Has anyone used American Consumer Credit to get out of Timeshare?

We have a Welks timeshare that we purchased 9/29/16. Huge mistake.

We reached out to American Consumer Credit, and was contacted by an agent. He said they would be able to get us out in 4-6 months. They have up to 12 months to get us out of contact or they will refund our $$.

They are asking for $1100 upfront and reminder $1100 in payments for the next 6 months.

I just really need out of the contact with Welks. I can't afford to pay this.

NEVER pay anyone money upfront that claims they can get you out of your contract !! Contact the resort yourself and ask them if they will take it back. You need to be current in all your fees and assessments. Don't fall for these pay upfront companies. They string you along until the time has expired for you to dispute the charges on your credit card and do nothing for you. They close up shop and open under a new name after they get too many complaints.

auriannap wrote:

We have a Welks timeshare that we purchased 9/29/16.

They are asking for $1100 upfront and reminder $1100 in payments for the next 6 months.

I just really need out of the contact with Welks. I can't afford to pay this.

It looks like you have past your rescission period already so...How much have you paid on your mortgage already and how much do you still owe?

You might be able talk with the resort or its Homeowners' Association (HOA) and see if you can negotiate some sort of a deed back, but you would lose the money you already paid into the mortgage.

And as Don P said, do not pay anyone an upfront fee that claims it can "cancel" your timeshare.

I still owe on the mortgage, about 18k.

I haven't had any hoa fee yet because I've had it for less than a month.

I already tried calling them, demanding to speak with someone woreking in the title department. I asked about any deed back programs, since I've already paid 2k, that's 10% of the loan, I even said I'd be willing to pay next year's hoa.

The woman said no, they don't have any program like that.

What about the timeshare exit company? It's endorsed by Dave Ramsey. The few people I've spoke to at this company say they've actually used the timeshare company to help get them or someone they know out. (I know they could be lying of course).

I know they too ask for $ upfront.

I don't know what else to do.

auriannap wrote:

What about the timeshare exit company? It's endorsed by Dave Ramsey. The few people I've spoke to at this company say they've actually used the timeshare company to help get them or someone they know out. (I know they could be lying of course).

I know they too ask for $ upfront.

I don't know what else to do.

Maybe you're thinking about Timeshare Exit Team, not Company. Yeah, they get some clients out of their timeshares after they pay thousands of dollars.

In your situation, you might contact the resort's HOA and mention quite firmly that you will not be paying another penny in mortgage so it would be in the resort's best interests for them to take your unit back. Maybe even offer to pay closing costs and the next maintenance fee. That will be a lot less than what Timeshare Exit Team will charge you.

NEVER pay anyone money upfront that promises to get you out of your contract especially one that you " heard about " on the internet. Scammers are everywhere trolling for victims.

I have used redweek several times with successful vacations. However, just recently I was involved in fraud. The owner gave me a reservation number which showed she was in fact the owner. However, her husband called to ask for additional money for a sanitation fee. I became suspicious and told him I would like to cancel the agreement as agreed by our contact. Although he was frantically calling and texting me for the additional funds he and his wife are no longer returning my calls or emails.

I am not sure how to proceed. My checked was cashed and I have a fingerprint so I may contact the police. Unfortunately, they live on the east coast and I live on the west coast.

Please do not rent from SABINA CASE.

auriannap wrote:

What about the timeshare exit company? It's endorsed by Dave Ramsey. The few people I've spoke to at this company say they've actually used the timeshare company to help get them or someone they know out. (I know they could be lying of course).

I know they too ask for $ upfront.

I don't know what else to do.

Dave Ramsey, despite his respected knowledge and wisdom in many areas concerning money and finances, actually knows little or nothing about timeshares and / or timeshare contracts. It might be helpful to remember that he is PAID to make such endorsements, whether or not he actually knows anything whatsoever about the product or service.

Timeshare Exit Team (the correct name) advertises on the radio in numerous major metropolitan areas throughout the U.S. Heavy radio advertising (which is not cheap) certainly indicates that they mange to drum up lots of business that way, but advertising reveals absolutely NOTHING about their actual success. There is really no way to know if they can or will do ANYTHING meaningful for you; it's an expensive crap shoot. Do you truly believe that they will return your money a year from now if / when they don't succeed?

The blunt bottom line is this --- you voluntarily CHOSE to enter into a lawful, legally binding contract and then subsequently failed to exercise the cancellation rights provided to you by state law, even though notice of those rescission (cancellation) rights was provided to you, in writing, right at the time and place of your contract execution, as is required by law. It's now much too late to rescind and you are a willing, voluntary party to a legally binding contract, belated buyer's remorse notwithstanding.

No one can somehow magically extricate you from a lawful, legally binding contract that you voluntarily CHOSE to sign --- regardless of what you pay them. You could consider just defaulting, paying nothing further. If you choose to make that decision, you will obviously lose your entire deposit and you will also likely sustain a negative "hit" to your credit report. On the other hand, you will at least stop sending more money right down the drain. If you owe $18k on your purchase, then defaulting is certainly an option to at least seriously consider, as your purchase is likely not worth even a fraction of that amount owed.

The late Will Rogers once famously said "If you find yourself in a hole, stop digging". Wise words --- and something for you to seriously consider.

Well said Ken. Most people can negotiate their own exit from their home resort if they put in enough effort and convince the resort that it's in their best interest to take it back. I did that with two timeshares in 2011.

I was recovering from major surgery on my spine and I was facing open heart surgery down the road. I called the resorts and made sure I got the right person that handles the titles. I explained to them that I was going to get rid of the timeshares with or without their assistance and that if they didn't cooperate then they won't be happy with the outcome. I was going to get them out of my name and that was my final decision .

