Exit company not performing

[stewartmorgan]

I hired a exit company and I don't feel they are performing as they said they would. They say they are in negotiations with the timeshare company and don't forward any details. It's been 8 months since I hired them. Is this the way all exit company's work, and should I ask for a refund. What are my rights?

 

[Ken555]

If you can get a refund, do it! Most of those firms don't do anything you couldn't do yourself.

 

[ScoopKona]

I hired a exit company and I don't feel they are performing as they said they would. They say they are in negotiations with the timeshare company and don't forward any details. It's been 8 months since I hired them. Is this the way all exit company's work, and should I ask for a refund. What are my rights?

You are being scammed.

They'll keep coming up with plausible reasons why you should send them money. As long as you do, they will keep you on the hook for as long as they can. You are nothing but a revenue stream to them.

They are ALL scams without exceptions. At best, they are charging you money to do what you could have done yourself for free. But usually they're not even that.

 

[stewartmorgan]

You are being scammed.

They'll keep coming up with plausible reasons why you should send them money. As long as you do, they will keep you on the hook for as long as they can. You are nothing but a revenue stream to them.

They are ALL scams without exceptions. At best, they are charging you money to do what you could have done yourself for free. But usually they're not even that.

They say because I have a mortgage that this is the process. So will it go into foreclosure either way?

 

[WorldT]

They say because I have a mortgage that this is the process. So will it go into foreclosure either way?

Yes.
If you had just stopped paying, you would have arrived at the same point without having to pay the exit company any money. There is absolutely nothing they will do for you besides ask you to give them more money.

 

[stewartmorgan]

Yes.
If you had just stopped paying, you would have arrived at the same point without having to pay the exit company any money. There is absolutely nothing they will do for you besides ask you to give them more money.

Will the exit company come after me if I still owe them money?

 

[ScoopKona]

Will the exit company come after me if I still owe them money?

They can't. They're scammers.

Should have asked here first.

 

[Patri]

Will the exit company come after me if I still owe them money?

How can you owe them money? If you mean you owe the timeshare company, no, the exit company will not come after you. They don’t care.

 

[TUGBrian]

as mentioned above, you could accomplish the exact same outcome for free by stopping payment yourself

a with countless thousands of other victims, we wish you would have found us ahead of time. Make an effort to get a refund, but in most cases you have some very long odds.

Timeshare Scam Advice & Help – How Owners Protect Themselves

Free owner-written guide to spotting timeshare scams, avoiding upfront fees, and knowing your real options.

tug2.net

 

[TUGBrian]

How can you owe them money? If you mean you owe the timeshare company, no, the exit company will not come after you. They don’t care.

many exit companies now pitch a program you enroll in where you pay a monthly fee for their "services". its brilliant actually because it usually results in even more money than the large upfront fee they used to charge due to how long it usually takes for a resort to navigate thru the default process with an owner.

 

[vail]

Interesting how this went from "should I ask for a refund?" to will they come from after me?

 

[billymach4]

Will the exit company come after me if I still owe them money?

How is it possible that you continue to owe this so called exit company and Fee or money? BTW what timeshare is this and how much do you owe on the mortgage is a better question.

 

[billymach4]

as mentioned above, you could accomplish the exact same outcome for free by stopping payment yourself

a with countless thousands of other victims, we wish you would have found us ahead of time. Make an effort to get a refund, but in most cases you have some very long odds.

Timeshare Scam Advice & Help – How Owners Protect Themselves

Free owner-written guide to spotting timeshare scams, avoiding upfront fees, and knowing your real options.

tug2.net

I see TUG Brian's answer here. But we are still interested in knowing about your mortgage and timeshare? I will take a guess and say Wastegate? aka Westgate?

 

[andre10056]

I hired a exit company and I don't feel they are performing as they said they would. They say they are in negotiations with the timeshare company and don't forward any details. It's been 8 months since I hired them. Is this the way all exit company's work, and should I ask for a refund. What are my rights?

Hi stewartmorgan.

I'm so sorry to hear that you've been scammed twice, once by the resort sales staff and again by the exit company.

But rest assured you're not the only one. There are thousands just like you. I'm truly amazed that such business practices have not already been shut down.

In any case, many of the above posts advocate that you simply not pay a dime to the resort entity any more. I'll agree that it seems that might be the optimal strategy at this point.

But I'd like to suggest something else that you might like to look into. Many of this country's law schools have student clinics where they help people out with their legal issues. I have to believe that, if the timeshare entity might ever come after you, that they'd be ready, willing, and able to defend you. I truly don't know how your student attorneys would ever not prevail if they requested, as they would certainly request, a jury trial. What jury would find in the resort entity's favor once you testify to all the lies you were told and the true value of your timeshare which is most often given away for free (and hence has zero value)? There's no way that any jury would find in favor of a scammer...and there's no doubt that everyone you've interacted with involving your timeshare has been a scammer.

Make a list of all the lies you were told so you won't forget. All of those lies were fraud and your defense would be "fraud". The lies may include:

-the timeshare is one of the best real estate investments you can make and will POWERFULLY appreciate (even though the ebay "timeshares for sale" section has countless listings where people are unable to give away their timeshare for one dollar)

-the latest forecast is that your maintenance fees will decline

-even though your deeded week will be in the off season, you will always be able to trade it for peak summer (or whatever) season at even the most luxurious worldwide resorts

-if you can't yourself travel any year, we can rent your unit for twice your annual maintenance fee

And who knows what else they may have told you.

 

[easyrider]

Will the exit company come after me if I still owe them money?

It depends on what you signed. Any company can file a suite for breach of contract when a client breaches the contract. Your guess is as good as anyones regarding what they will do.
My guess is yes, they will passivly attempt to collect whatever you owe.

