Are you thinking of using an exit company?

[RX8]

Don't do it!

New exit companies keep popping up all the time. There is no regulation so anyone, even criminals, can call themselves an exit company and begin soliciting for money. They all start off the same - glitzy website, no complaints on the web, big promises, some companies with glowing reviews the day their website is created (fake reviews), some using shills to promote their company on TUG and elsewhere, and lots of cold calling, most without regard to DNC rules. In most cases you will simply be scammed of your money. In the best cases, you will be free of your timeshare but would have paid them thousands of dollars for them to simply utilize a deed-back program on your behalf that is available to owners at a fraction of the cost. Paying any exit company an upfront fee is a gamble and a bet that you are certain to lose.

Here are just a few examples of the types of companies/people you will be dealing with:

Square One - Lots of complaints, an "F" BBB rating, an owner on the sex offender registry who has now been charged with PPP fraud - (1) Timeshare exit- Square One | Timeshare Users Group Discussion Forums (tugbbs.com)

Timeshare Exit Team - Proudly endorsed by Dave Ramsey, state of Washington filed a lawsuit against them, lots of complaints, "F" BBB rating and now out of business taking with them money from hundreds or thousands of customers. - The end of timshare exit team | Timeshare Users Group Discussion Forums (tugbbs.com)

Timeshare Termination Team - They blasted ads across the country using deceptive tactics ("news story type ads"). They solicited money right up to the day they locked their doors. As with many of these exit companies, their "money back guarantee" was worthless. - Denver local story of a woman who used Timeshare Termination Team to "exit" her timeshare, advertised on that local channel | Timeshare Users Group Discussion Forums (tugbbs.com)

You could throw away thousands of dollars signing up with an exit company or you could seek free advice on TUG on how to give away your timeshare - How can I give away my timeshare on TUG? | Timeshare Users Group Discussion Forums (tugbbs.com)

 

[AwayWeGo]

I would not touch any of those timeshare "exit" or timeshare "disposal" or timeshare "cancellation" operations with a 10-foot pole.

Shux upon them.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[rickandcindy23]

Yes, I am looking for some weeks. If you are feeling stuck with your great weeks, post them for free, and we will all jump on them. No need to pay anything to these awful companies.

 

[dioxide45]

Getting the word out is important. Sadly, most of the people going to these shysters don't know about TUG, don't know about Facebook groups and do the same amount of research into getting out of their timeshare as they did getting into it. NONE. They are lured in by slick sales presentations and offers of something free and fall for the pitch. That list of timeshare exit companies posted from the BBB in another thread had me shocked. I had no idea there were so many.

I often see their ads show up on YouTube. Wesley Financial is one of the big ones. Timeshare Exit Team was also another big advertiser there until early last year. From what I know, they are still there trying to save their hides and prevent future lawsuits. They are just not taking in new customers.

 

[LannyPC]

Don't do it!...In the best cases, you will be free of your timeshare but would have paid them thousands of dollars for them to simply utilize a deed-back program on your behalf that is available to owners at a fraction of the cost.

...or they just tell you to stop paying MFs and let it foreclose. That's something you definitely don't need an exit company to do for you.

 

[escanoe]

To me, the worst part of owning deeded timeshares is there is a public record you own one. Every huckster KNOWS timeshare owners are the best people on Eart to target for scams .... because they were stupid and malleable enough to buy a timeshare.

I know scams have exponential growth all the time, but I swear since there has been a public record of me owning a timeshare there has been no end to the phone call and email scams .... with so many related to timeshares.

Buying a timeshare to me is almost the same as painting a big target on your forehead.

 

[kanerf]

Part of the problem is that many people own really terrible timeshares that no one wants. The first problem is not to get suckered in to buying garbage in the first place. Do the research. Talk to other owners, post questions here on TUG. If you don't know, don't buy and then you will not need to get rid of a timeshare you don't want.

 

[LannyPC]

To me, the worst part of owning deeded timeshares is there is a public record you own one. Every huckster KNOWS timeshare owners are the best people on Eart to target for scams .... because they were stupid and malleable enough to buy a timeshare.

I know scams have exponential growth all the time, but I swear since there has been a public record of me owning a timeshare there has been no end to the phone call and email scams .... with so many related to timeshares.

Buying a timeshare to me is almost the same as painting a big target on your forehead.

I won't disagree with what you're saying. However, the matter of a person owning a timeshare being of public record is not what brings on these scam phone calls. AFAIK, people who "own" TSs in Mexico are not of public record yet they are some of the biggest targets. TS owners' personal information is usually obtained either from employees at the resorts or at the exchange companies and then sold on the side to these scammers.

 

[dioxide45]

I won't disagree with what you're saying. However, the matter of a person owning a timeshare being of public record is not what brings on these scam phone calls. AFAIK, people who "own" TSs in Mexico are not of public record yet they are some of the biggest targets. TS owners' personal information is usually obtained either from employees at the resorts or at the exchange companies and then sold on the side to these scammers.

Public records also only have names and addresses. Usually won't have email or phone number. I suspect most email spam for timeshare exit is just sent out on blast to everyone with no regard to if they own timeshare or not.

 

[RX8]

I wanted to edit my original post but am unable to do so.

