There are many reasons why people need or want to stop using their timeshares:
- Health issues prevent use.
- Age prevents use.
- Financial issues prevent use:
- You missed one or more year’s assessments and it is no longer feasible to pay it all off and reinstate your usage rights. Especially when you can purchase a comparable unit on ebay for less than one year’s assessments.
- So long as you continue to accrue unpaid assessments the resorts are reporting you to credit agencies and damaging your credit worthiness.
- Lost your job and can no longer afford it.
- Resort has raised annual assessments beyond the value of the unit per year.
- Annual deposit and transfer fees plus membership fees and annual assessments exceed the value of a year’s vacation at comparable alternatives.
- You can rent similar units for less than the annual cost of owning the timeshare.
- Other problems, disappointments and difficulties:
- Frustrated with unsuccessfully attempting to exchange for other units.
- Children grown or moved away so, it is no longer useful for family vacations.
- Dissatisfied with inflexibility of not being able to cancel the use or bank the week when last minute disasters hit and prevent you from using it.
Resorts treat you like their personal trapped donkey.
Others will try to convince you to:
- Waste hundreds of dollars listing your timeshare with a broker who promises there is a market & s/he will sell it for you, only to take your money as often as you are willing to renew their listing that will never sell.
- Pay thousands of dollars transferring it to a company that will
essentially do what we do at a fraction of the costs.
- Do nothing & let your resort fees continue to accrue while your resort threatens to, or does, report your delinquency to a credit rating agency to damage your credit and possibly foreclose on your ownership further damaging your credit.
You May Wonder How a Timeshare Foreclosure Will Affect Your Credit Score?
Per NOLO a timeshare foreclosure will cause your credit score to drop, which will affect your ability to get credit in the future.
How did your timeshare go from something you were told had great value, was transferable and for which you paid a lot of money turn into something you can’t sell for a penny? Timeshares changed. Now we provide the best Solution to your dilemma.