Timeshare exit scams, timeshare resale scams, timeshare company scams — three situations you don’t want to find yourself in as a timeshare owner. But unfortunately, these are common occurrences you need to be aware of if you’re trying to get out of an unwanted timeshare.
No one wants to be stuck with a timeshare exit company that doesn’t provide helpful, honest, or effective exit services. But those going through timeshare cancellation for the first time may find it hard to spot the signs of a bad company. In this article, we’ll discuss timeshare exit scams and how to avoid them. We’ll also give you advice on what timeshare exit company can provide you with the most honest, effective, and thorough exit services.
Exit companies are aware of all the unethical practices timeshares developers use to trick you into buying. The free breakfasts, charming salespeople, lengthy sales presentations — they will know all about the manipulation you’ve endured to get you to the point of seeking cancellation. Because of this, you’d think that exit companies would always be completely moralistic, right?
Unfortunately, this is not the case for exit companies like UDI Consulting, Nationwide Settlement Solutions, and countless others. Just like timeshare developers, exit companies habitually manipulate and bleed vulnerable timeshare owners of their money. They act like they provide helpful exit options and genuine possibilities for achieving timeshare cancellation when really they are a total timeshare exit scam. Here are four signs that tell you the timeshare exit company you’re working with isn’t legitimate.
Getting unsolicited phone calls from a timeshare exit company is a red flag. This is especially true if the caller knows details like the date of your original timeshare purchase, where your timeshare resort is located, or other personal information like your phone number, email address, or home address. Unless you’ve contacted them before or they are affiliated with your timeshare developer, they’ve most likely acquired this information from real estate public records and other data warehouses.
Cold calls often happen to people who’ve already listed their timeshare resale online. This shows them you’re interested in getting out of your contract. And since selling a timeshare resale can be nearly impossible, they know you’re probably open to a seemingly easier solution. It’s not uncommon for these cold callers to tell you they can help you sell your timeshare right away and there’s already a buyer waiting for you. If you hear these words, the company is full of lies.
If exit companies can find your contact information and other details about your timeshare ownership on the online resale market, they’ll see you as a potential victim. In fact, many people who work for these scam companies spend their days scrolling through resale listings in order to retrieve numbers. Beware that regardless of what these cold callers say, they are seeking your money and do not care whether they can actually get you out of your timeshare contract.
Every timeshare exit company wants to think of itself as an expert in the industry. So much so that some claim to give expert legal guidance when in reality they are scammers. It’s crucial to be critical of the advice an exit company gives you, especially if it seems drastic or too good to be true. For example, if the exit services you’ve sought are telling you to stop paying your annual maintenance fees, timeshare mortgage, or any other payments to your developer, do not listen. This could ruin your credit and result in multiple calls from collections. You might even get further penalties from your timeshare company for doing this.
Anytime an exit company is helping you make major legal decisions, a timeshare attorney or law firm must be involved. But that doesn’t mean every timeshare-related issue you have requires legal attention. In fact, a timeshare exit team with experience in the timeshare industry should be able to advise you on whether or not an issue requires an attorney’s help. If a timeshare exit company offers questionable legal advice without explaining the possible risks involved, you shouldn’t work with them.
While it’s not unreasonable for an exit company to charge you an upfront fee (timeshare exits are an expensive process when there is a real process), this amount shouldn’t be exorbitant. One indicator of a timeshare exit scam is if a company asks you for tens of thousands of dollars from the start, especially if they aren’t being transparent about their methods and processes. If you’re already concerned about timeshare expenses, this should be seen as a major red flag. Why should you be paying them so much to help you out of a situation that is already bleeding you of your money?
A good timeshare company should offer long-term financing or escrow options to help minimize upfront costs. They should also provide evidence that all the money you’re paying them is going towards a concrete purpose that will help get you out of your timeshare contract. You don’t want them to keep you in the dark about what your money is actually going towards, and you certainly don’t want them to take your money and run.
On the other side of the coin, it’s not a good decision to go cheap when choosing a timeshare exit company. Many timeshare owners want to find the most affordable exit option; however, the cheaper providers are more likely to cut corners or lack any real process that will get you the results you desire. You should also be wary of any timeshare exit company that insists you will get your money back. This is rare and any provider that claims that it will or is likely to happen is lying and should be avoided.
When you invest money and energy into hiring a timeshare exit company, you should expect them to communicate with you every step of the way. So when the company says it has a special process for resolving timeshare contracts, it should be transparent about it. Many exit companies will keep you in the dark about this information and say you don’t need to be privy to the legal semantics of real estate and timeshare law. But this is just them trying to conceal their unethical practices or nonexistent processes.
Though timeshare cancellation requires the help of knowledgeable exit industry specialists, there is nothing about the exit process they are legally required to keep from you. And if they do, it’s probably for disreputable reasons. What’s worse is that many timeshare exit companies will take an upfront fee for their services then completely ignore you for months, some never to be heard from again. A good timeshare exit company will keep you updated on the progress of your case and won’t ignore your calls.
Whether you’re trying to get out of a Diamond Resorts, Bluegreen, Wyndham, Hilton Grand Vacations, or any other timeshare, representatives from your exit company should provide honesty, communication, and transparency every step of the way. They shouldn’t reach out to you without your consent, give you unwarranted legal advice, charge you excessive upfront fees, or keep you in the dark about their exit process.
A good way to tell if a timeshare exit company is legitimate is by looking at the complaints on their Better Business Bureau (BBB) page. Since online reviews can be bought or fake, reading legit customer complaints through the BBB is truly the best way to come to a conclusion about a company’s reputation. If the complaints are plentiful and the company practices many of the signs we’ve warned you about, they are most certainly a timeshare exit scam.
If you want to avoid a timeshare exit scam and find a reputable company with a proven success rate on Better Business Bureau, look no further than Centerstone Group. We are a full-service advocacy group made up of timeshare exit specialists with decades of experience in the exit industry. Our specialists are honest and thorough with our timeshare-owning clients. We’ll keep you in the loop through every step of the three-pronged exit process and deliver quicker results than any other timeshare exit company or a law firm. Contact us today for a free consultation.
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