timeshare cancellation
How to Avoid Timeshare Cancellation Scams
Consumers who feel they were mislead into purchasing a timeshare: beware being scammed by a timeshare cancellation company.
The timeshare industry in general is full of fraud and scams. Not only do the timeshare companies lie to make the sale, there has been a rise in scams targeted at people looking to get rid of unwanted timeshares. Timeshare resale scams are one such deception, but there are also timeshare cancellation scams. Don’t fall victim and lose even more hard-earned money. Here are some ways to be sure you aren’t being scammed:
Check For BBB Accreditation
The Better Business Bureau is a great tool for consumers who are engaging the services of any company, but especially in the timeshare relief industry. There are two metrics that the BBB uses that are useful to check. The first is the rating on the company’s page. This can range from an A+ (excellent) to an F (beware!). If a company has an F rating, it’s safe to say that the company has unscrupulous business practices.
In addition to the rating, check to see if the company is accredited with the Better Business Bureau. To be accredited, a company must comply with the rigorous standards set by the BBB. From their website:”Our Code represents sound advertising, selling and customer service practices that enhance customer trust and confidence in business.”
Could You Go Visit The Company?
One of the best ways to determine if a company is trying to scam you is if they do not have any contact information on their website, or if they have very little. If you can’t find where the company is located, see any of their employees, or get in contact with someone easily by phone, then be very skeptical.
Check The Website’s Domain Registration
This may sound complicated, and like gibberish to anyone unfamiliar with how the internet works, but it’s really quite simple. When a company buys a website address (like google.com) they have to register that address with a name and physical address. If the company is legitimate and not a scam, then a physical address will appear when you search for the domain registration. If the company has something to hide, they will block your ability to see where they are located, and the name of who bought the website URL.
The easy way to check this is to enter the company’s main website address into this webpage. It will quickly tell you if the website is registered publicly (shows the owner’s name and the company’s address) or privately (doesn’t show you that important information).
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If you are looking to cancel your timeshare contract because you were misled into purchasing the contract, you can schedule a free consultation with Timeshare Advocacy International today to learn your options.
Timeshare Resale is an Option, But Don’t Expect a Miracle
Timeshare resale scams are preying on the desperation of timeshare owners.
One of the hottest topics in timeshare and travel news is the rise of timeshare resale scams. These are scams in which companies contact timeshare owners and claim they have a buyer willing to pay a high amount for their timeshare, collect upfront “closing fees”, and then disappear without selling the timeshare. Now, not only do you still have the timeshare, you’re out hundreds or even thousands of dollars.
What’s even more despicable is that these scams prey mostly on the elderly, and those most desperate to get rid of a timeshare they can no longer afford. With scammers out there like these, it’s no wonder timeshare owners have a hard time trusting the good guys who are really on the side of the consumer.
So should you swear off timeshare resale altogether? Not at all. As long you have reasonable expectations, and remember a few tips, you can avoid the worst scams.
If it’s Too Good to Be True, it Probably Is
This is the most important thing to remember so you don’t get scammed. If someone calls you out of the blue saying they have a buyer for your timeshare, willing to pay a high price, that’s just too good to be true. If you’re going to engage the help of a company, make sure you contact them FIRST and do your research.
Don’t Expect a Miracle
The timeshare resale market is flooded with properties and owners who are just as anxious to be rid of their timeshare as you. Because of this, most timeshare listings are for at least 60% less than the original purchase price. Some are even listed for one penny, and they never sell. So don’t list your timeshare for the original price if you expect it to sell.
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If you’ve been trying to sell your timeshare with no luck, Timeshare Advocacy International may be able to help you get rid of that unwanted timeshare. There are several options for owners who are unhappy, so give us a call today to schedule a free consultation or click here.
Timeshare Exchanges Are a Complicated Mess
One of the biggest enticements that timeshare salespeople use to sell timeshares is the idea of timeshare exchanges.
The idea is a great in theory: You trade your points or week for a vacation at an exotic location, and can do this every year. But, if you’re a timeshare owner, you probably know that the reality is not quite so sunny.
