If you're one of the millions of Americans who regret their timeshare purchase, you may be wondering if there's any way to get rid of it. While timeshare exit companies claim to offer a solution, it's important to be aware of the potential risks before making any decisions. Timeshare exit companies typically charge high fees - sometimes upwards of $10,000 - and there's no guarantee they'll be able to cancel your timeshare successfully. In some cases, these companies may even make the situation worse by leaving you with additional fees or debt.
If you're considering using a timeshare exit company, be sure to do your research and understand the potential risks before using one of the 7 "best timeshare exit companies."
Ratings and Reviews of Timeshare Exit Companies
There are "reviews companies" out there, such as:
The websites mentioned above have timeshare exit companies rated by money back guarantee, escrow option, better business bureau, and other factors. At one point, these "review companies" rated Timeshare Exit Team, Timeshare Termination, Resort Release, Resort Exit Team, Resort Legal Team, Redemption and Release, and American Consumer Credit ranked as the best timeshare exit company. All of them are no longer in business.
These timeshare exit review companies fail to tell you that timeshare developers will not negotiate with a timeshare exit company unless an attorney is representing the client.
Many people are unaware The Federal Trade Commission prohibits any company from making "Guarantees" or "Promises" to Cancel or Settle a debt.
We'll look into these 7 timeshare exit companies and help you conclude if they have an ethical and legal approach to help you cancel your timeshare legally, ethically, and safe.
1. Wesley Financial Group
Wesley Financial Group is not a law firm, does not employ attorneys, and advises people from seeking a timeshare attorney. As a timeshare exit company they act as a legal representative by writing letters on behalf of the client.
Wesley Financial Group offers to write letters on behalf of their client and instruct the client to mail letters to the timeshare's management company, not communicate with the developer, and not make payments to the timeshare resort.
A timeshare company, Diamond Resorts International, has sued Wesley Financial Group for tortious interference. The complaint reads, "Wesley Financial Group is a completely unregulated and unrestrained business whose sole purpose is to cancel another business's valid and enforceable contracts. Wesley has made a business of and monetized the tort of tortious interference with contract. Wesley targets and disrupts valid contracts between timeshare developers, like Diamond Resorts International, and their customers. Wesley Group charges exorbitant up-front fees.
Although they offer a 100 money back guarantee, many people have filed complaints with the better business bureau for not receiving a full refund and lack of communication.
Read The Negative BBB Customer Review:
2. Centerstone Group
There's not much out there on Centerstone Group. The timeshare exit company has been in business for 2 years yet claims to have 30 years of experience. Looking at their website, they discourage people from hiring a timeshare attorney. Therefore they are not lawyers and do not employ attorneys.
They claim to have "pressure campaigns" against the timeshare resort as they claim a timeshare attorney cannot. Many timeshare owners do not realize that the average timeshare resort spends 10 million dollars a year on legal counsel to deal with legal matters, especially unregulated timeshare exit companies that "guarantee" results.
Their "Pressure Campaigns" A series of communications, social media/review site campaigns, press outreach, and legal complaints (as needed) are utilized to highlight timeshare companies' shortcomings and apply pressure for you to be released so that you may alter their sales practices.
Timeshare resorts ignore negative publicity and derogatory information from timeshare owners. Therefore the pressure campaign is not a threat. Their "Timeshare Exit Transfer to a receiver" must be approved by the developer in which the timeshare company has the right to refuse the transfer under their contractual guidelines with the timeshare owner.
The positive reviews on the BBB seem too perfect as if someone wrote the review for them. The BBB has concealed one complaint and one negative review from the public.
3. Seaside Consultants Group
Their home page reads, "Timeshare Cancellation Done Right-Real Attorneys. Credit Protection. Real Results."
Let's clarify something. No one can protect your credit, not even an attorney. Someone can help you dispute a negative remark on your credit but not "protect your credit."
We see this as a red flag when any timeshare exit company claims to protect your credit! Anyone can have positive reviews. The negative reviews tell all. When a negative review reads that money is not reimbursed, and the person cannot speak to the attorney, that raises concerns. If Seaside Consultants Group claims to have an "escrow service," why did the client below pay over $7,000 before rendered services?
