Exit or get rid of ANY Timeshare for FREE! Guaranteed! Avoid exit/cancellation schemes and lies!
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- čas přidán 22. 08. 2024
- This episode of Talking Timeshares discusses the only 100% guaranteed Exit solution for getting rid of an unwanted Timeshare.
The information in this video is a must watch for any timeshare owner, especially one considering utilizing an exit or cancellation company for help with the disposal of a Timeshare!
As with all our videos, exposing the truth will save you an absolute fortune as well as potential stress, headaches and or nightmares about making yet another timeshare mistake!
also check out our free guide on the 3 options all owners have to get rid of an unwanted timeshare. they really are quite simple and available to any owner: tug2.net/times...
Official TUG website: tug2.net
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Timeshare Marketplace: tug2.com/times...
Free owner forums: tugbbs.com/forums
I was having problems with my time-share years ago due to medical problems and I did just what you said, I stopped paying. It was a load off my shoulders.
We are very sorry that your situation was so dire that you were forced to take this step, and that the resort or management company didnt make an effort to work with you or provide an alternative solution. However when it comes to putting food on the table or paying medical bills...vs paying for a Timeshare. Thats an easy decision to make!
I wish I had known about this before being scammed & then the resort would not work with me when I told them I was in a hardship situation. The scammed company is no longer in business. I stopped paying because I no longer have the extra money covid hit & was laid off & still struggling to make monthly bills. A timeshare is not a necessity. My rent & food is now my priority because I am on a 65 yr old fixed income. Now my credit is a mess because of it. :(
this is a very common story from folks who hire upfront fee exit companies for sure. its frustrating to learn the solution you paid for not only could you have done yourself, but in fact can hinder your chances of truly getting out of it without significant penalty. people who just stop paying on their own are actually BETTER OFF than hiring an exit company to do the exact same thing for this very reason.
Howdy , just singed and realized I most likely should not have done this . I'm within the 5 day grace period. I've sent certified mail to all parties involved, emailed all parties of cancelation. What should I expect over this 5 day grace ?
Congrats on rescinding and saving a fortune! they actually arent under any obligation to contact you, just cancel the contract and refund any monies paid within 45 days. just retain proof you mailed it off on time!
Cancel, it's a nightmare
What about a law firm , especially the one which has good BBB rating and reviews and won a recent lawsuit against exploria
do you have a legitimate case that you can prove a law or statute was violated by the resort in regards to your ownership? that is a much different situation than wanting to simply get rid of your timeshare or stop paying for it.
IF YOUR TIMESHARE IS PAID IN FULL AND FEES ARE CURRENT, you may be surprised that many companies will just take it back or charge a small fee to do so. YOU - DO - NOT - NEED - A - SCAMMING - "EXIT" - COMPANY. They serve no purpose, NOTHING, ;that you can't do yourself. YES that 100% "guarantee" includes foreclosure if that's the only way. I KNOW, I was in the business.
we always advocate the first step is to reach out or research to see if your resort or developer offers a surrender program! Even if one is not publicly announced it never hurts to ask! tug2.net/timeshare_advice/give_back_timeshare.html
So I wonder what the consequences are if you just stop paying the fees? I just ask because I’m not from the United States or Canada, I’m from Europe. So what I read or here was you can get a negative credit score but here in Europe can I get it too?
There are no "international" credit bureaus no. Debt almost universally does not transfer across international borders. or if its even possible, its likely far more expensive and troublesome than its worth, especially for timeshare maintenance fees.
I was in the resale business. That 100% guarantee by an "exit" company includes possibly a foreclosure. All you have to do is stop paying.
If I just recently bought within last year. Was lied to. How do I exit without defaulting on 15k. Haven’t used the thing once. Any options?
Unfortunately there arent really any good options for exit if you just bought and still have a loan balance. you can certainly attempt to try to rescind outside your legal rescission period but the chances of that are low. you can try to become a squeaky wheel and complain enough that they let you out of your contract, but the chances of that are also low. both these options chances increase if you have some sort of documentation or proof that you were lied to or mislead during your presentation. If that is the case then you should absolutely leverage that in your attempts to rescind or otherwise cancel your ownership as well as report your story and facts to the appropriate state attorney generals offices! Outside of that, the only options to exit are to pay off the loan and give it away/give it back...or default! note that as mentioned in the video, these are the same strategies used by exit companies to get you out of your timeshare.
I appreciate the video. I think I have a plan to unfortunately pay for this terrible financial decision. However, is there success in giving it back without defaulting? Or is that subject to the company being courteous or not? Just trying to get my ducks in a row when my “mortgage” is paid off. Thank you again for what you do.
@@Omicraze if you have a legitimate hardship situation (medical/financial/etc) some resorts have been known to work with you in that regard yes. however other than that or becoming a squeaky wheel on social media and such or filing a complaint with attorney generals offices (assuming you have a legitimate complaint to file) there are not any real good options for making that loan balance disappear other than defaulting on it. that said even though the chances of success for the hardship/squeaky wheel suggestions are low, it costs you nothing to try!
Hi. Thank you so much for this video. I have a question. I stopped paying months ago due to hardship. We don't have intention on keeping it now, more stable . We owe on the fees and mortgage/loan. They offered a forclosure. Sent us an affidavit and im lost. I think its meant to surrender the mortgage.
I dont have a good answer for you here without seeing what was in the document they sent you. I can say that resorts usually dont "offer" you a foreclosure vs notify you they are pursuing foreclosure or threatening it etc. in most cases an offer from the resort would be more along the lines of them offering for you to sign the ownership back over to them willingly and some form of settlement or similar for them to reduce or waive the outstanding debt you own.
