It is easy to become owner of a timeshare, but getting rid of it and taking back your initial investment is most difficult. You may be asking yourself how to get out of timeshare contracts, keep reading...
Some timeshare companies may want to charge you for a contract buyout and state regulators may not be able to do anything in your favor. The truth is there is no standard procedure to get out of a timeshare contract and the most important thing you can do is contacting your home resort owner service and ask about a resale program or any other surrender option for owners who want to get rid of this obligation. If the company has no such program or option, at least it should be able to recommend you resale brokers or attorneys specialized in timeshare resales.
Alternatively, you can choose to donate timeshare to charity. There will be no time consumed, as in the case of the selling process, no fees, no stress, no waiting around and no guessing game.
By donating your timeshare, you may also qualify to receive tax benefits, but IRS does not recognize a right-to-use timeshare and does not allow tax deductions on timeshare week donations either.
Whatever you do, stay away of those "exit companies" that promise you to help you get rid of your timeshare; most of them are scammers.
Once you managed to be free of your timeshare obligation, you should celebrate hard, because you finally got rid of a real financial burden.
Original Post on: Should You Celebrate After Getting Rid of Your Timeshare?
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Enforcement agencies across the United States report receiving many complaints about timeshare rental and resale. It seems that many people are initially fascinated by the idea of owning a timeshare in a resort, only to realize later that they have been scammed.
There are some good timeshare companies out there, but you must be sure that you are actually doing business with one of them.
Here are some guidelines to recognize timeshare scams and stay away from them.
The thumb rule is to never-ever give out important personal information, such as credit card or bank account number, to a
stranger. Some of these frauds may contact you by phone, but do not offer them your personal data. You do not make any contract by phone!
If you visit the website of one of these timeshare companies, do not fill out any form with more than your first name and your email (if even that!). Google the name of the company, person of contact, phone number, address etc. This simple operation may reveal important information. For example, you may discover that the address and the phone number actually lead to different websites, or the company`s name take you to complaint boards.
You can also check if the company is a registered entity, as required by law. For more on your rights, contact http://www.timeshareterminationteam.com/.
First Posted over here: Tips For Recognizing Timeshare Scams
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