Timeshare Exit Team

Timeshare Exit Team

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Type	Private
Founder	Brandon Reed
Headquarters	Kirkland United States
Area served	United States
Website	www.timeshareexitteam.com

Timeshare Exit Team is a United States company that aims to help people out of their unwanted timeshares.

History

Timeshare Exit Team was founded by businessman Brandon Reed in 2012. Reed says he founded the company after experiencing trouble getting out of his own timeshare, saying that “the sole reason this company exists” is “providing real exits to families across the country, many of whom feel like they were tricked into buying their timeshare and now can’t afford it or can no longer use it.” Timeshare Exit Team has claimed to be “the industry leader in helping people exit their unwanted timeshares.” As of 2019, Timeshare Exit Team says they have exited more than 20,000 customers out of their timeshares. In 2020, the company negotiated a settlement with Holiday Inn Club Vacations pursuant to which the developer agrees to exit over 1,000 timeshare owners.

Process

According to Timeshare Exit Team's website, the timeshare owner provides information about their timeshare during the initial consultation, and the consultant will explain the Timeshare Exit Team exit process and answer any questions. The company says that the cost to get out of a timeshare depends on each individual situation, based on factors like the number of timeshare contracts being exited and whether the timeshare has been paid in full or has an outstanding mortgage. Similarly, the exit timeline depends on the complexity of the situation and can range from 9 months to 3 years.

Coalition to Reform Timeshare

Coalition to Reform Timeshare is in independent non-profit corporation that was founded by Reed in 2019. The organization, which is independent from Timeshare Exit Team, advocates for comprehensive reform of the industry through a proposed Timeshare Bill of Rights that the group says would give consumers more protection and require timeshare sales people to be fully transparent about what they are selling and the related financial liability. The Timeshare Bill of Rights calls for an end to high-pressure sales tactics, as well as the right to a 24-hour cooling-off period before any contracts need to be signed. It would give consumers the right to record sales presentations, the right to learn the total cost of any timeshare transaction and the right to cancel any contract up to a week after they return from vacation. It has encouraged timeshare owners to tell their difficult stories about trying to get out of their timeshares, with the goal of leading to timeshare industry reform.

Endorsements

American radio host Dave Ramsey has endorsed Timeshare Exit Team and advocated for the company on his show. He has boasted the company’s “large network of experts across the country,” and promised that Timeshare Exit Team can help those dealing with hardships related to COVID-19.

COVID-19 Advocacy

In an open letter published in April 2020, Timeshare Exit Team proposed collaborating with ARDA (American Resort Development Association), which is the trade association and lobbying group of the timeshare industry. The letter asked ARDA to:

• Not charge timeshare owners for maintenance fees for one year (especially if they can’t safely use their timeshare property)
• Provide responsible exits for all who face hardship
• “Establish a mortgage forgiveness program”
• Allow no-cost transfer of paid-in-full timeshares back to resorts
• TET also said in the proposal, “in return, and in good faith, we will work for you; no attorneys, no third parties”

Timeshare Exit Team followed up days later with a letter to the ARDA – Resort Owners Coalition, “urging cooperation” due to the hardships faced by timeshare owners.

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