I am the owner of Resorts Bailout
Your money is really being used to fund, bonuses, salaries at the resort, and compensate the resort where money is needed. You do not have to believe this, however I have many friends that work at the Resorts and this is the truth. Right now the resorts spend millions of dollars in gifting solicitations to gift potential buyers into the timeshares, since less people are buying they are having to be more aggressive and gift more people in, guess who has to compensate the resort for this loss in profit margins. Now the Resort is also losing a ton of money on people not buying timeshares anymore, guess who has to compensate the resort on the loss of income? Now lets focus on the actual owners in the industry, right now say out of the 70 percent of owners that want to get out of their timeshare, about 10 percent of those owners leave the industry, either because they use a bailout service or since they are foreclosed on because they no longer can pay the rising maintenance fees or cant afford their mortgages anymore because of financial difficulties.
I mean the best example of what is happening to timeshare owners I can come up with is what happened like 6 or so years ago. Wall street was getting hit very hard because of the recession, and a lot of the stock brokerage firms were going out of business, causing the United States to have to Bail all these companies out. Well right now the Resorts are using the timeshare owners as their bailout money.
And what aggravates me so much especially after reading these comments, is the lack of action by the timeshare resorts.The resorts are putting timeshare owners in a very tough situation. The resorts can really put these timeshare resale companies out of business with a snap of their fingers.They can tell all their owners to NOT PAY anyone to sell their timeshare, but they dont They might act like they are doing something, but they really aren't, the Owners are the ones actively trying to get the word out. Most timeshares actually tell people when owners call in looking for information to get out of their ownership, they will either say, you can keep paying maintenance fees or sell the timeshare. What the Resorts wont tell you but is really happening is the Resort want these listing companies in business. They bank on the fact that listing company's are out their and give timeshare owners, hope. They need owners to believe their timeshares will sell because if they dont, they 70 percent of owners that want to get out would call the Resorts every day to get out. They would call and constantly be asking, can you get me out, i dont want it anymore, etc etc. By owners paying a listing company, they believe their is a lil bit of hope that the timeshare can be sold, but it might take some time, so for the next couple years (3 years X 600= 1800 in maintenance fees) they put it off in hope a sale facilitates continuing to pay their fees. Now the Resort has an out, so the disgruntle owners who are unhappy, wont be calling the Resort anymore, but instead calling the listing companies to work harder and find them a sale. A friend of mine who works for a timeshare told me he knows the resort had a partnership with a resale company and was sending consumer information to them and got paid for leads. This is what the Resort does!
How can you blame an owner to want to get out and never look back! The resort will allow liers/ robbers to stay in business, however they will jump through hoops to make my company unable to help you. I have a take list, and a do not take list, I have timeshares I can work with and timeshares I cant work with. Resorts are constantly making new rules and regulations through the home owner association so present owners that want to get out, have a harder time to achieve that. The very reason why they are doing that is because they are doing everything in their power to protect what money they have coming in. This angers me to no end because with all the bad in the industry, we are an entity out their for timeshare owners to provide a solution, when a solution is needed. Not a place, where you speak to someone and they give a whole song and dance with no guaranteed solution. This company provides a guaranteed exit strategy if we are able to help you. If we are able to help you, you will be out of your timeshare, you will be done, no more phone calls, no more bills or statements, you will be out, you will be timeshare free.
Now everyone that reads this can take this and feel good about what we do, or you can still feel negatively, your feelings are that of your own and I will never tell anyone how they should feel about something. However at the end of the day realize the situation you are in, and understand why you are looking to get out. The resort has inflated the price of the timeshare, the day you bought it, the resort is not willing to help you besides either upgrading your package or to take in payment for your maintenance fees.
The next 10 years will be very hard for any owner in this industry, its only going to get worse, less units will sell, and your maintenance fees will go up. I do not see how this industry will sustain itself anymore, there are more owners than there are weeks, rci and II you can barley get a week in any more, there is barley any new owners buying into the industry, and the owners are being held responsible to compensate for missed profit margin. We are in a recession, the middle class in this country is practically gone, why should owners that dont want a timeshare be expected to fund a multi-million dollar corporation, they deserve to have a way out! In the next 10 years, how much is the average owner going to spend paying, for something they aren't able or cant use. Renting doesn't fix this problem, if you are not using it, renting might cover some of the maintenance cost, but you are still legally binded to the timeshare, so even though you cover for that one year, you are going to need to find another renter the following year, then the next year, etc etc, while this is happening your maintenance fees can still go up and your still responsible for them.
I always tell my agents before explaining to people how to get out, ask people if they are really prepared to get out of their unit, cause once we take it, its gone. Maybe this is an impulse driven decision maybe they just need help using the timeshare. Howver if after explaining this an owner still is adament that they want out, I will give an owner that way out. I always tell my agents if they have someone who still owes a mortgage, since we are unable to help them to explain, how to do proper seo work for their ebay ads, and to use websites like TUGs. This company always does its job to make sure that consumers have the facts and that they are pointed in the right direction.
I hope in the future, as the word gets out about how we conduct business with both strong ethics and determined to keep consumer satisfaction as a number one priority, people wont jump to conclusions when speaking about my company. Instead telling people what my agents already tell them.
Our bailout program should be used as a last resort, however at the end of the day, the program is still available.
-Stephen