How Can I Get Out Of My Timeshare Contract?
(*HINT*) Don't Hire a Construction Worker to Fix Your Teeth!
YOU'VE DECIDED ITS TIME TO GET RID OF YOUR TIMESHARE ONCE AND FOR ALL, NOW WHAT?
There are a lot of reasons you may be looking to get rid of your timeshare. The maintenance fees may be going up every year, by now they may be completely out of control. You may not be able to use your timeshare or trade it the way you were promised. Maybe you've never used it at all.
Whatever your reason may be, when you finally make the decision to get rid of your timeshare, you will find that there are a multitude of different types of companies promising that they can get you out of your timeshare quickly and easily. Many offer money back guarantees and will say anything to convince customers that they can deliver results. Many companies claim they can sell your timeshare, list your timeshare, or that they can release you from your contract in a number of different ways. Whatever the case may be, it is extremely important for an educated consumer to research all of these options thoroughly before deciding what the proper course of action should be.
LISTING/MARKETING COMPANIES, TIMESHARE BROKERS, ETC.
There are hundreds of real estate listing companies, marketing companies, timeshare brokers and other entities that will contact timeshare owners in an attempt to convince them to list their property for sale to the public. These companies often charge upfront fees ranging from several hundred to several thousand dollars. They purport to list the properties on various websites, magazines, periodicals, etc. promising to find a buyer who is willing to pay thousands of dollars for your timeshare. Many of these companies will even claim that they have a buyer ready and waiting to make the purchase.
While there may be some legitimate timeshare resale companies who may be able to help owners sell their timeshare, owners who are trying to sell their timeshare should be very wary of companies asking for an up-front fee to list their property. It is important to remember that legitimate real estate agents generally charge a commission once a property is sold, not an up-front fee to merely list a property on their website.
Another major hurdle to selling your timeshare is a serious lack of demand for timeshares on the secondary resale market. In fact, the demand is so low that it seems to be completely non-existent. Sellers trying to list their timeshares on websites such as Ebay may notice that there are hundreds of timeshares for sale, many for as little as $1. While resorts may have presented these timeshares as a lucrative investment that would gain value over time and could be sold for profit, many owners are now coming to learn that their timeshare is considered a liability, due to the maintenance fees that continuously rise year after year.
TIMESHARE TRANSFER COMPANIES
While there may be some legitimate transfer companies, some companies contact timeshare owners claiming to be able to either assume ownership of their timeshare or transfer ownership to a 3rd party company, leaving the owner free and clear of their timeshare obligations. These companies often create business entities, corporations, LLC's etc., for the sole purpose of assuming ownership of unwanted timeshares with the goal of absolving the rightful owners of their legal obligations. These entities are then allowed to go bankrupt, leaving the fees unpaid.
This is a common type of Timeshare Fraud which owners should be aware of. It is often referred to as a "Viking Ship Scam" named after the ancient viking practice of placing their dead on a wooden boat, lighting it on fire, and sending it out to sea. While owners may be tempted to transfer ownership of their timeshare to one of these companies, they should be aware that many states now have laws that could hold them legally liable if their timeshare becomes part of a viking ship scam.
TIMESHARE RELEASE COMPANIES / EXIT COMPANIES / RELIEF COMPANIES / CANCELLATION COMPANIES, CONSUMER ADVOCACY GROUPS
There are many timeshare "exit" companies that claim to be able to get owners out of their timeshare, many of which even offer money-back guarantees if they do not produce results. They often charge owners thousands of dollars, promising to assist them with the cancellation of their timeshares. These companies act as a middleman to facilitate the transfer of their timeshare back to the resort. They may be able to help some consumers who are unable or unwilling to contact the resort on their own to go through the process of cancelling their timeshare ownership.
While some of these companies may be helpful in assisting clients with the execution of documents necessary to terminate their timeshare ownership, these companies often charge large sums of money to clients who may be able to facilitate the cancellation of their timeshare on their own. It is important to note that these companies are usually NOT licensed to practice law. Moreover, there is no licensing, regulation, educational requirements, or any other way to veryify the employment record or criminal history of these release companies/entities.
HIRING A TIMESHARE CANCELLATION ATTORNEY
It is important for timeshare owners to realize that these Agreements are binding legal contracts. Many resorts will fight vigorously to try to force you to keep paying maintenance fees forever. When a resort is unwilling to voluntarily cancel your contract, only a licensed attorney can assist you in utilizing consumer protection laws to defend your rights and dispute the validity of your timeshare contracts.
Owners who hire a licensed attorney will have an advocate with the ability to effectively dispute contract clauses, advance legal arguments, and even file a complaint and litigate a lawsuit against your resort if necessary. Only a licensed attorney is in a legal position to insulate you from 3rd party debt collection activities under the FDCPA, and only a licensed attorney can assist you with a strategic default if your resort is simply unwilling to negotiate.
Most importantly, when hiring a licensed timeshare cancellation attorney, consumers can rest assured that they are dealing with a licensed professional who has been subject to the stringent regulations, vetting process, and ethical guidelines of the state Bar Association to which the attorney is a member. In contrast, none of the other options listed above ensure that a consumer is dealing with a licensed professional, no matter what promises and/or guarantees they may be willing to make. Owners should always be cautious of a company offering any guarantees or assurances that they will be able to produce any particular results. Not even an attorney can guarantee results. Clearly, even if your case went to trial, no lawyer could guarantee a win.
Remember that your timeshare obligation is a binding legal contract which is legally enforceable. When looking to cancel that contract, it seems only logical to hire a license timeshare release attorney to represent your interests and defend your rights against the resort.
Click HERE to schedule a FREE Consultation with one of our licensed Timeshare Release Attorneys to discuss your legal options. We may be able to help you cancel your timeshare contract legally and permanently, once and for all!
Led by Attorney Ronald Weksler, Esq., WEKSLER LAW GROUP, PLLC. is a consumer protection law firm that focuses primarily on Timeshare Law.
If you feel you have been victimized by a timeshare company, contact our offices for a free no-obligation consultation. Talk to a licensed attorney and find out your legal options. It is important to understand your rights as a consumer.