Timeshare Trap

Timeshares are one of the worst investments you can make. This journal is to inform people who are thinking about purchasing a timeshare not to do so and help those trying to get rid of their timeshare.

Friday, July 14, 2006

Timeshare Relief Question & Answer

The following question came in which we believe is worthwhile answering:

"We have listened to a TSR "pitch" and were told over 900 folks have successfully been able to have their timeshare transferred from their ownership. Was this a blatant lie? Are the testimonials on the TSR site a complete fabrication?"

For those that aren't familiar, TSR is Timeshare Relief which is a company that will take your timeshare if you pay them several thousand dollars. While it may be true that they have taken timeshares from people, the scam comes in that you are paying them to take the timeshare. If you have reached the point where you are willing to pay someone to take your timeshare, go to one of the resell timeshare forums and offer your timeshare for $500 or even $1000. There are a lot of people that buy timeshares from people who want to get out of them and then resell them for a profit and many will take them for free if you offer them. The Timeshare Relief model is another firm taking advantage of those who find themselves in a timeshare trap.

9 Comments:

  • At 7:12 PM, Anonymous Jen said…

    I inherited a timeshare from my father. He bought into it to use and to pass down to his children. So far, only the later occured--unfortunately as far as I'm concerned, as I have no interest in timesharing. I'm a strictly pay-as-I-go kind of girl.
    I've done enough research to know two things. I'm considering going to TSR and I want rid of this thing ASAP.
    Now I'm trying to sort out everything I've heard to see what makes sense and what doesn't. I'm a little confused about your reference to "900 folks." I might be 901 and if I'm relieved of a costly and valueless property, should I feel scammed? Perhaps you see something there I don't.
    I'm also confused about whether people paying TSR for the transfer is such a bad thing. From what I've found, my timeshare is valueless and I just want rid of it before maintanence fees and sale costs mount up.
    TSR would essentially charge me for a service (take my timeshare off my hands.)
    I'm starting to look at it this way. I could go with TSR now and have it over with immediately. I might also try every option (as you suggest) including trying to give it away, still fail, and spend even more in maintanence fees, listing fees, as well as who knows how many hours of my valuable time.

     
  • At 11:44 PM, Anonymous timeshare trap said…

    While most timeshares have little to no value, most don't have negative value. Getting rid of it won't necessarily be easy, but taking an additional heavy loss isn't usually necessary. Of course you must look and evaluate your particular situation and if you really have the worst of the worst in timeshares, then maybe that is an option.

     
  • At 11:05 AM, Anonymous Jen said…

    Thank you for your reply. Simple, understandable and concise. I've gotten so many extreme views and ideas its hard to know who to trust or believe sometimes.
    My father wanted to sell it before he died. I don't know much about that except that he'd grouch. He was a pretty resourceful guy, so...I'm afraid if he failed to get rid of it...that's a really bad sign.
    What frustrates me is that no one in the timeshare industry gives you the straight scoop. That's what drove my father nuts. From the seller on down its nothing but slices of the truth at first (usually the best ones) with the rot saved for later.
    Anyway, I'm venting. Sorry. I've dealt with this problem, albeit vicariously, for years.
    The thing that strikes me about Timeshare Relief is the clarity and concision of their logic. It hurts, but it makes sense. I've done the research, and unlike just about every other option, it seems to fit my particular circumstance. Your judgement that it might be a viable option was considerably reassuring. Thanks again.

     
  • At 11:40 AM, Anonymous timeshare trap said…

    Just to clarify, I know nothing about how timeshare relief is run as a business and do not endorse them. It would pay to check with the better business bureau to see if they have any complaints filed against them.

     
  • At 1:25 PM, Anonymous Jen said…

    Just so other readers know, I checked with the Better Business Bureau and they check out.

     
  • At 2:51 PM, Anonymous timeshare trap said…

    Hmmmm...you certainly didn't check out very well. Here are the BBB reports:

    Better Business Bureau Serving Southern Nevada
    2301 Palomino Lane
    Las Vegas, NV 89107
    (702) 320-4500
    Fax: (702) 320-4560
    info@vegasbbb.org

    BBB Reliability Report

    Timeshare Relief
    3565 S. Las Vegas Blvd. #200
    Las Vegas, NV 89109


    General Information

    Principal : Owner/Manager
    Phone Number: (800) 818-0876
    BBB Membership: This company is not a member
    Type-of-Business Classification: Timeshares - Promotions


    Customer Experience

    Based on BBB files, this company has an unsatisfactory record with the Bureau due to one or more unanswered complaints.

    When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.

    The Bureau processed a total of 14 complaints about this company in the last 36 months, our standard reporting period. Of the total of 14 complaints closed in 36 months, 14 were closed in the last year.

    These complaints concerned:

    11 Contract Issues
    2 Sales Practice Issues
    1 Billing or Collection Issues


    They were closed as:

    12 No Response
    1 Unresolved
    1 Administratively Closed

    There is also another one called
    TIMESHARE RELIEF ORGANIZATION (TRUSTED RESOUR
    2833 N. Central Avenue
    Phoenix, AZ 85004

    We do not have a report on this company. This may mean that the company is new to our area.

    So of the two companies using the Timeshare relief name, one is unsatisfactory and one is too new to have information yet -- I would suggest staying away.

     
  • At 9:39 AM, Anonymous Jen said…

    Interesting. That is not the information I saw there in August. The TSR I looked up was located in southern California and it showed satisfactory results.

     
  • At 9:59 AM, Anonymous Anonymous said…

    I have been scammed by Timeshare Relief Organization/Trusted Resources by a couple of crooks by the [alias I'm sure] names of Rex Swayze and Peter Davis through a call telling me that they knew I had a week with Westgate I would loose if I couldn't use it by the end of August and they could rent it for me for a one-time rental pool membership fee of $835.00 and once rented I would receive money from them to help with maintenance fees for the amount of $815.00 and each year I could let them rent it for me and receive money from this rental agreement and never have to pay them for the service again. They used "Trusted Resources at Westgate" for my assurance of being legitimate. I
    cannot contact them on the customer service number they gave me, I only get a recorded message. I know I have been stupid and I hope others out there will contact every agency they can if this has happened to them and report it as I have because everyone I contact tell me that they have to have a chain of this happening before investigating these frauds!

     
  • At 2:30 PM, Blogger joseph muffin said…

    If you want to make sure that the timeshare transfer company does exist, you can check it out at the local government agency responsible for business registration. Also, try to search more of this company on the internet.

     

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