Understanding the Types of Timeshare Relief Companies

Understanding the Types of Timeshare Relief Companies (Source: pexels.com - used as royalty free image)

There are countless people scouring the internet and their local yellow pages right now, seeking assistance in terminating their timeshare obligations. A purchaser may want to walk away from their timeshare interest for any number of reasons, after all – perhaps a timeshare is no longer the right fit for their lifestyle, or maybe the burden of annual maintenance fees has become too great.

Whatever the situation, a consumer searching for a way to extricate him or herself from a timeshare obligation is going to come across numerous “relief” companies presenting themselves as the end-all, be-all for a solution.

Let’s look at a few of the most common examples of timeshare relief companies. What services can they offer? What do they really provide? And can they actually consistently accomplish the hefty task of extracting people who own long-term timeshare interests from their binding contracts?

Inventory Redemption Companies

The Ongoing Costs of Timeshare Ownership

The Ongoing Costs of Timeshare Ownership (Source: pexels.com - used as royalty free image)

It’s important for consumers to know exactly what they’re getting into with a timeshare obligation; buying a timeshare interest is one thing, but owning one can be another beast entirely. You see, even after you pay off your total purchase price, you will typically still be liable for ongoing purchases and fees.  

In our experience, there are two major expenses that can continue to add up for – and drive away –  timeshare owners, even after their initial purchase is far in the rearview mirror:

Maintenance Fees

The American Resort Development Association describes maintenance fees as the fees “that timeshare owners are required to pay, usually on an annual basis, to cover the costs of running the resort, including daily management, upkeep, and improvements.”

Dispelling the Timeshare Value Myth

Dispelling the Timeshare Value Myth (Source: pexels.com - used as royalty free image)

As someone with a strong background in accounting, I always assumed I inherently understood the definition of the word “value.” Now, I readily concede that the word “value” can, depending on its usage and context, represent several meanings and variations. When used as a verb, one can, for instance “value” something as nebulous as a “moral percept.” As a noun, things of “value” can, and often do, reference monetary significance, but can also apply to matters of emotional “value.” Therefore, it may be somewhat understandable that when one references the value of a product, like a timeshare interest, that attempts to embrace qualities of real estate and/or lifestyle, such as a multiple-location resort, that value can become a more elusive concept, perhaps a little more difficult to comprehensively nail down. Indeed, the “value” of a vacation experience becomes less quantifiable by a fixed number since, arguably, “beauty is in the eyes of the beholder!”

Balderdash! Poppycock! Hogwash! Propaganda propagated by the timeshare industry to diffuse and deflect the common criticism that their products lack actual resale value! Yes, of course the term “value” can have different meanings depending on the context. However, in this arena we are not speaking of subjective niceties, we are addressing the issue of what can one anticipate receiving in cold, hard coin of the realm when one needs to unload a no-longer-wanted timeshare!

The Value of a Timeshare

Some Important Considerations About Your Timeshare Contract

Some Important Considerations About Your Timeshare Contract

When faced with a timeshare obligation that has become financially burdensome or somehow unusable, plenty of consumers first turn to the resale market or to a questionable redemption company, not realizing that the process of getting out of a timeshare is, more often than not, a legal one. In most cases, getting out from under a timeshare interest isn’t about selling or cancelling the timeshare itself, but in cancelling your binding timeshare contracts.

One reason that many consumers don’t realize this because of the nature of the timeshare contract itself – as well as the way in which that important paperwork is presented to the consumer at the time of closing.

In many ways, though, the actual meat of the timeshare contract isn’t what puts consumers at a disadvantage when it comes time to sign. In most respects, these contracts are more or less vanilla, and are largely written in such a way that they are, ultimately, forgettable, and not really worthy of note. Instead, in a lot of ways it’s everything around the material substance of the contract that creates problems for consumers. What do we mean?

Is It a Timeshare Scam? Watch Out for These Warning Signs

Is It a Timeshare Scam? Watch Out for These Warning Signs 

Maybe you’ve been unable to use your timeshare due to changes in your lifestyle, and you’re looking to turn it over to someone who can put your week to use. Maybe you’re unable to keep up with maintenance fees and other costs, and you want to be out from under the financial burden. Maybe you’re a completely satisfied timeshare customer who gets a call out of thin air one day.

Whatever the case, the temptation to pay a third party company to sell, rent out, or otherwise get you out of your timeshare can be a powerful one. Well, plenty of individuals are well aware of how enticing timeshare relief can be, leading to the continued popularity of the timeshare resale scam.

This common scam dupes consumers out of thousands of dollars every single year – but it can be avoided, if you know what to look out for. Here are four major warning signs that you may be in the midst of a timeshare scam:

You’re Contacted Out of the Blue

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