Should You File Bankruptcy to Eliminate Timeshare Debt?

Should You File Bankruptcy to Eliminate Timeshare Debt?

For the most part, timeshare ownership is believed to be a cost-saving, enjoyable purchase that’s fruitful year after year. Nobody signing the dotted line expects anything less. While a satisfactory experience does play out for some buyers, the exact opposite occurs for others. When disgruntled owners give us a call to talk about their regret, a common question they ask is if they should file bankruptcy to eliminate timeshare debt. While we believe this is an irrational take, we have to understand why they’re willing to take such desperate measures to get out of a timeshare agreement.

How would you feel if you thought you bought a $20,000 timeshare then later found out at the time of the mortgage maturity it was actually going to cost $55,000 due to annual fees, interest and taxes? What would you say after realizing your annual payment obligations continued for life, even after you paid off the timeshare mortgage? How would you feel if you couldn’t book your desired location, time or even something comparable to what you thought you were paying for? Let’s just say emotions run pretty high once buyers recognize the ploys. What makes matters worse is the simple fact that a majority of solutions are meant to keep timeshare owners trapped in their contract. 

Once they make a decision to pursue some form of relief, they’re commonly ripped off by 3rd party agencies that prey on their vulnerable state. Whether or not they’ve attempted to sell the property or legally get out of the timeshare contract, failed attempts to escape fractional ownership can create uncertainty – which may create even more vulnerability. When owners become driven by their emotions, they become even more susceptible to scams that specialize in deceit.

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We Want to Help Fractional Owners Avoid Bankruptcy.

Aside from a number of devastating financial blows, these real-life experiences cause some timeshare owners to believe extreme measures are necessary. Because of what they’ve been through and all of the relief scams that flood the market, timeshare cancellation is rarely viewed as the logical solution. But it most certainly is. They just have to put the time in to find a company that actually knows how to get out of timeshare contracts and cares about their quality of life. This starts with an ability to identify scams and unfavorable outcomes, like bankruptcy.

Knowing that some fractional owners file for bankruptcy with the hopes of escaping the clutches of timeshare ownership is disheartening. Consumers should never have to think about taking such a blow just to eliminate their sense of hopelessness. But you can’t really blame them. Even though most owners aren’t interested in legally canceling their agreement, we want to help them understand why they shouldn’t file bankruptcy to eliminate timeshare debt. 

If we can reach one person on the verge of making a life-altering decision, it’ll be worth it.

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Is Filing Bankruptcy Over a Timeshare Worth it?

When a fractional owner starts throwing around the term “bankruptcy,” it’s pretty obvious they’ve gotten in over their head. It’s not something that’s commonly brought up in the timeshare industry until threats of a foreclosure are involved. Based on the conversations we’ve had, financial hardship is rarely the reasoning. It’s the feeling of entrapment and mistrust that provokes their desperation to get out from under the timeshare constraint.

Many don’t even know if they would qualify to wipe out the existing debt of the purchase. They simply want to stick it to the resort. While speaking to a lawyer about the legal process could be helpful, expecting a legal teams to consider your best interest is risky. If timeshare owners were to take the time to really think about the decision, would they really file bankruptcy to eliminate timeshare debt? Are they willing to deal with possible embarrassment and endure purchase limitations for the next 7-10 years?

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Most people wouldn’t deem this a viable solution if they knew the facts surrounding a quality timeshare exit strategy. This is why it’s so important that you speak to legal counsel with experience with timesharing. Our timeshare cancellation services aren’t temporary fixes, we use an attorney based process that actually terminates your future obligations. It’s important to understand that bankruptcy could potentially be a temporary fix as it only eliminates past debt, not future debt. After speaking with a few of our contracted attorneys, we’ve compiled some additional reasons why it’s a bad idea to file bankruptcy to eliminate timeshare debt.

Real Attorneys with Real Outcomes for Timeshare Bankruptcy

Diving off the deep end before you know how to swim or what’s in the water is a bad idea. Educating yourself on the actualities of filing for bankruptcy is an important step that should be completed before consideration presumes. There’s no need to waste time on the pursuit of a bankruptcy claim if it’s clearly unrewarding. With that being said, here are some questions our partners wanted timeshare owners to chew on:

  • Do you want to accept the risk of having an inability to obtain a loan for the next 7-10 years because you filed for bankruptcy? Your ability to finance a home, motor vehicle or even a computer can be hindered due to this decision. If you’re willing to endure anything to get rid of a timeshare then there’s no reason cancellation methods should be out of the question. If you’re being stubborn due to an unfortunate encounter with an ineffective exit team, then ask yourself if protecting your pride and limiting your credit is more important than moving on for good.
  • Does your income even allow you to file for Chapter 7 Bankruptcy? A lot of time and money can be wasted on a claim if you’re not even sure you can wipe out the timeshare purchase. By proceeding with the process uninformed, you may find out that you only qualify for Chapter 13 Bankruptcy. This requires you to pay all or a partial amount of the debt over the next 3-5 years. Undesirable results can be the result if stubbornness is involved.
  • If you decide to proceed with a Chapter 7 filing and you don’t have a structured payment plan such as Chapter 13, will any of your assets be at risk? While you might successfully file bankruptcy to eliminate timeshare debt, your failure to make payments can be rather detrimental. Is there a chance you could lose your home with equity? If so, is this worth the risk to you?

Escaping a timeshare contract with a bankruptcy claim may seem advantageous to you, but it’s not as simple as you might think. While many people use bankruptcy as a way to start over, their decision usually surrounds a large failed business investment. Most people in this position aren’t left with much of a choice. Hitting the financial reset button because you feel trapped in your timeshare and are determined to get out is never a good enough reason. Especially when there are professional companies out there that truly care about helping you move on with your life.

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Our Contracted Attorneys Have Additional Timeshare Advice.

While the above questions should really help you determine if you should file bankruptcy to eliminate timeshare debt, our legal partners mentioned a few more things you need to know. 

