Keep Your Credit Score: Get Rid of Your Timeshare

It can be so frustrating to own something that you can no longer afford or no longer wish to pay for. It can also be a challenge figuring out how to get rid of it while ensuring you remain in good financial standing. Many timeshare owners feel this way about their vacation ownership properties.

Don’t let your timeshare become a burden. There are a number of ways you can get rid of your timeshare while keeping your credit score and personal finances in check.

How to Get Rid of Timeshare Without Ruining Credit

One thing that is very important to remember when considering maintaining a good credit score is to continue making regular payments on your maintenance fees while going through the process to get rid of your timeshare. Failure to pay these fees can do a number on your credit score and make future purchases more difficult.

Also, when looking for a way to get rid of your timeshare, be aware of timeshare resale scams. There are numerous companies out there that will take your personal information and financial info and never help you with your timeshare. This can do a number on your credit score, but it can also leave you in debt and without a solution for your unwanted timeshare.

Give Back Your Timeshare

In certain instances, if you are trying to get rid of your timeshare, the resort will be willing to take back or buy back your timeshare. No matter your situation, it is a smart idea to contact your timeshare resort first to see if this is an option for you.

The most popular resorts and resort brands are often interested in getting your timeshare property to sell to another owner if there is a lot of demand. This definitely does not apply to every timeshare ownership, but it is absolutely worth looking into.

Donate or Gift Your Timeshare

Donating your timeshare to charity is simple, free, and can have tax benefits. If your timeshare qualifies, the donation is 100% guaranteed. This can be a great way to get rid of your timeshare if you are not looking for any cash in return.

Another option is gifting your timeshare to a family member or friend who may get more use out of it than you. Once you decide who you want to give your timeshare to (and they accept!), simply contact your resort and get the deed updated with the new owner’s name.

Sell Your Timeshare on the Resale Market

Another great option to safely and effectively get rid of your timeshare is to sell it. Selling your timeshare allows you to make some money back on your unwanted timeshare.

The experts at SellMyTimeshareNow.com can aid you in determining a resale market value for your timeshare, create a custom advertisement, and market it to a global audience of interested buyers.

Additionally, while you’re waiting for your timeshare to sell, you can rent out your timeshare for money back to help keep up with your maintenance fee payments.