If you’re looking to get rid of your timeshare, choosing the best timeshare exit team is one of the most important steps. So that’s what we’ll cover in this ultimate guide – how to choose the best timeshare exit team, what to look for, and what to look out for. Here are some of our top tips when choosing a timeshare cancellation company:
1. Understand the Timeshare Cancellation Process
Our number one tip when choosing the best company to work with is to make sure that you understand what kind of process it is using to get you out of your timeshare. For example, if the company is trying to sell your timeshare, you should know that while it’s not impossible, selling a timeshare is incredibly hard. Demand for timeshares tends to be very low. There are many reasons for this, including the lifetime nature of timeshare contracts, maintenance fees that tend to increase 6-10% year over year, surprise special assessment fees, and the fact that the fiscal responsibility of a timeshare is passed onto an owner’s children or other beneficiaries. It can even be hard to donate or give away a timeshare for these reasons. In addition, there are many timeshare resell scams in the marketplace; so many in fact, that the Federal Trade Commission, Consumer Reports, and AARP have all warned against them.
It’s also important to know that timeshare cancellation is not the same as reselling or renting your timeshare. Timeshare cancellation is when a timeshare cancellation company – also called a timeshare exit company – negotiates with your timeshare resort to let you out of your contract. There are two different types of timeshare cancellation processes, one that needs an attorney and one that does not. A timeshare cancellation company is not a law firm and its timeshare exit specialists are not lawyers, however, a timeshare cancellation company has relationships with some of the best timeshare attorneys. When a negotiation requires it, they will bring in and work with a timeshare attorney on an as-needed basis. In this way, working with a timeshare cancellation company is a stress-less and easy way to cancel a timeshare, no matter which process you use to cancel. If you’d like to learn more about timeshare cancellation, we’ve written a blog here with more information.
2. Protect Your Credit
Another tip – the best timeshare relief companies will be upfront about what happens if you stop paying your timeshare loan or fees before your cancellation is official. If you stop paying your financial obligations prematurely, your timeshare resort can report the late payments and your credit can be impacted. While there are some general credit protections available in the U.S., at the time of writing this, they don’t apply to the timeshare industry and there isn’t a way for your timeshare exit company to protect you. You should also be aware that it is illegal for a timeshare cancellation company to advise you to stop paying your timeshare payments. Since your credit score can have important personal and professional consequences, it’s important to work with a company that is transparent and upfront about how your choices will impact your credit. This will empower you to make the best decision you can for yourself and your personal situation.
3. Nationwide Footprint
When choosing a company to work with on your cancellation, we also recommend finding a business with at least a handful of offices across the country, as well as having the ability to work virtually. That way, no matter where you are located, you will have a timeshare exit team near you. This is also a great way to get the professionalism and customer service of a larger company with the hands-on approach of a local office.
4. Experience Matters
Make sure the timeshare cancellation company you are choosing to work with is experienced. We recommend looking at the number of years they have been in business, as well as making sure that they have canceled a timeshare with your specific timeshare resort before. Every timeshare resort is different and has different contracts, so working with a company that has canceled a timeshare with your resort before is an important detail.
5. Dedicated Support
When choosing a timeshare exit company to work with, we recommend looking for a company that will give you a dedicated project manager or customer service representative. Timeshare cancellation can be a lengthy process, typically somewhere between 6-24 months. When you have a dedicated representative, someone who is checking in with you at least once a month to update you on your cancellation, you don’t have to worry about telling your story to a call center over and over again. You don’t have to worry about calling in and chasing down updates. You don’t have to worry about always getting a different person every time. When you have a dedicated account representative, you have one main point-of-contact who should be reaching out to you at least once a month with updates, even if it’s to say that your cancellation is still in process.
6. Custom Quotes
When it comes to timeshare exit team fees, we recommend going with a company that offers a custom quote process. This is because timeshare cancellation isn’t a one-size-fits-all or cookie-cutter process. Many factors can go into a timeshare cancellation quote, including:
• How long you’ve owned the timeshare and if the loan has been fully paid off
• What resort your timeshare contract is with
• How much your maintenance fees are
• What your timeshare loan balance is
• If you are behind on any timeshare payments and by how much
• Other details that can be included in your timeshare contract
It’s completely understandable why you might want an immediate quote, but when choosing a timeshare exit company, you most likely have a better chance of an accurate quote if it is a custom quote. Our best recommendation is to do your research and due diligence. However, getting a custom quote doesn’t necessarily need to be a time-consuming process. Timeshare Freedom Group, the leading timeshare cancellation company in the industry, offers custom quotes in as little as 15 minutes. To schedule a free consultation and get a custom quote, reach out to us here or call us at (866) 668-6872.