  • Filing bankruptcy does allow you to wipe out old debt with the timeshare company, but you’re still responsible for future contractual obligations. In other words, your future debt will not be discharged and you may be required to pay for annual maintenance fees, taxes and other special assessments that accrue.
  • Timeshare bankruptcies will stop collection attempts and the harassment from the resort for old debt, however we provide an alternative option that inevitably blocks your timeshare company as well as third parties. Terminating the contract with a timeshare cancellation company like ours allows you to cease and desist communication while eliminating future obligations.
  • While bankruptcy may solve your current problems, there is a chance your heirs may run into inconveniences. Again, since the contract is perpetual (forever binding), it’s hard to tell who the timeshare company will come after for their losses.

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Eliminating Timeshare Debt Doesn’t Have to be Complicated.

At VOC, we take pride in offering professional services that consider the owner’s experience leading up to their decision to contact us. Unlike most exit companies in the timeshare industry, we make sure potential clients don’t feel pressured to get rid of timeshares. There are always additional ways to try to work things out with the resort.

If you feel as though you’ve tried everything and you’re ready to cancel your timeshare, we’d be more than happy to offer you a free consultation. In the meantime, we hope this article helped you understand why you should never file bankruptcy to eliminate timeshare debt. In the end, terminating the agreement for good will inevitably help you move on.

Benefits of Hiring a Proven Company to Legally Terminate Timeshare Contracts

Benefits of Hiring a Proven Company to Legally Terminate Timeshare Contracts

As of late, companies that legally terminate timeshare contracts have been placed under the microscope. More and more fractional owners are becoming wary of these types of businesses and rightfully so. While a good number of them insist on trekking forward with unethical intentions, our approach to timeshare termination has remained the same. Instead of investing in pressure-filled tactics that persuade unhappy buyers to cancel their agreements, we’ve committed to educating consumers on what they can expect from vacation ownership.

More often than not, timeshare owners are sold on resort solutions and exit services that just don’t provide them with any value. An emphasis selling and closing has become more important than customer satisfaction and the buyer’s experience. This has caused quite a bit of bitterness and distrust throughout the travel industry. Justification and finger-pointing-sessions have left owners without much to believe in. It’s one of the many reasons the outlook of timesharing remains in a constant flux. 

While the inconsistency of the purchase has travelers looking elsewhere for vacations, the unpredictability of timeshare termination has owners looking to legal teams for relief. Once the purchase is deemed a mistake, many buyers immediately believe that hiring a litigation attorney is their most logical solution. But as we discussed in our last article, embarking on a legal battle can be devastating if you’re claims are vague. Suing the timeshare is extremely risky when you don’t have a bounty of evidence and a lawyer that specializes in timeshare litigation. But all hope shouldn’t be lost if you can’t stick it to the resort with a lawsuit. There’s nothing wrong with legally walking away and moving on.

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Ultimately, your ability to successfully get out of a timeshare depends on who you choose to help you. If you find yourself trapped in vacation ownership, the best thing you can do is hire a proven company that takes pride in providing quality timeshare termination services. But in order to find a business of integrity, you have to know how to look. 

Since the thought of navigating timeshare exit fraud can be intimidating, we thought it’d be beneficial to expand on the characteristics of quality timeshare relief. Once you understand the advantages of hiring an attorney based company, like ours, you’ll realize the choice to legally terminate timeshare contracts isn’t all it’s made out to be.

1. Receive Full Disclosure Regarding Timeshare Relief.

When it comes to defining a quality relief program, disclosure is the most valuable trait. Quality operations take pride in explaining all of the options fractional owners have at their fingertips prior to reviewing the timeshare termination process. At VOC, we believe potential clients deserve to know there are opportunities to work things out with the timeshare company. But they need to know how to exhaust their efforts or they could end up making things worse. 

Proven companies make time to educate owners on things the resort may pitch as a solution. They don’t smear or discredit other 3rd party services. Those with integrity simply explain the facts. Educating potential clients on all relief options, as well as past and present scams, helps them understand the pros and cons of every choice. Aside from providing clarity amidst their distress, quality termination companies are transparent with owners which allows them to build rapport. At the end of the day, we’re all on the same team and have the same goal.

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At VOC, it’s important that unhappy buyers feel comfortable talking to us about their purchase. We want to ensure they can trust that we’re not going to pressure them into terminating the timeshare agreement prematurely. If they have a desire to cancel, the have to be confident in our process and the staff that manages it. Trusting the end result is a lot easier when doubt is eliminated on the front end. Establishing and sustaining a positive relationship throughout the experience is a huge advantage for not just the owner, but everyone involved.

2. Timeshare Termination Experience is Invaluable.

Over the years, we’ve been able to relate well with timeshare owners because of the amount of time we’ve spent getting to know previous clients. Often times, there’s an element of misinformation or deceit that has affected the buyer. Learning more about how they’ve been persuaded in the past helps us present them with ways they can avoid further letdown. Asking the right questions and organizing the facts also helps us paint a clear picture that points to the best escape route. But an intimate understanding of where our clients are isn’t the only thing proven organizations should bring to the table.

The timeshare industry is always evolving. Buyouts, bankruptcies and mergers can be confusing for many owners. These changes, for the most part, come at the buyer’s expense. While some people just need help navigating the arena, others have found their timeshare to be useless after pastime enjoyment. Not every relief company has the knowledge to provide assistance in these situations. Since owners are continuously mocked by timeshare representatives while their fees increase, they deserve an experienced outlet to turn to.

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Look, we believe a certain level of competency is required to legally terminate timeshares. It’s not exactly something everyone can do at a high level. Just because an attorney has real estate experience, it doesn’t mean they’re equipped to get you out of a timeshare. Just because someone promises to eliminate your obligation doesn’t mean they can or will help you in the aftermath of exiting your timeshare.

Some Companies Claim to Legally Terminate Timeshares But Never Stop Selling.

A proven company will never shy away from putting their experience on display. Their credibility is important to them and it should be to you. Inexperienced operations tend to specialize in excitement and disillusion. While establishing rapport may be easy for scam artists, validating their reliability is another story. This is why we like to put our experience to work for the consumer.

Think of it like hiring a tax specialist instead of preparing and filing taxes on your own. People in this profession eat, sleep and breathe their competency. It’s what they’re best at. Families and businesses often become susceptible to tax penalties or realize money’s been left on the table after filing themselves. Using a CPA can save them an awful lot of time, money and even grief. While any tax professional is an improvement over DIY, their level of experience is always considered during the selection process. After talking to different CPA’s, you can usually tell who’s more experienced. If the price was the same, why would you ever go with the inexperienced option?

