How to Get Rid of Newly Bought Timeshare

[Great3]

If you are too desperate trying to get rid of your timeshare, you will probably only end up losing more money, in this case looks like $3000+, and still have your timeshare left at the end of the day.

 

[Carol C]

Actually, $8,900 is pretty cheap as far as hard timeshare lessons go, judging from reading the posts of victims that regretted their purchases in the $18K+ range.

My first was from developer in Mex for $ 8600. I learned from TUGgers how to milk what I had. Since then I've bought resales, gotten a few for free and given away some for free. If you like to travel in style and comfort annually then keep and use well your first timeshare. No use crying over spilled milk. Now read TUG daily and learn how to milk your $8900 cow!

 

[RX8]

Here are some important things to know about this "successful" company:

• Website created 7 months ago
• While they are proud of their "A" BBB rating they have paid to become BBB accredited. Their BBB file is only 3 months old.
• While they state that their legal name is Trash Your Timeshare, LLC there is absolutely NO record of any legal entity by that name operating in the state of California so that would be a lie.

 

[blehhitstu]

Thanks to those who replied to me about the 'trashyourtimeshare' company.

Sorry, I didn't mean to come off suspicious. I knew the answer. I already knew it was not legitimate.....

There was another person who needed the explanation- didn't believe me when I said it's not legitimate. I said, "Just because this Casey guy guarantees you things, and will provide actual paperwork for you at an actual office.. it doesn't mean he's an elaborate scheme artist."

And I know that the only option from here on out is to use that timeshare wisely since we're stuck with it....

or offer a deedback? I haven't really learned what that means yet though.

 

[Bill4728]

T
And I know that the only option from here on out is to use that timeshare wisely since we're stuck with it....

or offer a deedback? I haven't really learned what that means yet though.

Deedback:
Some companies will take back your TS from you. Most of the time they offer this as an option to people who owe no money on a TS loan and owe no money in MFs (Diamond -DRI is currently doing this) This kind of deedback does not reflect on your credit

Some companies will take back your newly bought TS if you can demonstrate that you can not pay for it. When doing this they keep all the money you have paid them so far. This kind of deedback will almost always reflect badly on your credit

Sorry for the news

 

[Passepartout]

If I recall correctly, there is a second loan on this TS. Either on a credit card, or from a mortgage lender. So even IF (unlikely) the developer consents to accept a deedback in lieu of foreclosure, the outstanding loan remains. The OP would have to either pay that off separately, or convince the developer to refund what they accepted from that lender (even more unlikely).

I really don't see an alternative to paying off the total, as agreed, and count it as an $8900 lesson in how the world works.

All in all, it's not the world's end. His/her family will hopefully get some great memories after the bad taste of getting taken for a ride financially fades. The reasons the OP saw for buying this vacation resort are still valid.

We wish you well. Stick around TUG. Learn to get the most from it. Enjoy some great vacations.

Jim

 

[annesupnow]

Is that timeshare related to Welk Resort timeshare? They have one in Branson Missouri too. I had and am having about the same experience as you. I really want out. I hope that I successfully get out of the contract and get all my money back. They are so dishonest and underhanded

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[tgrestin]

First call the Timeshare Resort and see if they have a give back program, I am in the process of getting out of my timeshare for $850 through the Resort. A company wanted to charge me over $4000 to help me get rid of it. A lot of Resorts will take them back for a fee. The $850 is less than what it is going to cost me in maintenance and taxes come January.