NEED TO RETURN TIMESHARE

What is the name of the company and phone number that will handle return of timeshares? Thanks, Mikell

mikellr wrote:

What is the name of the company and phone number that will handle return of timeshares?

Just be careful with some of these companies that are sometimes referred to as Post Card Companies (PCCs). They charge you at least $2500 to merely list your timeshare on E-bay for $1 (or less) and try to find someone to buy it.

If you want to "return" your timeshare, try contacting the resort's Home Owners' Association (HOA) and ask if it will take the unit back. It might charge you one or two years' maintenance fees plus closing costs.

If it declines to take the unit back, try listing it here in RedWeek's Bargain Bin or on other well-known timeshare resale sites such as My Resort Network, E-Bay, Bidshares, or Timeshare Users Group (aka "TUG").

I too pay maintenance fees and have the timeshare pai off and have now listed the timeshare for free - not looking for any money - just transfer the deed and "own" the maintenance fees. I have had many folks contact me and plan to do a deal next week.

reneeo27 wrote:

I too pay maintenance fees and have the timeshare pai off and have now listed the timeshare for free - not looking for any money - just transfer the deed and "own" the maintenance fees. I have had many folks contact me and plan to do a deal next week.

Kudos to you ..... there are hundreds of free timeshares in nice resorts .... if we were still traveling I would surely be looking at these .... no upfront cost (where many initial owners paid several thousand dollars) .... just pay yearly maintenance fees .... it's a win-win situation for the taker.

I know your post was two years ago, but I did find out that you can do that. All I had to do was specifically tell them that, due to hardship, I need to "give it back". They sent me paperwork to fill out and I will no longer have to pay maintenance fees. The loan is another story. A lawyer told me that I can default (not pay), and if I truly am low income, they can't touch me (disability income only). They can try, and make my life miserable for a long time, then they will give up and a "charge off" will show on the credit report. Bad, but I can't afford credit, anyway. He said it was less harmful to my score than a bankruptcy, and since I owe no other debt, I should just stop paying it. This is only if you don't care about your credit score. I have not decided yet, but I am getting rid of the other, which will save about $500/year right away ; ) Faith

sabrinat4 wrote:

Hello, I need some assistance with knowing what can the timeshare companies do ( WYNDHAM LAS VEGAS) if you're in need to turn the timeshare(s) back in. We've had it for 5 years ( even and odd years) and due to finances we can't afford it any longer. I just want to make sure that 1. they can't garnish our wages and 2. ruin our credit for ever. Can you please inform what will happen. We just can no longer afford it. Its either mortage and other bills or timeshare. Timeshare is the decision because we can't live in it. Its a luxury.

HELP PLease!!!

Sabrina

Hey, I'm doing this very thing. YES, you can give it back, but you still owe the loan. This will still save me $500/year in maintenance dues. A lawyer told me that a default on the loan is less harmful to my credit score than bankruptcy. I don't have any other debt, so I am considering sacrificing my credit score and putting up with collectors for a while (but if you threaten to report them for calling when you asked them not to, they shut up and put it in writing). I am truly low income now, so I can't afford credit, anyway. Have not decided, yet, but DO just call them and tell them it is a hardship. NO ding to credit.

Even if you are a true victim of timeshare fraud or you feel your contract is invalid, the timeshare company can take you to collections if you fail to make payments. In order to avoid being taken to collections and damaging your credit score, it is very important that you properly cancel your contract with the resort before stopping to make payments.

I have a question for Deb and was wondering if I could get her e-mail address or phone number. Thanks in advance!

I seriously doubt that she'll post her email address on a public forum .... just ask your question here .... there are no dumb questions regarding timeshares.

debbies455 wrote:

Each resort will charge their own fees for transfer so that depends on the what you own.. I have a list of fees, so I could tell you if I knew what you owned. Legals and fees will run around 499-699$. We can usually clear you for $1099-1499 which INCLUDES transfer costs but some of the resorts are charging outrageous fees..Spinnaker for eg. is $1500 just to discharge..so you would be looking at closer to around the 2k or slightly over, sorry. I always will quote an exact figure when know the resort. Resort fees can change at any time so best to call your resort to confirm, as I always double check prior to taking the client.. I also include a one year membership to my vacation club where you have access to all the timeshare resort inventory 365 days per year with no exchange fees. It's a great product. I too many years ago sat at a presentation and purchased TS. I have used it for several years but outgrew it and my children did not have the means to take it on if any thing should happen to me. I know how hard it is to sell it.. statistics show that only 1% will sell, and yes some people get lucky but what about the rest of us.. I now travel through the club. Thanks for the inquiry and let me know if I can assist. Process takes 60- 90 days from time I have your signed agreement. The person with the hiawatha unit would be $800.00. Deb

Hello Debbie:

Are you still handling the transfer, etc. of timeshares out of people names? We own an even and odd week at Carriage Hills in Barrie, Ontario. It is all paid for. Can you give me a feel for what it would cost to have it totally transferred out of our name? If you need more info please let me know. Thank you.