The same should be considered when selecting a timeshare cancellation company. Our founding partners came from the travel industry and used to specialize in providing a travel solution that was in direct competition to the timeshare industry. They saw first hand how timeshare companies were taking advantage of buyers and developed a passion for helping them. The driving force behind VOC has never been money.

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If you analyze our company makeup, all legal processes and documentation derive from real estate litigation and class action success in the timeshare realm. Each of our contracted attorneys also has extensive litigation experience within the timeshare industry. We believe this proves to consumers that we’re competent and reliable in our ability to legally terminate timeshare contracts. It’s important to us. We only care about creating advantages for fractional owners and we’re not interested in additional revenue streams that take away from our client’s experience. Hiring a company with this level of experience and standards is invaluable.

3. Be Prepared for the Aftermath of Your Decision to Cancel.

Many people don’t realize how overwhelming terminating a timeshare contract can be. But it’s not always because exit companies are aggressive and demanding. The backlash from the timeshare itself often bombards those looking to get rid of the purchase. Scare tactics are commonly used by the resort so timeshare owners will change their mind or second guess their judgement. The abolishment of a perpetual agreement that’s set to pay them tens of thousands of dollars over the next few years isn’t something they take lightly. 

If a timeshare owner isn’t prepared, they can easily be swayed back into the prison cell of their agreement. Sadly, many on the verge of timeshare freedom are sucked back in by another “can’t miss” offer that inevitably falls apart. Keeping clients focused on the end goal is a big responsibility for timeshare exit companies. The good ones are able to guide owners through the muddy waters.

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Once the resort knows one of their owners is working with a reputable termination company, they’ll likely do what they can to make the process difficult for you. Timeshare employees have even been known to make threats for the sole purpose of earning a commission to retain a disgruntled owner and keep them in compliance with paying mandated, increasing fees. Collection attempts and judgement claims can be a big distraction to owners. The ability to anticipate deceit and block malicious attempts is extremely beneficial to those looking to cancel. 

Aside from full disclosure on the front end, we focus on legally protecting our client’s rights while battling anticipated harassment from the get go. Not only do we communicate with those looking to further mislead them, we react to the backlash of the overpowering resort. Any company that says they can legally terminate timeshares should be able to do the same. The aftermath of the decision to cancel can be disheartening when owners are forced to face it alone. Communicating what they can expect and shielding them from the abuse is a pivotal characteristic of a quality relief company. Who wouldn’t want assistance here?

4. Proven Companies Have an Abundance of Resources.

A number of resources are required when it comes to successfully terminating timeshare agreements. It’s why so many exit companies fail. Competing with timeshare conglomerates is tough to do when you’re a small operation or start up business. Tools, in the form of technology, processes and strategic partnerships, play a big role in a company’s ability to legally terminate timeshare contracts. While it may be difficult for fractional owners to determine who actually has superior systems in place, blogs like these should help them ask the right questions.

Over the past half decade, we’ve spent a lot of time building an ironclad process that specifically services our clients in difficult timeshare situations. We only utilize proven methods and don’t offer “a mirage of hope” like other operations do. Consumers need to understand that you can’t just make the decision to cancel fractional ownership with anyone. An inexperienced company may have a cheaper price tag, but the end result is rarely favorable. While an attorney’s high price tag may lead you to believe the service is high-quality, that’s not always the case.

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Although a majority of 3rd party agencies do a great job of masking their deficiencies, there are ways to pinpoint deceit. Understanding how to identify scams while discovering competence can drastically enhance your overall experience. The last thing you probably want is added regret to your current remorse. 

If you’re ready to move on from the hard truth of your purchase, then consider finding a company with the above benefits. Full disclosure and access to an experienced company that cares about you provides you with everything you need to legally terminate a timeshare contract. If you’d like to visit with our staff or learn more about how we get out of timeshares, you can always schedule a free consultation or proceed with the qualification form below. In the end, we hope you’re able to enjoy vacationing the way you always envisioned. Ask us how we can assist with your future travel needs as well, our goal is to build a long term relationship with our clients.

The Disadvantages of Using Timeshare Litigation Attorneys

The Disadvantages of Using Timeshare Litigation Attorneys

Over the years, vacation ownership has been able to thrive because of aggressive expansion efforts and evolving membership programs that provide travelers with options. Above all else, a consistent emphasis on sales has given timeshare developers a tremendous advantage. But the booming of the industry hasn’t just impacted resort teams. It’s also padded the pockets of a 3rd party relief agencies and even a number of timeshare litigation attorneys. The amount of money that flows through this choice of vacationing is astonishing.

Although it may seem like an awful lot of buyers eventually want out of their contract, consumer appeal remains. Sales organizations know how to paint a pretty picture even if the product isn’t an exact match. If people knew how much capital was poured in acquiring fractional owners they’d be shocked. Millions of dollars are spent annually on advertising campaigns and strategic partnerships that focus on luring consumers in to make the purchase. Sadly, many buyers quickly realize timeshare developers don’t put the same level of emphasis on the customer experience. After being wowed during the presentation, many are left less than impressed.

There’s a reason an excessive amount of effort goes into building intrigue. Once the rescission period passes and buyers are locked into a perpetual agreement, timeshare companies can basically do as they please. This causes many new buyers to immediately seek out restitution if they feel as though they’ve been severely wronged. But most resorts don’t feel sorry for buyers that failed to read the contract they signed. In fact, they’re more interested in talking them into spending more in an attempt to make the purchase worthwhile.

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Unhappy Timeshare Owners Rarely Know Where to Turn.

After buyers realize they’re only a small part of a large pool of dissatisfied owners, a sense of hopelessness begins to settle in. No matter what they read online, it’s difficult to tell what’s really true. The misleading statements and flat out lies they’ve already experienced have them feeling skeptical about anything and everything. Normally at the time of receiving their annual maintenance fees in the mail, regret resurfaces and the owner decides they’ve had enough. Researching timeshare litigation attorneys seems like a no brainer at this point.

