Timeshare Exit Team
Timeshare Exit Team Review
Timeshare Exit Team is a timeshare exit company that has offices in various cities and Canada. You probably heard about Timeshare Exit Team on the radio, TV and all over the internet. The company also goes by the name Reed Hein & Associates, and 321Exit, fairly catchy phrase for a timeshare exit company. If you were not aware, Timeshare Exit Team is endorsed by Dave Ramsey, Ben Shapiro, Herman Cain, and other famous radio and TV personnel. These famous endorsements claim that Timeshare Exit Team has helped them get rid of their timeshare contract permanently. Endorsements by famous individuals are usually heavily compensated, so you can’t rely much on these statements. We can’t deny the substantial marketing budget that Timeshare Exit Team has for all these advertisements.
321 Exit or Timeshare Exit Team does not offer an up-front escrow payment option, but they do offer a 100% money-back guarantee. A 100% money-back guarantee can give you the peace of mind when working with a timeshare exit company. If you haven’t read our article on how escrow may be vital for your situation, we suggest you head over and read how escrow eliminates any up-front costs. After digging through the website, we found that Timeshare Exit Team does offer a payment plan for timeshare owners who can not pay for their services in full. Having a company that offers a payment plan really shows how much the company values its customers, Timeshare Exit Team gets a +1 from our team at MyTER.
As we mentioned before, using attorneys is the most legitimate way to get out of your contract. 321Exit states:
“Timeshare Exit Team by Reed Hein & Associates is not a law firm, and Timeshare Exit Team does not provide legal advice or representation. There is no attorney-client relationship between you and Reed Hein. Timeshare Exit Team will assess your opportunities for an exit without the need for using an attorney, and should it be necessary to hire an attorney on your behalf, Timeshare Exit Team will help guide the strategy of the attorney on your behalf, as outlined in our contract with you and the Power of Attorney you provide to us in connection therewith”.
From this statement by Timeshare Exit Team, we understand that using an attorney is not their priority. Timeshare Exit Team first tries to transfer your timeshare to a different owner or back to the resort. If transferring ownership of your timeshare fails, then Timeshare Exit Team will use the help of an attorney to cancel your contract. In this case, the company will typically look for misrepresentations in your contract and the misrepresentations you faced during the presentation. When speaking to Timeshare Exit Team, we suggest you carefully read the contract to make sure they will provide an attorney if transferring ownership fails. Scams are abundant in the timeshare industry, get a copy of the “10 must-ask questions when shopping for a timeshare exit company” when you fill out a free personalized consultation form on the right.
Timeshare Exit Team has a ‘FAQ’ page where they answer numerous amount of questions timeshare owner may have. Many timeshare owners are not aware that they might have signed a perpetuity contract; in other words, a lifetime contract. If a timeshare owner passes away, the timeshare obligations will fall upon their heirs. Having a timeshare obligation fall to someone who did not want the timeshare from the start is not right. Timeshares can be a significant financial obligation that not everyone can afford. Here is a statement made by Timeshare Exit Team regarding heirs inheriting a timeshare:
We do inform you that Timeshare Exit Team was being sued by Welk Resort Group for allegedly “operating a nationwide racketeering scheme to induce vacation owners to disrupt Welk’s contractual relationships with its vacation owners, causing 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 the non-payment. Many timeshare owners and their credit was affected by this lawsuit. Read more about the Timeshare Exit Team Lawsuit.
Timeshare Exit Team takes about 9-18 months to cancel your timeshare and their process is similar to many timeshare exit companies. Here is an image taken directly from Timeshare Exit Team explaining their exit process:
Timeshare Exit Team Cost & Fees
Timeshare Exit Team has also publicly stated on latimes.com that their average cost is about $4,000 paid up-front. Reading past reviews, we have concluded that the fees depend on your contract and if you have a mortgage. If your timeshare has a mortgage, then Timeshare Exit Team will charge you a higher fee compared to if your timeshare was paid off. This is a fairly common practice in the timeshare industry. If you speak to Timeshare Exit Team, we recommend you request a lower price from their original quote. A company will always want your business, and they will do everything to keep you as a customer, and it never hurts, it only can benefit you. If the price 321Exit has stated in the latimes.com article is correct, then the price point is average compared to other timeshare exit companies. There have been cases when Timeshare Exit Team charges a processing cost. This cost gets thrown at timeshare owners during their exit process, and many owners end up paying the cost because they just want to get rid of their timeshare contract. We do recommend discussing final costs before you sign with Timeshare Exit Team.
Timeshare Exit Team Ratings
Timeshare Exit Team has a 4-star rating on the Better Business Bureau (BBB) website, but they are not a BBB accredited company. This may be a warning flag for some timeshare owners because they do not have a rating directly from the BBB, but the company has been in business for seven years. Another warning flag was a “Pattern of Complaints” that was issued on November 28, 2018, by the Better Business Bureau because many clients of Timeshare Exit Team have complained the company has not honored the 100% money-back guarantee or canceled their timeshare contract. Timeshare Exit Team has received a 4-star rating on Trustpilot, which puts into question if these reviews were incentivized by their clients compared to the Better Business Bureau reviews. Timeshare Exit Team also has over one hundred 2.5 star ratings on Yelp. Yelp customers are complaining about their services never performed as advertised and false promises. 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, and our mission is always to guide you towards the most ethical timeshare exit companies. After reading through numerous reviews, Timeshare Exit Team has quite a few reviews about services not being completed or the 100% money-back guarantee being honored. If you are paying thousands of dollars to get out of your timeshare contract, a company should complete the services as promised.
Here is a recent complaint made by a timeshare exit team customer on the BBB:
Timeshare Exit Team has mixed reviews. Some owners are saying the company completed the services as promised and others are complaining about nothing proceeding with their case. Our team believes Timeshare Exit Team should make a priority to help the customers that have been waiting over the 18-month time frame and still are 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.
Read over our website and fill out the form on the right or contact us through Live Chat for a free personalized consultation. Our team recommends working with trustworthy timeshare exit companies that offer an escrow option, so you pay $0 up-front until your timeshare contract is canceled. There are hundreds of timeshare scams every year, protect yourself from becoming another victim.