Scam Alert: Timeshare Exit Companies

Timeshares are big business. With many of us crunched for cash in these troubled times, selling your timeshare seems like a good way to help your budget, especially if you don’t use it as often as you expected.

Timeshare exit scams also are big business, unfortunately filled with deceptive practices.

Unscrupulous timeshare exit companies charge as much as $10,000 in upfront fees in exchange for a promise – not a guarantee – to help owners exist their timeshare contracts.

Diamond Resorts, a global leader in the hospitality, vacation ownership and entertainment industries, shares these warnings about unscrupulous timeshare exit companies:

Never Pay a Timeshare Exit Upfront Fee

One of the hallmarks of third-party timeshare exit companies is charging thousands of dollars — sometimes tens of thousands of dollars — in upfront fees.

Another rip-off tactic is to keep adding additional charges despite failing to deliver service.

These companies fail to deliver on their promises and instead leave customers in deeper debt and still under contract. As one vacation owner notes,

“There are a lot of companies willing to take your money, but the results are not guaranteed,” advises Former Arizona Attorney General Grant Woods. 

In just the past year, Attorneys General in Washington, Missouri and Arkansas have all sued timeshare exit companies for alleged fraudulent activity.

Don’t Fall for Scare Tactics

Third party exit companies target timeshare owners with incessant telemarketing calls and false advertisements, including on radio and TV.

Many timeshare exit companies lie about an increase in maintenance fees coming from the timeshare developers, or claim to have information pertaining to timeshare contracts that is often not truthful.

Timeshare owners should verify any such claims directly with your timeshare company.

Work with Your Timeshare Company to Make Any Changes

While most timeshare owners enjoy their vacation ownership, vacation companies like Diamond Resorts are well aware that life circumstances can change.

Reputable timeshare developers provide options for members seeking to safely modify or leave their vacation ownership behind.

Before you Buy a Timeshare

If you are considering buying a timeshare, be sure to understand completely what is involved if you decide to sell your timeshare, for any reason, at any time.

To learn more visit ResponsibleExit.com.