Timeshare Exit Companies

I have 2 new loans with a company that I need to get out of. Are there any reputable timeshare exit companies out there or is there a way for me to do this myself.

The only legit companies are licensed realtors but they usually won't list timeshares due to their lack of value on the resale market . Forget donating to charities . Those are all scams . You could just walk away and take the chance that it may affect your credit score . Read through the threads in the forum and you will see a lot of people in the same boat as you .

NEVER pay anyone money upfront that claims they can get you out of your contract .

Part of my dilemma is that what is paid off I use and actually do enjoy. But so stupid I upgraded and now need/must get out of the 2 loans. I want to keep what is paid off. I know that sounds a bit crazy too but I am ok with use of what is paid off. So if I walk away from the loans they said that my account will be locked up and I cant use what is paid off and I cant use what I have fully paid the maintenance fees for. To me that is completely wrong. I have read through the forums and don't see anything specific about exit companies other than beware. Just don't know what to do

mari13 wrote:

I have read through the forums and don't see anything specific about exit companies other than beware.

So-called "exit companies" will gladly take your money, but make no mistake about the fact that ANY AND ALL OF THEM are completely ineffective and entirely useless. Actually, some of them are currently being prosecuted in several different states (recent actions by Attorneys General in the states of Washington and Missouri come immediately to mind as just two specific, recent examples).

Those "exit" parasites exist for no other reason than to take advantage of people who (like you) find themselves in a bind with their timeshares and who, in their desperation to find a solution, become vulnerable to the empty promises of these predatory and worthless "exit" parasites. I hope that these observations and facts are "specific" enough for you to fully comprehend and heed the indisputable fact that NONE of these parasitic "exit" outfits are a possible solution to your dilemma.

I can only repeat that NO "exit / release / escape / relief" operation can in ANY way help you and such parasites can only compound your problems by stealing your money, accomplishing absolutely nothing. Simply stated, there are no "magic beans" or "secret passageways" by which to magically escape the legal obligations associated with loans voluntarily undertaken of your own free will and choice. Your options are few, but clear. You will need to either "square up" on the debt somehow or, if you cannot do so, pay not another penny and walk away --- and say goodbye to any future access to that timeshare property.

Just one more reason that the exit companies are a scam is that some of the reputable timeshare companies will take the property back and let you walk away without any further obligation if you just ask. No doubt that doesn't apply if you still owe them money for the purchase price. But Wyndham, for example, will take back a property if seniors can no longer travel and/or don't have heirs that want to own it. They much prefer that to on-going legal battles with exit companies. If owners walk away on their own, Wyndham (and other owners) are left holding the bag for maintenance expenses. But since they can't stop an owner from walking away, they decided it was better to part with some goodwill in tact. Just knowing that that's their viewpoint, makes me think that other timeshare companies could be open to the same conversation.

sandl2 wrote:

Just one more reason that the exit companies are a scam is that some of the reputable timeshare companies will take the property back and let you walk away without any further obligation if you just ask. No doubt that doesn't apply if you still owe them money for the purchase price. But Wyndham, for example, will take back a property if seniors can no longer travel and/or don't have heirs that want to own it. They much prefer that to on-going legal battles with exit companies. If owners walk away on their own, Wyndham (and other owners) are left holding the bag for maintenance expenses. But since they can't stop an owner from walking away, they decided it was better to part with some goodwill in tact. Just knowing that that's their viewpoint, makes me think that other timeshare companies could be open to the same conversation.

Numerous deep-pocket "chains" have adopted "deedback" programs in recent years, including Diamond (only developer-direct purchases are eligible for deedback with Diamond, however), Hyatt, Westgate and Wyndham. I'm not sure about Hilton (HGVC), but I believe they have done so as well. In all instances, of course, there must be no unpaid loan balance still outstanding and all maintenance fees must also be fully paid up to date in order to be eligible for "deedback" consideration.

Deedbacks are a much more difficult proposition at smaller, independent timeshares (i.e., properties with no "big chain" affiliation). With no deep pockets corporation in the background to help prop things up financially and with no high-pressure sales and marketing operations actively soliciting new owners, the financial impact of non-paying intervals is much more severe at independent resorts. No fees get paid by HOA-owned weeks, so (as you have pointed out already) the financial pressure on owners is increased as operating budgets get strained by reduced financial resources, often followed by a unwelcome fee increase for remaining owners to mitigate the shortfall. Not at all a good situation.