Agent

How not to get rid of a time share

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

DEAR READERS: I frequently receive questions about how to get rid of a time share. I must admit that my response thus far has been less than satisfactory. I once suggested that the time share be donated to a church or a synagogue, but several priests wrote and asked that I stop making that recommendation, because the religious groups don't want the expense or the headaches of ownership. Other readers asked if they could just walk away, and while I reluctantly indicated that was a possibility, I warned that the time-share management could file suit to collect the moneys that were due. This obviously would impact credit ratings. Many readers advised me they had been taken advantage of by a scammer who promised (for as much as $5,000 upfront) to quickly sell the time share. As you all can guess, the scammer pocketed the money and did absolutely nothing. Fortunately, some of the state attorneys general -- Florida, for instance -- are investigating and prosecuting some of these ...