Timeshare lawyers, do they work if you owe?

[Abuthemagician]

Wife and I bought in dec 2019 and have never actually used our 35k points. We booked once but surrounding areas went into cvid restrictions so we cancelled. Fast forward to today and it's costing me about 2k per year until the loan is paid off. I owe about 8k. I cannot afford to travel if I'm not making more money at work so I need to get rid of this. My wife found X-Timeshares and Transfer who claim that for about 4k + settlement (likely around $2k) they will represent us to get our legal obligation recinded. Here is their BBB

1. Is this a scam
2. If so what are my other options? I'm willing to take a credit hit, I can't afford any more debt as it is.
3. They want a down payment before they send out "the letter"
4. I've read too much and need a softball.

Thanks in advance, sorry if it gets asked a lot. Couldn't find anything like this situation.

 

[DeniseM]

It's a common SCAM!

Your other option is to simply quit making payments - they will foreclose and take it back.

 

[easyrider]

All these attorneys do is send out letters that explain you are not paying anymore. They don't negotiate anything. Here is a review at the bbb link you posted that explains what these people do. You can do this for no cost by contacting the resort and explaining you can't afford the timeshare. Or just quit making payments.

Bill


Rasheeda W

1 star
07/25/2022
I hired X-Timeshares in May 2020 right before the pandemic. I paid almost $20k for them to ************ my timeshare. Al. X-Timeshares did was send 2 letters. The property was foreclosed on 2 years later and now it negatively affects my credit. I was under the impression we would get a resolution other than foreclosure. I wasted my money as I could have just not paid and received the same service as I paid $20k for. I feel I am owed a refund, if not in full at least a partial refund - NOTHING was done but 2 letters.

 

[Abuthemagician]

Thanks everyone! I have some phonecalls to make now.