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Re: Getting rid of your timeshare

We are a charity that accepts timeshares, not just the resale of it. Since we don't resell it there are a few points to understand that apply to the discussion. 1. Since we don't resell, rent or use the timeshare the only way we generate cash from the donation is to charge a $500 service fee for accepting the donation. However, everything is done through an escrow company and we only get paid when the deed is finally in our name and the donor is free. 2. We advise people to try to sell first. We see our position as the last option between donating to a charity that will resell it and before paying $3,000+ to someone like TimeshareRelief.com or one of it's affiliates. 3. Once we own the timeshare the resorts send all their bills to us. They do the same things to threaten us as they do to other non-paying owners - restrict use, send nasty letters, send to collection, attempt to ruin credit, foreclosure, etc. However, since we don't have credit we don't care. 4. Based on IRS regulations we keep title for 36 months. Doing that allows us to grant a full 100% IRS legal $5,000 donation credit to the donor. In a 25% tax bracket that's worth $1,250 to the donor in a tax refund. 5. At the end of the 36 months we offer to deed the timeshare back to the resort. Interestingly, we have only had one resort want it back. The rest ignore us just like we ignore them. For those who want to flame us for "unethical" or "dirty" dealings, please remember we are only an option to a desperate owner. If you feel no charge should be made, you take them. After all, how would you go about generating cash from a timeshare that can't be sold, rented, used efficiently, or even given away? Given the nature of this discussion, we want to weigh in on what you can do. Deeding in lieu of foreclosure is wonderful if the resort will accept it. Unfortunately, rarely do resorts do this. From experience, the vast majority only want the ongoing income and they have plenty more ready to sell without it. We've even seen mass foreclosure actions against several hundred timeshares in a single action by a resort. By doing it that way, they get them all back for pennies on the foreclosure cost dollar to put back into their inventory and sell all over again. A hierarchical list of actions is: 1. Sell for any $ 2. Trade for anything 3. Donate to a reselling charity 4. Give it back to the resort 5. Donate to us and pay a fee 6. Try to break a contract by paying $1,500+ to an attorney 7. Pay $3,000+ to a commercial company to take it 8. Let it go to foreclosure and accept the negative credit report