How To Get Out Of A Timeshare?

[james.hendrickson]

Hi Guys,

I had someone reach out to me with the following:

My husband and I bought a timeshare at OrangeLake in Kissemee FL 15+ years ago. My husband recently passed away, and he was the breadwinner in our home. I have been retired on SS for three years, and now that is my only income. I have received several statements requesting payment of annual taxes,etc. I do not have the income now to pay them and pay my bills. Each month they attach a large late fee. I don't know how to get out from under this timeshare. I will gladly sign it over to them just to get rid of the bill. I will never use it again any way. I have hesitated calling them, because I need advice on how to confront the issue with them. If someone there can help advise me, I will appreciate it.
Mona

I have never bought timeshares, mostly because of their terrible reputation, so I don't have a great answer for Mona. That said, I wanted to put it out to the community here as there are probably a lot of people in her situation.

Thoughts? What can she do to get out of her timeshare?

[TexasHusker]

Hi Guys,

I had someone reach out to me with the following:



I have never bought timeshares, mostly because of their terrible reputation, so I don't have a great answer for Mona. That said, I wanted to put it out to the community here as there are probably a lot of people in her situation.

Thoughts? What can she do to get out of her timeshare?

Google "get me out of my timeshare". There are lots of companies that do these for a fee.

[msomnipotent]

Google "get me out of my timeshare". There are lots of companies that do these for a fee.

Those companies just take your money and do nothing.

You can either gift your timeshare to some unsuspecting fool, try selling it on ebay for a fraction of a fraction of what you paid, or tell a sob story to a timeshare rep in the hopes that they will buy it from you and then hire a lawyer when they put their name on the titles and not pay you. Or you can just stop paying the fees and have a blemish on your credit report.

[TexasHusker]

Those companies just take your money and do nothing.

You can either gift your timeshare to some unsuspecting fool, try selling it on ebay for a fraction of a fraction of what you paid, or tell a sob story to a timeshare rep in the hopes that they will buy it from you and then hire a lawyer when they put their name on the titles and not pay you. Or you can just stop paying the fees and have a blemish on your credit report.

Actually I know several folk who have engaged such companies with success.

For all that is written about these schemes and for how many decades, I am amazed that there are still folk willing to buy them, and then several years later the clue phone starts ringing.

[rdevansii]

I listen to Dave Ramsey quite often and he endorses TimeShare Exit Team. He is really reputable to endorse this type of company. He also states that there is a fee, but they will work to get you out. By looking at their site, it looks like they are highly recommended.

I used to sell Timeshares as one of my first jobs several years ago and I learned a lot of the difference between what a timeshare really is versus Vacation ownership. Most timeshares are vacation ownerships where you truly don't own anything real, just points which go up in value. If I can shed any advice, its never a bad thing to pay for a service that DOES know what they are doing; And dealing with timeshares, you may want to definitely work through a company to help.

Hope this helps!

good luck!

[msomnipotent]

Actually I know several folk who have engaged such companies with success.

For all that is written about these schemes and for how many decades, I am amazed that there are still folk willing to buy them, and then several years later the clue phone starts ringing.

I wish we had that luck. We tried two different companies and nothing ever came of it accept being put on a calling list of suckers. We haven't had a timeshare for a few years and we still get calls and letters at least once a month. It never ends.

[rennigade]

Just stop paying them. They arent going to do anything besides send it to collections. If that lady really cant afford it then she has no other option than to ignore them. Yeah it will hurt her credit score...big deal.

Or she can lawyer up and get out of it...thats what my inlaws did. That costs money though.