I’ve had personal experience with how difficult and complicated it can be to use a timeshare exchange program successfully. I’ve seen my mother spend over three hours on the phone with RCI (Resort Condominiums International), one of the largest timeshare exchange companies, trying to negotiate a trip to Orlando. And then, surprise!, the place we ended up with was completely unacceptable (think roaches in the tubs, strange stains on the linens).
If you’re tried of paying for a timeshare that you can’t use like you were promised, Timeshare Advocacy International can help.
Are you having trouble exchanging your timeshare? Are you unable to trade for weeks that you want, or use the timeshare like you were promised? Here are the most common reasons why:
Your timeshare has low exchange power.
So what exactly does that mean? It means that no matter what the timeshare salesperson told you, you’re timeshare just isn’t valuable/desirable enough to get you the exchange you want. You were probably told that you were buying a top-of-the-line unit in a peak season, but the truth is often much different.
You didn’t deposit your timeshare quickly enough.
Timeshare exchanges work sort of like a bank: owners deposit their weeks or points into the communal pot, and then two people who have deposited make a mutually agreeable trade. The key to getting a trade that you really want is depositing your timeshare as quickly as possible so you have as much time as possible to find the exchange.
Your timeshare resort is banking weeks in bulk.
Timeshare resorts often put all of their unsold weeks into an exchange bank. And what kind of weeks do you think those are? The ones with the lowest demand of course. This becomes a problem, more so for owners with floating weeks. Floating weeks are often sold by touting their convenience for trading and exchanging. But when your resort banks low-demand weeks in bulk, and you call to get your floating week assigned to exchange it, you’ll most likely be assigned one of those low-demand weeks which will greatly inhibit your ability to get the trade you want.
If you are having trouble exchanging your timeshare, you are not alone. There are many resources that can help you, like timeshare user forums and smaller exchange by owner websites. However, if you’re tried of paying for a timeshare that you can’t use like you were promised, Timeshare Advocacy International can help. We offer free consultations for you to learn your options of permanently getting rid of your unwanted timeshare, so contact us today!
Renting Out Your Timeshare: Not as Easy as You Think
Timeshare salespeople are fond of saying you can rent out your timeshare for extra cash. Truth is: it’s not that simple.
If you’re a timeshare owner, you probably heard something along these lines when you purchased your timeshare: “Timeshares are great investments, since you can rent out your unit when you aren’t using it!”
Sounds great, right? Not so fast. As with everything related to timeshares, renting out your unit is not all it’s cracked up to be. Here are some of the problems you might face when trying to rent out your timeshare unit:
- You might not even be allowed to! If you’re thinking about renting out your timeshare, you need to check with the timeshare company, and read over your contract, because in some cases renting out your timeshare is forbidden. If you rent it out without checking first, you may be hit with stiff financial penalties.
- You still have to pay maintenance fees. This may seem like a no-brainer to some people, but timeshares can be confusing. Always remember that you are responsible for paying your timeshare maintenance fees regardless of whether you rent out the unit, can’t use it one year, or have never used it.
- It’s a headache. Like many aspects of owning a timeshare, renting it out is a complicated process. You will be responsible for cleaning the room, pricing your rental, advertising the rental, and vetting potential renters.
- The timeshare rental market is CROWDED. Much like the timeshare resale market, the timeshare rental market is crowded with people who had the same idea as you. The timeshare rental websites alone number in the dozens. It’s a matter of supply and demand: if there are thousands of timeshare owners advertising their unit as a rental, do you think there are thousands upon thousands looking to rent a timeshare? Also, if your timeshare is not highly desirable, you will have difficulties finding a renter.
So what can you do? If you’re being hit hard by maintenance fees and are looking for a way to lessen the blow, then by all means look to rent your timeshare. However, if you are saddled with an unwanted timeshare that you no longer use, Timeshare Advocacy International can help. We’ll provide a free consultation to find you the best option for getting rid of your unwanted timeshare, even if that means not using our cancellation or deed transfer services. Schedule your consultation here.
Timeshares are Bad Financial Investments
Have you ever wondered why timeshares lose so much value?
If you are a timeshare owner who purchased from a timeshare developer, you probably paid anywhere from $16,000 to $22,000 for your timeshare. This is the average range of timeshare prices, since the national average timeshare price is $19,000, according to the CEO of the American Resort and Developers Association (ARDA).
