As we continue the discussion about the sales practices of the timeshare exit marketplace, keep in mind that not all products and services here are bad. Often times, the narrative surrounding companies like ours is negative, resulting in a skewed perception. So we thought now was a good time to remind you that there are businesses out there that genuinely care about your vacational bliss. While it is rather disappointing to acknowledge the deceitful tactics many individuals choose to partake in, it’s also quite refreshing to know that a little research will go a long way. There are a multitude of ways fraudulent companies lie to fractional owners. But understanding what’s actually true will help you make intelligent, confident decisions regarding your timeshare.
As a vacation owner of an expensive property, you have to realize that there is all kinds of public misinformation about the purchase. It’s very difficult to come across accurate data or unbiased articles and reviews. Even when you’re lied to, there’s always some online user willing to back up the deception. In most cases, they’re compensated or rewarded for their involvement. If you own a weekly interval on a perpetual term, finding a resource that’s only interesting in outlining the facts should be a priority of yours.
By discussing the trickery of the timeshare exit marketplace, we hope it allows you to avoid pitfalls and trust our advice. At the end of the day, we’re not interested in harassing you to cancel your agreement. We’d rather guide you towards an ideal and reasonable solution. In the meantime, here are some additional ways that illegitimate cancellation companies mislead potential customers.
The Sales Pitch Never Actually Scratches the Itch.
Similar to the acquisition strategies of destination resorts, the timeshare exit marketplace views the initial sale as the most important step of the transaction. Once you’ve proceeded with an agreement, they now have all the leverage. Whether you’re attempting to resell the property or cancel the mortgage, the downpayment is never cheap. Owners that commit to an exit strategy usually stick with it for too long because the initial investment forces them to remain hopeful. While it may seem like an ignorant thing to do, any uninformed owner would do the same thing. Especially when promises are made during the sale.
1. Unexpected Outcomes and Charges Add up.
The problem is, every level of assurance given during the pitch typically leads into another sales opportunity that surfaces when things don’t pan out. We recently published a news article that explained how phony resellers in the timeshare exit marketplace claim to have eager buyers, but they disappear before the sale goes through. This gives the resale company an opportunity to sell advertising and other add ons to “improve results.” Thousands of dollars can be collected before the timeshare owner even realizes that selling the property was a bad idea. All of which transpired because they were led to believe willing buyers were readily available.
A similar approach is often used by fraudulent companies claiming they can help owners legally get rid of agreements. Once a commitment has been made, they continue asking paying customers for more time and money in order to work with the resort. Sometimes, they even throw in unexpected complications to collect even more. Since the cancellation process is known to take a while to conclude, scam artists are able to invoice desperate owners for a long time before abruptly abandoning them by abolishing the business or filing for bankruptcy.
2. Service Limitations Are Rarely Disclosed.
We believe it’s safe to say that none of the fractional owners taken advantage of by scams in the timeshare exit marketplace saw it coming. They counted on the company selling them relief to come through. Unfortunately, most services in this realm will tell you anything to get the ball rolling, we call this the “hope” pitch. Another way they victimize fractional owners to their benefit is avoiding full disclosure. For example, canceling a timeshare agreement doesn’t always eliminate the financial responsibility you have to a bank. Many relief programs don’t advertise this, but they can’t do anything with monetary amounts that are financed through a third party.
Unless the timeshare loan is borrowed through timeshare affiliates or the resort itself, most of these operations aren’t properly equipped to terminate an agreement. Timeshare owners rarely think to ask if third party financed amounts are covered. Any level of understanding here would save them from making an ill-advised decision. When disclosure isn’t requested, it’s very easy for crafty businesses to collect payments from owners then protect themselves by blaming the resort or a third party for a failed cancelation.
3. Worthless Solutions Waste Time and Money.
Recently, a growing number of companies in the timeshare exit marketplace have marketed an ability to overcome third party loans. Even though they say they can get people’s money back, there’s no way that guarantees like these can be made. Unless they assess the contract and loan itself, there’s no way of knowing what can transpire. These types of services are simply charging people to contact the bank in an attempt to persuade them that the timeshare expense wasn’t authorized or agreed to. If the timeshare responds to the claim with proof of your signed contract, then the dispute will be denied.
