searching for a legit postcard company - what would convince you?

[wawacito]

Here is my situation - I believe there are MANY of us in the same boat.

Option 1: Sell it - tried it - no takers.
Option 2: Give it away for free - no takers.
Option 2a: Give it away completely fee where I even pay the transfer / closing costs - still no takers.
Option 3: Stop paying maintenance and ignore it and hope it will go away - no go because it ruins credit and goes into collections and be loads of headaches.
Option 4: Give it back to resort - no go - they won't take it.
Option 5: Covert it to Wyndham points - no go because that means MORE money and STILL maintenance fees.
Option 6: PAY someone to take it.

Many of us are at option 6 because we have NO OTHER option and we are desperate to get out of our timeshare. Yes we are WILLING TO PAY someone to get out of our timeshare. That's how desperate we are. But as we all know on this site - there are WAY too many scams out there.

Is there ANY company out there that is legitimate that will take our timeshare from us completely and clearly and properly? When evaluating a postcard company offer - how can we determine if it really works? What would convince you that this company is legit?

 

[TUGBrian]

the situation you find here, is that ANY company willing to take a timeshare that fits into teh above category, is most certainly going to deed it into an LLC and abandon it.

so in essence, you are paying someone hundreds if not thousands of dollars to defraud your timeshare HOA, and all the remaining paying owners who are now obligated to pay for your unit.

sadly, in many cases there are very few options..and even a terrible option is better than no option id gander.

before I personally did that though, id contact everyone and their mother at the resort and HOA and explain that I was approached by said PCC...and were going to use them.

it is far better for the resort to get the unit back willingly (or even have you pay the same fee to them) vs having it deeded into a phantom corp they will never hear from again.

 

[DeniseM]

+1.........

 

[timeos2]

There are no legit PCC's. They are all at the least based on misrepresentation and most are outright money grabs and nothing more. If you deal with one you are risking not only your money but may well still find you own the resort you paid to be rid of. Don't even consider it unless you have money to burn.

Why would you believe in these mostly scam groups anymore than the many experienced users/owners here that have nothing to gain by advising you? Makes no sense. You know deep down it isn't an answer or you wouldn't even be asking. You won't find support here unless the occasional shill post comes along.

Find a taker on your own & be done with the timeshare you no longer want. Save your money & credit score. A PCC won't do either for you.

 

[Ridewithme38]

[What part of "STOP" don't you understand? - DeniseM]

 

[wawacito]

why would I believe it? because I want it to be true - i need it to be true.
the answer you give - that there is no way out - although probably 100% true - breaks my heart.

 

[wawacito]

what about companies like DonateForACause.org?
Surely they are reputable are they not?
They want $1500 paid at closing NOT up-front.
If DonateForACause can do it - why not others?

 

[DeniseM]

what about companies like DonateForACause.org?
Surely they are reputable are they not?
They want $1500 paid at closing NOT up-front.
If DonateForACause can do it - why not others?

Because most of them (not DFAC) are scammers - they would rather just steal your upfront fee and let you keep your timeshare. MUCH easier than trying to get rid of a timeshare with no resale value. That's why the "Viking Ship" model has become so prevelant....they don't even try to sell your TS - they just abandon it.

 

[wawacito]

So you are saying DFAC is legit? How do they do it then? How do they get rid of timeshares with no resale value?

My understanding is that TimeshareRefuge.com sells the timeshares to Sumday Vacations, and Sumday vacations sells them on ebay. If all of this is correct, that means its not going into a viking ship.
So far the posts from TheNoob and travelwizard1971 seem to indicate that the name of a real person is listed on the new deed and not some vikingship LLC.

 

[DeniseM]

If by "Legit," you mean will they transfer the timeshare out of your name legally? - yes, I believe so.

However, be careful of their tax advice, because they may advise you that you can write the TS off for more than the fair market value, and that could be a problem if you get audited.

 

[wawacito]

So if one company - namely DFAC - can do it legally - how is it possible for them?