If the timeshare property is rarely available and the costs continue to compile, many owners believe legal action is necessary. You can’t blame them when nothing they were promised transpires. They usually feel like they’ve been scammed by the resort so the trust is no longer there. It may also seem like everyone else that’s trying to “help” only wants their money too. Whether it be resale, exchange, transfer or cancellation companies, they’re all known to harass vacation owners with the same tactics that timeshare companies use. Owning a timeshare can be quite an overwhelming experience when you want to get out.

So hiring an attorney to litigate against the timeshare company is the best option, right? Well, don’t be so sure. Even though legally pursuing the timeshare may feel like the best option, it can easily turn into the worst case scenario. Since you might assume we’re a little bias towards cancellation, let’s take a look at three reasons why we believe this to be true.

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Timeshare Litigation Drawback 1: An Uphill Legal Battle.

When it comes to battling the timeshare company in court, you have to realize the sales organization has a plan in place to protect themselves. You also have to realize their pockets are far deeper than yours are. Timeshare companies are more than willing to put excessive funds towards a defense. Unless you have an exceptional case against the timeshare company, your word against the executed purchase agreement will not be enough.

If you take the time to research consumer vs timeshare lawsuits, you’ll notice that a good amount of them are class action lawsuits. These include a number of victims with similar claims they’re able to prove. Not many people are able to successfully sue hospitality conglomerates on their own. The buyer’s acknowledgement of the purchase is evident in their signature. There isn’t much more the defendant (or timeshare company) would need to refute consumer claims.

Many timeshare companies record surveillance during contract signing sessions to prove buyers physically agreed. Even if they made promises that weren’t included in the actual deal, the odds are against you when you don’t possess evidence. Even if you really want payback, bringing a knife to a gunfight is a bad idea. You can save a lot of money by moving on and legally terminating your timeshare agreement with a reputable company.

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Timeshare Litigation Drawback 2: Excessive Legal Costs.

If you’re thinking about hiring a few timeshare litigation attorneys to milk the resort for lying to you then you better have some serious cash lying around. In most cases, people in these situations don’t have this type of dough. Some had no business buying a timeshare in the first place. Believing they can fund a lawsuit after failing to review contract terms is flat out irresponsible. Many people don’t even realize how much hiring a lawyer costs or what it entails.

Litigation attorneys usually require hefty retainer fees (deposits) that go towards researching your claims and building your case. These retainers need to be constantly replenished as claimants proceed with an ongoing litigation. It’s kind of like taking your car to a mechanic to see what’s wrong with it. You have to pay the shop for the time it takes them to inspect the vehicle and list their concerns. You could end up spending thousands on potential issues before you even get to your initial concerns. An open ticket system allows them to control the transaction and maximize profits by fixing one thing at a time.

Timeshare litigation attorneys operate in a similar fashion. As they expend hours working on the case, the retainer account continuously needs to be replenished. Even if you stand no chance, there’s potential they could lead you on by dragging things out as they collect payments. The timeshare could also drag things out in an attempt to dry up your pockets. A majority of legal pursuits don’t ever reach court because financial resources are exhausted before the case was finalized. That’s an awful lot of work for nothing.

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Timeshare Litigation Drawback 3: Nothing is Guaranteed.

It’s important to keep in mind that lawsuits are rarely predictable. Even some of the most cut and dry cases result in unfavorable outcomes for those wronged. You never know what the timeshare company could pull out of their back pocket to halt any type of momentum you’ve gained. In other words, none of the timeshare litigation attorneys in the world can guarantee a winning case. Unfortunately, many ambitious owners go through an enormous amount of stress burning through an excessive amount of money on something they could never prove. It can be devastating if the outcome isn’t favorable.

Losing a lawsuit after the purchase was already a setback can be detrimental to more than just the owner. Often times, when people pursue legal action, family members and friends give them bad advice and let them borrow money. The loss forces everyone to lose. Especially when the timeshare counter sues to recoup the money they spent on their own attorney’s fees. That’s an unsettling list of expenses, especially when the timeshare obligation remains.

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Why Our Attorney Based Process is Superior to Litigation.

The self preserving craftiness of timeshare companies is the main reason we continue to fine tune the process we use to legally eliminate timeshare ownership. People considering the purchase are told a number of things that lead them to believe the product is more than it really is. The middle class suffers the most because they’re sold on something they feel like they can only dream of being able to afford. The lavish vacation lifestyle can be very misleading.

Disgruntled timeshare owners have to be able to put emotions and pride to the side in order to logically analyze their situation. Otherwise, it’s easy for revenge to dictate what makes the most sense. While some buyers have a good enough reason to call a few timeshare litigation attorneys, most don’t. Suing the resort requires a lot of evidence, patience, toughness, time and money.

If you’re not prepared to deliver on each of these, then just cancel the agreement already and move on. Even if the reputation of some timeshare exit services is questionable, we want you to know quality solutions do exist. To learn more about our company’s 100% satisfaction rating, you can schedule a free consultation or proceed with a qualification form below.

How Consumers Are Persuaded to Buy Timeshares

How Consumers Are Persuaded to Buy Timeshares

When most people think about buying a timeshare, they think of convenient getaways in desirable locations with family and close friends. But that’s not always how the adventure plays out. Every year, tens of thousands of consumers buy timeshares without any knowledge of what they might actually be getting themselves into. Even those privy to timeshare travel end up in regrettable situations from time to time. Whether buyers can’t use points or availability is slim, many end up spending more money just to enjoy something. But this isn’t always their fault. 

Timeshare salesman do a great job of narrow-mindedly leading people to believe the purchase is more than it really is. Aside from selling a mirage, some intentionally avoid contract details to keep potential buyers from having second thoughts. If most people knew it would cost them an additional $1200 in fees per year (for life), they probably wouldn’t be too impressed. Less people would buy timeshares because it wouldn’t be seen as the deal it’s being made out to be. When salesmen focus on benefits instead of product specifics, buyers are essentially being encouraged to make an uninformed, impulse decision. 

Instead of experiencing more bang for their buck, many buyers receive less than they expected for more than they anticipated. This is where the financial commitment can become extremely problematic. Once buyers are locked into a perpetual contract, timeshare companies focus on creating a demand for an improved experience. They’ll say anything to keep buyers from realizing they can cancel the contract during the rescission period.

