Timeshare Relief

[questions]

We just left a presentation by Timeshare Relief and were hoping beyond hope that we could out of our timeshare which was left to us in a will and now we keep paying and paying for it. soo, we paid $3495 to "get rid" of it. Should we stop payment on this through our credit card company?

And, we too would like to know if Timeshare Relief actually does take this "burden" off our hands? do they really take over ownership completely? Including; taxes, maintenance fees, and assessment bills?

*********************

Jeffrey's Note: For other possible ways to unload your timeshare, visit Timeshare Trap, one of our sister sites.

[Ima saver]

I don't no anything about timeshares, except it is a bad idea. One good point you mentioned, don't leave that burden to anyone in your will. I had never even thought of that!!

[34saving]

I'm not sure yet, but my guess is that this is a scam or at least a really bad deal. Start with a google seach of "Timeshare relief" and go from there. A few initial thoughts: 1) Some charities accept timeshares, have you thought about donating it? 2) Is anybody selling them on eBay . . .for anything? 3) Has everything already be transferred to you? It doesn't seem like you should be able to inherit a $3500 liability . . . 4) If everything isn't in your name have you thought about letting them foreclose?

[Ima saver]

It does seem smarter to donate than to pay for them to take it!

[poundwise]

You can't donate what you don't own.

If they have to pay $ to 'get rid' of it, that indicates that they don't own it free and clear and, hence, cannot donate it.

[jodi]

I just looked it up on the Better Business Bureau's website (bbb.org) - there are two companies by that name. One is in California and the other in Nevada (Las Vegas). One has a satisfactory record (7 complaints in last 36 months), the other is unsatisfactory (13 complaints, some unresolved/no response). Maybe you want to do a little more homework on your own...good luck. Sorry to hear you are stuck with such a burden.

[markio26]

i never heard of this... please let us know how it turns out... very interesting.............

[RJWC]

Originally Posted by questions

We just left a presentation by Timeshare Relief and were hoping beyond hope that we could out of our timeshare which was left to us in a will and now we keep paying and paying for it. soo, we paid $3495 to "get rid" of it. Should we stop payment on this through our credit card company?

And, we too would like to know if Timeshare Relief actually does take this "burden" off our hands? do they really take over ownership completely? Including; taxes, maintenance fees, and assessment bills?

Can you (or others) tell me what you learned about Timeshare Relief? Did you complete the transaction and did it work to your satisfaction? I'm considering using them and another organization that does the same thing. Thanks for any help you or others can offer.

[Great to be Debt Free]

Ah -- I just avoided making hte same mistake. Our timeshare is paid off and basically these companies (TImeshare relief, Time No More, other names also) have you come to a presentation where they talk bad about the burden of timeshares. Then they make an actual offer on yours! But not before they con (my opinion) you into buying into their new "rented" vacation scheme.

This is one way for those folks who are burdened with increasing maintenance fees to unload their property. So yes, the company does take it off your hands (so long as it is up to date on fees), but you basicallly end up buying a different plan. So they get your property and more cash from you, too.

I saw a listing when I did a search for Time No More. There was a lady in FL who evidently sold her timeshare to Time No More for $10. No zeros missing.

I think you have three days to cancel a contract, so if you don't like what I've outlined and it sounds like what you saw, I might just rethink the decision. If, however, it works for you... by all means.

Hope this was helpful.

[LuxLiving]

I like my timeshare! I do understand that the costs associated with owning one are not for everyone. I'd think that they were scamming you. If you can't afford to keep it, I'd also look into either donating it or trying to think of a way to make it pay for you.

Have you looked into renting yours out? Every few years or so something comes up and we aren't able to use ours ourself and so we rent it out.

[Great to be Debt Free]

Yes, DH and I actually have 2 timeshares. The only reason we may want to sell one is because the other one just works out so much better for us. DH grew up in a family that had invested in a timeshare. His Dad was a notorious workaholic, but the fact that the vacation was already paid for meant that every year, they took it and went down to Hilton Head. They all have wonderful memories and last year was the 25th anniversary of their first visit. All the kids and spouses and everyone got together and had a blast!

For some folks, it's great -- for others, it can be underutilized and just another outgoing check. A lot have a lot more flexibility these days with places you can trade for. We've been able to gift some friends and family members with honeymoons and trips they could never have taken otherwise.

But if you want to buy a timeshare, in most cases you'll do a lot better buying resales -- buying from the owner organization costs a lot more and there are only a couple of benefits with some companies for buying direct.

