Timeshare Exit Team
Timeshare Exit Team
Timeshare Exit Team is another timeshare exit company that aspires to provide its clients with distinguished customer service. Based out of Bellevue, WA, the company has over 30 offices in the US and Canada.
Timeshare Exit Team claims they can help you legally exit your timeshare contract. They are one of the oldest timeshare exit companies, so you may have heard a Timeshare Exit Team commercial on the radio, TV, or even online through Youtube or Facebook. The company has been in business since 2012 but also goes by a few other names like ‘Reed Hein & Associates’ and ‘321Exit.’
For the folks who feel like you might have heard of them but still aren’t quite sure, big names such as Dave Ramsey, Steve Harvey, Ben Shapiro, Herman Cain, and other famous radio and TV personnel put their reputation on the line by endorsing Timeshare Exit Team. There is no question about the company’s substantial marketing budget. But was this a smart decision? Endorsements by celebrities typically are heavily compensated, which can hurt the credibility of their endorsements.
If you are considering working with Timeshare Exit Team or any exit company, we highly suggest you contact our team immediately to see if this company suits your current situation. Our team believes there are a few things owners should be aware of before working with any timeshare exit company. Initiate a Live Chat or fill out the form on the right to protect yourself from potential timeshare scams.
As our team reviewed numerous Timeshare Exit Team reviews, we concluded they are primarily mixed. They’re just all over the place! This does make you wonder just how legitimate are they? Evaluating Timeshare Exit Team in further detail, we discovered some startling information. As our team reviewed the company’s website, we noticed they have a clean, simple, professional design. Scrolling down the homepage, we saw the company makes a bold statement.
There are no immediate sources linked that could verify this. And there are tons of Timeshare Exit Team complaints online with past clients saying the exact opposite. So who is telling the truth here?
Scrolling down the page, we came across a section where the company offers a free consultation. This is a positive sign because it demonstrates that the company is selective about its cases. An exit company must evaluate your situation first to determine your eligibility for their services. You should avoid anyone who tries charging you upfront without first specifying if they’re even qualified to help you cancel your timeshare.
Next, we clicked on the ‘About Us’ page where the company discusses their history, a message from the CEO Brandon Reed, locations, and their refund policy. Here owners can search for a “Timeshare Exit Team near me” and learn a little more about the company itself. Our team was also able to confirm here that the company offers a 100% money-back guarantee but does not offer an escrow payment option. Most of you may feel at ease with a 100% money-back guarantee. I mean, what sounds better than a guarantee you will receive a full refund? As alluring as this offer may be, unfortunately, if the company decides to file for bankruptcy, you’re out of luck!
Only a few exit companies can back up their 100% money-back guarantee, and they typically have secure financial assets to support this claim. Plus, once you pay an exit company up-front, they will not have that sense of urgency to cancel your timeshare anymore. If you haven’t read our article on how escrow may be vital for your situation, we suggest you head over and learn how escrow eliminates any up-front costs.
As our team reviewed timeshareexiteam, we found that the company does offer a payment plan for timeshare owners who cannot afford their services in full. They also do a great job by providing 3 tips you can try before hiring an exit company. We do agree with the Right of Rescission and determining if your timeshare has any resale value, but the third tip is contacting the Timeshare Exit Team. Nothing is mentioned about contacting your timeshare developer first to see if there are any deed buy-back options. In reality, they only say 2 helpful tips, not 3. Clicking on their ‘Exit Process’ page, nothing is mentioned about how they cancel your timeshare. All that is said is they will “keep you informed.”
As we made our way over to the FAQ page, we discovered an important statement from the company:
According to the statement made above by Timeshare Exit Team, we understand that they do not prioritize using an attorney. The company first attempts to transfer your timeshare back to the resort or a different owner. If the transfer fails, then Timeshare Exit Team will seek an attorney to help cancel your timeshare. Our team always says the most legitimate way to cancel your timeshare is with an attorney. Timeshare Exit Team’s process can lead to potential problems without initially involving a timeshare attorney and could cost you more money.
