• February
    08
    2019
  • 3 min read

Got A Timeshare Problem? You’re Not Alone

timeshare problem

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If you have a timeshare problem, we can help!

Looking for someone to help you with a timeshare problem? You’ve come to the right place. As consumer advocates, we’ve seen it all. Let’s look at some common timeshare problems and possible solutions.

Timeshare Problem #1: I can’t make my timeshare loan payments

With the average costs of timeshares topping $20,000, many owners finance the initial cost of the timeshare. And from time to time, owners have trouble making their payments. First, contact your loan holder and try to work with them. Possible options include refinancing or taking out additional loans. However, if you can’t work things out, you may face damage to your credit score and eventually foreclosure.

Timeshare Problem #2: My maintenance fees increased a lot

Like everything, maintenance fees go up over time. If you’re lucky, they increase slowly and at the same rate as your income. Unfortunately, sometimes they increase a lot and quickly. And even more unfortunately, there isn’t much you can do about it this year. Your timeshare Homeowners Association sets your fees and timeshare companies control many HOAs. However, owners do have a voice in some HOAs. If yours does, get involved and see if you can influence future fees.

Timeshare Problem #3: I can’t afford my special assessment

Special assessments can be very unwelcome surprises. Like maintenance fees, special assessments are set by the HOA and like maintenance fees, you are required to pay them. While you can plan for maintenance fees, special assessments are not predictable. If you can’t pay, contact your timeshare company immediately. They may be willing to work with you on a payment schedule. However, you will probably lose access to your timeshare until you can pay.

Timeshare Problem #4: I have new health issues and can no longer travel to my resort

If your timeshare company offers exchange programs, you may be able to access a different more appropriate resort. Many companies offer a range of resort types and locations. Something closer to home or someplace with more accessible amenities might be available to you. You will probably pay a fee to be eligible for using the exchange as well as a fee to make the exchange. You may also have to upgrade your plan or purchase additional points if you’re exchanging for a premium resort or interval.

Timeshare Problem #5: My kids are past the princess phase

Timeshare contracts last a long time—a lifetime in some cases. It’s only natural that your family’s tastes will change. And if your timeshare caters to a specific niche or activity, you may grow out of it. You have a couple of options if you own a timeshare you don’t want to go to anymore. First, if you have access to an exchange program, you may be able to go to a more appropriate resort. As we already mentioned, exchanges will charge additional costs. Or, you might be able to rent out your timeshare to someone else. While you’ll remain the owner and continue to pay maintenance fees, you may be able to make back enough money to vacation elsewhere.

Timeshare Solution

If you’re unable to solve your timeshare problem, it may be time to consider timeshare cancellation. We’re a consumer advocate company helping people like you get out of their unwanted timeshare safely, legally and forever. We’d be happy to talk to you about what we can do for your. Contact us for a free consultation today.

(Image Source: Canva)

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