If you’ve ever filed a complaint like this with your bank, then you know that it can sometimes take a few months to conclude. There’s no telling what a greedy cancellation ploy will charge you for in the meantime. The evolution of these “businesses” usually derive from those that failed in the past. Like we mentioned before, our industry is known to recycle customers with new offers that cater to previous disappointments. This is just another example. The point is, the sales pitch can be extremely deceiving. They know exactly what you want and need to hear. If you don’t know what to ask and you’re uneducated on the purchase, it’s best to wait until you’re better informed before buying in.
Random charges like closing costs, transfer fees, and legal expenses are often used to increase the total amount due at any given time. No matter how much reassurance is given, regarding the maximum price you’ll pay, a lack of evidence should compel you to walk away. Listening to, getting excited about, and buying into a sales pitch will only get you into trouble. No matter how compelling the presentation is, you have to be able to look at the facts. If they’re unwilling to guarantee a specific outcome in writing, then nothing about the service should produce any type of optimism.
Qualification Shortcomings Lead to Disappointment.
For anyone helping fractional owners escape perpetual contracts, we believe the single most important step is qualifying them for the service. Far too many businesses in the timeshare exit marketplace predicate their success on conversion rates. In other words, their objective is to acquire as many paying customers as they can, whether they can help them or not. This is extremely short-sighted and one of the main reasons why the reputation of the industry has been consistently bad. It’s extremely irresponsible for companies to collect payments before assessing the situation.
1. What Some Fractional Owners Need to Hear.
Often times, timeshare owners don’t even know the resort has them under multiple contracts with differing agreements. During our qualification process, we frequently stumble across additional financed amounts or credit lines that the buyer had never seen before. Some owners simply have no basis for cancellation while others could easily work things out with the resort. If there is only a year or two left on a right-to-use contract, waiting it out might be more ideal. When there is a reasonable offer on the table, most people just need to hear “take it” from a trustworthy source. Unfortunately, it’s more convenient for them to pay someone to tell them what they want to hear.
Companies that lead people to assume their process is the best option – when it’s not – are doing the timeshare exit marketplace a huge disservice. People deserve full disclosure. If fractional owners are not prepared or equipped to handle backlash or further consequence from the resort, then they have no business paying to get out of the agreement. Despite high failure rates, many exit services just don’t care. They’re in business because they’ve been able to consistently persuade desperate people.
2. Eventual Costs Are Rarely Presented.
Selling hope pitches or failed promises, just like the timeshare, convinces unhappy buyers that they need to act now. Even if it doesn’t work out, they still get paid. Unethical companies in the timeshare exit marketplace know they can charge more when additional contracts or credit lines are found. Instead of allocating everything on the front end and presenting an accurate proposal, they slowly send invoices and rarely follow through. The more complicated a timeshare owner’s situation is, the easier it is for the exit company to cash in without fully completing the job. This generally leaves owners worse off than they were before.
For this reason, consumers should never be drawn to price in the timeshare exit marketplace. Unless you’re able to break down the entirety of your agreement before shopping around, it’s naive to assume anyone will give you an accurate quote. This is why we take pride in offering free consultations before the details of our service are even presented. Vacation owners deserve a chance to see the reality of their situation so they know what it’s going to take to get out of it. While we believe this to be extremely valuable, some owners still allow themselves to be sold by appealing offers. Sadly, many of them return to VOC with even more debt.
What to Ask, Why Compare and How to Know?
When looking for a way to get rid of a timeshare, your first question should never be “what is the cost?” It should be “what is your process, how does it work and what can I realistically expect as a successful outcome?” Remember, low prices are always deceiving. This is why it’s important to participate in as many interviews as possible. Be prepared to hear “today only deals” and don’t let incentivized deals influence your decision. In most cases, you’ll be able to tell who’s really interested in helping you based on the interaction. A lack of professionalism or an aggressive nature should be a good preview of what’s to come.
Either way, no matter how good the sales pitch is, you have to take the time to research the business itself. On the surface, many scams do a great job with legitimacy – but in reality, it’s all a mirage. Those willing to investigate leadership, employee reviews, past partnerships and the validity of the business as a whole are usually glad they did so. Nearly every scam could have been avoided with a little effort.
At VOC, we’ve committed to doing some of the legwork for you. While the reputation of the timeshare exit marketplace may make it difficult to trust our intentions, we want you to know we care. At the end of the day, our goal isn’t to acquire as many customers as we can and mislead them along the way. We’re only interested in helping struggling vacation owners find a resolution they can hang their hat on. For more information on our attorney based process or to speak to one of our representatives, you can schedule a free consultation or proceed with the qualification form below.