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HIGH-RISK TIMESHARE EXIT STRATEGIES
HERE’S A REAL-LIFE EXAMPLE from one owner who came to Newton Group for help exiting his timeshare contract after having gone to his resort for help: An 83-year-old gentleman in failing health met with his resort to ask them to take back his timeshare. Naturally, the resort representative first tried convincing him to keep it. After that didn’t work, the representative told this gentleman that since he currently owned a “deeded week,” he didn’t qualify for their takeback program. Instead, the representative suggested they convert him to a points-based package in order to have his timeshare reabsorbed by the resort.
The gentleman agreed, and a few weeks later, he received his updated paperwork. He immediately called the resort to request they take back his original timeshare per their oral agreement—only to discover that not only did they not convert his deeded week, but they actually sold him an additional timeshare. Essentially, this man contacted the resort to inquire about giving back his timeshare and instead of being given an exit, he was duped into “owning” an additional $40,000 worth of timeshare he did not want (bringing his grand total owed to the resort to more than $100,000), and he was stunned by how that happened. After hearing this, my company immediately helped retain an experienced timeshare exit attorney to represent this gentleman.
Sadly, we hear stories like this often. MORAL OF THE STORY: It’s dangerous to contact your resort about giving back your timeshare. They are trained to manipulate these situations and financially incentivized to do so.
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