Timeshare Exit Team
Timeshare Exit Team Review
Timeshare Exit Team is headquartered in Kirkland, Washington. Founder Brandon Reed is present throughout the website narrating videos and sharing company philosophies. We like to see this level of participation from the owner. However, the timeshare exit companies with the most prominent presence do not mean they are always the best ones. One of the best companies in the industry is Timeshare Compliance, this may help you before reading this article for exiting your timeshare agreement in 2022 and 2023.
Cancel Your Timeshare!
You may have seen money-management guru Dave Ramsey openly endorses Timeshare Exit Team on his radio show. Dave advises on how to not fall for the timeshare trap in the first place, and it’s not all. He teaches people to live within their means and how to pay off debt step-by-step. If you’re looking for financial advice, he’s worth a listen but keep in mind he does seem to have a personal stake in Timeshare Exit Team which isn’t always a good thing.
We see a slider with photos of people most likely to exit their timeshares via a good website. There’s a promo code listed for a discount on their services, which we haven’t seen before. Then aquote from a 2019 study that reads 74% of timeshare owners have lifetime contracts. $1,000 is the average timeshare fee per year cost, and 400 timeshares are listed on ebay for less than $1. And lastly, Timeshare Exit Team has helped over 22,000 people exit their timeshare contracts. Frankly, they are one of the most well-known timeshare exit companies on the market. They are updating their site in 2022 and we will continue to monitor in 2023 if this trend continues. We take pride in providing this information because it shows they are reinvesting in their image.
How We Work Section
- Free consultation – The time limit on this call is 45 minutes to one hour, so come prepared.
- Meet Your Team – This is where you will hear about Timehshare Exit Team’s services, cost and get contact information for each exit specialist so you can exchange emails, phone calls, etc.
- Rest Easy – while this statement is vague, it states that they’ll keep you informed along the way to timeshare freedom.
Before you sign another contract with a timeshare-related company, please have your attorney look over it. And understand the timeframe, cost, any additional charges, and exactly what to expect for your money. And above all else, make sure you money is held in a secure escrow account until the timeshare exit company fulfills their end of the bargain.
There is a phone number on this page that you can call or click the Schedule a Free Consultation button which will take you to a simple form you’ll need to fill out before someone will call you.
About Us Section
Timeshare Exit Team has been around since 2012; that’s pretty good for a timeshare exit company. Be wary of exit companies who are new to the scene with little online presence. Next, there is a video from Timeshare Exit Team founder & CEO Brandon Reed. The video is simple, Brandon, a former timeshare owner, sits in his office talking directly to the masses with a few slides with numbers and facts.
You can schedule an in-person visit at one of their 19 offices all over the country and in Canada, or simply call the toll-free number.
When you click the button, it takes you to the Get Started Today page. Under the form section, you’ll find Trustpilot reviews on what people are saying about Timeshare Exit Team. Click on the Learn More About Our Process link for some answers to commonly asked questions.
Everything you need to know is in your ironclad contract whipped up by Timeshare Exit Team’s law firm, Reed Hein & Associates. Then there is this tidbit. “If Timeshare Exit Team is unable to obtain an exit, you are eligible for a refund of the exit fee, fewer expenses incurred by Timeshare Exit Team on your behalf.” Thirty-six months is a long time to incur expenses on your behalf and could result in no refund at all. So ask your Exit Specialist to list all of the costs that may be deducted from your fee.
Timeshare Exit Options
The disclaimer that getting out of your unwanted timeshare can be frustrating and timely is an understatement. We appreciate the Timeshare Exit Team explaining your right of rescission, where you can give back the timeshare free and clear within the first few days of purchase.
Cancel Timeshare Reviews suggests that you contact your developer first before looking into any timeshare exit company. Did you know the same people you bought your timeshare from may have exit options for you? They are more than likely cheaper and faster than any exit company you can hire.
This section states the average time to exit your timeshare contract can be up to 36 months.
There will never be a cost listed on a timeshare exit website. No two timeshare experiences are alike. For this reason, it’s impossible to enumerate a generic quote. Factors such as your home resort, what kind of agreement you’ve signed, how long you have left on your mortgage, location of your timeshare, among other things, will determine the cost.
Timeshare Exit Team promises to be there for you should any issues arise after you exit your timeshare contract. We’re not clear if this promise will cost extra fees or how long they’ll ‘be there’ for you. This is simply not a promise a company can keep. So many businesses are here one day and closed the next. This statement feels like a ploy on an emotional, desperate timeshare owner.
Prepare for Your Consultation
This page provides a good checklist of things you’ll need to bring to the table. Coming to the consultation prepared can alleviate some of the pressure. Timeshare Exit Team also outlines what you can expect during the 45minute to a one-hour meeting. Including a quote. Good we like transparency.
In this section, we learned that Timeshare Exit Team is the DBA name Reed Hein & Associates uses for publicly facing operations and marketing. Therefore, Reed Hein & Associates is not a law firm as the name may suggest.
Timeshare Exit Team does state that if an attorney is needed, they can refer you to one. This will, of course, come at an additional cost to you.
This question is interesting: When does it make sense to refinance my timeshare?
- When you’ve found a cheaper way to vacation.
- If foreclosing on your timeshare will impact your employment due to job requirements that obligate you to maintain a minimal credit rating.
