Timeshare owners say they were looking for a way out. Instead, they got locked into yet another expensive contract.
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Channel 2 Consumer Investigator Justin Gray looked into what happens when people sign up with some of these timeshare exit companies.
People say some claim they can get you out of a timeshare but end up working a lot like the worst of the timeshare owners.
“I’ve enjoyed my timeshare,” Gale Wade said. “I don’t really have anything against it. It’s just I don’t use it hardly anymore.”
Wade initially responded to a postcard offering a free dinner and a promise to help her exit her timeshare. She paid over $12,000 to TS Compliance Group in 2023, expecting results that never materialized.
Timeshare owners Ron and Laura Music also say the company promised to help them exit their timeshare contracts, only to find themselves out thousands of dollars with no results.
The Musics paid $8,600 to TS Compliance Group.
“They said put it on a credit card with 0% interest for a year. So that’s what we did,” Ron Music explained regarding their payment to TS Compliance Group.
They had to take out a loan when the year ended, and nothing ever happened with their timeshare.
Brian Rogers started a consumer advocacy group to help people exit timeshares on their own for free.
“Every solution offered by a timeshare exit or cancellation company is a solution that an owner can do themselves for free or far less,” he said.
The company appears to be linked to other entities with similar names, some of which are being sued by the Ohio Attorney General.
Jason Gamel, president of the American Resort Development Association, advises timeshare owners to first contact their timeshare company for potential free or low-cost exit programs.
Other options include selling or evening giving it away.
Despite their efforts, Gale Wade and the Musics remain stuck with their timeshares.
“That’s the killer,” Wade said. “On top of it all, I still have this timeshare.”
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