Timeshares are a long-term financial commitment. Sometimes your ability to foot the bill may change. That’s a situation William Jenkins knows all too well.
“I’m used to making two, three thousand dollars a week driving a truck,” Jenkins said.
But he had to give up that career following a devastating MS diagnosis. He thought getting out of his timeshare in Florida would be a good way to save money. So when a timeshare exit company based out of New Hampshire, Granite Consulting, contacted Jenkins out of the blue, he decided to listen.
According to Jenkins, they offered to get him out of the timeshare for a fee of just under three thousand dollars. He felt comfortable signing the contract and paying the money because of a line in the contract which stated, “If a customer does not obtain a lease exit within eighteen months timeframe we shall return the total fee amount to the customer in full.”
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Jenkins said the company took his payment and seemingly closed shop. He kept trying to call the company but its phone numbers no longer worked.
The New Hampshire Department of Justice told NBC10 Responds it has received ten consumer complaints about the company, and it is “actively investigating”. It said anyone who’s had a problem with Granite Consulting should file a complaint with their office.
Have a consumer complaint? Call 215-201-5310
The Licensed Timeshare Retail Broker Association told NBC10 Responds its standard industry practice not to charge a client until the timeshare property has been sold. It also warned against anyone who calls you unprompted, saying they can get you out of your timeshare.
“None of us brokers are calling people cold, calling people to find clients,” Jessica O’Daniel, the president of the association, said. “They have bought your name off a list and they are just going to go down until someone pays them money.”
Strategies for Getting out of Your Timeshare:
O’Daniel also shared these strategies that may help you get out of a timeshare on your own:
- Call the resort and ask if you can give back time timeshare. There may be a small fee associated with this option.
- See if you can rent the timeshare to someone else.
- Offer to deed the timeshare over to a family member.
- And remember, if you want to resell your timeshare, expect it to sell for 50% to 90% less than what you paid.