You own a timeshare. Maybe you enjoyed it for a while but don’t have the time to use it anymore. Perhaps your circumstances have changed and you can no longer comfortably afford the monthly payments. Or, maybe you simply discovered it wasn’t all it was cracked up to be. Whatever the reason, you want out. A timeshare exit company can be a great option. The problem is, not all of these services are reputable. And if you’re not careful, you could find yourself in an even worse position than you are now. Here’s how to weed out the scammers from the legitimate timeshare resale companies.
Common Scams and Other Red Flags
Sadly, there are a lot of timeshare exit companies that use dishonest, misleading and downright deceptive business practices to lure unsuspecting victims into giving them money. One of the biggest scams perpetrated on timeshare owners involves a so-called exit company advising the owner to stop paying their maintenance fees. This is never a wise practice, because the delinquency can seriously damage your creditworthiness, leaving you with a mess that can take years to clean up.
Another popular scam occurs when a timeshare exit companies talks a big game and lures you in by boasting about guaranteed results, without actually offering any type of money-back option to prove their claims. Unfortunately, these folks can be just as shady and manipulative as the timeshare salespeople who got you into the contract in the first place, so beware.
There are even some timeshare cancellation companies that blatantly break the law, carrying out elaborate schemes that involve illegal contracts that leave the owner holding the bag at the end of the day. If caught, the outcome can involve hefty penalties, up to and even including possible jail time.
How to Spot Legitimate Timeshare Resale Companies
To avoid becoming the victim of a scam, you need to know what to look for in legitimate timeshare resale companies. Here are a few things to keep in mind:
Money-Back Guarantee – If the company is willing to refund dissatisfied customers, chances are their track record of success is pretty good. Plus, there’s no risk to you.
Online Presence – It’s hard to imagine a company today not having a presence online, but often times an unethical company will avoid being easily found. Look the company up online. If you can’t find a decent amount of info about them, it’s probably wise to steer clear.
Track Record of Success – Legitimate timeshare resale companies should have good reviews from previous satisfied customers. This will provide you with a better idea of how they treat their customers and whether they’re really capable of doing what they claim they can do.
Affordable Pricing – Untrustworthy timeshare exit companies will often try to take advantage of a person’s desperate desire to cancel their contract as soon as possible. As such, they charge exorbitant rates that leave their victims in an even worse financial situation. You should be able to get out of your contract quickly, legally and without paying an arm and a leg in the process.
At the end of the day, there are lots of companies out there claiming to be experts in timeshare cancellations. To avoid being victimized a second time, it’s important that you do your homework to identify and choose from one of the few legitimate timeshare resale companies.
At Timeshare Exit Pros, we pride ourselves on transparency and operate our business with the utmost integrity. We offer affordable rates and a money-back guarantee. What do you have to lose? Click here to learn more.