Sounds like someone has too much money on their hands and wants to give it away to someone.

sabinao3 wrote:

Hello Debbie:

Are you still handling the transfer, etc. of timeshares out of people names? We own an even and odd week at Carriage Hills in Barrie, Ontario. It is all paid for. Can you give me a feel for what it would cost to have it totally transferred out of our name? If you need more info please let me know. Thank you.

Do you have a buyer for your timeshare .... if not, there's no way you can transfer it out of your name unless the resort is willing to take a deedback (most don't). Also, I would be very leery of any sort of vacation club ("a one year membership to my vacation club where you have access to all the timeshare resort inventory 365 days per year with no exchange fees") just isn't realistic.

If it sounds to good to be true then 99.9% it's a scam.

My husband and I have three timeshares and they are all paid for and all maintenance dues are current. We would like to get rid of the 154,000 points from our Wyndham timeshare. Could you please advise us on how to do this without paying another company like donate your timeshare 2500.00 for this process.

Thank you so much.

donp196 wrote:

My wife and I just recently deeded back two properties that we owned for years. We were current with all of our fees and assesments. I just called the time share companies and explained to them that were going to dispose of them with or without them taking them back and they both agreed to deed them back. We signed the quit claim forms and paid minimal fees for the process. I doesn't hurt to make a few phone calls. It is easier for them to take them back then spend thousands of dollars in lsot fees and legal fees to go through the courts.

Hi I would like to deed back to Wyndham the timeshare that my husband bought over 10 years ago. The timeshare is paid for and the maintenance fees are correct. What would be the process for me to do this. We bought at Wyndham Cypress Palms in Orlando.

Thank you so much.

donp196 wrote:

I successfully used deed backs on two timeshares last year. They really do work. You have to use the home resort to do it easily. You must be current in your mainteanace fees and assessments. I had to pay the next years taxes and a minimal fee to process the paperwork. Just follow all the instructions to the tee and you should be allright as long as its through the home resort.

My husband and I have Wyndham points and would like to sell them. Where would you suggest selling them, also what would 154,000 points go for in the open market?

You said make sure you speak to the right people at the resort if you decide to deed back your timeshare. Who would be the right people to speak to? Our timeshare is paid off and our maintenance fees are current.

Thank You.

donp196 wrote:

It can't hurt to do a little exploring. I read an article in Timesharing Today that suggested calling the home resort and asking if they will take it back through a deedback. It's important that you state your case properly. I informed them that I was going to rid myself of the timeshares with or without their assistance. They both agreed to take them back with just a quit claim deed. I just had to be current with my maintenance fees and assessments. I just had to pay the following years taxes and a nominal fee to transfer the deeds. Make sure you get the right party at the resort that deals with these matters. It worked for me.

I also heard that Wyndham points have value. You might be able to sell them on the open market. Good luck.

Make a call to your home resort and ask a few questions and let them know that you intend to get rid of your timeshare. Hopefully they will transfer you to the right person to talk to. It doesn't work for everyone but be persistant. It worked for me after they realized it was in their best interest to work with me. It helps to be prepared with a forceful arguement in your favor. Good luck and let us know how it goes for you.

Thank you so much for your response

kathyv27 wrote:

My husband and I have Wyndham points and would like to sell them. Where would you suggest selling them, also what would 154,000 points go for in the open market?

You said make sure you speak to the right people at the resort if you decide to deed back your timeshare. Who would be the right people to speak to? Our timeshare is paid off and our maintenance fees are current.

Thank You.

Be aware that most resorts don't take deedbacks (I've never heard of Wyndham doing so). You can go here to post your ad and get a feel for what others have sold for.

(copy and paste url or go to Find a Timeshare above and scroll down to the different point systems)

http://www.redweek.com/timeshare-companies/wyndham-vacation-ownership

How did you convince them that it was in their best interest to work with you. I'm in a similar situation and would like to do a deed-back.

donp196 wrote:

Make a call to your home resort and ask a few questions and let them know that you intend to get rid of your timeshare. Hopefully they will transfer you to the right person to talk to. It doesn't work for everyone but be persistant. It worked for me after they realized it was in their best interest to work with me. It helps to be prepared with a forceful arguement in your favor. Good luck and let us know how it goes for you.

dortriciap wrote:

How did you convince them that it was in their best interest to work with you. I'm in a similar situation and would like to do a deed-back.

donp196 wrote:

Make a call to your home resort and ask a few questions and let them know that you intend to get rid of your timeshare. Hopefully they will transfer you to the right person to talk to. It doesn't work for everyone but be persistant. It worked for me after they realized it was in their best interest to work with me. It helps to be prepared with a forceful arguement in your favor. Good luck and let us know how it goes for you.

donp was very lucky that the resorts took his weeks back, however the vast majority do not take deedbacks so don't get your hopes up, however it's worth try.