Timeshare resale outfit shut down by FTC

A timeshare resale outfit that claimed it had ready buyers in the waiting has been shut down by the Federal Trade Commission.

National Solutions was the primary name used by an organization that had multiple marketing names but only one modus operandi:  They would send you a “sales agreement” saying they’ve arranged for the sale of your timeshare. You had to return a transmittal fee of just over $3,000 with the agreement, with the money supposedly being refunded to you upon closing.

You know the punch line here: There never were any buyers. The sales agreements were just a big con job. All National Solutions and its entities was doing, with person after person, was stealing $3,000 from people who desperately wanted to unload the financial obligation of a timeshare.

The timeshare market right now is basically destroyed. Most of the players who were building, buying or managing timeshares have exited the business. The smaller ones have gone bust. The industry is broken to a point that I don’t know if there will ever be a true repair.

If you have timeshare and you enjoy using it, then you’re fine, just keep using it as you always have. But if you have one you don’t want, it will stick to you like glue; there is no easy path to get rid of a timeshare. Even if you’re trying to give it away, you won’t really find anyone to take it for free. So remember that any pitches you hear from someone promising to be your hero is suspect.

So if you are in one, try to enjoy it. And if timeshares are something you’ve also wanted to enjoy but never had the chance, there’s never been a better time for you to get one. Somebody may actually pay you to have the privilege of using their timeshare.