The Only Way Out.

[FloridaGuy Member Find all posts View Profile Close FloridaGuy]

The only way out is to stop paying them. Don't take their threats seriously. They won't sue you, they can't take your house, they can't do anything but harass you like the liars and bullies that they are.

If your timeshare is paid off you can only win by not paying. Eventually they should offer you a Deed in Lieu. Sign it and give it over to them but don't promise to pay them one more cent nor any maintenance fees due.

If it's not paid off you will have to wait for them to foreclose. You may have to pay something to the IRS, you may take a hit on your credit score for a while but it's worth not paying thousands a year for something that is worthless.

If you don't live in the US just don't pay any more, ignore their empty threats and harassment, they can't do anything to you.

Otherwise there is not other way out, not even death. They will come after your heirs.

These things are scams, they want more money and new fees for transfers or tell you nothing is available, but it actually is if you give them more money. The places are mostly outdated and never look like the model unit you were shown. You will see bad orange and green sofas with a swirly pattern to try to make the stains less noticeable. How many years has it been since you've seen a tube TV for sale at a store, but that's mostly what they have in all the rooms.

The places are mostly outdated and falling apart and when they do need to fox them you will be billed an extra $2000 or so that year for special assessments on top of your maintenance.

Warn everyone you can to never go to a timeshare presentation. They will lie to you, but what matters is what is in the contract that you will not read, not all the empty promises. You will feel like a hostage and in the end most likely give in to just get out of there. Just walk out even if you don't get the crap that they offered you to go in the first place.

What do you own? Nothing. It's less that worthless, you own a debt that you have to keep paying off forever. Yo can't even sell them most of the time for $1 on Ebay. If they had any value the timeshare companies would be happy to take them back once you paid in full, but they don't because they are worthless to them too.

Never pay them another penny is the only way to win and ignore their threats.

[Carolinian Super Moderator Find all posts View Profile Close Carolinian]

UMM, many of us actually like our timeshares and have had many great vacations with them. It sounds like you have a developer controlled timeshare and one based on a floating system or points. Yes, I agree those things should be avoided. Sticking to member-controlled resorts and fixed weeks, timesharing has worked out fine for me.

[FloridaGuy Member Find all posts View Profile Close FloridaGuy]

UMM, many of us actually like our timeshares and have had many great vacations with them. It sounds like you have a developer controlled timeshare and one based on a floating system or points. Yes, I agree those things should be avoided. Sticking to member-controlled resorts and fixed weeks, timesharing has worked out fine for me.

If it worked for you, God bless you. It will work until it doesn't. When you don't use it a year and realize you paid almost $1000 or more in tax, maintenance and exchange fees you will wise up. Also don't burden your children with this albatross. Find out ways that they can decline it after you die.

I'm just talking to the people who are unhappy. If you are happy, I think that's great.

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

I think the key is annual cost and if you are paying $ 1,000 or more yearly per week or you can no longer use them, timeshares become a liabilty. A good week at a quality timeshare in a desirable and not overbuilt location with lower than average fees that is run by an independent (of developer) HOA is generally saleable and should not become a liability.

[FloridaGuy Member Find all posts View Profile Close FloridaGuy]

I think the key is annual cost and if you are paying $ 1,000 or more yearly per week or you can no longer use them, timeshares become a liabilty. A good week at a quality timeshare in a desirable and not overbuilt location with lower than average fees that is run by an independent (of developer) HOA is generally saleable and should not become a liability.

If you have a large family and have a two bedroom unit timeshare that sleeps 6 with a sofa bed in the living room or an extra loft it's great. It's like renting a home or a big condo for $1,000 a week.

The problems is that it's good until it's not good for you and then there is no easy way out. I've read many things online where poor people think they have to make these payments or something horrible will happen to them like they will lose their house, but they cannot take your house or any other property away. They can only take the useless timeshare that you want them to take away anyway. People lose jobs, and are worried about keeping a roof over their head and food on the table should not feel compelled to keep up with these stupid worthless payments.

[Carolinian Super Moderator Find all posts View Profile Close Carolinian]

For the last five years that I have been working in Europe, I have rented my Outer Banks timeshare through a local brick and mortar timeshare specialist broker for a nice profit, so there is no need to lose money on it. My UK and South Aftican timeshares I exchange, but I use exchange companies other than RCI so my exchange fees are less. For those, my maintenance fee (including taxes) plus exchange fees work out to between US$450 and US$565. Next year, I have a 2BR exchange into London. Care to guess what that would cost if I was using something other than timeshare? Also, I will be using one of my summer UK weeks next year at the resort, so that will involve even cheaper costs as there will be no exchange fee.

As to my son, on a recent family vacation to Crimea, he and and daughter in law asked that if we ever sell our Outer Banks timeshare to please sell it to them. They really enjoy going down there, but they are both now here in Europe, too, although they will be going back to the states in a few years. They clearly do not see it as a burden. BTW, the beach cottage (actually had to drive to the beach although we did have a sea view) we rented in Crimea was far less luxurious than a timeshare and it cost almost $600 for the week.

If it worked for you, God bless you. It will work until it doesn't. When you don't use it a year and realize you paid almost $1000 or more in tax, maintenance and exchange fees you will wise up. Also don't burden your children with this albatross. Find out ways that they can decline it after you die.

I'm just talking to the people who are unhappy. If you are happy, I think that's great.

[FloridaGuy Member Find all posts View Profile Close FloridaGuy]

For the last five years that I have been working in Europe, I have rented my Outer Banks timeshare through a local brick and mortar timeshare specialist broker for a nice profit, so there is no need to lose money on it.

