Timeshare owners stuck in their contracts are losing so much money to maintenance fees, assessments, and other costs that it can be tempting to try and pull the plug as soon as possible. In your research on how to get out, you have likely discovered timeshare cancellation companies like Centerstone Group. You may be wondering, “Do timeshare cancellation companies work?”
These companies, also known as timeshare exit companies, can be a crucial tool in freeing yourself from an oppressive timeshare contract. They can provide the years of experience and expert guidance that makes the difference between a successful exit and years of delay by your timeshare developer.
Not all timeshare exit companies are created equal though. Some have misled or abandoned their customers, or didn’t have the expertise that they claimed to have. So, it’s important to do your homework and avoid timeshare exit scams. This article will take a look at timeshare exit companies, the services they offer, and the things to think about when you are trying to hire one.
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Yes, timeshare cancellation companies work — if you hire the right one. The problem comes when people hire inexperienced timeshare companies, or companies that don’t necessarily understand the correct exit processes. This means that you need to do your research and ask several questions before deciding on the timeshare exit company that is right for you.
When you’re looking for a timeshare cancellation company, you should be concerned with the exit services they offer and the people they employ. At Centerstone Group, for example, we offer a wide variety of services in order to cater to our customers’ individual situation. Other companies only offer one or two services and try to employ the exact same strategy for every customer — or worse, won’t share their strategy at all.
We can help you with timeshare rescissions/contract cancellations, timeshare transfers, our proprietary pressure campaign (whether forcing a developer to use a deed-back program, an exit program, or another option), and even finding you a lawyer or law firm at a discounted price if we deem it necessary for your case. Another key service from Centerstone Group is assistance with timeshare cancellations in Mexico, which requires specialized knowledge and experience that most don’t have.
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Centerstone Group also has the right team to get the job done. We’re composed of dedicated professionals with collected decades of experience in both the timeshare industry and the timeshare exit industry. We know the ins and outs of the business, and we put that knowledge to work for our clients.
When you first start searching for a company to help you end your timeshare ownership, you’ll notice quite a few options. You will need to be a discerning shopper though. Picking the wrong timeshare exit company can end in disaster. It is worth your time to research both the history and the online reviews of the companies you are thinking about.
Timeshare Exit Team, for example, was run by people with no real experience in the timeshare industry and was the subject of a consumer protection lawsuit by the Washington State Attorney General. (While being the subject of a lawsuit doesn’t always mean a company is bad, it is definitely a red flag that deserves more attention.)
In that case, Timeshare Exit Team was improperly advising some timeshare owners to stop paying annual maintenance fees or their mortgages. That kind of reckless exit strategy can lead to foreclosure, ruining your credit score and possibly even resulting in a legal judgment against you and the timeshare cancellation company.
Timeshare Termination Team was another timeshare exit company that, despite advertising a money-back guarantee, simply closed up shop and left without informing its clients. There, lawsuits against the company and bad business practices combined to create a real problem for the customers who were depending on Timeshare Termination Team.
The Timeshare Compliance Group of companies (including Resort Advisory Group and Timeshare Contract Resolution) have also dealt with their share of legal issues, including a default judgment and a $16.2 million penalty precluding them from executing their services. This has left many of their clients high and dry, without answers or a way forward.
These cautionary tales show why it’s important to look into an exit company’s history, their BBB rating, and their customer reviews before you hire them. Any reputable company will welcome your inquiries and be able to share their track record and the services they offer.Â
Centerstone Group, for example, is an accredited company with the Better Business Bureau (BBB), boasting an A+ rating and a 4.78-out-of-5-star average for customer reviews. Those reviews show that Centerstone Group is not only professional, but communicative, knowledgeable, and a company that keeps its promises.
The length of your timeshare exit process depends on your individual situation. A contractual rescission of a timeshare purchase agreement is usually the quickest and easiest of the options, taking only a few weeks. Timeshare cancellation through the contract won’t be an option, however, unless you recently bought your timeshare and are still in the rescission period set by the state law where you purchased the timeshare.
Are you trying to transfer your timeshare or list it on the resale market? Are you trying to pressure your timeshare developer to take the timeshare property back? In both of those cases, it might take a bit longer to convince the developer or timeshare resort to do the right thing and allow you to transfer the unit.
Timeshare exits and transfers in Mexico can also take a bit longer. In that case, the time frame can be between three and eight months.
In the event that you are trying to sell your timeshare in the way you would other real estate, you should know that timeshare sales are incredibly difficult and likely won’t make you any money. (Beware also of so-called “timeshare resale companies,” which, according to the FTC and FBI, are often scams designed to steal thousands in upfront fees while giving you nothing back.)
The easiest estimate for how long the average exit should take would be a few weeks to a few months. If you need a more specific estimate, however, Centerstone Group is happy to give you one after evaluating your case.
So, do timeshare cancellation companies work? That’s a bit like asking if surgery works. The answer is yes, but only if it’s done by a team with knowledge and skill.
In order to find out whether the company you’re looking at is right for you, you’ll need to kick the tires. Look at online reviews, and talk to the company. They should be happy to answer your questions.
Centerstone Group is ready, willing, and happy to help you find a legal, ethical, and responsible exit. Book a free consultation with us today.
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