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They’re not necessarily interested in solving dissatisfaction, rather offering in-house solutions that consist of upgrades and add-ons. The entire process is based on sales tactics that leverage your lifetime agreement. You have to understand nothing you experience as a timeshare owner is by chance. Systems are in place to always keep you wanting or needing more. Even if you’re enjoying multiple timeshares already, one bad decision can be devastatingly costly.

This is why we want to encourage potential buyers to research the product before they even attend the timeshare presentation. Knowing what to expect and what questions to ask can save you an awful lot of grief. At the same time, investigating the timeshare company isn’t the only thing you can do to prepare. You have to anticipate being told things that simply aren’t true during the sales pitch. Taking the time to review the timeshare contract and mull over the terms before signing anything is essential. Especially if you’re already on vacation. Believe us, the sales rep isn’t going to abolish the offer because you want to think it through. Disregard the “available today only” sales tactics.

One of Our Clients is “Not Proud” of Their Decision.

Although the first 500 words of this article may be enlightening, we understand some readers will require substance. Claims can be dry in this industry as nearly everything is a sales pitch. While you might think we see unhappy timeshare owners as an opportunity, we don’t think of it that way. We talk to dozens of people that buy timeshares every day. We know what type of pain they go through. Whether you’ve never bought a bad timeshare or the salesman’s spiel made you a believer, we believe the story of an elderly couple will open your eyes to what can transpire if you take the purchase lightly.

Bill and Mickey have been married for more than 52 years. They have 2 sons and they managed the household with a blue collar mentality. Bill worked at GM for more than 35 years as a production manager and even spent time in Vietnam. His work ethic allowed him to “retire at age 55 with age 59 money.” But it didn’t steal his drive because he’s been working ever since. Micky spent a good part of her professional career in the medical field. Like most Americans, they worked hard to be able to live comfortably and travel routinely one day. 

While their kids were growing up, Bill and Micky started to explore the east coast every chance they got. After using Micky’s brother’s timeshare a few times down in Florida, the couple decided to purchase their own. For years, the couple took advantage of holidays and school breaks to travel with their sons. They never had any issues after buying the timeshare. But all of this changed in 2015 when they attended a promotional seminar for timeshare during a routine trip to Gatlinburg.

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Analyzing the Presentation and the Timeshare Purchase

Mickey recalls her husband entering the presentation extremely skeptical. “I remember Bill saying to the guy, ‘well, we’re not going to buy anything.’ Well, that was our famous last words,” she said. When asked about the pitch, Bill remembers it being very methodical. “It was structured. They had an agenda. You know, starting off, what do you pay for a motel? What do you pay for a hotel and all of that? How much did you invest in that vacation?” 

The rapid fire questions allowed Wyndham to pull a lot of information from the couple right away. Within a short period of time, the sales rep already had Bill thinking that it made sense financially. “With the initial investment, it seemed like we should be okay,” he said. But they still weren’t sure if it was something they needed right now. So the questions continued.

After going back and forth for hours, the sales rep started to explain their presidential points program. When we spoke to the couple, you could tell they still didn’t understand how they were going to use two million points. “What Invited me to take on the presidential point value was when they talked about how you could rent your properties,” said Mickey. She thought, “If I can get $2,000 a month rental fee then I can pay my mortgage amount.” But this isn’t anywhere near how things eventually played out.

Knowing how much money Bill and Mickey had to spend gave the sales rep an opportunity to continue throwing out empty promises until the couple finally gave in. They could have left at any point, but the couple decided to continue listening to the benefits while the details of the agreement were ignored. So the intrigue progressed.

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Bill told us the ability to cut their timeshare costs even more was very appealing to him and Mickey. “Another item they stressed was that you could take this deeded property and go to any loan institution and use that as collateral to get a loan, for less interest to get out of Wyndham’s high interest rate,” he said. Again, another common false narrative used by timeshare companies to close their prospects. Bill went on to say the sales rep insisted this were true by saying, “Oh yeah, we just had somebody in here last week that got a loan for 3% and they were paying 18%.”

Once the salesman found something that appealed to the couple, he ran with it. “It was always a dream of ours to go west because we’d never been west of the Mississippi.” said Bill. “We wanted to see the Grand Canyon and different sites out there.” This revelation was inevitably the final nail in the coffin.

Thinking back, they now realize the salesman really used this desire against them. “Our first buy with Wyndham was kind of geared around that offering, you know, we can put you in condos and do this and do that. So that’s how it started with Wyndham.”

What Can Happen When You Haphazardly Buy Timeshares 

Once they made the purchase, the rest was history. While they initially thought they could rent and use their points for little to nothing, they quickly found out it wasn’t that simple. “You’re already losing money right out the door, but they make you think that you can just turn around and rent them really quick,” says Mickey. 

Aside from being stuck with a surplus of points, they never considered the additional expenses that come with traveling routinely. Even when they wanted to go on vacation they couldn’t because the anticipated income from renting their points wasn’t there. Especially when they paid two companies to unsuccessfully help them rent the property. In their letter to us, they explained just how bad the points program turned out. “We have already invested $107,139.36 in down payments alone. We bought one million points, but we have approximately 600,000 left to use before 9/30/2019.” Who would have thought, right?

They ran into another costly brick wall when they found out their refinancing options weren’t true. “I looked around, nobody will give you a loan on that deeded property. They make it sound like it’s no problem for you to be able to refinance somewhere easily, but it’s not the case.” After taking out several loans and charging a credit card for some of the unexpected costs they endured shortly after the purchase, the couple finally realized they had to take out a reverse mortgage on the home to cover their loses.

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Getting Out of the Timeshare Was Their Only Option.

After contacting the CEO of Wyndham with no reply, the aging couple was determined to find a way out of the timeshare. “We contacted Wyndham’s Ovation program to see if we could cancel our loan and renegotiate for less points. Of course, they said we signed a binding contract,” said Mickey. Unfortunately, the clients that have come to us came to the conclusion that the timeshare resorts don’t care about your financial struggle. 

