Owning a timeshare can be like a dream come true, but that feeling is short-lived for some. Many owners even go as far as referring to their experience as a nightmare. As such a perspective expanded throughout the timeshare industry, a solution materializing was inevitable. That solution is timeshare exit companies.
If you're interested in learning more about timeshare exit companies, you've come to the right place. Consider this article a guide on the timeshare exit process. Here, you will find answers to some of the most common questions and get insight into finding the right exit company.
Timeshare exit companies do what their title implies. They help aggrieved owners exit their timeshare agreements. A timeshare exit team works with you one-on-one until achieving the goal of terminating your timeshare agreement. They know what to say, when to say it, and who to say it to so your timeshare ownership comes to an end.
If you own a timeshare and have exhausted all other options, it may be worth looking into an exit company. They provide a valued service to owners.
Timeshare exit companies service owners who experience deceit or misrepresentations leading to their purchase. That may seem like a niche market but it is not. Timeshare sellers are notorious for using high-pressure sales tactics to improve their bottom line. To determine if you are eligible, most timeshare exit companies hold a free consultation at the beginning to learn about your situation.
Considering how expensive it is to own a timeshare, many worry about how much it is to cancel. And it’s not a one-size-fits-all answer. The price is anywhere between $1,000 and $5,000. Costs will vary based on your circumstance and the exit company you choose. If that seems pricey, consider the savings compared to continuing the ownership. Use a maintenance fee calculator to see how much you could save for years to come.
The time it takes to cancel depends on several factors. Such as how much paperwork you have, how responsive the timeshare developer is, and your payment status. Results tend to come within 8-18 months. However, some can take a few months, while others can go on for a few years. Suffice to say, each timeshare is different and requires a customized approach for cancellation.
When owners no longer want to keep their timeshare, they have two options– timeshare exit companies or resale companies. While similar in that regard, they could not be further apart in the service or results.
An exit company’s sole purpose is to terminate your commitment with the timeshare resort. Resale companies, on the other hand, go about it differently. Rather than cancel your agreement with the resort, resellers advertise it. The concept of selling may sound more tempting, but seldom does it go as expected.
It can be challenging to succeed in the resale market due to how little value timeshare properties hold. Even if you do "sell" your timeshare, chances are it won’t return a profit. Your payoff may simply be not having to pay the timeshare company anymore. Sure, reselling can help get rid of your timeshare, but with a lower success rate and a higher risk of scams, your money is better spent elsewhere.
It’s understandable to be hesitant to take another risk with your timeshare. If you do, choose a reputable timeshare exit company. How do you know who to trust? Follow these suggestions:
Be aware of possible scams. Since timeshare exiting is a fairly new concept, few regulations are in place to prevent fraudulent acts in the industry. Albeit, it's easy to spot a scam. Unsolicited calls are the first red flag. Another is asking for upfront fees to solicit a timeshare sale or transfer. Give money to these "companies", and they'll likely swindle you.
The best way to find a reliable exit company is by doing your research. Good places to start are Google Reviews, Best Company, and Trustpilot. Comb through as many reviews and testimonials from companies that interest you. The more positive reviews, the more sure you're dealing with a legitimate company that can help get you out of the timeshare.
As vacation ownership consultants, expertise is critical. So for the best results, choose an exit company with an established cancellation process and proven to get results—the more experienced, the better. Don't risk paying one of these short-term companies open today and gone tomorrow.
Timeshare cancellation is not always certain. It’s best to have an escrow or money-back guarantee when that’s the case. If a company isn’t willing to give you your money back when they can’t or don’t deliver what they promise, how are they different from the timeshare companies? That’s why it’s essential to choose a company that operates on a solid foundation of morals and ethics.
For years, those misled into timeshare ownership have had few options to reverse it. Fortunately, timeshare exit companies give more opportunities to those looking for a way out. Choosing the right timeshare exit company can go a long way in helping you cancel your timeshare agreement.
Struggling to find a company you can get behind? Here's one that's considered one of the best timeshare exit companies: Wesley Financial Group, LLC (WFG). Founded more than ten years ago by a pioneer of the cancellation industry, Chuck McDowell, it has since helped more than 16,000 people reach timeshare freedom. They surpass all the trustworthy standards set forth above.
Those ready to take the next step to cancel their timeshare or to learn more about their renowned exit service can contact WFG here.
*Wesley Financial Group, LLC, and its affiliates, successors, or assigns are not lawyers 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 not intended to substitute for professional advice, legal or otherwise.