Although a timeshare often promises a regular dream vacation, reality looks a lot different for many timeshare owners. Instead of getting to relax and unwind in a popular vacation spot at least once a year, they find themselves watching their bank account empty due to timeshare fees.
Owning a timeshare can feel like a trap and many owners want out. Many timeshare cancellation companies, like Sapphire Timeshare Cancellation, promise to get them out. But is it too good to be true? Take a closer look at how Sapphire Timeshare Cancellation works to see if it’s worth the time and money.
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Table of Contents
What is Sapphire Timeshare Cancellation?
Sapphire Timeshare Cancellation claims to be a family-owned company. It’s based in “the timeshare capital of the world,” Orlando, Florida. The company claims to have more than two decades of combined timeshare experience.
Otherwise, it’s pretty vague about who’s behind it or how things work. The website offers up a bio of an attorney, Raymond J. Lucas, and states that Lucas represents it.
Lucas has been practicing for more than 25 years in Florida, after earning his law degree from Nova Southeastern University in 1995. He was admitted to the Florida Bar in 1996.
In his early years as an attorney, Lucas focused on managing commercial properties, such as gas stations and multi-family apartment complexes. He also taught others the basics of investing in real estate.
As the principal attorney for the Lucas Law Firm, he mainly takes on transactional and litigation cases. A specialty of the firm is foreclosure defense, using loan modifications to help people avoid losing their homes. Other areas of practice include family law, criminal law, estate planning and personal injury.
Sapphire Timeshare Cancellation is quick to point out that Lucas and his law firm represent the timeshare cancellation company, not Sapphire’s individual clients.
Sapphire Timeshare Cancellation makes a few other claims that seem to set it apart from its competitors. It says it is licensed, insured and bonded and that it’s one of the only timeshare exit companies in the U.S. to be that.
Being licensed, bonded and insured might sound impressive but it is really the bare minimum of what a company should be. Being “bonded” means that a company has some protection if a customer files a complaint against it.
The bond will pay the complaint to the customer, not the company. Having insurance means that another third party, in this case, an insurance company, will cover the cost of damages.
When a company says it’s licensed, it can really mean anything. In this case, since there isn’t a “timeshare exit company license,” it could simply mean that the company has a business license to operate in Florida.
Sapphire Timeshare Cancellation also says it offers a credit protection program, to keep the credit scores of its clients from tanking during the exit process. It contacts the three credit reporting agencies on behalf of its clients. The company doesn’t give much detail into what it does to keep people’s credit safe.
How Sapphire Timeshare Cancellation Works
Timeshare cancellation can take several forms. Some companies offer to sell a person’s timeshare or rent it out. The hope is that the owner will make enough through the sale to walk away from the timeshare without regret.
Other companies work to transfer the title of a person’s timeshare. Still, others help people cancel their timeshares by highlighting the deceptive practices a timeshare company used in the recruitment process.
Sapphire Timeshare Cancellation says it doesn’t transfer, sell, rent or buy timeshares. Instead, it relies on consumer protection laws and regulations to help timeshare owners break free. A look at the company’s “Proof of Performance” page reveals that it occasionally helps people get out of their timeshares using a deed in lieu of foreclosure.
Deed in lieu of foreclosure means that the timeshare owner has given the resort or developer the deed to the property. Handing over the deed means that the owner no longer has a legal right to the timeshare. It also means that they no longer have any responsibility for it.
Since Sapphire Timeshare Cancellation stresses that it uses consumer protection laws to help clients get free of their timeshares, it’s likely that the company will ask clients about their experience during the sign-up and purchase process.
Timeshare companies are notorious for pressuring people into buying. They also often promote timeshares as valuable real estate investments when they are anything but. Buying a timeshare isn’t the same as buying a piece of property.
One way to see the difference between buying a legit vacation home and a timeshare is to look at the resale market. Real estate is one asset that tends to appreciate in value. A person buys a house one year and can sell it for a profit five years later.
The opposite is true of a timeshare. A person might buy a timeshare one year then struggle to sell it for a dollar on eBay a few years later.
Timeshare presentations often gloss over or omit this fact. They also often omit the detail that a timeshare owner has a right of recission within a few days of purchase. An owner can change their mind within three days, thanks to the Cooling Off Rule.
Sapphire Timeshare Cancellation seems to work with owners to help them identify any deceptive practices, then take the appropriate actions.
All in all, the company claims to do the following:
- Cancel maintenance fees
- Cancel payments
- Cancel mortgage balances
- Stop harassment
Sapphire Timeshare Cancellation Pricing
How much will it cost a person to work with Sapphire Timeshare Cancellation? It all depends. The company, to its credit, is upfront about that fact. While it doesn’t provide a range of fees, it does claim to offer “strategic and fair pricing.”
