Timeshare exit is a popular industry term for companies that help owners get out of their timeshares. It is a lucrative and growing business, especially in the resort communities of Florida, California and Mexico. The problem is that not all companies are legitimate.
A reputable company will have a strong track record and extensive experience in working with timeshare cancellations. This should be reflected in their reputation and reviews on sites like the Better Business Bureau and Trustpilot.
Some of the top ranked timeshare exit companies are Timeshare Legal, Wesley Financial Group and Vacation Cancel Experts (VCE). These companies have worked with thousands of clients who have successfully canceled their timeshares and saved them significant amounts of money in maintenance fees, mortgage debt and other costs associated with timeshare ownership.
The best timeshare exit companies can also save their clients thousands of dollars in credit card interest rates and other debt repayment fees. They will also make sure that the process of getting out of a timeshare does not negatively impact the client’s credit score and financial future.
These companies offer a 100% money-back guarantee to their clients. This guarantee is crucial because it gives them an opportunity to recoup their investment in case they cannot deliver on the results promised.
If a timeshare exit company does not offer this guarantee, then it is probably a scam.
A money-back guarantee is a good way for a timeshare exit company to show that they are a trustworthy and legitimate business. However, this guarantee should be in writing. If you’re unsure about the company, ask for a written contract before they begin work on your account.
Most exit companies will have a free consultation before accepting you as a client. This is a great way for them to learn more about your situation and decide if they are the right fit for you.
The timeshare exit company will be able to answer any questions you may have about the process and what it will cost. The time it takes to complete your exit depends on how much paperwork you have and how responsive the timeshare developer is. Most results will come within 8-18 months, but it can take up to three years in some cases.
Timeshare Exit Company Scams
The Consumer Reports and other organizations have reported that there are a number of timeshare exit companies that promise consumers they can get them out of their contracts but don’t deliver on that promise. Some of these supposedly reputable companies charge high up-front fees, then collect the money without offering anything in return.
One timeshare owner, Solomon, told Consumer Reports that he paid $11,000 to an exit company who promised him he would be out of his timeshare in 18 months. But after a year, Solomon still had not been out of his contract.
Many consumers are hesitant to use an exit company because of their high upfront fees and lack of guarantees. But a reputable exit company will be transparent and offer a money-back guarantee.