The best way to avoid timeshare scams is to contact experts in the field. Timeshare is a complicated subject, and it is important to get the right advice. Whether you’re getting out of a timeshare that you haven’t been paying, trying to sell your unit, or getting out of a loan, you need to know that you’re on the right track.
There are a number of companies that offer timeshare relief services. Some of these companies claim to be able to extract you from your timeshare contract, while others promise to sell your timeshare for cash. But you need to make sure that you are dealing with a legitimate company before putting your money down.
One company, Timeshare Relief, was established by David and Cindy MacMillan in 2004. Their business is dedicated to helping clients who want to sell their timeshare weeks. These companies are also known to charge thousands of dollars to get your timeshare out of your hands. They may attempt to transfer your ownership to a shell company or to a third party.
Another timeshare relief company is the Coalition for Responsible Exit. This group, which is part of the ARDA (American Resort Development Association) movement, works to protect your rights as a timeshare owner.
The most common reason why people need timeshare relief is because they can no longer afford to pay for their maintenance fees. If you aren’t able to pay your dues, your timeshare company can turn over your unpaid balances to collection agencies. That can leave you with a negative mark on your credit report.
The BBB noted that southwest Missouri is home to several of these timeshare exit businesses. The Better Business Bureau has logged 350 consumer complaints against ten Springfield area timeshare exit companies.
Timeshare relief companies aren’t necessarily regulated. In some cases, they subcontract out their work to law firms. Many are also sole proprietors, meaning that you’ll be dealing with a single person rather than an entire team. Also, timeshare cancellation is a tricky business, so you’ll need individualized attention.
As a result of the current economic climate, many people have had to limit their travels. The global pandemic has also limited the number of Americans who have the means to travel, so they’ve had to take other steps to minimize their expenses.
Timeshare relief financing is an option that can help you get out of a timeshare contract without requiring you to pay a large lump sum. Instead, you’ll spread your payment over a set period of time. You’ll need to check with your resort or developer to find out if they have a program that can help you.
While you are looking for a timeshare relief company, you’ll also need to check if they are a member of the American Resort Development Association, which represents many of the top resorts in the industry. This organization also works to advocate for legislation that will keep your transaction safe.