As of the year 2018, there are only a couple of legitimate times are cancellation companies in the world. Most of the times our owners have a really hard time accepting the fact that they have spent tens of thousands of dollars on it and have absolutely no way of redeeming any of it. They have a hard time accepting that the timeshares have no tangible value. Eventually, when the timeshare ends up becoming a financial burden, the first inclination would be to rent it or sell it out.
Unfortunately, most of the companies have sprouted up over several years, and a lot of them have been exploiting the misconception that timeshares are very easily sold. It is definitely not the case.
All of these companies end up falling into two different categories. There are some very sketchy type of companies that will claim to sell or even rent your timeshare. They definitely cannot do that. The fraudulent type of companies will claim to have a buyer waiting on the wings which they definitely don’t. Both types are very awful, and there are a lot of odds of someone actually purchasing or renting your timeshare if you do not consult these kinds of companies.
The odds are definitely terrible, because of the glut of timeshares on the secondary market. Think about it. Why would anybody pay you for a timeshare when there are so many listed out on the internet for very less money?
The first thing that timeshare owners we need to do is face facts. The internal revenue service will value your timeshare, and all of them are worthless. There are no legitimate charities that will want your donated timeshare. Times are companies are actually allowed to remain in business, because they will be spending millions of dollars to influence Republicans and Democrats in of the state government.
Even if you end up selling your timeshare on eBay for a single dollar, you are still responsible for the payment to the timeshare cancellation company if your buyer ever stops making the payments. You should always keep this in mind. Most of the times, our companies will structure their contracts so that the original owner can only transfer the timeshare, but the title does not transfer. It was legally obligate you to pay monthly mortgage or even an annual maintenance fee. The new owner will have a legal title, but the original owner will have to pay for it. You will definitely still be on the hook for any payments.
That is why, timeshare cancellation has always been a hassle, and it has been problematic.