How to RESPONSIBLY and legally Sell my timeshare?

[schreib69]

I have been scammed. I have tried to sell with a real estate / timeshare sales operation.
I have stopped paying maint. fees and had the timeshare company ding my Credit rating, and paid off, and now, again paying the damn fees.
I have contacted Wesley Financial group only to find they want over $5K to help me "EXIT".
I have searched and found really nothing new which I have not already tried or researched.
My timeshare is a minor one, not well known, in Minnesota, over $800/mo maint. fees.
They will not take my timeshare back, even for zero cost.
I have tried to sell it sporadically for $1 on this site and other places. NADA.
SO.
Don't bother telling me the standard stuff. I am mostly aware. Please tell me something new.

FOR example: Have YOU or do you know SOMEONE who has actually AND SUCCESSFULLY exited a timeshare?
If so, WHY can't I do the process myself?
Can you tell me, and others, the process you went through to actually exit?
WHO did you go through?

 

[ScoopKona]

1) First, you have to make peace with the fact that what you own isn't worth anywhere near what you paid for it.
2) Next, you have to post PRECISELY what you own. People will give you their honest opinion on whether it can be sold, or even given away. Some timeshares aren't worth taking, even if they are free.
3) If you find yourself "stuck" with the timeshare, you may have to do your homework and find some way of making it work -- so you at least get some vacations for all this money you are spending.

 

[TUGBrian]

there is nothing new to learn here.

every single owner has the same 3 options. The resort you own dictates which of these 3 is more or less likely to be successful than the others.

convince the resort to take it back
convince someone to take it off your hands
stop paying for it (at which point eventually, the resort will take it back via foreclosure)


every exit solution that exists, scam or otherwise is simply a dressed up flavor of one of these 3.

 

[amycurl]

I don't understand this line:
"I have stopped paying maint. fees and had the timeshare company ding my Credit rating, and paid off, and now, again paying the damn fees."

If you just stop paying the MF, all they can do is foreclose. Yes, you might take another hit to the credit rating, but not much. Not sure why you stopped paying and then started paying again.

 

[TUGBrian]

agreed, if you already took the credit hit....letting them foreclose would have resulted in your ownership being over.

 

[schreib69]

I don't understand this line:
"I have stopped paying maint. fees and had the timeshare company ding my Credit rating, and paid off, and now, again paying the damn fees."

If you just stop paying the MF, all they can do is foreclose. Yes, you might take another hit to the credit rating, but not much. Not sure why you stopped paying and then started paying again.

I stopped paying because my wife got the yips after seeing the credit garbage and started paying again. I was not happy. Now, we would have to start that all over again. aarggh.

 

[schreib69]

I don't understand this line:
"I have stopped paying maint. fees and had the timeshare company ding my Credit rating, and paid off, and now, again paying the damn fees."

If you just stop paying the MF, all they can do is foreclose. Yes, you might take another hit to the credit rating, but not much. Not sure why you stopped paying and then started paying again.

Also, question for you:
Have you, or do YOU know anyone personnally, who HAS stopped paying and gone through the fire of credit de-rating and SUCCESSFULLY gone through disclosure process and gotten rid of the timeshare.
If so, THIS is what people should be counselling others to do being it is a reliable method, right?

to others(!) reading this: How about you? Can we see a show of hands from folks who can attest to this being a reasonable, albeit somewhat stressful, way of exiting on your own when all else fails?!

 

[amycurl]

While I haven't done this--I love my tiger trader independent timeshare!--many have posted here who have. There is a whole thread that was tracking this, based on other users' experiences. It showed what the consequences were to "walking away," based on the system and whether or not it included walking away from a loan vs. just the MF. Others who are better at searching this site might be able to find it. Did @Grammarhero start it? I really can't remember, but I do know that thread exists.

 

[sue1947]

Also, question for you:
Have you, or do YOU know anyone personnally, who HAS stopped paying and gone through the fire of credit de-rating and SUCCESSFULLY gone through disclosure process and gotten rid of the timeshare.
If so, THIS is what people should be counselling others to do being it is a reliable method, right?

to others(!) reading this: How about you? Can we see a show of hands from folks who can attest to this being a reasonable, albeit somewhat stressful, way of exiting on your own when all else fails?!

