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Looking for attorney to get out of timeshare
- Thread starter Countum
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The sad truth is there is likely no way anyone can 'get you out' of a timeshare. The contracts are written in such a way as to not be fraudulent. The signor was given the right of rescission when they bought, and the TS is (at this time) likely worthless or at best worth very little. There are thousands of TSs on eBay today for sale. Most will not sell and those that do will go for a dollar or so. A quick search on ebay showed 24 Orange Lake TSs. Only 2 had any offers, the highest for under $130. The lowest for $5.
The first rule is pay no money up front to sell your TS. Give it away if need be. Hiring an attorney or paying some outfit is just chasing good money with more, without a chance of a successful outcome.
There are stickies that tell how to sell your TS. Others will chime in here, but the sad short story is that you might be better off learning how to use what you bought.
Best wishes, and Welcome to TUG!
Jim Ricks
The first rule is pay no money up front to sell your TS. Give it away if need be. Hiring an attorney or paying some outfit is just chasing good money with more, without a chance of a successful outcome.
There are stickies that tell how to sell your TS. Others will chime in here, but the sad short story is that you might be better off learning how to use what you bought.
Best wishes, and Welcome to TUG!
Jim Ricks
Last edited:
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If you paid in full for it, you might be able to get someone to take it for free under Bargain Deals, which is here in the Buying, Selling, Renting forum. If you still owe on it, you are stuck.
- Joined
- Jun 6, 2005
- Messages
- 32,048
- Reaction score
- 9,100
- Points
- 1,049
- Location
- The Centennial State
- Resorts Owned
- Wyndham Founder; Disney OKW & SSR; Marriott's Willow Ridge and Shadow Ridge,Grand Chateau; Val Chatelle; Hono Koa OF (3); SBR(LOTS), SDO a few; Grand Palms(selling); WKORV-OF ,Westin Desert Willow.
It would hurt your credit. A foreclosure for a timeshare is a real estate foreclosure, so it's pretty serious for your credit.
Timeshare is something you buy to enjoy. Most of us here paid full developer price once or twice.
So if you feel that you are alone, you sure aren't.
We overpaid for our timeshare 29 years ago, and we had immediate regrets, with very young children and a new mortgage, but we couldn't rescind back then because there were no rules in place to protect us.
It's too late for second thoughts, and I wish it wasn't too late for you. You need to enjoy what you bought and just pay it off, or you have to suffer the consequences of a bad credit rating for a long time.
No judgment here.
Timeshare is something you buy to enjoy. Most of us here paid full developer price once or twice.
So if you feel that you are alone, you sure aren't. We overpaid for our timeshare 29 years ago, and we had immediate regrets, with very young children and a new mortgage, but we couldn't rescind back then because there were no rules in place to protect us.
It's too late for second thoughts, and I wish it wasn't too late for you. You need to enjoy what you bought and just pay it off, or you have to suffer the consequences of a bad credit rating for a long time.
No judgment here.
T_R_Oglodyte
TUG Lifetime Member
If you also have an outstanding loan that you took out to buy the timeshare that could be a separate default - i.e., you could have a default to the Homeowners Association for failure to pay annual fees as well as a default to the creditor on the note use to purchase the timeshare. If that note is a personal note you could wind up with both real estate and personal defaults noted in your credit report.