I've never heard of this and I find it hard to believe. If it worked for you I'm happy for you. It doesn't work for most people. I thought it was a good deal for a few years, but now I see that there is no way out.

[Carolinian Super Moderator Find all posts View Profile Close Carolinian]

I've never heard of this and I find it hard to believe. If it worked for you I'm happy for you. It doesn't work for most people. I thought it was a good deal for a few years, but now I see that there is no way out.

Buy a summer timeshare on the Outer Banks, and you can rent for a nice profit. The strongest demand is Outer Banks Beach Club I and II, followed by Barrier Island Station - Duck, but any oceanfront resort will do. The lowest demand, and ones to avoid are the inland resorts, particularly Barrier Island Station - Kitty Hawk. Use the local brick and mortar timeshare broker. They have been in business since about the dawn of timesharing and do a good job getting summer weeks rented.

Of course, if you own somewhere that is overbuilt in timeshares, it is a different rental story entirely. It is all a matter of where you own, not the fact that it is timeshares. If you can't rent your week, you must either own off season or in an overbuilt area.

[FloridaGuy Member Find all posts View Profile Close FloridaGuy]

Buy a summer timeshare on the Outer Banks, and you can rent for a nice profit. The strongest demand is Outer Banks Beach Club I and II, followed by Barrier Island Station - Duck, but any oceanfront resort will do. The lowest demand, and ones to avoid are the inland resorts, particularly Barrier Island Station - Kitty Hawk. Use the local brick and mortar timeshare broker. They have been in business since about the dawn of timesharing and do a good job getting summer weeks rented.

Of course, if you own somewhere that is overbuilt in timeshares, it is a different rental story entirely. It is all a matter of where you own, not the fact that it is timeshares. If you can't rent your week, you must either own off season or in an overbuilt area.

I would never buy a timeshare anywhere not even for $1 if they told me it was in Buckingham palace and it actually was true.

What's to keep your location from being overbuilt? Nothing. It's only good until it's not good and then it's a nightmare.

[Carolinian Super Moderator Find all posts View Profile Close Carolinian]

What keeps an area from getting overbuilt? One factor is land costs and land availibility. Finding a large enought tract in a decent location and at a cost that works has become impossible on the Outer Banks. Fairfield / Wyndham was the last one that went looking about 8-10 years ago and came up empty. There are other places like Charleston, South Carolina, where that is also a factor. Some places it may just be luck.

I would never buy a timeshare anywhere not even for $1 if they told me it was in Buckingham palace and it actually was true.

What's to keep your location from being overbuilt? Nothing. It's only good until it's not good and then it's a nightmare.

[FloridaGuy Member Find all posts View Profile Close FloridaGuy]

What keeps an area from getting overbuilt? One factor is land costs and land availibility. Finding a large enought tract in a decent location and at a cost that works has become impossible on the Outer Banks. Fairfield / Wyndham was the last one that went looking about 8-10 years ago and came up empty. There are other places like Charleston, South Carolina, where that is also a factor. Some places it may just be luck.

In all your posts in this thread you sound like a timeshare salesman.

I may be luck, and luck can run out. When it does you will regret it.

[Carolinian Super Moderator Find all posts View Profile Close Carolinian]

No, I am a former Homeowners Association board member and president at a member-controlled deeded, fixed week timeshare resort. The members of that resort had kicked its developer out years before I first bought a week there, and that was one of the attractions. Members elect the board of directors. The annual budget, including the amount of the maintenance fee is put up for vote of all the members at the annual meeting. It is a timeshare resort run by members for members. Actually, on the Outer Banks, most resorts are member controlled. Only two Barrier Island resorts (Kitty Hawk and Ocean Pines) are still under the thumb of developers.

The resorts where I own weeks in the UK and South Africa are also member-controlled. That is a big reason why the maintenance fees are reasonable. In South Africa, the developer had to be kicked out, but at the UK resort, the developer left of its own accord.

Maybe you could tell us what it is that you own that is so terrible, but you try to paint with much too broad a brush. All timeshares are not like yours.

In all your posts in this thread you sound like a timeshare salesman.

I may be luck, and luck can run out. When it does you will regret it.

[FloridaGuy Member Find all posts View Profile Close FloridaGuy]

Maybe you could tell us what it is that you own that is so terrible, but you try to paint with much too broad a brush. All timeshares are not like yours.

No, but yours is the rare exception which I never heard of and is still nothing that would interest me. 95% of the other ones are scams jokes and nightmares in my opinion and quick estimation.

In the end you do not own property, you own the promise of a week to use. Nothing more.

I can do the same by renting a hotel room and never be tied down to a lifetime of debt.

[Carolinian Super Moderator Find all posts View Profile Close Carolinian]

Still don't want to tell us what it is that you own that is so bad? Yes, there are resorts out there that are bad value and exchange systems that are best to stay away from. But there are lots of good resorts out there, too. One of the values of boards such as TS4MS to the timeshare community is sharing knowledge to be able to seperate the good from the bad. Your info on the resort and/or system which has been a disaster for you would contribute to that knowledge. The more specific info, instead of generalizations, the better.

[FloridaGuy Member Find all posts View Profile Close FloridaGuy]

The problem is that I'm not telling people that are happy with their timeshares to leave them. If you are happy I think that's great. If you are unhappy then stop sending them your hard earned money. There are some that do have value, and they have use value and if you use them that is the value. They are not property or an investment that will go up in value.