The Risks of Timeshare Exit Companies That Offer “Guaranteed” Results

Once you’ve decided to get out of your timeshare, you have to decide how. The latter decision can be much easier when you have a trusted expert by your side. That’s where timeshare exit companies come in. But how do you know who to trust? Just as there are risks in the timeshare industry generally, there are also timeshare exit company risks, particularly where those companies make big money-back guarantees.

Not all timeshare exit companies are created equal. While there are some, like Centerstone Group, that are well-respected and have great reputations, there are even more that engage in questionable practices and promise things they can’t deliver, only to leave timeshare owners in a worse position than they were in to begin with.

This article will take a look at how you can avoid those risks when trying to find an exit company for your unwanted timeshare. First, we’ll go over the red flags that you should be aware of when choosing a timeshare cancellation company. Next, we’ll discuss the so-called “guarantees” that many companies make and whether any of those can truly be believed.

What Should I Look for to Avoid Scams When Hiring a Timeshare Exit Company?

The fact that the timeshare industry is thriving is evidence that even smart people can be scammed if they’re not careful. You’ve already gotten yourself into one bad situation — an expensive timeshare contract. Now, it’s important to get yourself out in a way that isn’t going to make the problem worse.

The range of bad timeshare exit scams is vast, but there are some red flags that you can look for to help you avoid the most common timeshare exit company risks. Here is a checklist to use when sussing out bad companies:

• The company guarantees you a buyer for your timeshare on the resale market, and asks for large upfront fees: This is likely not a legitimate timeshare exit company. Instead, it’s a fraudulent timeshare resale company. These companies have scammed timeshare owners out of thousands of dollars at a time, taking fees and then disappearing. No legitimate real estate broker or agent takes their fees upfront.
• The company has bad reviews online: Testimonials aren’t a foolproof sign either way, but comments and complaints on the Better Business Bureau (BBB) website are usually a good indicator of whether a company is run by scammers. Reviews on sites like Trustpilot or on social media sites, which can be manipulated by scammers, are less helpful.
• The company doesn’t have any experience in the timeshare exit industry: Is the company brand-new? What experience does its team have in timeshares? Timeshare Exit Team was a company founded by men who didn’t have any experience in the industry at all. The company eventually faced legal troubles and had to close its doors. 
• The company tells you that it has an offer to buy your timeshare for a lot of money: Timeshares don’t usually sell for much, if at all. If an offer sounds too good to be true, it probably is.
• The company is a “one-trick pony”: Even companies that aren’t fraudulent can steer you wrong. Some of them have developed a single exit program for their clients — for example, hiring pricey law firms for their clients, even if that strategy is unnecessary or too expensive.
• The company tells you not to pay your mortgage or timeshare maintenance fees: Stopping payment will do nothing but get you into further legal trouble with your resort developer, including a possible foreclosure. This is terrible advice, but unfortunately, it has happened several times. One of the worst examples is Timeshare Exit Team, which was later investigated and sued by the Washington attorney general.

Each of the above issues presents serious obstacles to getting out of your unwanted timeshare contract. It is, therefore, important to look into all of these matters before hiring a timeshare exit company, lest you create even more problems for yourself.

Are “Guaranteed” Exit Services Trustworthy?

The answer as to whether “guaranteed” exit services are trustworthy is: It depends. As a rule, ethical timeshare companies should never guarantee you a legal result for any exit strategy. Promising that a timeshare developer will release you from your contract once you retain the exit company, for example, is unrealistic. 

Nor could a company or lawyer promise you that by suing a timeshare developer, the contract will be cancelled. Legal results that are not under the company’s full control cannot ethically be guaranteed. Promises like this present a new and less predictable kind of timeshare exit company risk — the kind that could take even more time and energy to fix.

However, there are some kinds of processes that can be guaranteed because they are clerical in nature and the company has full control over them. For example, Centerstone Group offers a program that allows owners to transfer their timeshares to willing recipients. Because this is a process that is fully in control of Centerstone Group (as opposed to a legal outcome), a money-back guarantee of that exit process is both ethical and proper.

Are There Reputable Companies That Offer Guarantees?

Yes, there are reputable exit companies that offer guarantees. The mere fact that a timeshare exit company offers a guarantee does not mean anything about the trustworthiness of that company. You have to look at the nature of the guarantee. Is the company standing by its services, or is it trying to promise you a particular legal result? If the latter, you should ask more questions.

As the premier timeshare exit company, Centerstone Group welcomes scrutiny from timeshare owners. You’ve found yourself in a difficult situation, and we are in the business of making your life easier. We do that by matching our clients to the procedures that are best for their cases and then fighting as hard as we can for the best possible outcomes.

Do Your Homework to Avoid Timeshare Exit Company Risks

You need help to get out of your timeshare, but there are timeshare exit company risks to be aware of. When hiring a timeshare exit company, the one thing you should never do is sign a contract without doing your research. Any company that doesn’t encourage due diligence and informed decisions isn’t a company that you want working for you.

To that end, Centerstone Group is proud to offer free consultations to all timeshare owners seeking an exit. We are an accredited, A+-rated company with the BBB and have a rating of 4.77-out-of-5 stars from our clients.

If you’re looking for a way out of your timeshare, contact us today, and we will see what exit options are best for you.