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If A Timeshare Goes Under, What Does That Mean For You?

timeshares closing

September 2, 2020 – by Primo Management Group

timeshares closing

Businesses go under, it happens and it’s something every owner and manager need to be aware of. It doesn’t matter how large you are, you can easily lose your momentum and be surpassed by another company or even another industry. Think of a company that was a leader in selling cameras. They may still be around but how bad has their business been hit since everyone’s cell phone has cameras now? This type of thinking also applies to timeshares. As a business, no one overthrew timeshares, although Air Bnb’s certainly have come up to be a challenger. However, timeshares are in more danger than ever and it’s due to the coronavirus pandemic, something they couldn’t have expected but something that could end their reign.

Again, it wasn’t a competitor that caused these problems, it was the hit on the travel industry overall. Other companies are also struggling because of this including airlines, car rental companies, hotels and theme parks to name some examples. However, all of these businesses have options to stay afloat, additional methods of income, government assistance and stockholders who do not want the companies to fall flat. What do timeshares have? Owners, owners who are sitting at home during this pandemic and refusing to pay for their property when they can’t even go there. These resorts are struggling in a way like they never have before and it’s something that needs to be considered if you are an owner as this does not apply to regular foreclosure rules.

What happens if the company you’re working with goes under? What happens if your resort in Orlando or Las Vegas goes under and you no longer have any claim to that property? That’s the big question and unfortunately, you’re probably not going to like the answer. You lose, you lose your property and the investments you’ve been making towards it. Remember, you do not own your property so there’s no way of claiming your spot if the company who does own the property goes under.

So, should you continue to pay for a timeshare that may or may not even be around in a year? Probably not, and like most people you probably aren’t a fan of the fact that you’ve had to keep paying during the pandemic to begin with. Rather than continuing to send money for a vacation spot you may never use again, perhaps it’s time to cancel this deal. If that’s what you would like to do or at least learn more information about, make sure to contact Primo Management Group for a free consultation.

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Get A Free Consultation

Relieve Yourself of the Unwanted Timeshare Burden

Your information is 100% secure and encrypted. We will never sell or share your information with anyone.

Frequently Asked Questions ?

How does PMG get me out of my timeshare contract?

PMG is not a resale, transfer, or donation company. We are consumer advocates—we help to negotiate the release of your timeshare contract obligation. We do not buy, sell, or rent your timeshare. Simply put, we help you to get out of your timeshare contract forever.

How long does the process usually take?

Usually less than 12 months, but it all depends on your situation. Let us help you. Speak to your advisor about the time, and what delays the resorts have put into place to prevent timeshare owners from departing their ownership. If you have a mortgage or past due maintenance fee, the process takes more time.

How much is my timeshare worth?

This is probably going to hurt, but whether you paid $5,000 or $50,000 for your timeshare, the IRS values all timeshares as worthless investments. In addition, that timeshare would have negative value due to the annual maintenance fee bill which compounds year after year. That is until PMG helps you cancel your timeshare.

Can I use your service if I still have a balance owed on my mortgage?

Yes. Whether you bought your timeshare 20 days ago or 20 years ago, PMG has a solution for you and is here to help.

Will my name be off the timeshare?

Yes! Permanently! GUARANTEED!

In addition to getting me out of my timeshare, can you recover the money I’ve already spent on mortgage payments and maintenance fees?

While we are able to recover money in rare cases, beware of any timeshare cancellation company that entices you with the promise of fund recovery. The truth is, the resorts are loath to give back the money they’ve already taken for timeshares.

Are your consumer advocates really “consumer advocates”, or is that just a fancy word for salesperson?

Because most of our clients have had their trust betrayed by timeshare salespeople, we understand how some consumers can become a bit jaded. When you call us for a consultation, that’s exactly what you get, a consultation. At PMG, our job is not to sell you; our job is to help you get out of your timeshare. Which is why we have numerous 5-star reviews and an “A” (excellent) rating from the BCA.

Why should I choose PMG to get me out of my timeshare?

We go above and beyond for our customers by helping to protect you, and have the best success rate in the industry, rated 5-stars by clients. We pride ourselves on providing our customers with the best customer service in the industry. When you contact our company, you speak to a live person, not an automated system or voicemail. We offer a 100% money back guarantee, and we can provide documented proof of our success in helping customers just like you.

What happens after I sign up with you? Will I be apprised of your progress?

At PMG, we pride ourselves on our hands-on, boutique-style customer service, so every new client will work with our expert, experienced team whose job is to keep you in the loop throughout the entire cancellation process. We are always just a phone call away.

How much is your fee?

Not all timeshare experiences are created equal. Some are more complicated than others, and every situation is different. That’s why our trained timeshare elimination consultants will ask you a series of questions designed to determine exactly what needs to be done to terminate your timeshare, how long it will take, and how they can best advocate for you. We will always seek the most cost-effective route for you.

What if I still have more questions?

Canceling a timeshare contract is not a cookie cutter process. With each situation being unique, once you complete the form below an experienced consumer advocate will call you today to discuss your options.