[2009] ? about Transfer Smart

[wwilber]

I paid this outfit $3800.00 in July 2010 and was told I would be out of it within 6 months. They first used Chicago Title which did nothing for a year except lie to me. They now use (since July 2011 ) Property Relief out of sevierville tenn. who are also a bunch of liars. They supposedly keep losing papers and now they called me yesterday March 2, 2012 telling me that I had to pay Wyndham $1085.00 maintenance fee for 2011. (REMEMBER, I paid transfer smart 3800.00 in July 2010 and also paid my $902.00 maintenance fee for the year.). It is now 21 months later and I still have my timeshare.
When you sign with with timeshare smart you are told that you do not have to pay any more maintenance expenses.

 

[barbiec12]

Transfer Smart - any new info?

I just rec'd one of those flyers from Transfer Smart - have read the posts regarding paying 6 or so years of maintenance fess to them and being absolved or the timeshare. My maintenance fees are about $1,300 a year - $7,800 - that's a chunk of change! Also - I read a post where Wyndham also wanted money to get out from under the TS.

I would appreciate any updates. Transfer Smart is going to be in my town at the end of the month. I was hoping to donate my TS to some high profile charity and get a tax write off rather than pay someone to take it off my hands - gads - I spend $25,000 for two red weeks - enough is enough.

Thank you.

 

[theo]

There are no "updates" to the age-old song and dance...

I would appreciate any updates. Transfer Smart is going to be in my town at the end of the month.

The fundamental and eternal problem with most of these PCC "relief" outfits is their (deliberate and willful) failure to prepare and record a new deed in a valid name other than yours until or unless they "resell" it to someone else via a Power of Attorney signed when you pony up the multi-thousands of $ at the "meeting".

The PCC's collect those big fees in part to hedge their bets, hoping to dump the timeshare (usually via eBay) within a very few months, for whatever they can get (...a dollar will be just fine, thanks) --- and just pocket the rest as pure profit for themselves, hopefully long before the next maintenance fee bill even gets issued.
If that plan doesn't actually happen (for whatever reason), take a wild guess who still owns the timeshare years later, despite the previous big outlay of serious money to part company with the ownership...

There is one so-called "donation" outfit I know of that prepares and records a new deed in their own name before reselling it, although their fees are just as hefty as all of the others. The attorney who owns that "donation" outfit also owns the closing company which handles the later sale, so all of the various collection proceedings throughout the entire process are, shall we just say, "internally contained". It's not my intention (or desire) to provide that particular "donation" outfit with any advertising so I decline to name it here, but fwiw it's not "Transfer Smart". If you are (unwisely, imho) determined to "pay to part" --- keep looking.

P.S. Take any and all Internet "tax advice" regarding timeshare donation write offs with a grain of salt.
The "fair market value" of a timeshare you can't even give away for free is clearly and exactly ZERO.
The calculation of any "deduction" is really quite simple when you start with the harsh reality of that figure.