They both agreed to take them back through " deed backs " . I was current with my fees and assessments . It was quick and I only had to pay a minimal amount for filing the paperwork. After the transactions were completed and I had copies of the recorded papers I sent each person that helped me gift cards for being so nice .

I calmly stated my case to them and I was firm that this was going to be my priority until they were out of my name. I had some strategies that I was going to use to dispose of them that I won't get into right now but none of them included using a service that takes money upfront . You can do it yourself if you are determined. If you are not the type of person who can argue a case them enlist the help of a friend or family member to help you out. Trust me you can do it if you put your mind to it.

NEVER pay anyone money upfront that claims they can get you out of your contract .

Thank you both.

Donp, what were your strategies? I would like your guidance through this process.

Thank you

Contact them yourself. Make a few phone calls until you get the person who handles these cases. You have to be your own advocate and state to them that you are going to get the timeshare out of your name with or without their help.

Let them know that it is in their best interest to work with you. They will save legal expenses and the loss of fees for maybe years if they don't cooperate. Be firm and see if they will work with you. If they refuse then there are a few ways that they will not be happy with the results. If they take each case on a one to one basis then make sure you tell them that you will follow through if they refuse.

The problem is that most people look for someone else to do their work for them. Pick up the phone and call. The phone is not that heavy . Stop looking for someone else to do you work for you.

DonP, would you share your letter you initially sent to them?

I never sent a letter. I made phone calls and made sure I got a hold of the person that handles those transactions. Letters and emails are too easy to ignore. I made it my priority to get rid of them and I did . Do your own negotiating and make your case . Let them know that it is in their best interest to work with you . It's win win for everyone involved .

auriannap wrote:

What about the timeshare exit company? It's endorsed by Dave Ramsey. The few people I've spoke to at this company say they've actually used the timeshare company to help get them or someone they know out. (I know they could be lying of course).

I know they too ask for $ upfront.

I don't know what else to do.

Please don't shoot the messenger, but let's acknowledge the fact is that there is a very high likelihood that the loan note is actually held by a third party lender, NOT by the resort. *IF* that is the case, the resort (and / or its' HOA) has no legal standing whatsoever to accept a "deedback" on something with a $18K outstanding loan balance attached to it. For that very same reason, none of those useless upfront fee "exit / rescue / escape / relief" entities can possibly help you either. Either the $18k loan balance gets satisfied, or you make the difficult and painful decision to simply default on the loan, pay nothing further --- and accept the negative credit report hit consequences. The facts and the answers have not changed in any way since you first raised this same issue nearly a year ago now.

In any event, DO NOT pay ANY entity a single penny upfront. Repeat after me --- NO ONE possesses any magic beans or secret elixirs to get you out of a legally binding contractual loan debt obligation that you once freely and voluntarily signed up for. NO ONE!

P.S. Let's be clear on something else --- Dave Ramsey gets PAID to endorse Timeshare Exit Team, which cannot possibly do ANYTHING for you with a $18K outstanding loan debt balance apparently still attached to the timeshare purchase. Neither can anyone else, including "American Consumer Credit" or ANY other "escape artist" company you can name. I am sorry to have to point out that unwelcome (but nonetheless entirely truthful) fact.

yes, i am on the same boat, got a timeshare with welk,TERRIBLE, TERRIBLE MISTAKE, DON'T use this useless American Consumer. i been dealing with them for over a year and they had done ABSOLUTLY NOTHING to help me to get out!!! i paid them $2200 i will ask for my money back.

sylviaa77 wrote:

DON'T use this useless American Consumer. i been dealing with them for over a year and they had done ABSOLUTLY NOTHING to help me to get out!!! i paid them $2200 i will ask for my money back.

Good luck with that request for a refund --- but don't hold your breath while waiting for it.

These assorted upfront fee "escape / relief / exit / rescue" outfits NEVER voluntarily refund ANYONE'S money, bogus "guarantees" notwithstanding. Their answer to a refund request will most likely be "Hold on, be patient --- you're almost out". This is actually true --- not because they have actually done anything useful or productive for you, but simply because foreclosure is looming if you haven't been paying your fees. You would be in the exact same status now without ever having paid those parasites a dime, but when foreclosure inevitably occurs, their position will likely be "See? You're out --- just as we promised. Have a nice day!"

Just a fraud and Scam organization! They will promise the world to you about getting rid of your timeshare... be sure to read the fine print! They will do absolutely NOTHING for you and will make every attempt to keep your money. I have complied and did EVERYTHING they asked to get my money back and I am STILL waiting. They are such scammers that I will go to Orlando, FL and personally file a lawsuit. Thankfully, I am well resourced that I can do this as I am retired and I have ALL of the time in the world!

lamontr4 wrote:

Just a fraud and Scam organization! They will promise the world to you about getting rid of your timeshare... be sure to read the fine print! They will do absolutely NOTHING for you and will make every attempt to keep your money. I have complied and did EVERYTHING they asked to get my money back and I am STILL waiting. They are such scammers that I will go to Orlando, FL and personally file a lawsuit. Thankfully, I am well resourced that I can do this as I am retired and I have ALL of the time in the world!

No surprise or revelations here. NO ONE has any magic "escape" beans and these weasels have NO intentions of returning your (or anyone else's) money. It would very likely cost you more money to pursue legal action than you paid to those parasites in the first place.

You may have all the TIME in the world, but legal representation in civil litigation is also very costly in terms of MONEY. Be prepared to have to "dig deep" to pursue the justice you seek. If you decide to travel down that long and costly road anyhow, I certainly wish you luck.

DonP I need to know what you did but didn't print. can you contact me? Thanks