The company does well by providing a lot of beneficial knowledge and tips on their ‘Blog’ and ‘Faq’ pages. But they lack transparency, authentic testimonials, and it seems like they’re just relying on celebrity endorsements, which they are typically compensated for. If you are considering working with Timeshare Exit Team or any timeshare exit company, we highly suggest you reach out to us first by filling out the form on the right side of the page or initiating a Live Chat with us. We can help you determine if an exit company is legitimate and suitable for your timeshare situation.
Timeshare Exit Team Lawsuit
On Friday, August 14th, the King County Superior Court denied the State of Washington’s motion for a preliminary injunction with its lawsuit against Reed Hein & Associates (aka Timeshare Exit Team). The Court decided that the State presented evidence was not sufficient to back up the claims that support the injunction.
According to the complaint filed back in February 2020, Timeshare Exit Team was accused of many unfair or deceptive business practices. Reed Hein advertises a 100% Money-back Guarantee, but according to many consumers, the company was not holding its end of the bargain. Numerous Timeshare Exit Team complaints mention how owners battled to get their refunds and that the company failed to refund them for over many years.
Although this is a big win for Timeshare Exit Team, the lawsuit is still far from over. As of March 2021, the Better Business Bureau mentions how there is still a pending government action on this case since it has not been resolved yet. To learn more about the lawsuit filed by the Washington State Attorney General – Bob Ferguson, click here.
In 2017, Timeshare Exit Team was also in a lawsuit with Welk Resort Group. Here Welk Resort 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.”
According to the lawsuit, Timeshare Exit Team allegedly told Welk timeshare owners to stop paying their timeshare maintenance fees. This advice was given with a false guarantee that the timeshare owner’s credit score would not be affected by not paying their dues. Many timeshare owners and their credit were affected by this lawsuit. Read more about the Timeshare Exit Team Lawsuit
Timeshare Exit Team Cost
The first question most of us always ask is, “How much is this going to cost?” After speaking with a Timeshare Exit Team representative, they informed us the cost depends on your current timeshare situation.
However, our team came across a few different platforms where the company’s fees are mentioned. On latimes.com, Timeshare Exit Team publicly stated their average cost is about $4,000 paid up-front. However, according to a Past lawsuit filed by the Welk Resort, here it is mentioned the company would charge fees of $5,000 or more for their services. Our team also read past reviews on Yelp and the Better Business Bureau, where they would ask for prices that cost higher than $1,000.
We have concluded that their services’ price depends on your contract and whether you still have mortgage or maintenance fees. If you still owe a mortgage, this will drive your cost up compared to if you already paid your timeshare off. This is a standard practice in the timeshare industry. We recommend discussing final costs before you sign a contract with Timeshare Exit Team. As our team always says, if their services’ price varies, you can always negotiate for a better deal! It does not hurt to try and ask for a lower cost; this will only benefit you.
Timeshare Exit Team Ratings
Update as of March 2021. The Timeshare Exit Team BBB has a 4.23/5-star rating, but this doesn’t mean they are an accredited business. In fact, out of 670 reviews, they have had 396 Timeshare Exit Team complaints in the last 3 years, with 120 within the last 12 months. This is why the Better Business Bureau made an official “Pattern of Complaints” notice issued on November 28, 2018. The BBB states that many Timeshare Exit Team customers have complained the company has not honored the 100% Money-Back Guarantee. Here past clients mention how, for several years, they still have not received a refund.
Timeshare Exit Team ratings on Trustpilot dropped from a 4 to a 2.7-star rating out of 1,122 reviews. The company also has different Yelp ratings for each branch, where they all average a 2.5-star rating. Yelp customers complain here about false promises that were made to them by the company, as well as services they never delivered. Timeshare Exit Team receives a 3.5/5.0 on MyTER Rating. We understand that getting out of your timeshare contract is a big step in the right direction, but we do not want you to risk losing thousands of dollars by hiring the wrong company. Our mission is always to guide you towards the most ethical timeshare exit companies.
Here is a recent complaint made by a timeshare exit team customer on the BBB:
Timeshare Exit Team Dave Ramsey
Dave Ramsey Says Farewell to Timeshare Exit Team
For those of you who don’t know, Dave Ramsey is a financial guru and a well-known popular radio host. Known for his preachings of debt-free living, Mr. Ramsey has also had quite the influence on the timeshare industry.
