Are you looking for a timeshare exit company, but aren’t sure who to trust? You’ve come to the right place. We review all the different timeshare exit companies for you so you can avoid scams.
Our #1 recommendation is to work with timeshare exit companies that offer an escrow payment option so the exit company is not paid in full until after the timeshare is cancelled. This puts you in control of the timeshare exit process because you decide when the timeshare exit company gets paid. Learn more about escrow and why it’s important here.
Centerstone Group is our top-rated timeshare exit company for a variety of reasons.
Our favorite quality of this company is its escrow payment option. When you pay for a timeshare exit service with escrow, the exit company doesn’t get paid in full until after the timeshare is cancelled.
We also like how Centerstone Group uses multiple timeshare exit strategies to get you out of your timeshare as fast as possible and at the lowest cost. This differs from other exit companies that only offer one exit strategy.
If an exit company only offers one strategy to get you out of your timeshare, it can lead to higher costs and a longer timeframe to cancelling the timeshare.
Centerstone Group has more than 30 years of experience in the timeshare industry, so you can rest assured that you’ll be in good hands with them.
Pros
✔ Escrow Payment Option ✔ Excellent Customer Service ✔ A+ With the BBB ✔ No Complaints With BBB ✔ Three Paths to Timeshare Exit
Resulting In a Faster Cheaper Exit ✔ Over 30 Years of Experience Resolving Timeshare Issues ✔ Has Spanish Speaking Agents ✔ Open on Weekends ✔ Highest Dunn & Bradstreet Rating in the Industry
Cons
✖
Can't work With Low Maintenance Fee Timeshares
BBB Rating: A+
Escrow or Money-Back Guarantee? Escrow
Location: Las Vegas, NV
Avg. Time to Cancel a Timeshare: About 1 year
Cost: No money down or 0% interest payment plans are available. The cost of the service can vary based on a variety of factors including:
- The exit programs you qualify for.
- How long you have owned the timeshare.
- What state you reside in.
Wesley Financial Group is one of the largest timeshare exit companies in existence.
We like this company primarily due to its large size and strong financial backing. The company is large enough to absorb any sort of legal issues that may come its way from unhappy timeshare developers such as Wyndham.
In fact, company owner Chuck McDowell fought Wyndham in court and won. An impressive feat considering most would simply pack their bags and run when faced with a lawsuit from a multi-million-dollar company like Wyndham.
Wesley Financial doesn’t offer the escrow payment option, but instead offers a money-back guarantee. We prefer escrow over a money-back guarantee, but in Wesley’s case we aren’t too concerned due to it size and strength.
Unlike our top three recommended timeshare exit companies, Wesley Financial does not use lawyers to cancel timeshares. Instead, the company has its own propriety method to get owners out of timeshares that doesn’t require the use of an expensive legal team.
Pros
✔ 100% Money-Back Guarantee ✔ High Dunn & Bradstreet Rating ✔ Excellent Customer Service ✔ 300+ Employees ✔ A+ BBB Rating ✔ In Business Since 2012
Cons
✖ No Escrow Payment Option ✖ Does Not Work With Inherited Timeshares ✖ No Spanish Speaking Agents
BBB Rating: A+
Escrow or Money-Back Guarantee? Money-Back Guarantee
Seaside Consultants is another one of our top-rated timeshare exit companies.
Similar to Centerstone Group and Timeshare Compliance, this company offers an escrow payment option where they don’t get paid in full until after the timeshare has been cancelled.
Seaside has been in business since 2014, which is quite a bit longer than some of the other exit companies on our list.
This company primarily works with lawyers to get you out of your timeshare, so it is mainly looking for timeshare owners that feel like they were lied to during the timeshare sales presentation.
What’s unique about Seaside Consultants is that the company is able to assist you even if you are several years behind on your mortgage or maintenance fee payments.