This review is from the BBB website:
4. Timeshare Compliance
This timeshare exit company also claims to have escrow services. Yet, many complaints (21 at the time of this article) claim that timeshare compliance is not refunding their money when they have a money back guarantee policy.
Diamond Resorts International sued Timeshare Compliance for similar practices as Wesley Financial Group in our research. Diamond's lawsuit against Timeshare Compliance and Resort Advisory Group for deceptive advertising, tortious interference with contractual duties, and civil conspiracy will continue. Diamond's complaint claims that Timeshare Compliance and Resort Advisory Group offers services to assist timeshare owners in terminating their agreements.
According to the complaint, these businesses entice timeshare owners into paying substantial upfront fees — sometimes as much as $118,000 — but supply no genuine legal service. In truth, they mislead timeshare owners into breaching their timeshare contracts, which results in foreclosure and a negative impact on the owners' credit history.
The complaint alleges that Timeshare Compliance and Resort Advisory Group's advertisements make numerous false representations, including providing a legal method to terminate timeshare obligations. Clients would receive a "full refund" if the service did not result in their timeshare contract canceled.
Read BBB complaint:
5. Resolution Timeshare Cancellation
This timeshare exit company has been in business since 2019. There's not much out there on this company other than some positive reviews. They have on their website "our attorney," Mr. Myron Lasser.
Mr. Lasser is an attorney that focuses on the following areas of law:
Personal injury
Medical malpractice
Automobile accidents
Slip and fall and negligence
General civil and trial practice in all state and federal courts
Appeals
The areas of law mentioned above have nothing to do with consumer protection or timeshare law.
The company has a disclaimer on its website that reads, "While Mr. Lasser serves on the Advisory Board as Outside Counsel to Resolution Timeshare Cancelation, he does not represent individual clients of Resolution."
The statement indicates that although Mr. Myron Lasser serves as legal counsel for the company, he does not provide legal services for the company's clients. What is interesting is the relationship between the CEO of the company (Stephen Lasser) and Mr. Myron Lasser. Not sure if the last names have a direct relationship.
We conclude that this is another timeshare exit company claiming to have attorneys. Still, the client will not have an attorney-client relationship as Mr. Myron Lasser does not provide legal services for the company's clients.
When looking to cancel a timeshare, always establish an attorney-client relationship for legal representation.
6. Timeshare Specialists
Timeshare Specialists is a transfer company, not a timeshare exit company. The company claims to have a guaranteed transfer program as their "timeshare exit process." When transferring a timeshare out of your name, the timeshare resort must approve the new member in which they reserve the right to refuse the transfer.
Timeshare Specialists apparently do not charge fees unless the timeshare transfers out of the owner's name. But we found an interesting review where a client claims that Timeshare Specialists conveyed they had attorneys that would help her with the timeshare exit process.
Read the negative review listed on the BBB below:
7. Sapphire Timeshare Cancellation
Sapphire is a timeshare exit company offering the following:
Protection from Harassment
Complete Contract Cancellation
Immediate Cancellation of Payments
Cancellation of Maintenance Fees
Mortgage Balance Cancellation
Credit Protection Available
There are two red flags—immediate Cancellation of Payments and Credit Protection.
As a reminder, you cannot advise a person to default on a contractual obligation. That is considered tortious interference, which is why the resort sues many timeshare exit companies. Credit protection doesn't exist. You can "dispute" negative remarks on your credit, but no one, including an attorney, can protect your credit.
Sapphire has "their attorney," but their attorney serves as outside counsel. Mr. Raymond Joseph Lucas is a licensed attorney focusing on:
Corporate law
Credit & Debt
Personal Injury
Civil Rights
General Practice
Family Law
Estate Planning
Trademark
Dispute Resolution
Criminal Defense
The disclaimer on the company's website reads, "The Lucas Law Firm represents the entity, Sapphire Timeshare Cancelation. It does not represent individual Sapphire clients."
Therefore you are not hiring their attorney, and their attorney will not represent you if you're looking to cancel your contract.
Here's a negative review on the BBB:
Conclusion to These Reviews
Companies offering timeshare exit services lure people with false guarantees and false impressions that they use lawyers for timeshare exit.
