Want out of your timeshare? What to consider before hiring an exit company

CHARLOTTE — Ron and Laura Music weren’t even looking to get out of their timeshares. That’s right: More than one.

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“The one I love, it’s in Cocoa Beach, and the other one you can go anywhere from January to December,” she said.

But then someone called out of the blue.

“Well, I hadn’t heard of T.S. Compliance, just from the phone calls (was) the first time I’d ever heard of them,” Ron said.

He says the group scared them into thinking they wouldn’t want the timeshares long term and offered to help.

“All total it was $8,693,” he said.

The Musics say they signed papers, showing TS Compliance Group promised to get them out of their timeshares within 12 months or refund their fees.

But around the time that year was up, Ron says, “I just gave up after that. I was resigned to the fact that we had lost about $9,000.”

“It’s very embarrassing, but there’s, you know, a lot of things we can do with the family and grandkids for that money,” Ron said.

The Musics say they still have their timeshares and plan to enjoy them.

“Paying the maintenance fees is not that big a loss, but the $9,000 to TS Compliance [Group] is a bitter pill to swallow.”

The Musics aren’t alone.

Another consumer, Gale Wade, says she paid an exit company $12,356, but that it didn’t help.

“I don’t think I’ll ever see that money,” she said.

The Federal Trade Commission has posted various warnings about timeshare exit companies and even took legal action against some, like a case a few years ago in which the FTC claimed the business cheated consumers out of a combined $90 million.

Brian Rogers runs the Timeshare Users Group, which has about 26,000 members on Facebook. It’s a forum for discussing timeshares and companies promising to help you break up with them.

“You can run this scam for 6-8 months and collect hundreds of thousands of dollars before anyone catches on,” he said. “Many of them are fly by night and all it takes is a cellphone and client list, which can be purchased.”

Even ARDA, the trade association for the timeshare industry, urges caution before hiring someone to help you out of your timeshare.

“You do not need to pay a third-party company to get out of your timeshare contract,” ARDA’s Jason Gamel said.

One of Channel 9’s sister stations called 11 phone numbers associated with TS Compliance Group and sent several emails, but no one responded in time for this report.

Action 9 attorney Jason Stoogenke says if you want out of your timeshare:

First, the obvious: Ask the company to let you off the hook. Just know: You may get out of the relationship but not get money back.

Second, you can always see if someone will take it off your hands. But you may take a hit.

Third, the extreme option: you can simply stop paying. Some say you may end up in financial or legal trouble. Others say you won’t. So Stoogenke says you may want to talk to a lawyer before going dark.

VIDEO: Woman says she signed lease, paid rent, then learned it was a scam