Pros
✔ Escrow Payment Option ✔ Excellent Customer Service ✔ A+ Rated With the BBB ✔ Works With Attorneys ✔ In Business Since 2014 ✔ Has Spanish Speaking Agents ✔ Can Work With Owners In Collections or Foreclosure ✔ Can Work With Owners Behind on Maintenance Fees
Cons
✖
Can't Work With Inherited Timeshares ✖
Can't Work With Timeshares Purchased on the Resale Market ✖ Can't Work With Low Maintenance Fee Timeshares ✖ Limited hours on Weekends
Resolution Timeshare Cancellation is another top timeshare exit company that we like to recommend.
This company is much smaller than our other top rated exit companies. This allows them to be nimble and keep their prices low.
Resolution is one of the most honest exit companies out there. The company has a flat-rate pricing structure and doesn’t have commissioned sales agents.
Being a smaller company does come with some risk of going out business if a lawsuit from a timeshare developer were to come their way, but this is a non-issue since the company offers an escrow payment option.
Pros
✔ Escrow Payment Option ✔ A-Rated With the BBB ✔ No Complaints With the BBB ✔ Works With Attorneys ✔ Can Work With Low Maintenance Fee Timeshares ✔ Low Overhead Which Can Result In a Lower Cost ✔ Spanish speaking agents
Cons
✖ Not Open on Weekends ✖ Can't Work With Massanutten Timeshare
BBB Rating: A+
Escrow or Money-Back Guarantee? Escrow
Location: Franklin, TN and Las Vegas, NV
Avg. Time to Cancel a Timeshare: About 12 – 14 months. If your timeshare is paid off, it can be less.
Cost: Flat rate. Does not vary like other exit companies.
Timeshare Specialists operates differently from many of the other exit companies. Instead of using lawyers to fight on your behalf, Timeshare Specialists leverages its experience and industry relationships to find willing receivers for your timeshare. This will usually be far less expensive than using a lawyer to attempt to get rid of your timeshare and will be much safer for your credit overall. In fact, your credit will not be negatively affected in any way if you choose to work with Timeshare Specialists.
The company specializes in finding people that are interested in timeshare ownership, but aren’t willing to pay the large upfront cost. This is no easy feat considering many timeshares are extremely difficult to sell on the Internet even for as low as $1. However, if you have enough experience in the industry and know where and how to advertise, it can be done. This is where Timeshare Specialists thrives.
Pros
✔ No Up-Front Fees ✔ Credit Will Not Be Negatively Affected ✔ A+ With the BBB ✔ No Complaints With BBB ✔ Excellent Customer Service ✔ Can Work With Low Maintenance Fee Timeshares ✔
Can Work With Inherited Timeshares ✔ Can Work With Timeshares Purchased on the Resale Market
Cons
✖ Can't Work With Thousands of Timeshare Brands ✖ Can't Work With Timeshares With an Outstanding Loan ✖ Can't Work With Timeshares in Collections or Foreclosure ✖
No Spanish Speaking Agents ✖ Not Open on Weekends
BBB Rating: A+
Escrow or Money-Back Guarantee? Irrelevant because the company does not have any up-front fees. You only pay after you’ve been released from your timeshare.
Location: Bozeman, MT
Avg. Time to Cancel a Timeshare: About 8 – 12 weeks.
Cost: Flat rate. Does not vary like other exit companies.
Customer Reviews
How To Choose a Timeshare Exit Company
There are now over 100 timeshare exit companies to choose from as of February 2023. Choosing one that best fits your needs can be a daunting task if you’re just beginning your research. That’s why we’ve narrowed down the list to 6 Top Timeshare Exit Companies to help get you started.
Our top 3 recommended exit companies each have the following qualities and are backed by our $1,000 Satisfaction Guarantee:
Offers an escrow payment option to cancel your timeshare.
Has an A rating with the BBB and no pattern of complaints reported.
Has employees with more than six years of experience in the timeshare exit industry.
Has written contracts for all services rendered.
Give us a call at 833-416-8796, initiate live chat or submit a contact form on the right side of the page for a free consultation.
Timeshare Exit Cost
There are a lot of timeshare exit attorneys and companies out there and some may be significantly cheaper than others. Some may charge $10,000 while others only $4,000. No timeshare exit company will give you a price for your timeshare exit until you go through a free consult. The lawyer of timeshare exit company must assess your situation and determine how much work it is going to take to get you out of your timeshare.
