Original Message:
Re: Re: Where are the people who actually exited a time share? (by KC):
jayw219 wrote:From my reading, it really seems as though there is no means to exit escape except death…just like taxes. :)
Not really an accurate conclusion; there are always exit options.
1. "Deedback" to the resort. That being said, not all resorts will accept "deedbacks" and some "chains" that do accept deedbacks charge serious money for the "privilege" (Westgate being a prime example). Wyndham accepts most deedbacks without charging any fees at all. With independent (not associated with any "chain") timeshares, the individual resort HOA's decide for themselves whether or not they will accept deedbacks. Most don't, quite frankly. Some that do will sometimes require pre-payment of a year's worth of maintenance fees as a condition for deedback acceptance --- and none will accept a deedback if the owner account is currently in arrears.
2. You can try to give it away for free, perhaps "sweetening the deal" by paying all closing and transfer costs, maybe also throwing in a gift card of monetary value, or pre-paying a year's maintenance fee amount for the willing new "grantee". You can advertise any such free giveaways (at no cost to you) on the Timeshare Users Group site, clearly specifiying all of the details of whatever you own and are seeking to give away for free.
3. Last but not least, you can simply stop paying anything further, which will ultimately result in foreclosure, although that result might actually take a few years in some instances. If there is an unpaid loan balance on which you default, there will also be a credit score / report "hit" that will remain in place for 7 years.
The bottom line is that ANY AND ALL third party "timeshare exit / relief / escape / rescue" operations that charge an upfront fee are basically scams, preying upon desperate people who don't know what to do and / or are just looking for an "easy" way out. There is no "easy" way out. Those "exit" parasites charging money to "help" you cannot do anything for you except to gratefully take your money. Numerous of them have been shut down and / or successfully prosecuted in various different states in recent years; a fact which speaks for itself.
Good Luck!