7. Free Consultation
Another feature to look for in a timeshare cancellation company is that it offers free consultations. Free consultations are a way to speak to a company’s timeshare cancellation specialists and see what it is like to work with them – before engaging its services. It’s a great way to do research and feel more confident about your timeshare cancellation company choice.
8. 100% Money Back Guarantee
Working with a timeshare cancellation company that offers a 100% money back guarantee is another way to feel more confident when choosing which company to engage. A timeshare cancellation company is not a law firm and a timeshare cancellation is not a lawsuit, so this doesn’t mean that it can get the money back that you’ve already paid to your timeshare. However, it does mean that you can get the money you paid to your timeshare cancellation company back if they are unable to cancel your timeshare. Every money back guarantee is different though, so it’s important to ask your prospective timeshare company for the details and to read the fine print in your contract. For example, money back guarantees can have time restrictions, such as at least 24 months, so that your timeshare cancellation company has a chance to properly cancel your timeshare. Some timeshares can be canceled after six months, but it’s not unheard of for timeshare cancellations to also take 24 months.
9. Realistic Timeline
This leads us to our next quality. Look for a company that gives you a realistic estimated time range. While it can be tempting to go with promises of a timeline quicker than that, the reality is that timeshare cancellation takes 6-24 months. Transparency and accurate information are qualities to look for when choosing a timeshare cancellation company.
10. All-Inclusive Service
Some timeshare cancellation companies serve as advisors, while you do all the work, and some timeshare cancellation companies do all of the heavy lifting and work for you. If you’re looking to have an easy, stress-less, and turnkey experience, we recommend working with a company that takes all of the work off of your plate. That’s countless letters, hours of phone calls, and fewer headaches to worry about.
11. No Surprise Fees
Lastly, in addition to all-inclusive service, make sure that a timeshare cancellation company’s fees are all-inclusive as well. There shouldn’t be any fees that aren’t mentioned upfront during your consultation and quote process. The one exception to this is that sometimes, as part of the negotiation, your timeshare company may request a settlement fee to let you out of your timeshare contract. However, this fee goes to your timeshare resort, not to your timeshare cancellation company.
When choosing the best timeshare exit team to work with, there are several features to look for to ensure you are working with one of the best out there:
• Make sure the company is canceling your timeshare via timeshare cancellation negotiation, not selling or renting
• Be aware that a timeshare cancellation company cannot protect your credit if you stop paying your timeshare before your cancellation is finalized
• Look for a company with offices across the country and the ability to meet virtually
• Work with a company that has canceled a timeshare with your specific timeshare resort before
• A dedicated account representative who will personally update you at least once a month helps ensure smoother communication and an easier experience
• There are a lot of variables that can affect the price of timeshare cancellation, so take the time to get a custom quote
• Get a preview of what it will be like to work with a timeshare cancellation company by getting a free consultation
• Look for companies that offer money back guarantees
• It typically takes 6-24 months to cancel a timeshare. Work with a company that is upfront about that fact.
• If convenience is important to you, work with a company that does all of the timeshare cancellation work for you, instead of one that simply works as your advisor – while you do all the heavy lifting.
• All fees should be disclosed upfront and in the quote/consultation process. The only exception is settlement fees, which are hard to predict and are paid to your timeshare resort – not your timeshare cancellation company.
Timeshare Freedom Group checks all of the above boxes and is the leading timeshare exit team in the industry. Timeshare Freedom Group can help you get out of your timeshare legally and permanently. They have more than 15,650 satisfied customers, 10 years of experience, and offer a 100% money back guarantee. To schedule a free consultation with one of its timeshare exit team members, reach out to us here or call (866) 668-6872.
Looking to Cancel Your Timeshare?
Timeshare Freedom Group is the leading timeshare exit company in the industry. Schedule a free consultation with one of our timeshare exit experts today to get started.