View Your Timeshare Exit Cost Now!
Typically, a lawyer that doesn’t specialize in timeshare exit will cost more because he or she is new to the timeshare exit process. Timeshare exit companies that work with lawyers have more experience and infrastructure, so they are better equipped to offer a lower cost.
What should I do if I’ve been scammed by a timeshare exit company?
Many timeshare owners find themselves in a position where they paid a timeshare exit company to help get them out of their timeshare, but the exit company failed to follow through with its promises. This tends to happen more often to owners who chose to hire a timeshare exit company without an escrow payment option.
Typically, your best course of action in these situations is to submit a complaint to the BBB and file a complaint with the attorney general of the state in which the timeshare exit company operated from. In some cases, there are class action lawsuits being assembled that may be able to assist you in getting a refund.
If you’ve hired any of the following timeshare exit companies, you’ve been scammed:
What happens if I stop paying timeshare maintenance fees?
Like any other bill, if you simply stop paying there will likely be consequences. Many times, the timeshare developer will foreclose on the timeshare and your credit score will be negatively affected by 100 points or more.
When your credit score lowers it can be more difficult to obtain a loan when buying a house or vehicle. If you are able to obtain a loan, your interest rate will likely be higher than what it would have been had you not stopped paying your timeshare maintenance fees.
In some rare cases, timeshare developers have gone so far as to sue the timeshare owner in an attempt to collect payment. If a judgment is made against you, it is possible that your wages will be garnished until the outstanding balance is collected. However, this rarely happens.
How to get out of a timeshare without ruining credit?
This is exactly what a timeshare exit company can help you achieve. Timeshare exit companies look for ways to get you out of your timeshare without ruining your credit. If your credit was going to be ruined, there would be no point in hiring a timeshare exit company.
Timeshare exit companies have typically studied how each of the different timeshare developers work so they can know what to do to get you out of your timeshare without ruining your credit.
Strategies to get you out will vary depending on the timeshare developer, but typically one of three strategies are used.
Apply pressure to the timeshare developer via public complaints.
Transfer the timeshare to a willing receiver.
Hire an attorney to threaten the timeshare developer with legal action.
Getting out of a timeshare yourself can be difficult if you’re not familiar with the process.
Typically, you’ll need to follow these steps.
1. Rescind the timeshare purchase for a full refund. Note – most timeshares can only be rescinded for a full refund within 3 to 15 days after purchase.
2. Ask the timeshare developer to take it back. Sometimes timeshare developers will take your timeshare back if they’re in need of inventory.
3. Give the timeshare away to a friend or family member.
4. Advertise the timeshare for sale for $1 and hope someone will take it off your hands. Ebay and Craigslist are good places to advertise a timeshare for sale. Note – you should not expect to sell your timeshare for more than the original purchase price. Company’s that call you out of the blue and claim they have a buyer wanting to purchase your timeshare are almost always a scam.
When shopping around for timeshare exit solutions there are a few things to keep in mind:
Make sure the company you’re considering has some sort of money-back guarantee or escrow payment option. A company that offers a low up-front fee escrow payment option is your safest bet, but not a lot of companies offer this payment option.
Avoid companies that do not have an online presence. If the company doesn’t have a website, it’s likely a scam. Online ratings and reviews of timeshare exit companies can help with this research.
Avoid companies with a poor BBB rating or no rating.
Avoid companies that do not have a track record of successfully getting timeshare owners out of their contract.
Always get everything in writing!
Always shop around.
Timeshare exit companies operate in various ways. Some require paying up-front and others allow you to pay a portion of the cost of the service with a low up-front fee escrow payment option. Not all companies that require paying up-front are a scam, but you need to be careful because some exit companies in the past have taken customer’s money up-front and then never cancelled the timeshare. This is why we like to recommend the escrow payment option when working with a timeshare exit company.
What is Timeshare Exiting?