Dave Ramsey has openly stated he hates timeshares. On his Dave Ramsey Show he states “timeshares are a financial nightmare, and if you’re looking to purchase a timeshare, you’re making a big mistake.” Our team would agree with this statement. But Dave took it a step further by openly endorsing one timeshare exit company in particular, Timeshare Exit Team. On YouTube, Dave says “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.”
Unfortunately, it doesn’t look like Dave took his own advice here. Endorsing Timeshare Exit Team has actually put Mr. Ramsey in a lot of controversy here. In February 2020, Timeshare Exit Team was the center of attention for the Washington State Attorney General – Bob Ferguson. According to the lawsuit filed against them, Timeshare Exit Team, aka Reed Hein & Associates, used deceptive business practices to help owners “exit” their timeshares. Timeshare Exit Team promotes a “100% Money-Back Guarantee”, but unfortunately many owners have struggled to receive a refund. Others to this day have still been denied of one! To learn more about this lawsuit, click here.
In 2017, Timeshare Exit Team was involved in another lawsuit with Welk Resorts Group. Welks sued the Exit Team 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.” According to the lawsuit, Timeshare Exit Team apparently told Welks timeshare owners to stop paying their timeshare maintenance fees. owners and their credit were affected by this lawsuit. To learn more, click here.
In an episode of the Dave Ramsey Show on May 20, 2021, Dave had a different perspective on the matter. Mr. Ramsey’s website promotes several financial services, companies, as well as individual professionals. To appear on his show, typically you just pay the advertising fee and you are apart of his website directory called SmartVestor Pros. Dave says the reason Timeshare Exit Team is no longer advertised, has to due with the costs from the multiple lawsuits they have received.
Dave Ramsey has declared war on the timeshare industry. Not only does he hate timeshares; he’s made it clear he want’s everyone else to hate them too. Dave states these companies are trying to run the exitters out of business. Mr. Ramsey says when he endorsed Timeshare Exit Team, he wanted to support the small start up company because they wanted to do the right thing. And he admits, with his endorsement the company has been able to help over 20,000 owners out of their timeshares. For that reason, Dave says these vacation giants made pact and put together a trust fund for one purpose. To run the competition out of business. And it doesn’t end with exit companies.
According to the episode we mentioned above, Dave says they’re going after attorneys who wish to defend the consumer as well! If you skip to 1:44:00 in the episode, Dave interviews an attorney who recently had to stop close his firm because he too was being sued. During their conversation Dave Ramsey says they’ve gone after him, and at this point they want to drain everyone with legal fees. What he states about Timeshare Exit Team “They’re not out of business yet, but they’re having to defend themselves against the attorney general of the state of Washington, they’re having to defend themselves against a massive set of lawsuits brought time and time and time again.”
Whichever side you believe, If you are considering working with Timeshare Exit Team or any exit company, we highly suggest you contact our team immediately to see if this company suits your current situation.
Timeshare Exit Team Steve Harvey
Steve Harvey is a reputable radio and TV host. Steve Harvey has openly endorsed Timeshare Exit Team, even though Steve Harvey is not 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, right? Unless that reason is a handsome compensation.
Whatever the case, our team still recommends working with timeshare exit companies that offer an escrow payment option, so you don’t pay a single penny up-front until your timeshare contract is cancelled. Why would you want to take the risk of paying thousands up-front if your timeshare is still not cancelled?
In conclusion, Timeshare Exit Team reviews are drastically mixed. Some owners say the company completed the services as promised, and others are complaining about they still have their timeshares and can’t get a refund or ahold of the company. Our team believes Timeshare Exit Team should prioritize helping the customers who have been waiting for years and are still stuck with their timeshare contract.
Still hesitant about what timeshare exit company to trust? We help timeshare owners find the best timeshare exit company for their situation. Contact our team so we can help you find and determine if a timeshare exit company is legitimate. We recommend working with exit companies that offer escrow, so you pay no up-front fees. Know your legal right so you can exit your timeshare contract legally. Read over our website and fill out the form on the right or contact us through Live Chat for a free informational consultation.
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