Was contacted by a timeshare exit group. Went to their informational meeting. They informed us new laws went into effect in 2015 and timeshare owners were given an option for 30 months to convert their programs to pay as you go points and get rid of monthly maintenance fees. We were never notified of such a thing. The exit co. gave us the option to pay an exit fee (along with Wyndham’s numbers) to get us out of our timeshare and get rid of maintenance fees forever. They said Wyndham flagged our account and this was our only time to sell at a discounted rate. Seemed kind of pricey. We own Wyndham Bonnet Creek, only every other year. They said Wyndham is no longer honoring Ovations program (too many lawsuits) and it is bad anyway and if we try to sell on our own, we are responsible for 8 years for liability if new owners don’t keep up with maintence fees. So no great options. Seems crazy to me and I don’t see anything like this in the threads. Did Wyhdham ever offer this conversion program. If so, was there a time limit? We are just thinking about selling but don’t want to be rushed and obviously don’t want to pay money to get rid of it! This sounds like a grand scam! I don’t think I trust Wyndham either due to lies in the past.
So many lies.
1. Went to their informational meeting. —- this was your one and only mistake. Don’t go to these ever again. If they are calling you, it’s a scam.
2. They informed us new laws went into effect in 2015 and timeshare owners were given an option for 30 months to convert their programs to pay as you go points and get rid of monthly maintenance fees. —- There was no such program and no law changes like that. If there were, you would have found threads about it during your searches.
3. We were never notified of such a thing. —- Because it doesn’t exist.
4. The exit co. gave us the option to pay an exit fee (along with Wyndham’s numbers) to get us out of our timeshare and get rid of maintenance fees forever. —- never pay upfront. If you want, I can tell them what they can do with their “options”. I’ll do it for free. No charge.
5. They said Wyndham flagged our account and this was our only time to sell at a discounted rate. —- they know nothing of your account. Why would Wyndham give a random exit company that kind of information? You’re account is not “flagged”.
6. They said Wyndham is no longer honoring Ovations program (too many lawsuits) and it is bad anyway. —- there are still people using Ovation. They have not stopped “honoring” them. There is nothing to “honor” anyway. Wyndham was never obligated to take your timeshare. It’s always been at their discretion. I’ve only heard of a couple people get turned down. They were trying to turn in weeks at resorts Wyndham didn’t sell or manage. If Ovations started rejecting requests, you would hear about it here or on the Wyndham Facebook groups. People love to complain. If there were lawsuits regarding Ovation, you’d hear it here or the Facebooks groups as well. I also have not heard anything bad about it. I personally gave back a small contract that wasn’t worth selling. From the time I picked up the phone, to the time it was gone from my account was four weeks. Even if that exit company was legit, they wouldn’t be able to beat that. It would take months for anyone to get your contract out of your name.
7. if we try to sell on our own, we are responsible for 8 years for liability if new owners don’t keep up with maintence fees. —- 100% BS. Once it’s transferred in the owners name, you’re not responsible for the maintenance fees. It’s a common scare tactic that is used by these exit companies. I hear it over and over on the Facebook groups. The exit companies use that lie a lot because it works. It’s 100% a lie.
8. This sounds like a grand scam! - that’s because it is. You sir, have a very well tuned bulls*** detector. Good call on listening to it.
I hope this helps.