Bill

 

[WorldT]

Will the exit company come after me if I still owe them money?

Are you saying you didn't finish paying the exit company fees? Why are you worried about them? They scammed you. You are worried the scammers will take you to court? They are not that stupid! Taking you to court will put them in the spotlight and may actually put a legal risk on their neck, two things they have been working real hard to avoid.
You should be demanding they return your money. However, I seriously doubt you will be successful.

 

[stewartmorgan]

I see TUG Brian's answer here. But we are still interested in knowing about your mortgage and timeshare? I will take a guess and say Wastegate? aka Westgate?

No, it's Bluegreen, and yes there's a balance of mortgage. They have told me that I cannot qualify for the deedback program because there is a mortgage. Because of the mortgage I may be headed for foreclosure. Do you know how long foreclosure takes. I'm leaning towards that.

 

[Carolinian]

On the Outer Banks, most timeshare HOA's will take deedbacks from members, if asked, although they don't advertise that which might encourage more of it. Having been an HOA president, I can tell you that a deedback is quicker and much cheaper for the HOA than having to do a foreclosure for m/f's. But I have seen too many examples of exit companies charging outrageous fees for things that people could do themselves. Heck I even know of one instance where they scammed big fees from one person for three summer weeks that could easily have been sold for a decent amount of money.

 

[andre10056]

On the Outer Banks, most timeshare HOA's will take deedbacks from members, if asked, although they don't advertise that which might encourage more of it. Having been an HOA president, I can tell you that a deedback is quicker and much cheaper for the HOA than having to do a foreclosure for m/f's. But I have seen too many examples of exit companies charging outrageous fees for things that people could do themselves. Heck I even know of one instance where they scammed big fees from one person for three summer weeks that could easily have been sold for a decent amount of money.

And even if the "no mortgage" timeshare can't be sold for a decent amount of money, and the HOA refuses to take back the deed, why pay $7000 or $8000 or $9000 to an exit company? For a timeshare with no positive value (the majority of those out there despite what most timeshare owners may think), why not keep sweetening the deal until someone DOES agree to put their name on the deed?

For example, you go from (1) a sales price of $1 and (2) paying for the next use year's maintenance fee (such that the buyer/acceptor gets to stay for free that year) and (3) paying for all closing and resort fee expenses to:

(1) a sales price of $1 and (2) paying for the next use year's maintenance fee (such that the buyer/acceptor gets to stay for free that year) and (3) paying for all closing and resort fee expenses and (4) offering $250 or $500 or $750 or $1000 cash upon closing. Etc., etc., etc. until it's sold.

That'd still most likely be thousands less than paying the exit company $9000. So I don't understand the logic of paying someone THAT kind of money to exit. Many people would likely agree to put their name on the deed in exchange for all of the above. And not just judgment-proof people (i.e., "you can't squeeze money out of a stone" people) who would very likely be willing to take on fifty deeds per year.

Of course, there's always the alternative option of simply not paying which may, indeed, be the optimal option, all things considered.

 

[stewartmorgan]

Are you saying you didn't finish paying the exit company fees? Why are you worried about them? They scammed you. You are worried the scammers will take you to court? They are not that stupid! Taking you to court will put them in the spotlight and may actually put a legal risk on their neck, two things they have been working real hard to avoid.
You should be demanding they return your money. However, I seriously doubt you will be successful.

I have been engaged with them for 8 months and paid them almost three grand and still owe about one thousand. I'm not going to make any further payments to them, just going to try to get my money back. I doubt I will get the money back but what else can I do with my time.

 

[TolmiePeak]

It depends on what you signed. Any company can file a suite for breach of contract when a client breaches the contract. Your guess is as good as anyones regarding what they will do.
My guess is yes, they will passivly attempt to collect whatever you owe.

Bill

And if so you would need hire another lawyer to get out of another legal problem.

 

[ScoopKona]

I have been engaged with them for 8 months and paid them almost three grand and still owe about one thousand. I'm not going to make any further payments to them, just going to try to get my money back. I doubt I will get the money back but what else can I do with my time.

This, too, is a mistake.

Walk away. And walk away quietly. Most of these stories involve people who want to involve the DOJ, FBI, FTC, BBB. They'll lawyer up and spend even more money chasing ghosts. You got cheated by the timeshare company. Then you got cheated by the exit company. There is no recourse. Thousands of people before you have tried the same thing. And not once ever have I read a success story where someone was made financially whole by fighting the system.

This minor chapter in your life has already taken too much time and too much money. Close this chapter just as fast as possible and open a new chapter.

 

[billymach4]

No, it's Bluegreen, and yes there's a balance of mortgage. They have told me that I cannot qualify for the deedback program because there is a mortgage. Because of the mortgage I may be headed for foreclosure. Do you know how long foreclosure takes. I'm leaning towards that.

I have no idea. However since you are hard set on foreclosing, I would also stop payments to the Exit company as well. The foreclosure process will likely take months or possibly over a year. Again no idea.

Since there is a mortgage involved you have a good chance of taking a hit to your credit. Again I am no expert in this Subject Matter and my opinion is a guess.

 

[dioxide45]

many exit companies now pitch a program you enroll in where you pay a monthly fee for their "services". its brilliant actually because it usually results in even more money than the large upfront fee they used to charge due to how long it usually takes for a resort to navigate thru the default process with an owner.

They've realized that not many people can pony up thousands or tens of thousands upfront for an exit. So they do this instead. They can probably extract more from the timeshare owner over time and it is an incentive to drag it on as long as possible.

 

[VacationForever]

Exit companies are scammers. Do not pay a dime more.