When searching for timeshare cancellation services reviews, always read what the negative reviews say. If a pattern of contracts not being canceled appears or monies not refunded, that is always the actual pattern of their business practices.
What Do Timeshare Exit Companies Do?
Timeshare exit companies "specialize" in helping timeshare owners cancel their contracts. They typically do this by writing letters to the timeshare developer on the owner's behalf, requesting a contract cancellation. However, the timeshare's management company will ignore these letters and will only negotiate with a licensed timeshare attorney.
As such, timeshare exit companies may not be the most effective way to cancel a timeshare contract.
3 Things You Should Look for in a Timeshare Exit Company?
Suppose you would like to hire a timeshare exit company. There are 3 things to look for:
Exit Companies must have timeshare exit attorneys.
Having a timeshare exit attorney representing their clients to establish an attorney-client relationship, not serve as general counsel in which the attorney works for the exit company, not the client.
You must sign a contract with the attorney, not the timeshare exit company.
When you're ready to cancel your timeshare, it's essential to understand that you will be signing a contract with an attorney, not the timeshare exit company. Establishing an attorney-client relationship is crucial because the attorney will be providing the legal services required to cancel your timeshare.
It's important to read any contract carefully you're asked to sign by the exit company and make sure the attorney is signing the contract to obligate them to render legal services. Once you've signed a contract with an attorney, you can be confident that they will provide the legal services required to cancel your timeshare contract.
In the event the exit company goes out of business, gets shut down, or sued by the timeshare resort, you'll have legal counsel representing you at the end.
You Must Make Payment Directly To The Attorney, Not the Exit Company
Paying an attorney requires the attorney to have a fiduciary duty. It is the attorney's obligation and the client's right to assure that the timeshare owners find a way to communicate with their lawyers freely and openly. The privilege protects confidential communication between a lawyer and their client regarding legal representation that the client does not want others to know about, including the timeshare relief company.
Are There Legitimate Timeshare Exit Companies Offering Timeshare Cancellation?
There are many companies that will offer to help you cancel your timeshare contract. However, you should be aware that there are many timeshare exit scams. Timeshare owners have been victims of exit scams. In some cases, the timeshare exit company will take the owner's money and then do nothing to help them cancel their timeshare contract. In other cases, the timeshare exit company will cancel the contract. However, the owner will still be responsible for paying any fees owed to the resort that became delinquent during the process.
How to Avoid Timeshare Exit Scams in the Timeshare Exit Industry?
There are many exit companies out there. To avoid a scam, make sure the exit companies do not have negative reviews such as:
Failing to honor their full refund policy
Failure to communicate with the client often
Failure to produce written communication between the timeshare resort and the timeshare exit company
Not having timeshare attorneys representing their clients
Not allowing the client to speak to their timeshare attorney
Having a lawsuit filed for tortious interference
Is There a Legitimate Way to Get Out of a Timeshare Contract?
Yes, there are timeshare attorneys who can help you get out of your timeshare contract. Having legal counsel is the legal and ethical way to cancel your contract. There are cancellation companies that claim to be able to get you out of your contract, but they are not timeshare attorneys. These companies often use illegal and unethical tactics to try to cancel your contract. If you're thinking about cancelling your contract, the best thing to do is speak with a timeshare attorney. They will be able to review your contract and advise you on the best way to cancel your timeshare contract.
Want to Learn Exit Strategies? For a Free Consultation Call 866-519-7368
Do I Hire an Attorney or Timeshare Cancellation Company?
If you're considering canceling your timeshare, you may wonder whether it's better to use timeshare lawyer services or a cancellation company.
While cancellation companies can often provide basic assistance with procedures for exiting timeshare contracts by writing letters on your behalf, they will not be able to represent you in court if your timeshare resort escalates the dispute. On the other hand, you will need timeshare attorneys in cases where a consumer dispute appears to be at a dead-end, and legal counsel is required to resolve the timeshare dispute either through settlement and negotiation or by litigating the issue in court.
Ultimately, the decision of whether to hire an attorney or timeshare relief company depends on your specific situation. If you are considering canceling your timeshare agreement, it's important to seek the advice of a qualified professional to learn more about your legal options.
