When you own a timeshare, it can be a great way to have the ability to take an annual vacation. However, it can also be a very expensive commitment that leaves you with little financial freedom. Many people find themselves in this position, and a growing number of them are turning to timeshare exit companies for help getting out of their timeshares.
How to Avoid a Timeshare Exit Scam
There are some things that you should keep in mind when looking for an exit company. The first is to do your research and read reviews of different companies that you might be interested in. You can do this by searching for them on Google or using online review sites such as Best Company and Trustpilot.
Another important thing to look for is an escrow service provider. Escrow services are useful when transactions involve a lot of money, and it can help to reduce the chances of timeshare exit scams.
You should always check the escrow company’s email address. This will ensure that they are legitimate and not trying to swindle you out of your money. It’s also a good idea to ask about their background and the companies they work with.
It’s also a good idea to check the escrow company’s payment policies. Some will require a minimum amount of payment before they can start working on your timeshare. It’s also a good idea for them to give you a refund policy when you’re not satisfied with the work they have done.
When deciding on an exit company, make sure to read reviews and testimonials from other clients. It is crucial to choose an exit company that has a solid track record and is backed by a strong reputation in the industry.
Some timeshare exit companies offer a 100% money-back guarantee. If they do, it’s a good idea to read about their past client experiences and see if the company is in good standing with the Better Business Bureau.
There have been a few timeshare exit companies that have been banned from the industry for deceptive practices. One company, Montgomery & Newcomb, was ordered to stop advising Wyndham owners to violate their timeshare contracts by ending payments and transferring their interests in the property.
The court order against this firm is a victory for the timeshare community and for the consumers that own timeshares. The order permanently bars the law firm from assisting timeshare owners in the violation of their timeshare contracts or in the sale, transfer or termination of their interests in their timeshares.
Often times, timeshare owners have the best opportunity to get out of their timeshares by working directly with the company they purchased the timeshare from. This will allow them to negotiate with their own company and possibly save some fees on the process.
You can also try donating your timeshare instead of selling it, as this will help you to free up some cash. However, if you are going to donate your timeshare, you should be sure that it is in good condition and has not been missed on maintenance fees.
