Getting out of a time share
 

Has anyone had any success getting out of a time share? If you have please share how you did it. We keep looking at the time share exit groups that guarantee success, but I would like to hear real success stories from real people.
Thank you!!!

Not positive but I think The Villages has something to help you with that. Ask your realtor

I'm not sure how much my our experience will help you. We had a timeshare at Seamist located in Mashpee on Cape Cod. We were fortunate to have been referred to a Sandwich, Ma attorney who specialized in selling timeshare units. Once per year he would hold an auction. We were willing to take any dollars we could get for it. In the end he sold at auction, we walked away with just under $2000 but that's great considering in 1983 the cost was $10k and the unit was used for the better part of 26 years.

Dave Ramsey is a well known and respected financial advisor, who also has a radio show. He endorses "timeshareexitteam.com". They will charge money up front, but will guarantee to get rid of your timeshare. There are lots of other companies who will just take your money and do nothing. Another idea, which is recommended by Clark Howard, another respected talk show host, is to stay at your timeshare when it is available, and offer to give it away to other timeshare owners who are staying there at the same time. Clark Howard refers to timeshares as a defective product. Good luck.

We have never owned a timeshare but stayed in them several times with friends before retirement. One of our friends gave the timeshare to one of their kids and gave the other sibling an equal amount of money. If you have children, you might give that some thought.

I've heards Time Share Exit can work. Fully disclosure, Ramsey is a paid endorser.

I heard neither are successful

Not surprised.............





To clarify my position: I'm not endorsing, just sharing information.

It only makes sense to give away a timeshare if it has market value. The problem is that many timeshares have no value because of the annual maintenance fees, and you have to pay someone money to take it. Even if you leave it to an heir or a charity, they may not accept the inheritance, and then your executor is required to spend money from your estate to get rid of the timeshare.

When I retired I was offered 3 timeshares for free. All from close friends. I turned them all down. The friends are both dead now, so I don't know what happened to the timeshares.

Smart move.

I was able to get rid of mine with very little work. You need to find out how to contact the loss mitigation department at your timeshare corporation. Then send an email that says something to the effect that you are retiring, your finances have changed, and you can no longer afford to keep the timeshare (regardless of whether that is true or not :)). I explained that I was not looking for any compensation, but just wanted to give it back to the company. I was contacted by them in less than 2 days, and was told that all I had to pay was a $200 legal fee to transfer ownership back to them.

Very easy and painless - at least for me. That was about 3 years ago.

There is a Timeshare Users Group TUGBBS.com that is a message board full of useful info, including how to get rid of your timeshare without paying someone to do it for you. Good luck!

One approach used by some firms for timeshares with little to no market value is to "sell" them to a corporation that was established just for this purpose. In short order the corporation is disolved. The corporation is usually established in an island nation.

The timeshare clearinghouse firm will charge several thousand to do this

Wesley Financial Group, LLC
9009 Carothers Parkway Suite 83,
Nashville, TN 37067
Chuck McDowell, Owner
Timeshare Cancellation Experts - Wesley Financial Group, LLC