Forbes article on Timeshare Exit

[LannyPC]

What exit company does TUG say to use?

Where did you get the idea that TUG recommends a particular exit company?

If you read the many posts and threads here on TUG regarding exit companies, you would see that TUG strongly recommends staying away from all of them.

 

[RX8]

What exit company does TUG say to use?

The recommended exit is with DIY exit company (Do it yourself). That is because any exit company charging thousands of dollars has the exact same options as you do yourself. Those options are to give it away, deedback to the HOA (if they have that option) or default.

Those low life exit companies in many cases will tell you to stop responding to the resort and stop paying which will always result in default and foreclosure. The scammer exit company would have done nothing but will refuse to refund because they will claim it was their secret method which freed the owner from the timeshare.

 

[lgirand]

The reporter actually responded to my email regarding the article and a followup, fingers crossed!

Hi Brian. Forbes won't let me on the site due to my firm's firewalls. Is there another way to access the article?

 

[dioxide45]

Hi Brian. Forbes won't let me on the site due to my firm's firewalls. Is there another way to access the article?

Perhaps you could access the link from a personal device?

 

[ExDean]

What is the track record for using the MVC Exit Specialists at exit.services@mvwc.com, and/or marriottvacationclub.com/exit? After 25+ years with two MVC properties and the ripe old age of 90 our travel activities have changed. Any info appreciated.

Larry

 

[bluestreak]

We are in a similar situation with age and health issues whereby are unable to travel. We await any possible solution, re: DSV.
GBO

 

[dioxide45]

We are in a similar situation with age and health issues whereby are unable to travel. We await any possible solution, re: DSV.
GBO

If by DSV, you mean Marriott's Desert Springs Villas, have you tried contacting Marriott for a deed back. It will cost $400 for them to do it. Probably the easiest way out. What is the season?

 

[TUGBrian]

another forbes article out today, again reads like an ad for the timeshare industry as it focuses on buying....but not a single word about resale?

Reached out to this author as well, see how they respond!

Are Timeshares Making A Comeback?

The timeshare industry is evolving. From points-based programs to new consumer protections, here’s what you need to know.

www.forbes.com

 

[easyrider]

The reporter actually responded to my email regarding the article and a followup, fingers crossed!

He did. It was the only worthwhile read in the article, imo.

Bill

Not all experts agree on the severity of consequences for walking away. Brian Rogers, founder of the TimeShare Users Group, says the threat of foreclosure and deficiency judgments is often overstated and used as a scare tactic.

Rogers argues that the true exit strategy is far simpler and less risky than often portrayed. He says the “100 percent guaranteed” exit strategy to get any owner out of any timeshare is to stop paying for it.

“Default ends ownership every time," he says.

According to Rogers, the consequences for this action are minimal. "The penalty for default in the majority of situations is absolutely nothing at best, and a credit hit at worst—if they had a hefty loan balance, for instance."

He says resorts rarely pursue full foreclosure or legal judgment against owners who stop paying .

“It’s far too lengthy and expensive a process for a resort to utilize when they know full well the owner is not going to dispute it and wants to give the timeshare back anyway."

The frequent collections efforts, he contends, are merely "scare tactics that are extremely effective."

 

[TUGBrian]

that was the first article, vs the 2nd just published today.

 

[easyrider]

that was the first article, vs the 2nd just published today.

The second article seems true enough regarding flexible points based memberships. I didn't notice anything about Tug. I rarely read Forbes anymore. In the past I only read Forbes articles occasionally. If I had my pick at the dentist or doctors office I wouldn't grab a Forbes mag before any outdoors mag. I think Forbes might be a middle pick, not the first but not the last.

Are you a Forbes subscriber ?

Bill

 

[TUGBrian]

nope, these just pop up in google news feeds for the term timeshare. just interesting to see two forbes articles in such a short time.

that said im always pretty shocked when an article is intended to be informative, but leaves out perhaps the most important bit of information any legitimate interested party would want to know!