Upfront fee cancellation company Timeshare Termination Team closes down

[KarenP]

I agree with @dioxide. People buy developer for several reasons:

1) Confused by a complicated product. Lack of awareness. Little research on more cost effective alternatives. Painful but won't bankrupt
2) Fear of getting scammed. Fueled by scams by the timeshare exit teams and on Ebay. At least you know your product is legit from developer.
3) Professionals with plenty of money, Don't have time to look for deals. No desire to try.
4) Cannot afford. Gullible. Should not be considering a timeshare.

Some developers are differentiating their product with access to elite, more resort booking options and flexibility. For example, MVC with non-enrolled resale, HGVC lack of access to elite, Vistana voluntary, Disney Riviera. Some people value those choices just as they would a new car versus a used car.

When I met with some elder law attorneys, I was shocked to learn they had purchased Marriott points from Marriott in large enough amounts to keep them in vacation mode for years. They were so happy with their vacations, I never said anything to them about it.

 

[carl2591]

god the timeshare "exit" guys pop up on facebook all the fricken time.. If they shut down one there are 12 to take its place. it a shame how many timeshare owners are so stupid and loose more and more money. they would be better off to just stop paying the MF and take the credit hit.. you can go in your credit files and put exclamation in to off set it.. timeshare is a bastard debt in many minds.

 

[dioxide45]

god the timeshare "exit" guys pop up on facebook all the fricken time.. If they shut down one there are 12 to take its place. it a shame how many timeshare owners are so stupid and loose more and more money. they would be better off to just stop paying the MF and take the credit hit.. you can go in your credit files and put exclamation in to off set it.. timeshare is a bastard debt in many minds.

They advertised on YouTube quite a bit too. Mostly late in the year and into the next. Maintenance fee season has many people wanting out.

 

[heathpack]

But for some reason, they seem to sell at a premium on resale.

I think it’s because the dollar amount is smaller to purchase, meaning you can collect more and more points over time or you can dip your toe in the water to see if you like the product without laying out $45,000. When you sell or leave your points to your kids, you can parcel off smaller contracts to each. For example if you own 225 points, owning three 75 point contracts is attractive if you have 3 kids or think you might want to downsize in the future without selling everything.

On the sellers side, the MF on a small points contract isn’t as much of a burden. Meaning they may not be in too much of a hurry to sell.

Im a huge fan of small points contracts and would rather own ten 25 point contracts than one 250 point contract for sure.

 

[kanerf]

At some point hopefully Congress will act to shut down all of these ghouls. Many State AGs already have.

 

[dioxide45]

At some point hopefully Congress will act to shut down all of these ghouls. Many State AGs already have.

Is it a federal issue? Timeshare laws vary by state, why would timeshare exit be any different. More states need to go after these outfits.

 

[RX8]

Companies that scam shouldn’t be allowed to file bankruptcy.

 

[cherima]

Timeshare Termination Team | Better Business Bureau® Profile

This organization is not BBB accredited. Timeshare Cancellation in Greenwood Village, CO. See BBB rating, reviews, complaints, & more.

www.bbb.org

rumors have been flying for the past week that this company closed up shop unannounced leaving employees, and timeshare owners/victims hanging out to dry! Website generates a 404 error.

Guess that money back guarantee isnt all it was cracked up to be. never, ever pay large upfront fees to do anything with your timeshare.

Hi! I am brand new to TUG and truly need help with exiting our timeshare at Vidanta's Grand Luxe Residence Club Nueva Vallarta. My husband and I were contacted by letter from a representative from Fastest Exit, LLC in Scottsdale, AZ. We knew we were seriously misled about 6 months after purchase (still our bad, I know) but weren't sure what to do short of hiring an attorney.
Fastest Exit presents itself as a licensed organization that advocates on behalf of consumers that let us know in this letter that
they have reason to suspect that Vidanta has gravely misrepresented what we actually purchased. They also state that their company has numerous clients that have also purchased at Vidanta in the recent past and have a repeated pattern of complaints. Fastest Exit goes on to say that their organization works with Mexican attorneys and paralegals who have experience in Mexican contract law, especially with regard toward vacation memberships and timeshares.
Curiosity led my husband to contact the representative. My husband and I set up a call with a rep who explained that their company will not only cancel our timeshare but can also get our entire purchase price refunded to us (typically within 120 days from the date they file our claim). Their fee is 30% of the amount we receive back and that all our legal fees except $2900 will also be refunded as Vidanta is legally required to pay these. The rest of our legal fees add up to quite a large amount as our investment is quite large. Fastest exit will deal with all correspondence from Vidanta after we file and will handle the 100 days or so of harrassment directed at us from Vidanta as we will forward any and all correspondence from them to our Fastest Exit rep.
Of course, this sounds too good to be true. We see the many RED FLAGS here. We have been online to research the company and that brings me here. Does anyone here on TUG have any experience with Fastest Exit? Any information will be most appreciated. Thank you!

 

[TUGBrian]

Of course, this sounds too good to be true. We see the many RED FLAGS here.

you already have the answer =)

 

[Ty1on]

Hi! I am brand new to TUG and truly need help with exiting our timeshare at Vidanta's Grand Luxe Residence Club Nueva Vallarta. My husband and I were contacted by letter from a representative from Fastest Exit, LLC in Scottsdale, AZ. We knew we were seriously misled about 6 months after purchase (still our bad, I know) but weren't sure what to do short of hiring an attorney.
Fastest Exit presents itself as a licensed organization that advocates on behalf of consumers that let us know in this letter that
they have reason to suspect that Vidanta has gravely misrepresented what we actually purchased. They also state that their company has numerous clients that have also purchased at Vidanta in the recent past and have a repeated pattern of complaints. Fastest Exit goes on to say that their organization works with Mexican attorneys and paralegals who have experience in Mexican contract law, especially with regard toward vacation memberships and timeshares.
Curiosity led my husband to contact the representative. My husband and I set up a call with a rep who explained that their company will not only cancel our timeshare but can also get our entire purchase price refunded to us (typically within 120 days from the date they file our claim). Their fee is 30% of the amount we receive back and that all our legal fees except $2900 will also be refunded as Vidanta is legally required to pay these. The rest of our legal fees add up to quite a large amount as our investment is quite large. Fastest exit will deal with all correspondence from Vidanta after we file and will handle the 100 days or so of harrassment directed at us from Vidanta as we will forward any and all correspondence from them to our Fastest Exit rep.
Of course, this sounds too good to be true. We see the many RED FLAGS here. We have been online to research the company and that brings me here. Does anyone here on TUG have any experience with Fastest Exit? Any information will be most appreciated. Thank you!

"Vidanta misrepresented themselves to you. Now we at Fastest Exit can....." ....then go on to egregiously, frudulently misrepresent themselves. You'll never see Fastest Exit again once you send them the "legal fees shortfall" upfront. I mean you will hear from them again, just posing as a different company going after Fastest Exit.

Grand Luxxe isn't an awful thing to own. I assume you're still paying that original loan, though.

 

[cherima]

you already have the answer =)

You are

"Vidanta misrepresented themselves to you. Now we at Fastest Exit can....." ....then go on to egregiously, frudulently misrepresent themselves. You'll never see Fastest Exit again once you send them the "legal fees shortfall" upfront. I mean you will hear from them again, just posing as a different company going after Fastest Exit.

Grand Luxxe isn't an awful thing to own. I assume you're still paying that original loan, though.

I know you are both right - there was a little part of me that wanted to be wrong

 

[TUGBrian]

also its not a coincidence they say the program lasts 120 days or longer, and usually exceeds the time limit to which you can file a dispute for a charge on a credit card....