Getting rid of your timeshare can be hard. You may have a feeling you are trapped, you may feel that the contract is a one-sided agreement, or you just want a way out. These are common reasons why you might hire a timeshare exit company.
Timeshare exit companies may offer to help you legally cancel your timeshare contract. However, many of these companies are just scams. Some of them will charge you up to $10,000 for the service.
These companies are not regulated. They may charge you a flat fee, or they may charge you a percentage of the value of your timeshare. You’ll find dozens of these companies advertising on the Internet and radio. Some even promise a money-back guarantee. But that’s meaningless to scammers.
You should look for an exit company that has a good reputation and has a good BBB rating. You’ll also want to find out if they offer an escrow payment option. This is the safest option. The escrow payments ensure that you receive your money back if the service does not work.
If you suspect that you’ve been a victim of a timeshare exit scam, you should contact the Federal Trade Commission and the state attorney general. You can also file a complaint with your local consumer protection agency.
Some companies advertise a money-back guarantee that they will sell your timeshare. That’s great if you can get a refund, but the companies often fail to deliver on that promise.