Before going this route, have you tried giving it away? I know nothing about your timeshare, so have no idea if it is worth anything. However, if you were willing to take the credit hit, and willing to pay the scammers fees, why not try to just give it away yourself? Here is the tug 'how to' info on getting rid of your timeshare: Get rid of your timeshare.
Post what you have in an ad in the Bargain forum. Make it sound great; post some pictures; you bought it for a reason. You may no longer want it, but somebody else may be looking for what you have, especially if it's the only timeshare in the area. Give it a try; what do you have to lose?

 

[ScoopKona]

I stopped paying because my wife got the yips after seeing the credit garbage and started paying again. I was not happy. Now, we would have to start that all over again. aarggh.

Yes, that's right.

Again -- what do you own? It's a lot easier to dole out advice if we know what you have. There are loads of very happy timeshare owners. Not ALL of them suck. Maybe you have something someone would like. Then you can just give it away and be out.

 

[theo]

While I haven't done this--I love my tiger trader independent timeshare!--many have posted here who have. There is a whole thread that was tracking this, based on other users' experiences. It showed what the consequences were to "walking away," based on the system and whether or not it included walking away from a loan vs. just the MF. Others who are better at searching this site might be able to find it. Did @Grammarhero start it? I really can't remember, but I do know that thread exists.

Right you are. It's a "sticky" (yes, started by Grammarhero, in 2020) in the Buying, Selling, Rental forum.The sticky is entitled "Timeshare Default Credit Report / Collection Tracking".There are 147 posts there, all viewable, but the thread seems to have been "closed and locked" to further input sometime after mid-May, 2022, for reasons unknown to me.

 

[sue1947]

Again -- what do you own?

The profile shows Izaty's On the Lake in Minnesota.

 

[schreib69]

Right you are. It's a "sticky" (yes, started by Grammarhero, in 2020) in the Buying, Selling, Rental forum.
The sticky is entitled "Timeshare Default Credit Report / Collection Tracking".
There are 147 posts, but the thread seems to have been "closed and locked" sometime after mid-May, 2022, for reasons unknown to me.

It would be great if you could paste in the URL for the main website for tiger trader timeshares. I am only finding some "BROKER" for trading stocks. . .
thanks.

 

[bnoble]

I have tried to sell it sporadically for $1 on this site and other places. NADA.

It might depend on what you mean by this whether or not you've exhausted this option. If you are trying to sell it for $1 on the "TUG Marketplace" then it will be hard. That's more appropriate for a timeshare that has some organic demand, and it doesn't sound like what you have. But, you can list it for free on the bargain thread: there are always folks who might be interested in a random timeshare for random reasons, and you might find a hit there. If you haven't tried that yet, it is worth a shot.

Again -- what do you own? It's a lot easier to dole out advice if we know what you have.=

The profile shows Izaty's On the Lake in Minnesota.

There is another possibility. If you happen to own a peak week (basically: between Memorial Day and Labor Day) you may have a diamond in the rough. Your resort has a good "quality" rating in both of the major timeshare exchanges (RCI and II), and I think you could use it in either one. That would let you trade your week for something else. Even if you don't have a prime week, you may have at least some other options. If you tell us the unit size/season or week you own, we can give you better guidance.

For example, I have a 2BR summer midwest week, at a resort that is not as highly rated as yours, and it does very very well, particularly in II.

 

[schreib69]

The profile shows Izaty's On the Lake in Minnesota.

OK, Yes, it is Izaty's on the Lake in Onamia, Minnesota, Mille Lacs Lake, week 20-- just after start of Fishing season.
I would give it away or for a buck!
$810 maint. fees / yr. Nice place actually. Putting it up on Red Week for sale:
2 BR, 2 bath, two level with a loft, sleeps six, view of wetlands, Resort has 18 hole golf course, fulll protected marina. I own it, have the deed. I have never stayed there always exchanged for an Interval resort. Have failed to do so in last few years.
(Please somebody take it!) ha!

