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If you get stuck, Ramsey advises looking into any right-to-cancel laws that may apply and considering a timeshare exit company if you can’t sell the timeshare yourself. 4. Credit Cards
In his teachings, Ramsey has described the timeshare industry as "scummy". [36] In April 2023 listeners of his show filed a $150 million dollar lawsuit against Ramsey alleging he received $30 million to promote a timeshare exit company who engaged in deceptive practices. [37] [38]
More recently, though unrelated to his religion, Ramsey is facing a class action lawsuit over endorsements for a timeshare exit company alleged of defrauding customers.
The biggest red flag of a timeshare exit scam is having to pay an upfront free. Other red flags include: Unsolicited offers, sometimes purporting to come from legitimate timeshare companies.
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However, most charities are unable to take on deeded ownership of a timeshare, so they opt to sell the timeshare. If a charity sells the timeshare and keeps the proceeds as a donation, the donor is then entitled to a tax deduction. [4] Timeshare properties worth more than $5,000 need a written appraisal in conformity with IRS standards ...
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