 

[TUGBrian]

legitimate "charities" wont take timeshares they cant flip or sell mate.

illegitimate ones will take anything you want to pay them to take...and then deed them into a bogus llc.

 

[wawacito]

but mine is unsellable and yet DFAC - a legitimate "charity" - said they would take mine for a fee of $1500.

So my question is: if my timeshare is unsellable and yet a legitimate company like DFAC says they can get rid of it - how can I tell if other companies are also able to do it and how can i tell if they are legitimate?

Here is partial text of the email:

PROGRAM 2: NO UPFRONT FEE GUARANTEED LIQUIDATION PROGRAM
The Liquidation Program is a low cost, quick, exit plan for timeshare ownership. We transfer your timeshare to one of our timeshare brokers/affiliates and you are done with it.
People who benefit from this program:

· Are on a fixed income

· Do not pay US taxes and therefore can’t recoup the costs of donating

· Have multiple timeshares

· People who want to get out of their ownership for the least amount possible

The Liquidation Program cost is $1495.00 (Paid at Closing) plus the Resort Transfer Fee of $299.00 you will not have to pay the liquidation fee until you sign the deed transferring the property out of your name. You will be responsible for the 2012 maintenance fees and any other fees assessed in 2012. The entire process takes about 4-8 weeks. This is not a donation to a charity and therefore these fees may not be tax deductible. As far as guaranteed programs, this is the least expense option for you to have your unwanted timeshare transferred out of your name.

 

[LannyPC]

what about companies like DonateForACause.org?
Surely they are reputable are they not?
They want $1500 paid at closing NOT up-front.
If DonateForACause can do it - why not others?

Are you sure they "only" want $1500? I thought they charged at least $2500 for ones that could easily be flipped or can rent out for more than the MFs.

For ones that are "blue" weeks, they usually charge a lot more.

If they are indeed charging "only" $1500, then I would check to make absolutely, positively sure that they are transferring the DEED (noy POA) into their name and not just acting as an in-between.

 

[timeos2]

IF DFAC will take it - they may not as they do not take them all- then that means they feel it CAN be sold. That means you could too. Plus they also use misrepresentation regarding tax benefits so you would be trusting a company that makes at least questionable statements. I wouldn't trust them with my $1500 based on such things. Use the $1500 to lure a real buyer/deal.

 

[ronparise]

I would start with an ad here on tug, or a post in the bargain forum..Tell us what you own and how much you are willing to give someone to take it...and I bet you get multiple offers

 

[ace2000]

it is far better for the resort to get the unit back willingly (or even have you pay the same fee to them) vs having it deeded into a phantom corp they will never hear from again.

I still don't understand how a deedback is any different than the viking ship approach from the perspective of the other owners at that resort having to pick up the slack. Someone want to break that down for us?

 

[ace2000]

I would start with an ad here on tug, or a post in the bargain forum..Tell us what you own and how much you are willing to give someone to take it...and I bet you get multiple offers

LOL, that scenario does not always occur. I think that is the point of the OP.

 

[ronparise]

Theres a guy out there that will take your timeshare for $500. You send your contract and deed and the $500 to the closing company of your choice. You also pay your closing companies fees and any transfer fees

The fact that you pick the closing company is your assurance that the deal gets done

He make no bones about it..he will not pay a nickle in maintenance fees, He will offer it back to the hoa, but he doesnt care about collections or his own credit report.. he also thals about tax deductions, but I wouldnt worry if that true or not...just dont take a deduction and you should be safe from the IRS.

Legit?...I dont know, you decide, but it sounds like he will really take ownership

 

[timeos2]

Theres a guy out there that will take your timeshare for $500. You send your contract and deed and the $500 to the closing company of your choice. You also pay your closing companies fees and any transfer fees

The fact that you pick the closing company is your assurance that the deal gets done

He make no bones about it..he will not pay a nickle in maintenance fees, He will offer it back to the hoa, but he doesnt care about collections or his own credit report.. he also thals about tax deductions, but I wouldnt worry if that true or not...just dont take a deduction and you should be safe from the IRS.

