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Frequently Asked Questions
When Hiring A Timeshare Attorney Or A Timeshare Exit Company
How Much Do Lawyers Charge To Get Out Of A Timeshare?
Timeshare Lawyers have several factors that go into their legal fees. Is your timeshare paid off? Are you current or in arrears on your financial obligations to the timeshare developer? Who is your timeshare developer?
What is your financial obligation to the timeshare developer in the next 15 to 20 years? Are you interested in suing the timeshare developer? Are you interested in settling your loan balance?
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All of these factors will predicate legal fees from a timeshare attorney.
Have Questions To Cancel Timeshare? Call: (866) 519-7368
Can I Walk Away or Stop Making Payments To My Timeshare Developer Under Contract?
We do not recommend anyone to stop making payments. There are always Legal & Financial Consequences. Your credit will be significantly affected. Collections agencies will be assigned to collect the debt. Timeshare Developers are known to sue the individual for any loan balances under contract and potentially any Maintenace Fees they would have earned under contract.
99% of Timeshare Contracts carry a "lifetime" Membership obligation of Maintenance Fees. Even though your Timeshare loan may be paid in full, you are still under contract to pay Maintenance Fees as long as you own the Timeshare. A breach of contract can be seen as financial damages to the Timeshare Developer for lost revenue which may force legal action.
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Can Timeshare Exit Companies or Attorneys "Guarantee" my Timeshare Contract Being Canceled?
The Federal Trade Commission prohibits any company from making "Guarantees" or "Promises" to Cancel or Settle a debt. Companies charging upfront fees to settle or cancel a debt from you before they have settled any of your obligations — is a practice prohibited under the FTC’s Telemarketing Sales Rule (TSR) for companies engaged in telemarketing these services.
Only Attorneys (in this case, a Timeshare Attorney or a Consumer Protection Attorney) as legal counsel are legally and ethically allowed to accept payment for legal services prior to another business’s valid and enforceable contracts being negotiated or canceled. If you would like to know how to legally get out of a Timeshare contract without paying upfront fees, please contact us for a FREE Consultation.
Need A Free Consultation? We Do Not Charge Up Front Fees
Call: (866) 519-7368
Do Timeshare Exit Companies
Employ Attorneys?
All of these Timeshare Exit Companies claim to have attorneys on staff or outsource attorneys to do the work on behalf of the client. If you are paying a Timeshare Exit Company and you're signing a contract with a Timeshare Exit Company, you are NOT hiring an attorney.
For an Attorney-Client relationship to be established, payment must be made directly to the attorney, and the attorney must sign the contract. Do not be manipulated to believe that they have attorneys that will be part of the case when your relationship is established with the Timeshare Exit Company.
Should they have an attorney, and the attorney ends the relationship with the Timeshare Exit Company, that attorney does not have a fiduciary obligation to you, the client. Always ask to speak to an attorney, pay the attorney, and sign a contract with the attorney. If the Timeshare Exit Company does have an attorney, your request will be granted.
Why Hire A Timeshare Exit Company
If You Can Work With An Attorney?
Call: (866) 519-7368
Are Timeshare Exit Companies Legit?
Timeshare Exit Companies are not legitimate and are not safe. If they advise you to stop paying your maintenance fees or mortgage, take it as a WARNING. Contractually, your loan payments and maintenance fees are legally binding. If you stop paying, your right to use the property will be canceled, and your fractional ownership will be foreclosed, and it will harm your credit.
When you read the fine print of one of these Timeshare Exit Companies’ contracts, your membership cancelation with your Timeshare Developer due to non-payment of loan payments or maintenance fees is considered successful cancellation. Meaning, that the Timeshare Exit Company you used received a large upfront fee, "has rendered services," and you are stuck with poor credit and foreclosure on your record.
For these reasons mentioned above, we highly recommend hiring a Timeshare Attorney to establish an Attorney-Client Relationship. If you ask yourself how to legally cancel a Timeshare contract? We recommend seeking legal counsel, NOT hire a Timeshare Exit Company.
Please Do Not Risk Losing Money To A Timeshare Exit Scam. To Work Directly With An Attorney
Call: (866) 519-7368
Do Timeshare Exit Review Websites Provide Sincere Opinions on Timeshare Exit Companies?
These Timeshare Exit Review websites are biased. Essentially, they generate leads for all participating Timeshare Exit Companies on their website.
They claim that all of those Timeshare Exit Companies work on escrow only. Ironically, every one of those Timeshare Exit Companies will charge you upfront fees for their services. Unless you are paying a Timeshare Attorney and sign a Legal Service Agreement with an Attorney or Law Firm, you're asking for problems down the road.
Here are a few of these Timeshare Exit Review websites you need to avoid:
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timeshareexitcompanies.com
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mytimeshareexitreviews.com
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timesharecancellationreview.com
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The above referenced "review companies" and others out there have rated at one point Resort Release, Timeshare Termination Team, Timeshare Exit Team, and others that have gone out of business, shutdown, and have kept everyone's money.
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Why is my Timeshare NOT Considered "My Property" nor an "Investment" If I Have a Deed To The Property?
Timeshares are considered a Fractional Interest of Ownership with "The Right To Use." The main distinction between a Timeshare Interest and Fractional Ownership of real estate is that with a Timeshare, you buy the right to use the developer's property. Still, you don't own the unit as real estate. In contrast, in Fractional Ownership, you are buying real estate.
A (Timeshare) Fractional share of Interest gives the owners certain privileges, such as a number of days or weeks when they can use the property, but you do not own the property; therefore, your fractional interest of ownership has no opportunity to produce Capital Gains. With Fractional Ownership, your share of the real estate rises as the value of the home rises with the market, just like whole ownership.
Technically, a resort condominium unit that is sold in timeshare increments of one week has 52 total deeds. Yes, you get a deeded to the timeshare, just not for the entire parcel. In other words, buying one week would confer a one-fifty-second (1/52) ownership interest in the unit, while two weeks would give a one-twenty-sixth (1/26) interest and so on.
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Can I Sell My Timeshare
If It's Not Property?
Selling a Timeshare is a challenge. To sell a Timeshare for the amount you paid for the Timeshare is impossible. People pay a premium because individuals are lured in with a gift to participate in a 60-90min tour of the property, which turns out to be a lengthy sales presentation.
Inducement is used to convince the individual to purchase the Timeshare on that visit, thus paying a premium for the Timeshare as a "discounted price." Selling a Timeshare on the resale market allows the person to do their research on the internet for comparables only to find other timeshares selling for as little as One-Hundred Dollars.
The conclusion is you can "try" to sell the Timeshare but expect a significant loss. Many people experience 80% to 90% loss from their purchase price. By the time closing costs, marketing expenses, and commissions are paid, you may be in the negative.
Unwanted Timeshare?
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Can I Go Directly To My Timeshare Developer
and Ask Them To Take Back My Timeshare?
Asking your Timeshare Developer to take back your Timeshare is always an option. Ask yourself this question... What are they taking back? They own the property, the unit, and amenities. You own a Fractional Interest of Property with the "Right to Use" of the property. There's nothing for the developer to take back. The question is, will they allow me to cancel my contract?
Few Timeshare Developers are offering their own "exit solutions." They also come with sizeable Early Termination Fees that have to be paid to release out of your contractual obligations. Some are known to report derogatory marks to the Credit Reporting Agencies. The loan balance must be satisfied, and the account cannot be in arrears to "qualify" for their exit program. Hiring a Timeshare Attorney may be a better option. Timeshare Attorney negotiates your contract to cancel and the majority of the time eliminate any early termination fees.
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