@@TimeshareUsersGroup I'd gladly sign it back over to them if it was offered if that would help my credit.
@@pearlrichardson4179 I doubt that signing it back over to them is going to make the credit ding go away once its already been reported, but your credit should repair itself over time and you can petition or dispute the ding to the credit bureaus if you work something out with the resort down the road!
What about the effect on your credit rating?
depends on what you are defaulting on (maintenance fee vs loan), the amount of default, and who the company or creditor is. it certainly CAN get reported to the credit bureaus just like any other default. here is a good read on actual statistics taken from owners who defaulted. tugbbs.com/forums/threads/2022-timeshare-default-credit-report-collection-tracking.304138/
I was just sweet talked into buying one of this things and i want out. I sent the letter of cancelation one to two day's late. Think i still have a shot of getting out or what would be the cheapest way to get out of it?
Very sorry that you missed your rescission period by a few short days, honestly we would still try to cancel using that angle and be vocal about it on social media/etc! While they are under no obligation to let you out past your rescission period, some resorts have been known to honor your cancellation request if its just outside the window and it costs you nothing to try! Outside of convincing them to let you cancel you dont really have any good options to end your ownership. pay it off/give it back or default!
Maintenance fee can i stop paying they put me on collections already and said the will keep changer me every year
being turned over to collections is an expected (though not guaranteed) result of defaulting on payments yes. What those collections efforts have the ability to do differs greatly depending on a variety of different things (covered in our other video on what happens if you stop paying for your timeshare)
I have stopped paying maintenance fees have had a few harassment calls now they have contacted the ex wife because her through the devorce I had the honor of keeping the time share Her lawyer never took her name off the deed andof course they scared her so now they are trying to force me to pay the maintenance up what should I do
It is true yes that anyone on the deed will be subject to collections efforts and credit dings! You have the same two options you did before, pay what you owe or continue to default. Would urge you to repeat with all your communication to the resort that you wish to surrender the ownership back!
Ok thanks but what do I need to do, timeshare paid off but maintenance fees are behind , trying to get out for good. Is it something I can file myself? Timeshares are such a scam !!
Isnt anything to file. If you are already delinquent in your payments your options are either to pay the past due amount and then try to give away or give back your timeshare, or continue to stop paying and await the resort/developer to take action from their end.
Why wouldn’t they sue you for a simple breach of contract. The contracts are pretty iron clad or there wouldn’t be so many with this issue.
the cost of litigating such a dispute would far exceed the amount in question, and the timeshare companies themselves are well aware of the actual resale value of what they are suing over. Especially when the owners are more than willing to surrender the ownership back already.
@@TimeshareUsersGroup thank you so much. It is great that you reply to each of your comments. It is really appreciated.
you are most welcome! The goal of every one of these videos is to help and educate owners! TUG exists for that very reason and we make a point to answer any and all timeshare questions!@@davidis7
Hey TUG, last year me and my girlfriend purchased a Timeshare in Mexico I still owe 8000$ before it’s paid off , they only did a credit check under my SS but we are both on the contract. I want to completely stop paying but I don’t want her credit to take a dive in case it’s does happen what could I possibly do?
if you are both listed on the ownership and or signed the contract, both of you will be subject to being reported for the delinquency should that happen yes.
@@TimeshareUsersGroup in that case because my girlfriend is Mexican and has family in Mexico would it be better for us to get a Mexican law firm/ Lawyer that does cases like these and knows the PROFECO laws which could get us out of the timeshare especially if that decides to sue since the Mexican lawyers will most likely be present?
@@nataportillo1020 are not aware of any legitimate timeshare lawyers in mexico no. profeco exists to help owners who have been scammed, i doubt they are able to provide any assistance with your outstanding loan balance.
What if I recently just sign up and the cancellation timeframe to cancel passed and the first payment is due next month? Should I not pay at all to begin with?
would suggest at least attempting to follow the directions in your sales contract to rescind, though the chances of success are unlikely! cost to try is very little given the possible reward!
Thanks! Awaiting their responses on that. Just don’t want to pay anything but worried my credit would be ruin and that Wyndham would come at me aggressively for their money even though I didn’t use any points and don’t plan on using it . Just want out!
I was told I can only resale through their certified exit- ownership resolution.
What do you think?
@@sekinatliasu3942 the higher the balance of the loan you are defaulting on, the greater chance of negative repercussions (collections efforts/credit report)
@@sekinatliasu3942 nonsense, though sadly wyndham points depreciate 95 to 100% the instant you buy them and have no significant resale value. certified-exit is wyndhams surrender program, not a resale program.
I bought into a Timeshare Exit company (scam / so dumb of me). Now not sure what to do!
well if you have just recently done that I would re-read your contract to see if a cancellation period exists and then try to cancel. if that isnt an option, you can still request to cancel but odds are they will simply refuse. becoming a squeaky wheel on social media, the BBB, attorney generals offices, or other such outlets can work in your favor but in most cases obtaining a refund is just as difficult as getting help from your timeshare in the first place!
here is a thread where a TUG member reported success in getting a refund from an exit company by disputing the charge with their credit card! tugbbs.com/forums/threads/corporate-consulting-associates-in-wyoming-question.357350/page-2#post-3017636
Why can’t I read the comments nor forward this to my husband??
not sure, the share button at the top should provide you all the options to forward, or copy the direct link! czcams.com/video/a-s3smw4Bvk/video.htmlsi=2thbz04hE6IOyP8I
Thanks so much for all the information!
you are most welcome!