COSTA MESA, Calif., Feb. 1, 2021 /PRNewswire/ — TimeShare Legal Consultants (TLC) announced it had discounted its services to help individuals navigate the current economic crisis sparked by both the pandemic and a looming global economic depression. TLC offers cancellation services for timeshare owners who either can no longer afford to maintain their timeshare contracts or those who entered into an unfortunate contract with a predatory timeshare company. TLC has perfected a streamlined three-step process that helps timeshare owners dissolve these contracts relatively quickly, while disclosing the retainer costs upfront and also protecting clients’ credit score throughout the process. TLC offers a proven way to help timeshare owners begin to rebuild their financial lives and is the only timeshare cancellation service currently offering this discount during the pandemic.
“This is a hard time for folks due to the pandemic, with so many people who have lost their jobs and main source of income,” said TLC representative, Kimm King. “And unfortunately, in this hard new reality, some luxuries like timeshares just have to be cut from the budget. We understand that. We also realize that some timeshare contracts were dubious to begin with, and people are still struggling to be free of them. But ignoring the problem will not help, and defaulting on a timeshare leads to foreclosure, carrying significant financial consequences like major damage to a client’s credit. These consequences can endure for many years.”
The Timeshare Problem: A Prolonged Economic Burden
Although timeshares are a convenient way for multiple people to co-own a prime piece of vacation or residential real estate, those same timeshares can also become a financial burden. The American Resort Development Association (ARDA) estimates that more than 10 million people in the U.S. own some sort of timeshare product, with timeshare interval ownership averaging around $22,942 per timeshare.
Timeshares also come with regular maintenance fees which are due whether or not an owner uses the property, and these costs can easily reach hundreds if not thousands of dollars annually. For many older retired people who do not use their timeshares regularly, routine costs for unused properties are extremely onerous. Compounding the problem is an absolutely flushed timeshare market, making the resell of timeshares a more than difficult endeavor. Resold timeshares are considered “used,” forcing owners to list at 10% or less of the original purchase prices, ensuring it is virtually impossible to sell the timeshares for the price originally paid, never mind for a profit. Maintenance fees, bad resell values, and a new wave of predatory timeshare practices all contribute to a looming financial disaster for a significant number of Americans.
The Timeshare Solution: Three Steps to Freedom
The only answer for most people locked into an unwanted timeshare contract is legal dissolution. This is a specialized piece of legal work that requires expertise from lawyers who understand the specific laws involved, the market, the sellers, and each client’s individual situation. TLC has a trained team of legal experts who have streamlined the process down to three easy steps:
- The Initial Meeting: Solving the problem first starts with understanding the specifics of the situation. Every timeshare contract is slightly different. TLC experts will work to understand the history of a client’s timeshare contract, navigate through its specifics, and provide an exact quote of the service fee required to help clients dissolve the contract.
- The Plan: A second meeting is scheduled to discuss the length of time the dissolution will take, while also providing the client a detailed exit plan. Exact times can vary somewhat, dependent on whether clients owe a mortgage, but without a mortgage, the entire process usually takes between four and six months.
- The Solution: Once the dissolution is complete, the client receives a Mutual Release and Termination of Vacation Ownership Agreement. This notarized legal document verifies that the deed and any related obligations related to the timeshare resort have been dissolved. The problem is solved.
For more information on dissolving timeshares, contact TLC online.
About International TimeShare Legal Consultants
The International TimeShare Legal Consultants is a diverse team of legal experts that protects small businesses and single clients from a wide variety of legal issues, while also offering sound business and personal legal advice. With years of experience, the team at Walter Grace is committed to advocating for the goals of its clients and becoming a trusted consultant on what is best to secure those goals. Representing and working with real estate professionals, lawyers, doctors, small business owners, corporate executives, and others all across the financial and labor spectrum, Walter Grace has expert advisors to meet any legal need. Learn more at: http://timesharelegalconsultants.com/index.html.
Kimm King, The Walter Grace Agency