SmorgasBoard

[techgirl]

I have a timeshare and haven't been able to use it...  I would like to hear how people got out of their timeshare and what their experiences have been?  Were you able to settle out of it? Did you sell it? Did you go through foreclosure?

[birjest]

I own a timeshare as well.  I too would like to know.  For me, I rather off load the monthly payment of $407, and put that to something else.  I was told the I have equity in my timeshare, and I would love to get rid of it.

[techgirl]

Yup, me too. It is a waste.... Well, through my reading of the search "timeshare" I think I am going to take the plunge and stop paying and then put the money I would have paid them into a savings account and then settle with them in cash with a Pay for delete or something..... that way I at least stop the bleeding.... We aren't going to be getting a loan anytime soon and I don't want to be swindled by companies who "might" be able to buy it or sell it, etc.  I just wanted to know my punishment for doing so...

[drkaje]

Aren't there ways to sell timeshares that don't involve hits to your credit?

[Repo-ed]

Just a quick google.

I've heard nothing but negative things about Timeshares.  I remember almost taking the bait at a big property in Orlando many years ago.  I mean -- I WAS REALLY close to signing.  Can't recall how I mananged to get out of the office.  I think they had already handed me my free tickets to blizzard beach.

[thankfulheart]

I used to own some Disney "timeshare" points that I sold at The Timeshare Store.  They didn't check my credit and were very easy to work with.  I would try that route before doing something that could damage credit.

[techgirl]

I am selling timeshare! The timeshare is located at the Grandview at Las Vegas. You can trade it with RCI and travel the world! I own one bedroom, for one week a year in August. I am willing to sell it for $7,000.00. Honestly though, I don't think it is worth it.... Check out SellMyTimeshareNow.com to see the boat I am in :-(

Note to Moderators: I'm not actually trying to sell anything on this website - just making a point.

[FrugalRican]

Timeshares are pretty much the biggest waste of money on this planet. That and the hassle to actually use it... makes me wonder why anyone thinks these are a good idea.

My father used to have one and was paying about $12,000 a year for that just to use one for 2 weeks. Are you kidding me? You could vacation for two weeks with far less than that.

He was actually able to sell his portion to someone else who wanted "more time" with the timeshare, so it worked out for him. He sold his portion at $10,000. He considered it a loss. I consider it a gain of $10,000. Forget it, not worth the time, the hassle, the money.

All I ever hear are horror stories concerning these.

Even my dad has his fair share of them. Confused dates. Payments not processing. Limited availability. Utilities not working properly.

I'd rather stay at a hotel/villa or other options for a full week or two over that.

[techgirl]

He was very lucky.... I hear that having a timeshare and wanting to get rid of it sets up for to be scammed a second time....

[FrugalRican]

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techgirl wrote:

He was very lucky.... I hear that having a timeshare and wanting to get rid of it sets up for to be scammed a second time....

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VERY lucky. He actually didn't understand HOW lucky until he no longer had to make the payments.

Good luck to you though.