ARDA has also provided a study about timeshare resale price which can be found here.
This study shows that the median timeshare resale price is $9,000, while 20% of purchasers paid LESS THAN $1,000.
So why do timeshares lose so much value?
First, a timeshare’s value is not a financial one, and never has been. The only value a timeshare has is a personal one for the purchaser. If you think you will enjoy using the timeshare with your family, then perhaps paying $19,000 for the right to use a resort unit for a week may seem reasonable. If you don’t buy into that emotional sales pitch, then you probably won’t ever see timeshares as investments.
Second, timeshare developers inflate the price. They inflate the price A LOT. Because a timeshare’s value is really dependent on your perception of the product, the developers have to make sure you believe them when they say a timeshare will be a “good investment”. To do so, they spend inordinate amounts of money on advertising and marketing. A timeshare’s final price is 43% marketing costs! That’s almost half of your purchase price gone in one fell swoop as far as actual monetary worth goes.
Timeshare salespeople are fond of calling timeshares “good investments”. If you hear this at a sales presentation, beware. A timeshare will depreciate in value as soon as you sign that contract. If you still need proof, check out eBay’s timeshare listings. Hundreds of timeshares are being sold for around, or less than, one dollar!
The moral of the story, if you really feel like you need a timeshare, and feel it will be an investment in you or your family’s happiness, purchase on the secondary resale market. If you’re stuck with an unwanted timeshare that you were told was a good financial investment, Timeshare Advocacy International may be able to help. Give us a call today at 877-350-7052 to schedule your free, no-obligation consultation with a timeshare expert.
Timeshare Cancellation Success Story
We helped cancel this timeshare contract, could you be next?
When Donald and Ellen M. attended a timeshare sales presentation in Las Vegas, they were under the assumption that it would be a 90-minute meeting with honest sales representatives. Instead, they sat through a two-hour long presentation that misled them into making a timeshare purchase they ultimately regretted.
Donald and Ellen were unable to make an informed decision about their purchase because the signing of their contract was so rushed that a notary had already stamped the document before they even picked up a pen to sign. They did not receive important “small print” legal information until after the fact, information that would have prevented their purchase in the first place.
The sales reps told Donald and Ellen that they could call the timeshare company at any time for help in scheduling a time to use their new purchase. Any attempts to carry this out after they signed the contract were fruitless and frustrating.
In addition, they were told that exchanging their timeshare for weeks at other resorts would be easy and without any additional fees. In fact, there are more annual fees associated with this process.
The sales reps promised that the timeshare would pay for itself in time, that it could be rented out for high rates when not in use, and that it could be borrowed against like a second mortgage.
They were assured that their maintenance fees would be a set price, and would not increase, but in fact their first bill was for more than stated. The sales reps rushed through the contract and dismissed questions as unimportant.
Donald and Ellen, unfortunately, seem to have encountered almost every deceptive sales tactic that timeshare sales reps will employ to make the sale.
Even worse, after their bad experience with the timeshare company itself, they lost even more money to a timeshare resale scam that promised to rid them of their timeshare but instead just left them with the bill.
Fortunately, Timeshare Advocacy International was able to help Donald and Ellen to cancel their contract and once and for all rid them of the financial burden.
Here’s what Donald and Ellen had to say about their experience with TAI:
“Thank you so much for all the help you gave us during the process of getting out of our timeshare. When we came to you guys we were at our wits end dealing with the stress of trying to sell our timeshare. We had spent thousands of dollars with companies claiming to help us sell our timeshare but none of them ever bothered to really try and help us. They were only after more of our hard earned money. You guys came through. You worked closely with us to get things done. You took the time, every time, we needed you to get us what we needed and you never dropped your resolve to help us. We can’t thank you enough for the work you did to help us and the amazing knowledge that your company has in this industry. Anyone wishing to get out of their timeshare contract should have no doubt that Timeshare Advocacy is the company for the job. I would recommend you to anyone that needed help.” – Donald and Ellen M
If you recognize aspects of your own timeshare story in that of Donald and Ellen, give TAI a call today to schedule a no-obligation consultation and see if we can help you rid yourself of the stress and financial burden of your timeshare contract.
Timeshare Cancellation Leaders 