[scrava]

yikes
i have a friend who does the timeshare thing where you can swap
places. I always thought that sounded really cool. Last year they did FL this year AZ

[Ima saver]

I think some of them have really high fees! How much do you all pay? (those of you with timeshares)

[gopher]

Hi, I'm new to the board and just registered. Bouncing around I came across this thread and had to add my thoughts. First off, I used to be one of those high pressure timeshare sales people so I know first hand what a racket it is. I also know that the timeshare companies and sales agents are not thrilled with companies like Timeshare Relief because they expose them for what they truly are. Sharks.

While timeshares are great for those fortunate enough to have the money and flexibility to use them the large majority of people who end up with them do not fall into that category and end up with an albatross around their neck. Trust me, I know.

Check the stats at the The Federal Trade Commission - they are grim. They are virtually impossible to sell or even donate. It's a simple case of supply and demand and when it comes to charity, no one is going to take on the financial strain. They may list it for free but you'll continue to pay all your fees until its sold which could take months or years if ever. So yes you do pay a compay like Timeshare Relief a fee to take your timeshare off your hands but you actually have it taken off your hands. Either way you're going to be paying, the difference is that once you make a payment to these guys it's your last one.

[Scanner]

I always wondered if I could get a great deal on the secondary market for timeshares because of people like the original poster.

My wife and I have thought about Disney Vacation Club but think they are way overpriced. However, if we could get one pennies on the dollar. . .well. . .may consider it.

[disneysteve]

Originally Posted by Scanner

I always wondered if I could get a great deal on the secondary market for timeshares because of people like the original poster.

My wife and I have thought about Disney Vacation Club but think they are way overpriced. However, if we could get one pennies on the dollar. . .well. . .may consider it.

The answer to your first paragraph is absolutely yes. However, the answer to your 2nd paragraph is not a chance.

Most timeshares get resold on the secondary market for pennies on the dollar. I know a few people who have bought their timeshare weeks for about $1,000.

DVC, however, holds it's value very well. In fact, they are probably the only timeshares that consistently appreciate in value.

Keep in mind, however, that even when you buy a resale and get a "great" deal on it, you still need to pay the annual maintenance fee. That's where it becomes worthless as far as I'm concerned. I can find my own accomodations for the same or less than the annual fee on most of the timeshares. We've rented a 2-bedroom, 2-bath condo near Disney for $260/week. Why would I possibly want to buy a place?

[Ima saver]

I hate to say, but one of my friends just bought a time share. I tried to talk her out of it, but couldn't . she did get it from the original owner and it was a pretty cheap price, but I still would not want to be stuck with something i could not give away!!

[rickandcindy23]

Timeshare is something you should always buy on the resale market. You can buy timeshares on many different websites, just do a Google search to find them.

Companies like Timeshare Relief, Vacation Solutions, Time No More, Resort Acquisitions, etc., charge individuals $3,495 to take their timeshares from them. This does not seem like a good business move to me.

If you own timeshare, visit sites like Timeshare Forums and Timeshare Users Group. These sites have thousands of owners who love timeshare and will be happy to help you get the most out of your purchase. There is no need to pay anyone to get out of a timeshare. You can sell it yourself, for about $50. Try sites like RedWeek, My Resort Network and Vacation Time Share. There is also a magazine called Timesharing Today that has great information about timeshare.

The value in timeshare is not in reselling, it is in using the ownership you have and enjoying vacations. The system really works, but it is not as easy as the salesman told you, when you first purchased.

[Kate Ann]

I swear, that rickandcindy from Colorado has issues. I can't say I recall reading anything more ignorant in my life. People are asking how to get out, and she says they need to keep using it and enjoying vacations. People want out because IT DOESN'T WORK for them. Cindy is a TUG and TS4MS nutjob who promotes timesharing, and makes money in timesharing. She even said in Timesharing Today (which she alternately hates or adores based on whether or not they agree with her point of view) that she owns 19 timeshares. She's ridiculous and altogether unreliable.
If you want out, it's understandable. These timeshare folks talk out of both sides of their mouth. A company like Timeshare Relief actually DOES what they promise, and that is to get you out of a bad contract forever. No conning, no disappearing. Just a great company that got started because the owners found out they weren't the only ones who couldn't get rid of timeshare like they'd been told they could.
I hope the timeshare industry either gets heavily legislated with massive punishments for the cons, or just becomes illegal altogether. I'm sick of hearing about how people are ripped off and lied to and I hope the government steps in to protect them.

[DebbieL]

Actually, the advice RickandCindy gave was sound. Why pay someone thousands to unload your timeshare when you can sell it (dirt cheap) on ebay or something similar? That's certainly the route I would go if I had a timeshare I wasn't planning to use.

PS - Some people actually are happy with their timeshares (usually the ones who got them cheap from someone else). If you get one that you will actually make good use of in a popular area, then the maintenance fee should be less than the value of your yearly usage. There is no cut and dried answer for every person. By the way, I don't own nor do I ever plan to own a timeshare, but that doesn't mean they are bad for everyone.