She told us, “If we hadn’t have gone to Global, we wouldn’t have known of VOC and we would still be struggling right now. So it was kind of a blessing. In a way the lord opened up a door and said, here you can save some face,” she said. But canceling the timeshare contract didn’t necessarily eliminate the regret and the exceeding amount of debt they now face

Although Bill retired relatively young, he is now working as a garbage man at the age of 72 – just to survive and keep their home. The American dream they were once on track to attain is now lost in the shuffle. Bill is deeply distraught by this. “Something that really bothered me was trying to explain this to our children, our two boys, what we had gotten ourselves into,” he said. “This was something that we are not proud of and even now they don’t know what we’ve gotten ourselves into.” The amount of grief the experience caused them is indescribable.

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Take Your Time When Purchasing Timeshare Agreements.

For those of you looking to buy timeshares now or in the near future, the couple hopes their story has opened your eyes. They don’t want you to make the same mistakes they did. Mickey now realizes they’re not alone. “As we traveled, we talked to other Wyndham owners. What we found is the first thing you buy, you realize, well this really doesn’t get me anywhere because it’s not enough points. Then you go buy more points so you can do more traveling or go where you want to travel. They [Wynham] say well if you add just a little bit and go up to the next package level then you can do this much more. And before you know it you’re at over your head,” she said. It sounds like people are beginning to catch on.

If Bill and Mickey would have taken a step back to analyze their points program, the rental market and their refinancing options, they probably wouldn’t have made the purchase. But they did and our hearts go out to them because of it. At the same time, we hope consumers learn through their experience.

Knowing When to Exit Timeshare Agreements is Key.

While people can help themselves by preparing before they buy timeshares, knowing when to cancel fractional ownership is even more advantageous. This is something Bill and Mickey can attest to. When seeking timeshare relief, they refused to take “No” for an answer because they didn’t want to pass down the burden to loved ones. 

No one should have to worry about paying over $200,000 in timeshare-related-debt during their golden years. Shame on the timeshare sales representatives and management for taking advantage of this aging couple. The silver lining to it all is that Bill and Mickey understand the full picture now and have made an educated decision on how to move forward and move on. They couldn’t be more happy with the route they took.

If you’re interested in learning more about our proven attorney based process, we’d love to schedule a free consultation with you. Otherwise, you can see if you qualify by filling out an eligibility form below.

When You Should Cancel a Timeshare Within 5 Days

When You Should Cancel a Timeshare Within 5 Days

If you’re reading this, you probably just returned home from vacation. Some of you might still be in the midst of your travels. Either way, you’ve just bought a timeshare and something has caused you to second guess the decision. Whether the resort has already rubbed you the wrong way or you actually read the contract, canceling within the first week is on your mind. Sadly, many buyers don’t realize time is of the essence here. Some states don’t even give you 5 days to cancel. So, wondering if you should cancel a timeshare within 5 days is a legitimate concern. Fractional ownership comes with perpetual ties that timeshare companies aren’t necessarily looking to relinquish. With that in mind, getting out of your obligations requires a sense of urgency, a level of contractual understanding and a lot of self control.

Should you have said “No” to the Timeshare Experience?

When you think about the day of your purchase (even if it was this morning), do you recall being overwhelmed by opportunity? Did the thought of traveling more often appeal to you? What about feeling like you ought to commit to vacationing? Most people end up choosing timeshare travel because they have an urge to change up their routine. Being on vacation allows them to escape the reality of their everyday lives. This is why timeshare companies offer free gifts and hotel stays. They’re essentially wining and dining their targets. It’s easier for them to persuade when people are out of their element and feeling special. The euphoria of traveling in general encourages people to make the emotional commitment.

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The Effect of Timeshare Presentations on Vacationers.

When you think about it, people tend to be a lot more joyful and easy-going while on vacation. Especially when it comes to spending habits. Most of us can attest to this. There’s just something about maximizing every experience while we’re away from home. Even when we know we’re paying premium prices for basic things, we still fork over the cash. For vacationers, convenience is always high in demand. But back in reality, paying a premium may not be the vacationer’s cup of tea.

Not everyone chooses dry cleaning over the laundromat or Uber X over a cab. Some people prefer to wash their own car or park and walk instead of paying for valet parking. Believe it or not, there are parents out there that prefer to endure one hotel room with six kids instead of just getting two. The point is, a lot of timeshare owners are led to believe they’re getting a smokin’ deal but they’re actually paying a premium to travel. Buying a timeshare isn’t something they would normally do. But since they were on vacation, they leaned on emotion instead of reason. If you’re wanting to cancel a timeshare within 5 days, then you can probably relate.

Buying a Timeshare Shouldn’t Be Taken Lightly.

Understanding why you made the purchase and sobering up to the decision needs to be done quickly. Unless you want to incur penalties, you only have one true chance to walk away. Nearly all of our clients wish they hadn’t put off cancellation. Some initially thought the purchase could be a mistake but they decided to wait and see how it played out. Some even knew about their timeshare rescission period. If they could get back all of the time and money they wasted trying to make the purchase worth it, they would. But they can’t. In other words, the decision to cancel a timeshare within 5 days is an important one.

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A good number of timeshare owners eventually find themselves uninformed because they don’t ask questions. Even though excitement can be blinding and disclosure is minimal (during sales presentations), there’s never a good enough reason not to double check a purchase of this magnitude. If you bought a new car, would you wait a few weeks to inspect everything? If you found something wrong, wouldn’t you tell them right away? Your timeshare purchase should be treated the same way.

It’s why we’re urging you to review the terms of the contract right now. Everyone makes impulse decisions; but not all decisions come with a lifetime obligation. If something doesn’t feel right, then reconsidering the purchase isn’t a bad thing. When it comes to timeshare ownership, you should never wait for something to go wrong before taking action. If you’re having doubts, listen to them. You aren’t given a lot of time to change your mind. With that being said, let’s take a look at a few ways to inspect your purchase before canceling it for good. 

Confirm the Requirements for Rescinding Your Timeshare.

Although the title of this article references canceling within 5 days, it’s important to remember that every state has a different requirement. Timeshare rescission periods can be anywhere from 3 to 14 days. If you wait until day 5, it can be too late. Florida, one of the most popular timesharing states, only gives buyers a few days to cancel timeshare contracts. Before signing the dotted line, you need to know how much time you have to ponder the purchase. 