It bases its fees on the individual timeshare owner’s situation, not on how much a person might owe on their timeshare mortgage. It also claims to charge a single flat fee and to have a money-back guarantee.
One thing it doesn’t seem to offer is an escrow option. When a timeshare owner needs to get out of their timeshare, they often want some reassurance that the company they work with will really help them.
Escrow provides that reassurance. With escrow, a client’s payment gets deposited into a third-party account. The timeshare cancellation company doesn’t have access to the payment until they deliver on their promises: Cancelling a timeshare.
Escrow can be more reassuring than a money-back guarantee for a few reasons. If the timeshare company goes out of business before it helps a client, the customer can get their money back easily. Since the exit company isn’t in charge of the deposited payment, it’s easier for a dissatisfied client to argue for it back.
To qualify for the money-back guarantee offered by Sapphire Timeshare Cancellation, a client needs to meet certain conditions. The company promises to assist customers in the cancelation of a timeshare deed or contract and to protect the customer’s credit, if necessary.
It promises to give a full refund if it doesn’t succeed in doing that. But there are conditions to the refund. First, the company has a full 12 months to cancel the client’s timeshare contract. If it doesn’t succeed in those first 12 months, it can renew the agreement with the client without notifying the client.
The client does have the right to refuse the extension, though. To do that, they need to send a written objection, via certified mail, no later than 30 days before the end of the first 12-month period.
So it’s up to clients of Sapphire Timeshare Cancellation to remain on their toes and alert throughout the contract period, to make sure they get what they need from the company and that they qualify for a refund if needed.
Sapphire Timeshare Cancellation Qualifications: Who does Sapphire Timeshare Cancellation Work With?
Sapphire Timeshare Cancellation doesn’t seem to be picky about the clients it works with. The company works with timeshare owners who own a timeshare at pretty much any resort. Although it’s based in the U.S., it will work with international timeshare owners.
It also works with people who have a mortgage on their timeshare. There’s no time limit, either. The company will partner with clients who bought their timeshare decades ago as well as those who bought theirs more recently.
Online Reviews
Sometimes, the best way to assess how well a timeshare cancellation company does and whether it’s a scam or not is to check out reviews from previous clients. Sapphire Timeshare Cancellation seems pretty confident in the quality of its reviews and the satisfaction of its past clients.
The company says it will happily direct leads and potential clients to past clients to get testimonials. It also boasts of its positive reviews on sites like Google and Yelp. So how does the company really fare in the eyes of online reviewers?
Better Business Bureau Rating of Sapphire Timeshare Cancellation
Sapphire does pretty well at the Better Business Bureau (BBB). The company has an average rating of 4.78 stars out of five stars. The BBB has also given it an A+ rating.
The BBB’s rating and reviews should be looked at separately, as they mean different things. When assigning a rating to a business, the BBB doesn’t use reviews. Instead, it looks at the company’s track record of complaints, its age and its business practices.
As of 2021, there are zero customer complaints against Sapphire on the BBB. That means that no one has written to complain about being cheated or scammed by the company. The company also hasn’t had a chance to respond to complaints.
What the timeshare exit company does have is nearly 50 glowing reviews on the website. Many of the reviews state that the company was able to help them cancel their timeshare.
Some are much more detailed than others. Some detail the process used by Sapphire, how long it took and how much they paid. Many of the reviews come from happy customers who just got released from their timeshare commitment.
Other Online Review Sites
Sapphire has largely positive reviews on other sites, too. Its average rating on Google is 4.8 stars out of five stars. Many Google reviewers claim to be happy because the company successfully released them from their timeshare contracts.
Of the 40 reviews on Google, there are just two one-star reviews, as of August 2021. One of the one-star reviewers complains that they canceled their contract and didn’t get a refund. But the terms make it clear that there won’t be a refund unless the company doesn’t succeed by the end of the agreement.
The one-star review on Google is a good reminder of the importance of reading the terms and conditions carefully before agreeing to work with a company.
Reviews of the company are positive on Facebook, with eight people leaving five-star reviews. Mostly, the happy clients praise the company for getting them out of their timeshare quickly.
The one black sheep of the review sites seems to be Yelp. Sapphire has one two-star review on the site. The reviewer’s main issue seems to be the fact that the company canceled their timeshare but took nearly a full year to let them know.
