The timeshare exit industry is interesting to say the least. While hundreds of thousands of people have benefitted from their ability to legally cancel a timeshare agreement, just as many have been taken advantage of. Far too many cancellation programs are in business for the wrong reasons and they’re using the exact same sales practices that caused the buyer to seek relief in the first place. Unfortunately, this is a continuous cycle within the marketplace. Whether it’s the original purchase, resale or termination, a majority of consumers have a hard time knowing what’s real and what’s a scam. We know this because we talked to dozens every day.
A sense of confusion inevitably clouds the judgement of fractional owners during the decision-making process. Genuine companies like ours are often bucketed with scams because of the lies vacation owners have been told in the past. Broken promises, misleading information and greed tend to create skepticism that’s hard to break. So in order to show unhappy timeshare owners that we’re not interested in scheming them, selling their data or taking their money, we have to be willing to break down the reality of the sales practices in the timeshare exit industry. Hopefully this helps readers see that we understand what they’re up against and care about their burden.
The Truth Behind Guaranteeing Credit During an Exit.
When it comes to escaping a perpetual timeshare agreement, one must understand that they’re going to receive some backlash from the resort. Our clients have been known to receive threats from the resort and it’s sales teams that collect hefty commissions off of the deal. For the most part, these are simply scare tactics, but you have to understand that no company in the timeshare exit industry can guarantee your credit when you’re at odds with the resort. In the end, the timeshare is the only party that’s able to execute this request.
Because buyers sign a contract and a promissory note that states they’re obligated to pay for the weekly interval, the resort is going to do everything in its power to keep you under that contract. Unless you’re able to prove that you were misled during the sales presentation, you have no leverage. When a sales rep in the timeshare exit industry makes this guarantee, they better be able to provide evidence. In reality, they’re just trying to persuade you to commit to them, just as you did with the timeshare.
Vague claims that seem too good to be true should raise red flags. Especially if you’ve already been told one thing by the resort and something else transpired. Learn your lesson here and realize that a number of operations in the timeshare exit industry only want your money. They do everything in their power to gain your trust while protecting themselves from your inconvenience. Even if you’re desperate, looking into guarantees will save you a lot of heartache and further regret.
Credit Repair in the Timeshare Exit Industry.
Some exit agencies will even go as far as partnering with sketchy credit repair services to strengthen their guarantees. But the people managing a handful of these operations are usually connected to the ploy. Tradebloc is an organization worth keeping an eye on in this regard. While their process is quite vague, we do know that they only accept clients from referral sources in order to avoid a transactional relationship with the client. They do a very good job of protecting themselves from potential legal issues while claiming they have the ability to block creditors from reporting.
The CEO, Tim Clark, is proudly listed as “the credit repair industry’s number one money earner.” On the company’s website, he describes Tradebloc as “unique and unprecedented.” If you take the time to analyze their about page, you’ll find that there is a lot of bragging and zero results. Boasting about acquiring “71 corporate clients and generating nearly 1000 new credit repair clients each month” really only says they’re good at sales. Ironically, there are no customer reviews or any type of organization support listed online.
Further research shows that people have actually gone to jail in the past for making eerily similar claims. All they were doing was filing false police reports that claim identities were stolen and reporting it to credit bureaus to block credit reports. This is not legal and unknowingly ties the timeshare owner to the illegal activity. Fractional owners in search of the best timeshare exit option tell us their credit has been guaranteed by one of our competitors all the time. But they’re never able to tell us exactly how something like this will take place.
Far too many timeshare owners buy into possibilities. This form of desperate optimism is what we refer to as “industry hope.” Agreeing to verbal promises and not asking the right questions in order to garner an accurate understanding of the product is what landed the owner in the unwanted timeshare to begin with. Buyers have to learn as much as they can about the promises made. While it’s yet to be proven that Tradebloc is engaging in illegal activity, the operation does raise quite a few questions. Vague responses that vary from one representative to the next and zero transparency on how the process works should be concerning.
The simple fact they announced that they’ve “teamed up with the number one travel fulfillment company in the world to give its members the world’s best, authentic, discounted travel,” tells us they’re prepared to target current customers with new offers down the road. When it comes to unethical sales practices in the timeshare exit industry, this is one of the oldest tricks in the book. Avoiding relationships and creating obscure partnerships screams dubious activity.
Selling Guarantees Doesn’t Mean a Timeshare Exit is Certain.
While exiting a timeshare contract and repairing your credit may appeal to you, most disgruntled buyers first turn to resale platforms for relief. Followed by leasing, this is usually seen as the most viable and promising option when the timeshare just isn’t working out. Unfortunately, many owners don’t know that the possibility of actually finding a buyer is slim to none. There just isn’t a resale market for timeshares and there never has been. Unless you hold the keys to a week that’s in high demand, it’s a pipedream.
If you happen to be told that a reseller has a buyer waiting to take the interval off your hands, you have to understand this is a common sales tactic in the resale realm of the timeshare exit industry. After the owner commits, they’re normally told the buyer backed out at the last minute. Since the owner already made a payment and has begun the exit process, they usually decide to wait it out. Resellers know how to play this game and continue leading owners on until they’re willing to lose money just to get rid of the timeshare. This allows them to profit tremendously while you suffer.
If you find yourself involved in a scam, then the outcome can be far worse. In these scenarios, timeshare owners are often misled for months. They believe a buyer exists and continue processing fees, closing costs, tax documents and more in hopes of offloading the contract. After the con artist is satisfied with the stolen amount or senses some tension, they disappear. This costs owners thousands of dollars while the same perpetual agreement remains in their name.
The Reality is, the Timeshare Exit Industry Breaks Promises.
In today’s society, people want to believe they can trust someone’s word. Especially when it comes to expensive business transactions. Sadly, a company’s ability to persuade consumers to hand over money for broken promises is becoming more of a norm. At VOC, we believe people should have a fighting chance when it comes to making large purchase decisions. At no point should they ever feel pressured, alone be misled. For many, financial hardship is right around the corner and they never would have made the purchase had they known the contract would hold them hostage.
Milking consumers for money as long as possible is a terrible strategy. Unfortunately, it’s the past and current state of the timeshare exit industry. In fact, it’s pretty much the approach of timeshare travel as a whole. Every day, more and more people are falling into a devastating financial pit that takes time to climb out of. Buying into credit or resale guarantees may seem advantageous, but it doesn’t mean it’s true.
Hopefully this first installment will help you avoid setbacks and find a viable option that suits you best. While the sales practices of the timeshare exit industry have a long way to go, we want you to know that you can trust our word. The last thing we want is for you to remain in remorse.
Next week, we’ll expand on this even further by discussing a few more ways our industry persuades. Omitting information from timeshare owners and refusing to qualify interested parties only leads to disaster. To learn more about our attorney based process or to discuss other options for relief, you can always schedule a free consultation with us or proceed with our qualification form below. Thanks for stopping by!