Timeshare exiting is the process of getting out of your timeshare and stopping your future maintenance fees. Exiting a timeshare is not the same as selling a timeshare. When you exit a timeshare, you should not expect to receive any proceeds from a sale. Instead, you should expect to pay a team of specialists and/or lawyers to help you get rid of the timeshare and stop future fees.
Why Timeshares Lose Value
Timeshare is not similar to traditional real estate because it does not typically go up in value over time. In fact, in some states such as Florida, it is illegal for a timeshare salesperson to claim a timeshare is similar to real estate because it simply isn’t true. Most timeshares lose almost all of their value the moment they are purchased.
A majority of the cost of the timeshare is made up from the cost of the free gifts offered to you to lure you in to the presentation and the commission of the salesperson that sold you the timeshare. The cost of the timeshare does not typically reflect the value of the product you are receiving. This is why the price of the timeshare will typically be much higher at the start of the sales presentation but then decrease drastically by the end of the presentation. The salespeople are just making up the price as they go along and trying to extract as much money from you as possible. Never trust a salesperson who works on commission. They do not have your best interests in mind.
Common Lies Told by Timeshare Salespeople
If any of the following lies were told to you during the sales presentation, you may be a good candidate for a timeshare exit company.
Lie 1.You can rent the timeshare out for a profit
Some timeshare salespeople tell prospective buyers that the timeshare can be rented out for a profit, but this is usually much more difficult than the salesperson makes it seem. First of all, many resorts simply won’t let you rent the timeshare out. Secondly, even if you are able to find a renter, there are usually fees involved to rent it out that make the entire process a huge waste of time.
We’ve also heard stories of timeshare owners renting their units out, and then being hit with several additional fees due to the renter causing damage to the unit.
Lastly, you’ll likely need to pay fees to a site like Redweek or Craigslist to advertise the timeshare for rent.
Lie 2.You can sell the timeshare later when you no longer want it
Many timeshares have gained a poor reputation over time, and that poor reputation has made it even more difficult to sell the timeshares on the resale market, even for $1. This is why many timeshare developers refer to their products as “vacation ownership” in 2021 rather than “timeshare.” Even if you can sell the timeshare, it likely won’t be for much more than a $1. Many owners can’t even give their timeshares away for free!
Additionally, if you’d like to sell the timeshare, you’re likely going to need to pay additional fees to a site like Redweek, Craigsist or Ebay to advertise it. If you are able to find a buyer, you’ll likely need to pay closing costs and transfer fees to your resort as well.
Lie 3. If you buy our timeshare, we’ll buy your other timeshare
We’ve heard of this lie being told by salespeople in Mexico more than in the USA, but we’ve heard from several owners that this is what they were told when buying the timeshare. Timeshare resorts aren’t in the business of buying your other timeshare. They’re in the business of selling as many of their own timeshares as possible.
Lie 4. Timeshares are a good investment
This is one of the worst lies in the timeshare industry. A timeshare is never a good investment because almost all timeshares lose almost all of their value the moment they are purchased.
Lie 5. You will be able to use the timeshare whenever you want
This despicable lie is commonly told verbally during the sales presentation and rarely ever appears in a contract. A salesperson may promise that you can book the timeshare during the high season, but when you go to do it, you’ll find that the dates are unavailable. Ironically, those high season dates will likely be available on sites like Expedia for non-owners to book. This is because resorts can make a lot more money from non-owners who aren’t already obligated to pay them regardless of if they’re able to book during the high season or not.
Timeshare Exit vs Timeshare Resale
Most timeshare owners that pursue a timeshare exit service have first tried to sell their timeshare or give it back to their resort unsuccessfully. It can be extremely difficult to sell a timeshare on the resale market because there are so many already available for sale online on sites like Ebay for $1.
Some owners have found success with selling their timeshare through a timeshare resale broker, but these brokers will typically only work with high-value timeshares because they work on commission. If your timeshare is only worth $1, a timeshare broker won’t have much interest in working with you because their commission will be too low. It is illegal in most states for a timeshare resale broker to charge an up-front fee, which is why the commission structure is used for a broker’s compensation.
