If you are like many timeshare owners, you probably never expected to experience the escalating fees, nor the financial impact that buying vacation time would have on your budget. It is something we are all aware of when we first consider signing on the dotted line, but over time, the financial burden of maintenance and repair fees, membership premiums and other services can feel like a trap.
One of the assurances that developers and timeshare sales teams give you, is that it is an investment. By purchasing your timeshare and making your monthly and annual payments, you are providing the equivalent of a vacation home for your family, at a fraction of the cost or legal responsibility of owning a second home. From that perspective, you are saving money right?
The problem is that at the end of a ninety-nine-year contract, you own nothing. You are not investing in a property as an owner, nor can you sell the entire property, because you only own a portion of it. The best you can do is attempt to sell your annual time allotment to someone else. This is a path that many timeshare owners attempt, when they have decided that the cost is not worth the benefit.
Having been assured that selling your time to someone else will be easy (after all, who doesn’t love a vacation deal?), most timeshare owners are angry and frustrated by the fact that the timeshare resale market is flooded. It’s a buyer’s, not a seller’s market, and donating your timeshare to a charity (assuming you can find one that is willing to accept it) does not provide a tax write off, the way a cash or principal asset donation would allow.
The Money You Save: How Would You Use It?
In the current economy, cash flow is on everyone’s mind, as is reducing your household monthly expenses so that you can get ahead. If your timeshare has become a financial burden that is interfering with your budget and priorities, pause and consider where else you could be using the money you are spending right now, on timeshare fees.
Pay off your car or escalate your mortgage payments.
Reduce your credit card debt.
Save for a down payment on a real vacation home (one you own outright as a personal asset).
Increase your 401k contributions (and get a bigger annual tax return).
Start a college fun for your child (more tax write offs).
Save for luxury vacations on Airbnb and rent in exotic locales.
Balance your monthly budget.
How many of those options sound like a better investment of your time and money? For timeshare owners, once the glamour and novelty of reserved vacation time wears off, the true cost of your ‘investment’ resonates. At that time, many timeshare owners attempt to sell their properties because they were told it would be ‘easy’ or that their resort or timeshare was greatly ‘in demand’, and they are devastated to learn that less than 2% of owners are able to successfully transfer ownership, let alone recoup their original financial investment.
Aconsumercredit™ is American owned and operated, and we are the original solution makers for families who want a resolution to their timeshare contract. Our team of expert advisors includes legal professionals with more than thirteen years of experience. We’ve helped thousands of people find the nearest exit to their timeshare contract, without damaging their credit.
Call us today to schedule your free consultation, and learn about our compassionate support team, who will walk you through the entire process of legally resolving your timeshare contract. We guarantee that you will be free of your contract in twelve months or less, or we’ll give you your money back.