Review Summary
Sapphire Timeshare Cancellation seems to have a good reputation online, with only a handful of negative reviews. Along with the reviews posted on third-party sites, the company also shares client testimonials on its own site.
Accompanying some of the testimonials are letters and legal documents demonstrating that the company was able to cancel timeshares for satisfied clients.
Sapphire Timeshare Cancellation Lawsuits
Lawsuits are pretty common in the timeshare exit world, as developers and resorts occasionally sue the companies that claim to help consumers. In some cases, dissatisfied consumers and consumer agencies sue timeshare exit companies for false advertising or misleading claims.
As of August 2021, there don’t seem to be any lawsuits filed against Sapphire Timeshare Cancellation.
Who is a Good Fit for Sapphire Timeshare Cancellation?
Sapphire Timeshare Cancellation doesn’t provide many details about the type of clients it works with, except to say that it helps timeshare owners. It looks as though a person can have a timeshare from pretty much any resort or developer. The company also works with people who have mortgages on their timeshare.
In fact, those with mortgages might be the ideal match for Sapphire, as the company offers a credit protection program.
When working with the company, the process typically looks something like this:
- The client signs up and pays the fee.
- The company sends demands to developers and reports discrepancies on the client’s credit file (if there are any).
- The resort has time to respond, during which Sapphire continues to build a case in favor of the client.
- The issue is resolved and the client is released from their timeshare.
Pros and Cons of Sapphire Timeshare Cancellation
When considering any company to work with it’s important to weigh pros and cons. That’s especially the case when work with a timeshare exit or cancellation company, as your credit could be hurt or you could end up paying a lot for nothing if things don’t work out.
Let’s take a look at the pros and cons of Sapphire Timeshare Cancellation.
The Good
- Has a Good Track Record
- Charges a Flat Fee
- Offers Personal Credit Protection
Has a Good Track Record
Based on the online reviews of the company and the proof of performance posted on its website, Sapphire Timeshare Cancellation seems to have a good reputation and track record.
The people who have left positive reviews of it have noted that it worked quickly to cancel their timeshares and that a representative from the company was in constant contact throughout the process.
Charges a Flat Fee
One of the many drawbacks of a timeshare is that the fees charged by the timeshare company seem to creep upward regularly. Sapphire takes pride in charging its clients a flat fee. The fee is paid upfront, which isn’t ideal, but at least clients can rest assured that they won’t have to pay ever-increasing fees.
Offers Personal Credit Protection
Sapphire doesn’t provide many details about how credit protection works on its website, but it can potentially be a valuable service to clients who are concerned about the impact their timeshare will have on their credit score.
The Bad
- No Escrow Option
- Can Be Vague About Certain Things
No Escrow Option
Sapphire offers a money-back guarantee, but only if certain conditions are met, such as the contract expiring and not being renewed before the company releases the client from a timeshare.
An escrow option would help put client’s minds at ease that the company will only benefit and get paid if it does what it set out to do.
Can Be Vague About Certain Things
One feature many timeshare exit companies have in common is that they tend to be vague about their process or how things work. They often use language like “everyone’s situation is different” to get around giving a specific price range or explaining what they do.
Sapphire is also vague about its ownership and background. The company claims to be family-owned but doesn’t provide much detail about who the family is or why they started the company.
Final Verdict: Is Sapphire Timeshare Cancellation a Legit Timeshare Exit Firm?
Sapphire Timeshare Cancellation seems to be a legit timeshare exit firm. The company has been highly rated by the BBB and has scores of positive reviews across the internet.
As with any timeshare exit company, though, it’s a good idea to proceed with caution before paying Sapphire or agreeing to work with it. The company offers a free consultation, during which a potential client can learn more about the process and if it’s right for them.
Many timeshare exit companies charge clients for services that the client could do on their own for free. Before signing a contract with Sapphire, it’s a good idea for potential clients to learn as much as they can about their timeshare exit options, including the actions they can take on their own without hiring a company or harming their credit.
Frequently Asked Questions
Who owns Sapphire Timeshare Cancellation?
Sapphire Timeshare Cancellation is a family-owned company but the firm doesn’t reveal details about its owner’s identity on its website.
Where is Sapphire Timeshare Cancellation located?
The company’s headquarters are in Orlando, Florida.
How is Sapphire Timeshare Cancellation rated online?
Sapphire has a great online reputation. It has averages of nearly five stars on Google, BBB, and Facebook. The company also has an A+ rating from the BBB.
Is Sapphire Timeshare Cancellation a scam?
Sapphire Timeshare Cancellation doesn’t appear to be a scam company. It looks as though the business does what it can to help clients cancel their timeshares.