Because of the active suppression of the timeshare resale market on the part of major resort developers, the aftermarket that consumers face is often quite daunting. Besides the ever-present threat of scam artists and schemers looking to make a quick buck, owners looking to exit or cancel their timeshare obligation – having already accepted that it’s all but impossible to make back your money, let alone turn a profit – are often solicited by third party companies offering speedy resolutions and money-back guarantees.
Of course, as we’ve written before, it’s important to take all of these claims with more than a few grains of salt. Start by asking how these companies operate. What makes them any different than you when it comes to interacting with the resort?
The Importance of Attorneys
The short answer is that there really isn’t much separating their tactics from the ones available to you. The vast majority of these private companies simply interface with the resort, or else charge you, the consumer, to list your timeshare unit on a resale site on your behalf; as anyone who has tried to take their timeshare into their own hands can attest, neither of these methods offers any guarantee of success.
Other companies, often called “redemption companies,” do have established ties to resort developers, but still can’t offer a genuine guarantee of success to consumers; most of these companies operate by means of informal inventory relationships with resort companies, who buy back bundled interests in bulk. There is never a guarantee that a developer will be willing to take back your interest, however – depending upon market conditions, your specific interest may not be remarketable, meaning that there’s no value in it for the big resorts.
And while all of this is happening, you may still well be on the hook for many fees, debts, and interest payments until the “deal” – such as it is – goes through. If it does, instead, fall through, which is quite likely, you may not get that money back that you were promised; these companies pop up and disappear with some regularity, and you can’t be certain that they’ll be around in a few months or a year.
Before falling victim to the old “once-bitten, twice shy” adage, turn to a licensed attorney. Remember, after all, that you’re not just trying to terminate a timeshare, but a timeshare contract. Contracts are legally binding, and “getting out of” one is a legal issue, much better suited to a lawyer than a marketer.
And unlike private companies, attorneys have the option of litigation at their disposal, and are beholden not to quotas or private partnerships, but only to the best interests of their clients. Having a true advocate and partner in your corner – one whose services offer you certain shelters from debt collectors and other obligations – is a step up from a shady third party, whose only interest, ultimately, is in their own bottom line.
One other advantage of attorneys? Their broad network of connections and partnerships! We’ve worked with many other law firms over the years in support of clients’ needs, and we’re proud of the connections we’ve facilitated.
What makes Finn Law Group so popular within the industry?
The Finn Law Group eats, sleeps, and breathes timeshares. This specialized focus on resort release and timeshare cancellation matters has earned us the ear of media outlets ranging from the New York Times to Orlando’s News 6.
The timeshare industry is a unique animal that doesn’t quite fit easily into any other category. For example, while they are often marketed and sold like real estate, most vacation ownership interests don’t actually convey deeded ownership of a property – though some unscrupulous developers will work like crazy to convince you that they do. Therefore, issues relating to timeshares often fall beyond the purview of conventional real estate transactions.
And the above point is just one top-of-mind example about what sets timeshares apart; we could just have easily pointed to the industry’s uniquely high pressure sales tactics, to the presence of steadily rising maintenance fees, or to the statutory protections that are in place for consumers, which are easy for newcomers to overlook or misunderstand.
Because of our narrow focus – and our five-star track record of results via litigation, state and regulatory filings, and litigation – our team often receives referrals from other attorneys who recognize that the timeshare industry is quite specialized.
As we discussed earlier, going to an attorney is an important first step in the timeshare cancellation process, as we’ve noted before: Retaining an attorney offers you, as a consumer, leverage in negotiations, along with certain protections from debt collectors. For attorneys who want to truly make sure that their clients are effectively represented, it can be helpful to connect with seasoned industry experts. That’s where we come in.
Led by Attorney Michael D. Finn with 50 years of experience, the Finn Law Group is a consumer protection firm specializing in timeshare law. Our lawyers understand vacation ownership as well as the many pitfalls of the secondary market of timeshare resales. If you feel you have been victimized by a timeshare company, contact our offices for a free consultation. Know your rights as a consumer and don’t hesitate to drop us a line with any questions or concerns.