Timeshare Exit Team Ratings
As of November 2022: The Timeshare Exit Team BBB page no longer exits due to their recent closure. To learn more, clickhere.
The Timeshare Exit Team BBB page lists them as “non-accredited” companies with a “C-” rating. They have over 670 reviews and 404 of those are all Timeshare Exit Team complaints.
It didn’t stop there, on November 28th, 2018, the Better Business Bureau released a statement that they’ve received a “pattern of complaints” from past clients. As we read through the BBB’s statement, we found numerous timeshare owners complained how the company refused to honor their “100% Money-Back Guarantee.” And no the waiting period wasn’t a couple of days, some of the owners even mention how they’ve been waiting for several years to get their money back!
So the Better Business Bureau didn’t say the greatest things about Timeshare Exit Team, but as our team checked out their Trustpilot page we noticed they dropped from a 4 to a 2.9/5-star rating. Yelp even lowered their score to a 2.5-star rating because of customers complaining about “false promises” that the company failed to fulfill. Sounds like Dave Ramsey needs to pack his bags and pull his endorsement because this ship is sinking!
Timeshare Exit Team Lawsuit
Timeshare Exit Team has been sued multiple times since its establishment in 2012. More recently, on Friday, August 14th, 2020, the King County Superior Court denied the State of Washington’s motion for a preliminary injunction with its lawsuit against Reed Hein & Associates, who is also known as Timeshare Exit Team and 321Exit.com. The Court decided that the evidence the State provided was not enough to support the injunction.
The complaint was filed back in February 2020. As our team dug deeper, we learned Timeshare Exit Team was accused of many unfair or deceptive business practices. According to many consumers, the company was not holding its end of the bargain of its “100% Money-Back Guarantee.” Now many of their past clients are angry because the company has failed to refund them for several years.
Yes, this might be a major win for Timeshare Exit Team, however, the lawsuit is still far from over. To learn more about the lawsuit filed by the Washington State Attorney General – Bob Ferguson, click here.
In 2017, Timeshare Exit Team was involved in two more lawsuits: one with Welk Resort Group and the other with Holiday Inn Vacations Club. The Welk Resort Group sued the company for allegedly: “Operating a nationwide racketeering scheme to induce vacation owners to disrupt Welk’s contractual relationships with its vacation owners; thus causing a breach of contracts, delinquencies, and defaults that damaged Welk, the vacation owner association, and vacation owners.” As our team looked into the lawsuit, Timeshare Exit Team presumably told Welk timeshare owners to stop paying their timeshare maintenance fees.
Unfortunately, they said this with a false guarantee that thetimeshare owner’s credit score would not be affected. Thus leading to many timeshare owners jeopardizing their credit scores. To learn more, click here
The Holiday Inn Vacations Club sued Timeshare Exit Company for “interfering with customer contracts and misleading owners about its ability to get them out of timeshares.” This lawsuit was rather interesting because, on the eve of the trial, both companies agreed to settle without adjudicating any of the legal issues that remained. To learn more, click here
Timeshare Exit Team Dave Ramsey
As many of you may already know, Dave Ramsey is a financial guru and an extremely well-known radio host. Dave Ramsey has made it very clear on his “Dave Ramsey Show” that if there’s one exit company he trusts, it’s Timeshare Exit Team and only them.
Dave Ramsey said on YouTube “At first I was reluctant to partner with a company involved in the timeshare exit space. You have to be very careful about who you partner with. Trust me.” Dave Ramsey seems like he’s willing to put his reputation on the line for this company.
Currently, they are the prime focus for the Washington State Attorney General – Bob Ferguson. Endorsing a company with such a history in lawsuits could make things ugly for Dave Ramsey. We hope he truly knows everything about them and how they operate and isn’t just endorsing them for attractive compensation. If you decide to hire Timeshare Exit Team, we highly suggest you contact our team first.
Timeshare Exit Team Steve Harvey
Steve Harvey is another big-name radio and tv celebrity. Steve Harvey has openly endorsed Timeshare Exit Team, even though he may not be the most active in the financial industry. He has a tremendous voice when it comes to expressing what is right and wrong.
If a famous individual like Steve Harvey endorses Timeshare Exit Team, he must have a good reason. Our team still recommends working with timeshare exit companies that offer escrow, so you don’t pay a single penny up-front to the company until your timeshare contract is canceled. Why would you want to take the risk of paying thousands up-front, and your timeshare is still not canceled?
Is Timeshare Exit Team Trustworthy?
There is no information available on the cost of the Timeshare Exit Team’s services. They don’t provide an option for escrow payments. Timeshare owners are advised by the BBB and FTC to steer clear of businesses that demand upfront payments.
So, should you believe a business that demands hundreds of dollars upfront from its customers for a service they are unable to guarantee? Our recommendation is to seek out a timeshare exit business that provides an escrow payment choice. You can terminate your timeshare this way without having to make any upfront payments.
Additionally, Timeshare Exit Team has previously been a defendant in a number of court cases. In many instances, they didn’t live up to their half of the contract, which cost their clients money. Do you really want to put your money in the hands of a business whose past performance implies they might not fulfill their promises?
The negative appears to outweigh the good so far. We advise you to avoid Timeshare Exit Team and look for a reliable timeshare exit firm instead. We advise choosing an established business with a sterling reputation when it comes to your money. The good news is that there are many businesses with a strong track record of success!
What If You Stop Your Payments?
Many people make the mistake of stopping their payments thinking that they are canceling their timeshare contract. Unfortunately, this is not accurate. When you stop making payments to your timeshare company, they will continue to charge you maintenance fees and taxes every month until you formally cancel your contract.
Deeded timeshares cannot be canceled through a STOP PAYMENT request to the bank because the resort has title to the property. This is why so many people end up paying thousands of dollars in legal fees to try and get their timeshare cancelled! Avoid this headache by doing your research and finding a reputable timeshare exit company!
What If Pay a Lawyer?
If you decide to hire a lawyer to help you cancel your timeshare, they may recommend that you write a letter to the timeshare resort explaining why you are canceling the contract. This can be tricky because there is a good chance that the resort will ignore your letter or retaliate against you in some other way. It’s important to keep in mind that lawyers often charge hundreds or even thousands of dollars to help clients cancel their contracts!
Hiring a lawyer may seem like the easy way out, but it can actually be expensive and time-consuming. Do you really want to spend hundreds of dollars on a when you can do it the right way by using a timeshare exit company? For most people, the answer is “no.”
Instead of hiring a lawyer to help you cancel your timeshare, we recommend working with a company that is familiar with the laws in your state and has years of experience helping people just like you get rid of their timeshares.