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HELP!. Rid of timeshare (by Lance C.):

billc364 wrote:

hi jayjay have you heard of florida veterans association. are they reputable/legitamite company. they require me to pay around $500 and a $275 closing cost and whatever the resort charges for title transfer. also what about donate for a cause. they want to charge me around $2000 to take the timeshare off my hands. please give me your input on these two companies. thanks bill

I'm not JJ but here's some advice. If you go the Florida Veterans Association route, make sure that they actually transfer it out of your name. I don't know if you've ever checked out tugbbs.com but those forums have many threads about charities taking over timeshares.

You'll also see suggestions on how to try to give away your unit.

As for that company that's charging you $2000, frankly, fuhgetaboutit! It's likely a scam where it will claim to take your unit off your hands but then only assume Power of Attorney (long story short: you'll likely still be stuck paying the maintenance fees).

Think about this: $2000 is probably about 3 years' maintenance fees. Pay those fees over the 3 years as opposed to all of it now. Then, during those 3 years, try to give it away (again, check out tugbbs.com). If you can't give it away, try renting it out for about 75-80% of your maintenance fees to at least recoup some money. Or (without trying to sound like a timeshare salesperson) you're likely to take at least one vacation in those three years. Try using or exchanging your unit.

As for Donate For A Cause, there have been many threads about how various charities try to mislead you about the tax value of "donating" your unit. Don't be fooled by their claims.