So you paid off your timeshare property and think that’s it huh? Wrong. The first thing you need to know about timeshares is that they are never paid off and will always have yearly fees attached to them. Leslie and Vernon D. had no idea these fees would also drastically increase in cost each year.
Below is a firsthand account from the couple on their experiences with a timeshare and what led them to terminate their agreement with their resort. Names have been changed or omitted due to privacy concerns.
“We originally were happy with our timeshare purchase, but the increase in our maintenance fees caught us by surprise. We were aware of the fees beforehand but were under the impression that they would rarely increase, if ever. At least that is what the salespeople told us.”
Timeshare salespeople are constantly underselling the impact and true cost of maintenance fees. So often they leave out the most important fact, which is these fees will absolutely increase every year. But why do they end up costing so much?
“Despite being owners through a recession, a hurricane, and now a pandemic, they always had to collect their maintenance fees. I was threatened with being placed into collections several times over late payments. Even when the resort was closed for most of the year after the hurricane, they still required us to pay these fees. To make matters worse, we never saw where the money went because the furniture and appliances of our unit were never replaced. ”
This couple’s maintenance fees were increasing drastically, yet they were not seeing any changes or enhancements to their timeshare. Instead, they saw the property deteriorate over time and lose value.
“After paying off the fees every year, we didn’t have enough money left to actually go on a vacation. That’s how expensive they had gotten. What we spent on maintenance fees in our last few years, would have been enough to take our family on multiple vacations per year. But with all of our extra money going towards the timeshare, our family just didn’t have the funds for anything else.”
When Leslie and Vernon approached us about our termination services, they had been timeshare owners for 16 years but had not been able to visit it in the last 10 years. Every year after that they were paying for something they were never getting to use. We were as upset at this as the couple was.
Working closely with them, we were able to fully terminate their timeshare agreement and have them freed from paying any more maintenance fees going forward.* Now they can enjoy vacations with their family again, without the financial hassles of a timeshare holding them back.
If you know anyone in a similar experience, please feel free to pass our phone number along to them. We’d love to see if they qualify for our timeshare termination services.
*Wesley Financial Group, LLC (“WFG”) develops individualized programs for each client, terminates over 97% of their client’s timeshare relationships, and, in certain circumstances, obtains a refund of some or all of the timeshare purchase price. Actual results depend on each client’s distinct case and no specific outcome is guaranteed (although WFG does offer a 100% money-back guarantee if the timeshare is not canceled within the time specified in the WFG Enrollment Agreement).
Wesley Financial Group, LLC, and/or its affiliates, successors, or assigns are not lawyers and/or a law firm and do not engage in the practice of law or provide legal advice or legal representation. All information, software, services, and comments provided on this site are for informational and self-help purposes only and are not intended to be a substitute for professional advice, legal or otherwise.