Some exit companies look for low hanging fruit, that is easy work for thousands of dollars of upfront fees (the rest of the exit companies are out right scams from the beginning). This easy work are things the timeshare owner can do themselves, but the exit companies don’t want them knowing. For example, deed back programs there for the owner to use themselves, if they are aware of it. Another is foreclosure, something the timeshare owner can do for free but many exit companies will charge thousands of dollars only to have it be foreclosed (and no refund because the timeshare owner is now “out”). Lastly is giving it away. An exit company, if they knew they could get away with it, would charge thousands of dollars to take a DVC off an owner’s hands (which is worth thousands of dollars), convincing them that paying them is their only choice. The exit companies will collect their big upfront fee and then figure out if they can pick the low hanging fruit. What if that particular timeshare is not easy work? In that case, the exit company will kick that can down the road, continuing to kick it down the road, for months or even years, in a stall tactic until the timeshare owner goes away or the timeshare is foreclosed.

in addition to the three timeshare companies in the first post, I wanted to talk about Wesley Financial. They claim on their many commercials that they started the exit industry (I regularly hear their ads on Sirius XM). They also have a good BBB rating. Does that make them any different? The answer is NO.

Wesley has made their living off of low hanging fruit. Their glowing reviews are likely timeshare owners that think Wesley did them a favor for those thousands of dollars. Fact is, Wesley wants their potential customers to be in the dark about their options. Case in point, a TUG member replied to a person asking a question on Wesley’s Facebook page. The TUG member replied to the poster that their timeshare resort had a deed back program for their owners. Wesley promptly DELETED the TUG member’s post and then BANNED the TUG member from ever posting again. Wesley also uses false scare tactics. In their Sirius XM’s commercial, Wesley states “And when you die, your family will be stuck with the burden forever.” Wesley is not a timeshare owner advocate, they are looking to collect millions of dollars from timeshare owners any way possible.

 

[dioxide45]

I wanted to edit my original post but am unable to do so.

All the exit companies look for low hanging fruit, that is easy work for thousands of dollars of upfront fees. This easy work are things the timeshare owner can do themselves but the exit companies don’t want them knowing. For example, deed back programs there for the owner to use themselves, if they are aware of it. Another is foreclosure, something the timeshare owner can do for free but many exit companies will charge thousands of dollars only to have it be foreclosed (and no refund because they are now “out”). Lastly is giving it away. An exit company, if they knew they could get away with it, would charge thousands of dollars to take a DVC off an owner’s hands (worth thousands of dollars), convincing them that paying them is their only choice.

in addition to the three timeshare companies in the first post, I wanted to talk about Wesley Financial. They claim on their many commercials that they started the exit industry (I hear them all the time on Sirius XM). They also have a good BBB rating. Does that make them any different? The answer is NO.

Wesley has made their living off of low hanging fruit. Their glowing reviews are likely timeshare owners that think Wesley did them a favor for those thousands of dollars. Fact is, Wesley wants their potential customers to be in the dark about their options. Case in point, a TUG member replied to a person asking a question on Wesley’s Facebook page. The TUG member replied to the poster that their timeshare resort had a deed back program for their owners. Wesley promptly DELETED the TUG member’s post and them BANNED them from ever replying again. Wesley also uses false scare tactics. In their Sirius XM’s commercial, Wesley states “And when you die, your family will be stuck with the burden forever.” Wesley is not a timeshare owner advocate, they are looking to collect millions of dollars from timeshare owners any way possible.

The fact that they haven't gone the way of Timeshare Exit Team is still shocking to me.

 

[LannyPC]

I wanted to talk about Wesley Financial. They claim on their many commercials that they started the exit industry (I hear them all the time on Sirius XM). They also have a good BBB rating.

That is exactly why many here on TUG put very little stock into BBB ratings. I know there's a TUGger here with the Missouri BBB that defends the BBB and helps call out some of these scammers. But when I see companies like WFG and other upfront fee companies with good BBB ratings, well it makes me wonder about the BBB.

 

[dioxide45]

That is exactly why many here on TUG put very little stock into BBB ratings. I know there's a TUGger here with the Missouri BBB that defends the BBB and helps call out some of these scammers. But when I see companies like WFG and other upfront fee companies with good BBB ratings, well it makes me wonder about the BBB.

BBB ratings are all based on a companies willingness to respond to complaints. Nothing more.

 

[RX8]

BBB ratings are all based on a companies willingness to respond to complaints. Nothing more.

That is very true for complaints. While not related to the ratings, customer reviews can influence those considering the services of the company. There are 5 star reviews from customers not knowing that they could have deeded it back directly to the resort for $1,000 versus paying the exit company $6,000 for the same result. Unfortunately, there are also outright fake reviews posted by the company.

 

[crimebuff]

Are there any legitimate companies?

 

[LannyPC]

Are there any legitimate companies?

Simply put, No! Even if there are, you would be paying them thousands of dollars to do something you can do yourself for a lot less money.

Are you looking to get rid of yours? According to your profile, you joined just over two years ago but are now posting your first post.

 

[RX8]

@crimebuff All exit companies will take your thousands of dollars. They will all use scare tactics, misleading statements and some will outright lie to get the upfront fee. Some will get you out using easy steps you could do yourself, but they don’t want you to know. Some will take your money and advise you to stop paying. Others will just take your money and do absolutely nothing. Either one you get will result in throwing away your money.

 

[TheTimeTraveler]

Are there any legitimate companies?

If you owe money on the loan, or you are behind in maintenance fees then it is doubtful that anyone can help you.

If you own it outright, and are current with all fees then you can attempt to sell it, but more likely just give it away. Sadly put, most timeshares are worth nothing (no matter what you are led to believe).





.

 

[pedro47]

Are there any legitimate companies?

No. Exit companies will promise you the world (with lies liked your timeshare sale person) and in the end, you are still stuck owning that timeshare.