Legit?...I dont know, you decide, but it sounds like he will really take ownership

And since he admits he intends to default the "transfer" may be deemed fraudulent so both he & the (still) owner subject to fees, credit hits and even possible prosecution. And the owner out $500. Not a good bet IMO.

Use the $500 as incentive for a real buyer if needed to make a true sale

 

[Rent_Share]

I still don't understand how a deed back is any different than the viking ship approach from the perspective of the other owners at that resort having to pick up the slack. Someone want to break that down for us?

Once Title is vested in the name of the LLC, it becomes a non performing as to maintenance fees, the HOA is burdened with foreclosing in order to sell it. Since the "officers for service" (the real human beings to receive legal notices) are difficult to find, the HOA's will incur significant legal expense in proving due diligence to notify the recorded owners . . . Most state provide alternative remedies, but the process is expensive

 

[theo]

You are missing some important details here...

but mine is unsellable and yet DFAC - a legitimate "charity" - said they would take mine for a fee of $1500.

So my question is: if my timeshare is unsellable and yet a legitimate company like DFAC says they can get rid of it - how can I tell if other companies are also able to do it and how can i tell if they are legitimate?

Here is partial text of the email:

PROGRAM 2: NO UPFRONT FEE GUARANTEED LIQUIDATION PROGRAM
The Liquidation Program is a low cost, quick, exit plan for timeshare ownership. We transfer your timeshare to one of our timeshare brokers/affiliates and you are done with it.
People who benefit from this program:

· Are on a fixed income

· Do not pay US taxes and therefore can’t recoup the costs of donating

· Have multiple timeshares

· People who want to get out of their ownership for the least amount possible

The Liquidation Program cost is $1495.00 (Paid at Closing) plus the Resort Transfer Fee of $299.00 you will not have to pay the liquidation fee until you sign the deed transferring the property out of your name. You will be responsible for the 2012 maintenance fees and any other fees assessed in 2012. The entire process takes about 4-8 weeks. This is not a donation to a charity and therefore these fees may not be tax deductible. As far as guaranteed programs, this is the least expense option for you to have your unwanted timeshare transferred out of your name.

DFAC and Resort Closings, Inc., co-located in Bozeman, Montana, are both owned by the same individual, an attorney named James Tarpey. This "vertical integration" is somewhat unique to DFAC, compared to other less honest PCC's. DFAC is more honest than most, as they will indeed put the ownership into their own name --- to their undeniable credit. Being able to collect a hefty fee from you --- and hopefully later another $400+ in closing costs from a prospective new recipient (even if sold for only a penny on eBay) DFAC is willing to take that risk (...for now, anyhow). It's probably not a sustainable strategy for DFAC if the economy continues to go "south", but it's workable to DFAC, at least for now...

That said, as Denise has already mentioned, do not take any "tax deduction" advice from DFAC, as said input has historically been grossly inaccurate and just plain false.

 

[ronparise]

FYI

http://www.communityhealthtraining.org/TimesharesWeBuy.htm

You can argue all day that I am doing something illegal because I question the legality of what the good Doctor is doing...and that may well be true. But I dont think the A.G or the resort is coming to get me. And in any case I understand the consequences and I am willing to accept them...I guess Id rather go to jail than pay maintenance fees for something that I dont want or cant use

 

[ronparise]

LOL, that scenario does not always occur. I think that is the point of the OP.

>>>>>>>>>>>>try me>>>>>>>>>>>>>>

 

[bogey21]

However, be careful of their tax advice, because they may advise you that you can write the TS off for more than the fair market value, and that could be a problem if you get audited.

I don't think anyone asked about tax advice. But you are right. A couple of years ago when the PCCs were giving away $25 gas cards for attending presentations I went to three just to see what was going on (and get my free gasoline). In each case they gave the bogus tax advice you refer to.

The thing I noticed is that a hugh percentage of the attendees were old, had used their TS Weeks for years, and had no clue how to get rid of them. I'll bet somewhere between 70% and 80% signed up and paid the money to the PCC.

George

George