How to Get Out of a Timeshare On Your Own
If you have a timeshare that you no longer want, there are a few ways to get out of the contract. Timeshare agreements have sections dealing with "cancellations," "termination," or "severability." Most contracts have a rescission period where you can cancel the contract, but this is usually only 3 to 15 calendar days after you sign it, depending on where you purchased the timeshare. You may need to consult a lawyer to help you understand any loopholes in the contract. However, keep in mind that many of the options for getting out of a contract will cost you.
Read Your Contract
Many timeshare agreements have a cancellation period which requires the request to be made in writing via certified mail. It will be tough to cancel your timeshare agreement if you are out of your rescission period. As long as you pay off your loan, your timeshare resort may consider releasing timeshare members of their obligations. If there's an early termination penalty, it may be worth paying the penalty to eliminate a lifetime of maintenance fees.
Rent it Out to Friends and Family Members
Some timeshare agreements prohibit you from renting out your timeshare. However, if you are allowed to rent it, approach a friend or relative to use the timeshare by paying your maintenance fees. You can always advertise your timeshare on social media to attract others to rent your week.
Ask the Resort to Take Back Your Timeshare
Asking your resort to take back your timeshare will be without any financial reimbursement. The resort owns the tangible property, and you own the right to use it. Therefore the timeshare resort will agree to allow you to relinquish your ownership rights without any monies to you.
Timeshare Resale
Selling your timeshare is extremely difficult. With many timeshare resale scams, you want to promote your timeshare for sale using social media or ask your friends and family to list your timeshare for sale on their page and incentivize them with a commission. There are timeshare resale companies that are willing to work on commission. Very few, but they are out there.
Give Your Timeshare Away to a Friend or Relative
If you plan to give your timeshare away, make sure the person is aware of the following:
Timeshares are not tangible property
Timeshares are lifetime memberships
Maintenance fees have an annual increase of as much as 10% a year
Many timeshare agreements have a perpetuity clause allowing the timeshare members' heirs and successors to inherit the financial obligations
If the individual is willing to accept these liabilities, you have found a way out!
Default on your Loan or Maintenance to Force the Timeshare Resort to Cancel Timeshare Contract
Defaulting on a timeshare agreement may force the resort to take legal action. Having a loan balance can lead to a lawsuit asking for the loan balance to be paid. Having a judgment can allow the resort to collect payment by garnishing your wages or putting a lien on the individual's tangible property. You are better off offering your timeshare resort an early termination penalty for releasing you out of your contract.
Can I File for Bankruptcy When I Still Own the Timeshare?
Before the lender forecloses, filing for bankruptcy may be more difficult than after a foreclosure has occurred, but you'll have additional alternatives. Your options will be determined by whether you want to keep or surrender your timeshare, the type of bankruptcy you choose, the amount of equity in it, and your state's exemption laws (the rules that say what type of property you can keep).
Keeping the Timeshare in Chapter 7 Bankruptcy
If the value of your timeshare is equal to or less than the amount, you owe in Chapter 7 bankruptcy, selling it will not benefit your creditors. You can keep it as long as you can continue to make payments on it.
If there is value, the bankruptcy trustee—the person in charge of your case who is responsible for distributing assets to creditors—will want to sell it for the benefit of your creditors.
Keeping the Timeshare in Chapter 13 Bankruptcy
The most important advantage of Chapter 13 bankruptcy is that you can keep all of your stuff. The challenge, though, is demonstrating that you have enough money to pay the monthly loan payment and maintenance fees in addition to your required monthly repayment plan payment. If you can't cover it all, either surrender the timeshare or let something else go.
Hire a Timeshare Attorney
In order to avoid timeshare exit scams, you are better off hiring a timeshare attorney. Research the attorney to make sure timeshare law is their area of focus. Hiring a general practice attorney will not yield results as timeshare companies realize many timeshare exit companies outsource legal counsel to write letters on behalf of their clients but fail to establish an attorney-client relationship. Having the best timeshare attorney will allow communication between your timeshare and your attorney to take place, allowing you to get out of a timeshare legally.
Call 866-519-7368 Today!
Comments