The question about Timeshare Disposal companies is popping up very often lately in the numerous consumer inquiries we receive at the Customer Care Department.
A very difficult question, as there seem to be so many companies that all off the sudden offer a disposal service and not all of them have been around long enough to assess the results they have obtained so far.
We from Mindtimeshare would like to provide you with some guidelines on how to detect those “dubious” ones from the other companies that actually might be able to help you with the task.
From the testimonials we have received from consumers and their experiences, at least we know how to point out those companies that from start are not really sending out the correct signals.
First of all, let us have a look how Timeshare Disposal Companies offer their services to the Timeshare consumer.
Timeshare Disposal Companies market their services in many different ways. You may get a (cold) call from someone asking if you are interested in selling or “getting rid” of your timeshare. A lot of these cold callers don’t really offer this service straight away and invite consumers over to meetings where the disposal will be discussed.
Be careful with these ones, as a lot of times these meetings end up being about something completely different and Timeshare Disposal is hardly or not at all discussed. It is also questionable how these companies obtained your personal details in the first place and obviously are not honoring the Data Protection Law.
Lately we have also seen a lot of the so called Compensation Claims companies that actually offer the additional service of Timeshare Disposal. Consumers are cold called and invited over to meetings in UK and Spain in order to discuss a Class Action Claim against their resort or Holiday Club, but in reality the main objective is the offer for Timeshare Disposal which comes with a substantial price tag. (Examples are ITRA, Professional Services International, Multi Claims, etc.)
Or you may find a Timeshare Disposal Company on the Internet when you search for how to dispose or sell your timeshare.
We all have seen the slogans on certain websites that claim: “Tired of your timeshare? “No more Maintenance fees!” “Take the burden away” etc.
Careful with what is discussed with the Timeshare Disposal Company though once you have made the contact!
They might attempt to scare you with misleading stories about your timeshare ownership. One of the main stories used is the one about perpetuity and your children being liable for your timeshare after you pass away. This is a very strong pitch and a lot of timeshare owners do get scared when they are told about the perpetuity clause.
Please make sure you speak to your resort and check your Timeshare Documents before jumping into conclusions, as most of the times your Timeshare is NOT in perpetuity!
Another popular pitch is on how your maintenance fees will go up every year and they even use a “Maintenance fees calculator” to show you the actual figures that always go into thousands and thousands of pounds / euros. This rather “aggressive” pitch is mainly used to make the fee the Disposal Company is asking for look like “a small fee” compared to the money you are going to save yourself in the coming years.
Of course if you have been trying to sell your timeshare for a long time; the above may seem like an attractive and reasonable way out. However, don’t ever get pressured into making premature decisions.
We cannot stress enough that you should always check all the facts before even committing to paying for a disposal service!
And please be aware that if the company does not fulfill the service offered (regardless of being “guaranteed”), you can still face significant financial and legal consequences.
If you want to sell your timeshare, you may want to check with your Resort / Developer, Resort Customer Services Department, or Timeshare owners association to see if they offer a resale option.
Whatever resale company you use, always remember that as per the European Timeshare Directive it is not allowed to request an upfront payment from timeshare owners for a resale service. So do NOT trust those resale companies that ask for a deposit, liability insurance, Guarantee bond or any other payment upfront.
If you feel you are getting nowhere with the resale and simply want to dispose of the timeshare then again ALWAYS check with your resort first about the options they may offer to relinquish the ownership.
Be aware that using a Timeshare Disposal Company will probably be an expensive and uncertain way to dispose of your timeshare. If on top of that they require an upfront payment this can become an uncertain solution as there is no way the disposal company can actually guarantee that the transfer / disposal will take place.
Once you have done the inquiries with the resort and have come to the conclusion you still need a third party company to handle your disposal, you need to do a little bit more of “homework” on the company you select for this purpose.
Please also read our other article published: “How do I select the right Timeshare Disposal Company if I do need one?” for more guidelines on how to make sure you have selected the right company.
In any case of doubt, please always remember that you can contact us at email@example.com for advice and information.
You better be safe than sorry!