gotten a refund with this company…NOT A CHANCE!
Timeshare companies will most likely not let you out if you have an exit company.
At the end of the day, timeshare companies refuse to work with any customer who they know is working in conjunction with an exit company, including a lawyer who was referred to a customer by an exit company. These two industries are at war with each other and the bigger pockets of the timeshare corporations have much, much more resources to sue the exit companies out of business than the exit companies will ever have to defend these suits.
Below are some of the conditions Diamond and Holiday Inn have to apply for their internal program to take back properties:
• Diamond Resorts International
You must have no existing loan balance or other lien encumbering the vacation ownership.
• You must be current on the payment of all maintenance fees up to the year for which you are relinquishing.
• You must have a clear and free title to the vacation ownership.
• All future reservations must be cancelled or traveled on prior to submitting a request.
• Your vacation ownership must be in a Diamond Resorts Collection or managed property. Currently, members who own in Embarc or the EU Collection do not qualify.
• Participation with a timeshare exit or resale company or firm may negatively impact your ability to apply for Transitions.
• Holiday Inn Club/Orange Lake
“We do not endorse or work with any other person or company promising to help you get out of your timeshare product.”
If you want to try and use your timeshares internal program to take back your timeshare, BEWARE that many use this program to upsell you on more points:
THIS ADVERTISING MATERIAL IS BEING USED FOR THE PURPOSE OF SOLICITING SALES OF TIMESHARE INTERESTS.
How is this different from other exit companies?
You will not have to worry about making any further payments on your timeshare the day you employ our program. For almost any type of agreement to take place where the timeshare will take back a unit it requires all fees, taxes and other payments to be current and possibly future payments be current for them to consider putting your property back in inventory. Our program is different. The last payment you made to your timeshare company will be your last payment you make to your timeshare company. (Call Out)
While all exit companies approach the timeshare company from the front end and try to unload your timeshare through various 3rd party channels (resellers and listing brokers) or employ the services of an attorney, we actually force the timeshare company to take action and address your unit almost immediately. All exit companies must wait for the timeshare company to have a need to take back your unit (there needs to be demand for your unit and not enough supply in their inventory) to resell. Our program puts you at the front of the line.
Why use you over other timeshare exit firms?
You will not have to pay another dime for your timeshare ever again. Our method will force the timeshare company to address your needs first. It is completely legal and ethical. The timeline for you to be done with the timeshare company forever is much quicker than dealing with an exit company, who, as of late are extending their guarantee periods up to 36 months.
Timeshares are a weird animal.
Trying to get rid of your timeshare is a very strange concept when you boil it down to the core concept. Here you have someone, who a while ago or maybe not so long ago, sat through a high pressure sales presentation and decided it was a good idea to buy “something” but a lot of times they don’t know exactly what they bought. Is it actually real estate or some sort of membership? Now you don’t want to have the “something” anymore. Under normal circumstances with any big purchase there is a market to unload it, i.e. real estate or a vehicle, but here you are with this “something” and you can’t even give it away. Now you are looking to pay someone to help you get rid of it. There are few “somethings” in the world to buy where you pay someone to take it off your hands besides junk. Well maybe that is saying “something.”
What is keeping you from abandoning the property and throwing the keys back to the timeshare company? This is the question we would ask all of our clients and we would always get the same three answers.
1. Many people seem concerned that their heirs will be stuck with the payments. This is a legal urban legend that the timeshare industry and the exit industry both continue to spread even though it is completely untrue. It is basic contract law that a person cannot be responsible for someone else’s debts unless they agree to accept that responsibility in writing. [Google search: statute of frauds]. It is the same concept as co-signing for a car loan for someone else. The only way the timeshare company can hold any heirs responsible for your payments is if they agree in writing to accept ownership. Even if you will the property to your children they do not have to accept it.
2. Another issue that is discussed with our clients is getting sued by the timeshare company. Many threaten lawsuits if their account is not current. Can a timeshare company sue their customers?…yes, (anyone can sue anybody, for anything) but it is not likely. Why? Because they are not in the business of suing their customers and it does not make for good press whatsoever. It is also extremely expensive to sue all of their customers who default on their payments. The obligations go on, arguably forever, so it is hard to put a dollar amount on future damages, but more importantly, the timeshares treat defaults as a cost of doing business. Every timeshare knows what their acceptable default rate will be and everyone of them accepts the fact a certain percentage of their properties will have to be absorbed back into their inventory and resold. It is a part of their business model.
3. However, the number one concern for most of our clients is their credit. They have most likely been threatened by the timeshare company that if they don’t make their payments the timeshare companies threaten that they will send their file to their collection department and ruin their credit. It is a very cheap method that scares people into continue making their payments. It is cheap because it is either an internal collection department within the timeshare company itself or if it is an outside collection agency that is paid a percentage of what they collect so there is no fee the timeshare company has to pay upfront.
It’s not your fault you are in this position.
All of these timeshare companies are the same. If you liked your timeshare for some time but now need out, it is the timeshares fault for selling you a product you can’t get rid off. It is their fault for selling you a product that you have to pay for, forever. It’s their fault for changing the rules of when you can use your property. Its their fault for increasing your yearly fees every year. Its their fault for selling you “something” and financing it for 15% when rates are in the 2’s.
If you have called your timeshare and tried to explain to them you are no longer able to use the property, you can no longer afford to keep making payments, you cannot get the unit for the dates your were promised or you were lied to when you bought the property and they refuse to offer any relief, ITS NOT YOUR FAULT.