In order to see how your timeshare agreement is governed, you must look at the statues for where the contract was purchased. There are a number of online resources available to new fractional owners regarding timeshare rescission periods. You can also find this information by studying the “canceling and/or rescinding” clause of your contract. Arizona, for example, just increased the length of time buyers have to cancel. So make sure you double check everything. Once you know how long you have to cancel, try to use the contract to answer as many of your questions as you can.

Good Enough Reasons to Cancel Timeshares Within 5 Days.

If the salesman persuaded you by promising additional perks or guarantees, make sure they’re included in your copy of the agreement. This is one of the easiest ways to spot a problematic purchase. Timeshare companies heavily incentivize their sales teams which results in an awful lot of misconduct during the presentation. Since it’s highly unlikely buyers will ever interact with them again, salesman will pretty much say anything to sign attendees up for fractional ownership.

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In order to prevent further deceit, try to avoid speaking with the resort about your cold feet. Additional sales tactics are in place to deter you from looking for a way to cancel a timeshare within 5 days. Customer service teams have been trained to stall or distract users until the timeshare rescission period expires. Anything you’re told could be inaccurate or misleading. 

If you absolutely have to speak to the resort, try to keep everything cordial while following the cancellation instructions explained in your contract. Canceling a timeshare within a week has nothing to do with sales reps anyways. If you decide to proceed with cancellation, do your best to prove the dates and times of your decision by documenting every step you take. Last but not least, always remember to send your request to rescind through a priority mail service with tracking. Over the years we’ve talked to hundreds of timeshare owners that barely missed the cut because they relied on the resort to confirm the cancellation request.

Additional Tips for a New Timeshare Purchase.

One of the best ways to preview experience in the first few days is to try to use the timeshare right away. While digging around can be fruitful, availability concerns should be enough for you to walk away from fractional ownership. Sitting on the purchase doesn’t allow you to experience frustrations until it’s too late. Besides, you probably won’t want to keep the timeshare if your points package is limited or you can’t travel to the desired destinations your salesman promised.

How to Immediately Tell if the Purchase is Promising.

1. Availability, locations and amenities match the sales presentation.

2. No element of the purchase is confusing, questionable or unclear.

3. Certain perks or your favorite benefits are included in the contract.

4. You don’t feel pressured to upgrade every time you contact the timeshare.

5. Your monthly invoices and annual costs are understood.

6. Minimal complaints on the resort and proven consistency in resolving problems.

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At Vacation Ownership Consultants, we’re not an enemy of timeshare travel. We simply want buyers to experience the purchase they envision. Since misconduct occurs far too often in the travel industry, we’ve committed to educating travelers on potential outcomes. In the end, we prefer that you don’t have to spend more money to get out of something that’s already been costly to you.

At the same time, if you’re looking for more information about our proven attorney based system, we’d be more than happy to explain. While many timeshare exit services harass fractional owners, we believe in a patient approach that allows you to be confident in your decision. You can either schedule a free consultation or proceed with our qualification form below.

More Companies That Couldn’t Get Rid of Timeshare Purchases.

More Companies That Couldn’t Get Rid of Timeshare Purchases.

When people purchase a timeshare for the first time, negative repercussions are never at the forefront of their minds. It’s pretty much sunshine and rainbows in the beginning stages. While the sales presentation might have been overwhelming, new buyers are usually extremely content with their initial decision – and some remain that way. Others experience remorse quickly after they realize front-end disclosure was vague, misrepresented, or outright omitted. This can occur when owners realize availability isn’t what they were promised or when they stumble across hidden contract obligations. Unexpected annual fees often catch first time owners off guard. When a timeshare owner ends up feeling conned or trapped they usually start looking for a company that knows how to get rid of timeshare purchases.

Unfortunately, like our last article pointed out, finding relief is a lot easier said than done. Every year, tens of thousands of people are robbed during their quest to cancel a timeshare. Not only are resorts working against them to keep them under contract, but 3rd party “solutions” are bombarding them with ambiguous promises.

Far too many fractional owners truly don’t know their timeshare is perpetual. They think they can ask for a refund if it doesn’t work out. Once they realize they can’t cancel (because their rescission period has passed), they tend to begin losing hope in the resort. Especially if their decision to upgrade packages (as a solution commonly offered by their resort) backfires too.

But trusting 3rd party resolutions isn’t always fruitful either. Some buyers become desperate at a certain point which causes them to be irrational. Predatory agencies love consumer desperation. Truth be told, some timeshare owners really get drug through the mud after they sign the dotted line. The budgeted expense can turn into a devastating financial setback if you’re not careful. Since you can read all about this in some of our other blogs, let’s turn our attention back to some of the companies that claimed they knew how to get rid of timeshare purchases – but they just couldn’t get the job done.

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Resort Release Files for Bankruptcy After Collecting Fees.

This year is already proving to be a progressive one when it comes to halting unethical timeshare cancellation services. A number of bankruptcies have already been filed while even more scams have been exposed. Incompetent operations, that persuade vulnerable timeshare owners to hand over thousands of dollars for nothing, are slowly being held responsible. To say regulatory agencies have been busy is an understatement.

When timeshare exit companies first came about, they had their way with fractional owners. Vague accusations didn’t warrant lawsuits. Now that laws and regulations are in place, prosecutors can begin holding scam artists accountable. Because buyers are asking more questions and understanding their rights, they’ve been able to prove they’ve been lied to more than ever before. Especially when guarantees are involved.

This was the case when Resort Release LLC – also known as the American Resource Management Group, LLC (ARMG), Resort Exit Team and Redemption Services – recently attempted to sweep their inaptitude under the rug. The timeshare relief service filed for bankruptcy with the U.S. Bankruptcy Court for the Southern District of Florida in April this year. During their hearings, some major red flags were uncovered. This forced the court to order a Chapter 11 Trustee to take control of the business and review all of their financial affairs.

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An Unethical Trend Causes Them to Throw in the Towel.

Shortly before filing bankruptcy, Resort Release began receiving multiple complaints on their BBB profile. To date, their response to every grievance has remained consistent. They’re claiming none of the dissatisfied customers ever did business with them. Hopefully they’re not leaning on denial to escape penalty. If a business promotes an ability to get rid of timeshare purchases, it’s rather clear what the end result should look like.