The Village at Izatys

Welcome to the Village at Izatys, Minnesota’s premier golf resort on Lake Mille Lacs, just 90 minutes from the Twin Cities!

thevillageatizatysresort.com

 

[schreib69]

Thanks, will try your bargain link.
We have failed to follow through on exchange for last few years, various reasons, no excuses!

 

[theo]

It would be great if you could paste in the URL for the main website for tiger trader timeshares. I am only finding some "BROKER" for trading stocks. . . thanks.

I know / care nothing about "tiger trader timeshares", as I don't “exchange” at all. That topic was not any part of my response to amycurl. Fwiw however, I do know that no such thing as a “main web site for tiger trader timeshares” even exists.

 

[schreib69]

It would be great if you could paste in the URL for the main website for tiger trader ?? timeshares. I am only finding some "BROKER" for trading stocks. . .
thanks.

 

[schreib69]

I know nothing about "tiger trader timeshares"; I don't "exchange". The topic was not any part of my response to amycurl but, fwiw, I don't believe that any such site exists.

sorry, I figured you and she were both describing the same / siimilar website: called tiger trader??! ha? I am just confused.

 

[schreib69]

Could you please read over my description of the unit above and tell me if you consider it to have "organic" demand. I just have no metering stick to assess the property with any context. You seem to at least. thanks!

 

[schreib69]

Right you are. It's a "sticky" (yes, started by Grammarhero, in 2020) in the Buying, Selling, Rental forum.
The sticky is entitled "Timeshare Default Credit Report / Collection Tracking".
There are 147 posts, but the thread seems to have been "closed and locked" sometime after mid-May, 2022, for reasons unknown to me.

OK, so could you paste in the URL which YOU refer to . . . Which website, tab. . . something to guide me? thanks.

 

[schreib69]

Before going this route, have you tried giving it away? I know nothing about your timeshare, so have no idea if it is worth anything. However, if you were willing to take the credit hit, and willing to pay the scammers fees, why not try to just give it away yourself? Here is the tug 'how to' info on getting rid of your timeshare: Get rid of your timeshare.
Post what you have in an ad in the Bargain forum. Make it sound great; post some pictures; you bought it for a reason. You may no longer want it, but somebody else may be looking for what you have, especially if it's the only timeshare in the area. Give it a try; what do you have to lose?

I took your advice and posted in the bargain cave. . . and posting it next week on Red Week, $1.
Have read all the stuff in Get rid of your timeshare line long ago. I am just extremely frustrated.

Interested in any advice you can offer based on my description of it in this thread. . .

 

[theo]

OK, so could you paste in the URL which YOU refer to . . . Which website, tab. . . something to guide me? thanks.

Patience, Grasshopper. No URL required. What amycurl referred to and which I then located is RIGHT HERE ON THIS TUG SITE, just two mouse clicks away.

Go to the TUG forum entitled "Buying, Selling & Renting Timeshares". The "Timeshare Default Credit Report Collection Tracking" thread started by Grammarhero in 2020 (but now apparently closed to further input) is right there, highlighted in pink, directly beneath the forum title. The info there is certainly limited and may very well not include whatever it is that you own, but the collective info there still at least provides some insight into patterns and percentages and consequences when people default. Good luck.

 

[schreib69]

Right you are. It's a "sticky" (yes, started by Grammarhero, in 2020) in the Buying, Selling, Rental forum.
The sticky is entitled "Timeshare Default Credit Report / Collection Tracking".
There are 147 posts, but the thread seems to have been "closed and locked" sometime after mid-May, 2022, for reasons unknown to me.

I just really read the detail in your text: "closed and locked". . . SO, no one can access the information in it?! This sounds like a cover up. The Powers that BE don't want people to understand how to dump a timeshare in the most effective? way?! Unreal. No wonder you can't find anything that is TRULY helpful on the internet. Probably the timeshare exit companies are paying off TUG to deep six it!
If you have the URL I may still be able to get back copies of the page using the internet archive. ??? have one?

 

[bnoble]

Dude. Breathe. We are trying to help.