Choosing the right timeshare exit company is one of the most important financial decisions a timeshare owner can make. Unfortunately, the industry has seen its share of questionable practices, with some companies using high-pressure tactics and misleading claims to collect fees without delivering meaningful results.
That’s why it’s critical to vet any company before signing on. In this guide, we’ll walk you through the key steps you can take to protect yourself, based on industry best practices and warnings from consumer protection agencies like the FTC and BBB.
Step 1: Ask to See the Contract Upfront
Always ask to see the contract before making any payments or agreements. A reputable company will be fully transparent about the terms and will encourage you to review them carefully. According to recent surveys, the majority of U.S. consumers admit to signing contracts without reading them in full—something that some unverified companies may rely on.
If a company refuses to show you the contract in advance or says they’ll send it after you pay, consider that a red flag.
Step 2: Get a Clear Timeline for the Exit Process
While timeshare exits can vary depending on your contract and situation, a trustworthy company should give you a general idea of how long the process will take. Be cautious of companies that respond with vague timelines or offer no specifics.
In many complaints reported to the BBB, consumers described waiting over a year without updates or progress after paying large upfront fees. A legitimate company should be able to explain each step and offer regular updates.
Step 3: Ask About Company History and Name Changes
Some companies may have changed their name in the past to avoid negative press or unresolved complaints. While rebranding isn’t always a bad sign, it’s important that the company is open and honest about its history.
You can search for the company on the Better Business Bureau (BBB) website to check for unresolved complaints, regulatory issues, or suspicious activity. If a company avoids answering questions about past names or ownership, that should prompt further investigation.
Step 4: Verify Any Legal Claims or Attorney Involvement
If a company says your case will be handled by an attorney, ask for that attorney’s full name and BAR number. Any licensed attorney should be willing to provide this, and you can verify their credentials through your state’s BAR association.
Some companies falsely claim to have legal backing to gain trust. If they dodge the question or provide incomplete information, that’s a red flag.
Step 5: Ask for Proof of Past Cancellations
A legitimate company should be able to show evidence of past successful exits. This could include anonymized cancellation letters, verified testimonials, or case summaries.
If they can’t offer any proof, or only share vague success stories without documentation, think twice before moving forward.
Step 6: Do Independent Research
Check multiple sources before making a decision. Look up the company on watchdog sites like the BBB, read independent reviews, and search for any enforcement actions or alerts from the FTC or your state’s attorney general.
Unreputable companies often rely on urgency and pressure to push people into quick decisions.
Take your time and be thorough.
Final Thoughts
Finding a trustworthy timeshare exit company can be challenging—but it doesn’t have to be risky. By following the steps above, you can spot the red flags early and avoid common traps.
Sources:
- Federal Trade Commission (FTC): https://www.ftc.gov/
- Better Business Bureau (BBB): https://www.bbb.org/
- State Consumer Protection Offices: https://www.usa.gov/state-consumer
State Attorneys General: https://www.usa.gov/state-attorney-general