Ever since Resort Release’s filing, legal questions surrounding their up-front costs have been a hot topic amongst those overseeing the investigation. What they were giving in exchange for payment wasn’t adding up. But it wasn’t the only thing not making sense. During proceedings the defendant continued to claim they were located in the midwest but the company was clearly operating in Florida. Little lies like this led others to believe something unethical was going on.

The ignorance of their approach was concerning to say the least. Apparently, they thought they could lie to the court and it would be glazed over. ARMG also didn’t have ample financial reserves to cover their 100% guarantees. Not only was the company making promises they knew they couldn’t keep, they didn’t even have the capital to back it up. In the meantime, their clients had no idea.

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What many can’t figure out is, how does a company that collected millions of dollars in upfront fees have no money? Keep in mind, they didn’t just sell their services to a few dozen people. Resort Release told thousands of fractional owners they could help them get rid of timeshare purchases, guaranteed. As the public’s awareness of the bankruptcy claim grows, more and more people are filing suit for false advertising and a failure to adhere to the Florida Deceptive and Unfair Trade Practices Act. We’ll keep you updated.

Escort Release Sued by Major Timeshare Chains.

Positioned as an advocate company, Escort Release recently was targeted by a number of major hospitality organizations for misleading timeshare owners. While there isn’t a lot of information online about this situation, we know they immediately filed for bankruptcy following pending lawsuits.

What an advocacy group does is represent unhappy buyers in their attempt to get rid of timeshare purchases. They basically support their client’s stance by advocating on their behalf. Call it a sophisticated hype man if you may. There is no legal approach to this. Escort Release essentially told their prospects that they could negotiate a settlement with the resort without taking legal action. Unfortunately, we don’t know of any advocacy agencies that’ve been able to sustain their ability to eliminate timeshare contracts.

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Vacation Owners Group Linked with Wesley Financial.

This is probably one of the more complex operations that’s been exposed to date. Not because of the amount of money or number of victims, but the level of deception. When it comes to identifying timeshare exit fraud, a company with numerous aliases should always raise a red flag. Vacation Owners Group definitely falls under this category.

Otherwise known as VO Group and VO Financial, the operation solicited timeshare owners and offered to settle their outstanding timeshare mortgages by negotiating with timeshare property associations, banking and lending institutions. The owner of Wesley Financial Group, Chuck McDowell, is being tied to these companies through a number of online resources. Already being linked as a key player behind multiple companies deemed scams, McDowell purportedly exited VO Group just before legal action was taken and arrests were made. But let’s backtrack a little to follow the paper trail.

Vacation Owners Group got its start nearly a decade ago by soliciting timeshare owners about their new relief program. They initially engaged their victims by claiming they were calling regarding a complaint they had about their timeshare. It was used as a way “to get their foot in the door” and gather more information about the timeshare property. When owners would open up about their frustrations, solicitors would then tell them they could easily get rid of timeshare purchases if they really wanted to.

Victims say each company solicited them with claims to be able to recover money from timeshare companies (Mainly Wyndham) for fraudulent sales practices on a contingency basis (10%) and no up front fees. Many that were scammed have since come forward, revealing the contract provided by Vacation Ownership Group actually contradicted these claims. Over the years, thousands of people have taken the bait and still own their timeshares.

The Public Realized VO Couldn’t Get Rid of Timeshare Purchases.

The VO Group’s trail inevitably caught up to them when they fell under federal investigation. Victim testimonies and defendant interviews exposed the company’s deceitful ploy. In an FBI conducted interview with Adam Lacerda (co-owner of The VO Group), he admitted, in substance and in part, that The VO Group did not work with any banking or lending institutions. Yet, in another interview, Ryan Bird (a co-conspirator) stated that he told customers The VO Group worked directly for banks and had the ability to settle customer’s timeshare mortgage debt. Like many other timeshare scams, the lies ran rampant in this scheme, proving the services rendered were fraudulent.

Victims of The VO Group said their timeshare was never paid off (by any means or by settlement) after paying thousands to The VO Group. But continuing payments on the timeshare they wanted to get out of wasn’t the only letdown. They later found out they also fell victim to a “bait and switch” scheme where they unknowingly became liable for an additional timeshare. All because they trusted a relief company to help them get rid of their timeshare purchases. One of the company’s former attorneys even went on record saying he attempted to cover VO Group’s tracks by obstructing justice in a federal criminal case back in 2013. It’s no wonder McDowell slipped out the back door.

Casualties Have Continued to Pile Up From the Scam

To this day, timeshare owners are still complaining about the predatory scam. Whether the sales pitch was coming from VO or is currently coming from Wesley Financial Group, customers are voicing their complaints on both companies. Some victims have even claimed Wesley Group is using the same phony reviews as VO was. Although sources show McDowell was the VP of both operations, it appears he’s somehow been able to escape consequence. There is a saying that you may be familiar with, “a leopard never changes its spots.” Hopefully, this proves not to be the case for Wesley Financial Group, although customer complaints on Wesley Financial Group’s BBB page are proving otherwise.

While online documentation does connect the owner of Wesley Financial Group to a number of scandals that didn’t know how to get rid of timeshare purchases, it’s not our place to say history is repeating itself. Maybe he’s learned from mistakes. Either way, it’s ultimately up to you to do your own research and make your own determination before doing business with any relief company.

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You Deserve to Enjoy a Timeshare Experience.

Timeshare ownership isn’t always a devastating experience. But in order to thoroughly enjoy the purchase, you have to understand what you could be getting yourself into. Whether we like it or not, unwelcome and damaging solicitations lurk around every corner. In order to avoid costly decisions, you must review the details of everything you agree to, research every business and always ignore appeal. We live in a digital world with information at our fingertips. Stay up to date and obtain factual information that equips you make informed decisions.

At VOC, we remain committed to spreading awareness on misconduct so consumers can make smart choices online. All we can do is state the facts and hope for the best. In the meantime, we look forward to sharing more of our clients stories. To learn more about our industry-leading reputation, you can subscribe to our blog, schedule a Free consultation or proceed with the qualification form below.

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