- Realizing you want a fast way out of your contract.
- When you are desperate to free up some of your money.
Having read this, we spot a few red flags. First, since when is foreclosure a good option for any reason? It’s not. We see timeshare exit companies go to great lengths to avoid foreclosure at all costs. It seems Timeshare Exit Team is adding it as an option if you don’t care about your future credit. Please avoid any move that will negatively effect your credit and your life. And preying on desperation as a way to quickly settle a timeshare contract is unethical. Please be cautious of being talked into anything your gut tells you is not in your best interest.
There is a plethora of information ranging from timeshare delays due to Covid 19 to why your timeshare is not an investment despite what you’ve been told. Grab a cup of your favorite beverage and sit awhile to read some of these articles. Educate yourself as much as possible about a subject before making any rash decisions- sorta like buying or cancelling a timeshare.
How to Avoid Timeshare Scams
A few good points to make you a better consumer.
- Don’t trust the website as your sole source of information.
- Be sure to look at .org and .gov websites like the Better Business Bureau for reports of scams.
- Has the company been around longer than five years? Have you seen it before or know someone who’s used their services?
Covid 19 Timeshare News Page
- Are there any hardship programs for Timeshare Owners? Timeshare Exit Team says no. But we say maybe. Call your developer and explain your situation. Due to hardships, there may be new options to help owners get out of their contracts during these unprecedented times.
- Can you rebook a vacation if the timeshare is temporarily closed due to Covid? Timeshare Exit Team says that you will be able to rebook at no charge, and we agree. But you will also still have to pay maintenance fees ongoing and on time. Also on this page is a long list of linked articles about travel and the timeshare during Covid 19, including many links directly to developer sites.
The Timeshare Trap
Once you see timeshare for what it is— you’ll agree it sucks! It sucks the money right out of your bank account every month with no return on your investment, ever. The ironclad contracts are difficult, if not impossible, to cancel unless you pay even more money to a third party and hope they keep their promise.
A timeshare’s value depreciates as soon as you sign on the dotted line; it’s a money pit that will never benefit you. Only the vacationers that share your rental unit for a fraction of the cost while you flip the bill for all the resort maintenance will benefit.
Whether you use it or not, you’ll be paying your hotel bill 40 years of your life. After that, your children will be responsible for your poor financial decisions. Timeshare cancellation is the only way to get out of your timeshare contract if you are past the rescission period.
Social Site Reviews and Comments
Facebook – We’re baffled as to why Timeshare Exit Team’s Facebook Business Page logo does not match their website logo. We digress. There are no visible reviews on the Facebook page, but we see quite a few laughing emojis underneath their advertisements, reading over some of the posts. Still, the comments have either been deleted or never existed. Oddly, there is not more engagement on their page as this company is one of the largest timeshare exit companies.
YouTube – One explainer video, seven video testimonies, and one video starring Brandon, the owner. Again, we expected an entire social media team to update their social sites frequently, but that doesn’t seem to be the case. And just like Facebook, the comments have either been deleted or never existed.
Yelp – Some Yelpers have reported more than one office has closed, and they are frustrated with Timeshare Exit Team. Some consistent complaints include bankruptcy, lost court case against the developer, no refunds, and fraud. Please scroll to the bottom of this page to read genuine reviews.
The Better Business Bureau
Currently, there are 613 reviews with the BBB with 4.3/5 stars overall. There have been 389 complaints closed over the last three years. At this time, Timeshare Exit Team is not accredited with the BBB and has an F rating due to many unresolved complaints.
Most of the 5-star reviews seem detailed and informative, and we have no reason to believe they are fake, likewise with the 1-star reviews. We suggest you take some time to read over the good and bad to determine if this company is right for you.
CURRENT BBB ALERTS FOR THIS BUSINESS
- Many customers say that Timeshare Exit Team did not keep them adequately updated during their contract period. Nor did they honor the “100% guarantee” refund.
- On December 7, 2018, Timeshare Exit Team finally responded to this complaint and worked with BBB to address these concerns.
- There have been no updates on this alert as of today.
Lawsuits Involving Timeshare Exit Team
There is always a chance of lawsuits with any big company, but Timeshare Exit has its share of legitimate cases regarding unethical business practices. Trustpilot review site has hundreds of reviews of soured customers that have been unsuccessful in getting their guaranteed money back from Timeshare Exit Team.
As addressed above, Timeshare Exit Team has put their customer’s credit at risk. Know your rights. HIPAA violations are serious business. Orange Lake Resorts investigation found over 95% of client cases were outsourced to vendors. Also, clients were not given access to the actual law firm handling some of their claims. This is a red flag. You should have access to all parties working on your exit case at all times.
Timeshare Exit Team is not the only way out of a lousy timeshare situation. First, we suggest you hire an exit company owned by a law firm, is an actual law firm or will work with a reputable law firm and give you their information so you can contact them too. This isn’t always the best solution though so we encourage you to talk to the best exit companies. Second, make sure your exit company has an escrow option to hold your money, and that way, when the exit company fulfills the promise to get you out of your timeshare, only then will they get paid. This could significantly shorten the time they spend working on getting you out of your contract. And it will guarantee your money is safe less they fail to cancel your contract.