If you dream of a warmer vacation spot in the winter, you might consider a timeshare. It may sound like a good option, and buying an option is often easy. But getting out of one of those contracts can be tricky. That’s where timeshare exit companies say they can help. But as Consumer Reports reveals, those exit plans are not always watertight.
Exit companies often promise that they can get you out of a timeshare contract, but that often comes with a hefty price in advance.
Consumer reports and others say that consumers should watch out for certain timeshare exit companies, some of which have reportedly taken money but have not offered anything.
So how can you get out of a timeshare without losing money? More timesharing companies now have return programs to make it easier for owners to leave. You can also hire a broker who specializes in timesharing. But remember that timeshares are often a value-reducing asset, so you must be prepared to take a loss.
The American Resort Development Association says the timeshare industry is warning consumers of fraud in the exit industry.
ARDA also says the industry is committed to improving communication with owners who want to understand safe timeshare exit options. It has launched an awareness campaign on Responsexit.com.