Frequently Asked Questions
Who is ARDA?
The American Resource Development Association (ARDA) guides the timeshare industry in promoting both health and safety. They’ve helped establish guidance to the industry by establishing mechanisms to protect participants (developers and consumers). This includes escrow funds for purchasers, public offering statements and budgets, financial assurance, and rescission periods*. ARDA is an integral part of creating legislation for the continuously growing timeshare industry. As consumer preference shifts, ARDA is committed to keep up with the changing trends. They look to inform you of the timeshare industry as a whole so you can have a better understanding of the industry.
* A borrower can cancel the line of credit or loan of home equity with a new lender or cancel a refinancing with another on a current mortgage within three days of closing the agreement.
How can I protect myself from scams?
This is why we are here to help! Identifying a potential scam for timeshare exit can be difficult. Looking at our different reviews and ratings will help you uncover a website that could be scamming you. If you’re considering a website that we have not listed, we have put together a few ways to determine whether the website is a scam.
- Do they have numerous positive reviews from reputable sites such as The Better Business Bureau (BBB) and Trustpilot?
- BBB usually does a great job with identifying companies in operation. Better companies will usually be accredited by BBB and have a great rating with positive reviews to back it up.
- Companies will register with Trustpilot to give clients a platform to express their experiences with the respective company. Reputable sites usually take advantage of this opportunity.
- Are these reviews current?
- Do they offer Escrow or a money back guarantee in writing?
- A legally binding obligation to help you exit your timeshare is a great way to protect yourself from giving a company money who will not deliver on empty promises.
- If they ask for significant up front fees, this could be a cause for concern
What are my exit options?
We have provided a list of great companies to help you exit your timeshare. However, there may be some steps you can take to see whether you need to get into a timeshare agreement at all.
- Talk to your current timeshare company
- They can give you a better idea of the extent of your ownership and could offer you simple options with no need of a third party.
- If you’re concerned with maintenance fees, you could consider renting out your timeshare
- Can you resell your timeshare?
If you have a contract and timeshare company making the timeshare exit process difficult, we suggest referring to our extensive list of timeshare exit companies. Most of which have dealt with all kinds of difficult circumstances in which clients have been placed.
What is the most important consideration when choosing a timeshare exit company?
We are firm believers that the best information for knowing which timeshare exit company is the best for you comes from past client testimonials. This is one of the reasons that we’ve summarized and compiled examples of reviews for each timeshare exit company for you to read. Past customers of a company will be the most informed on the experience and service that will be provided to you. We recognize that each experience will be different according to the individual but positive testimonials are a great indication of a good company.
Where can I find more client testimonials?
In addition to those on our site, there are a few reputable sites that we suggest looking into first. The sites that many verified and positively reviewed companies used are The Better Business Bureau (BBB) and Trustpilot. BBB will accredit reputable businesses with evidence of providing the goods or services according to their and client reviews. This is a method to know whether the bulk of the reviews are reliable as they can often be fabricated by people looking to help or harm a given business. Trustpilot does not accredit businesses but is well known for receiving reviews by past customers of companies within numerous industries. A company with a high volume of positive reviews is something that you should look for when selecting a timeshare exit company.
How much should my timeshare exit plan cost?
Every case will be different according to the individual. However, we do not want you to pay more than you should when consulting with a timeshare exit company in your consideration. We estimate that it will cost you around $3,000 – $5,000. This is just a basic range but some companies will charge more or less depending on your case. If your timeshare exit company charges you far more, especially upfront without any service rendered, it could potentially be a scam.
What should I do if I’ve paid money to American Resource Management Group d.b.a. Resort Release, American Consumer Credit or another exit company?
We suggest you take immediate action to receive legal help if you’ve encountered an exit company who’s taken your money for little to no service in return. To protect your money and rights, you should contact your attorney general and the attorney general located near the exit company. You should inform them of your time and monetary commitment to these companies. If you are still looking for an option to get out of your current timeshare agreement, there are other reputable companies that we have listed on our site.
Who is the coalition for responsible exit?
It is a group composed of timeshare developers, exchange companies, and ARDA Resort Owners’ Coalition (ARDA-ROC). This group seeks to provide timeshare owners with safe and responsible ways to exit their current timeshare agreements. Some of the members include: ARDA, ROC, Bluegreen Vacations, Marriott Vacation Club, Sheraton Vacation Club, ect. A full list of members can be found at https://responsibleexit.com/
Is a timeshare an investment property?
A timeshare is not an investment property. The general rule of thumb for investments is for them to generate income, or appreciate in value. A timeshare usually does not fall under either category. This is much of the reason timeshare owners often see timeshares as more of a burden to them financially than an asset. There is a large amount of used timeshares in the market among other barriers, making it difficult to make a profit from your timeshare in the long run.