If you’re a timeshare owner considering canceling your timeshare agreement, you have searched a range of exit companies to help you exit. One such company is Fastest Exit, a timeshare exit company established in 2019 in Scottsdale, Arizona.
But is it reliable? Should you trust them? Let’s read this article to get complete information and make a better decision.
Overview of the Company
Fastest Exit was a timeshare exit firm incorporated in April 2019. The company offered timeshare cancellation services to owners who wanted to exit. As of now, the company is no longer active.
However, the primary focus of the company was to assist timeshare owners in canceling their contracts. It positioned itself as an efficient and affordable solution to hiring a lawyer.
In addition to contract cancellation services, the firm ran a student scholarship program and offered relief to owners by terminating costly maintenance fees and other timeshare obligations.
Is Fastest Exit a Legitimate Company?
There are a few indicators that raise questions about a company’s legitimacy.
Out of Business: Fastest Exit once offered timeshare cancellation services but is no longer an active business. The Better Business Bureau (BBB) declared that it is “out of business.” The company’s website mentions that the business operations will officially shut down on May 15, 2024.
No BBB Accreditation & Rating: Fastest Exit was not accredited by the BBB, which is a sign of credibility. Currently, it is not rated because it is closed.
Lack of Independent Reviews: The Fastest Exit has limited online reviews on trusted third-party platforms like Trustpilot or BBB.
Upfront Payment: The company charged clients upfront fees. This is a major red flag in the timeshare exit industry. Reliable companies always offer escrow payment options.
Given these concerns, it’s clear that the company did not meet the standards of a trustworthy timeshare exit company.
When considering a timeshare exit company, legitimacy is a crucial factor. It is everything.
Do you want to hand over your thousands of dollars to the wrong company?
What if you pay upfront and later discover that the company was a scam?
Can you protect yourself from paying huge upfront fees?
The answer is yes; there is a way to protect your money. Wondering How? Contact Timeshare Cancellation Companies to connect you with trusted third-party exit companies that use escrow.
Pros and Cons of Fastest Exit
Here are a few pros and cons of Fastest Exit that you need to know
| Pros | Cons |
| Contract Cancellation: The Fastest Exit was dedicated to helping owners exit from their unwanted contracts. They closely worked with clients, developed strategies, and provided relief from maintenance fees and other timeshare obligations. | Out of Business: Fastest Exit is no longer offering services. The business is officially closed in May 2024. It raises concerns about the company’s long-term stability. |
| Affordable Solution for Lawyers: The company claims to offer more efficient and affordable solutions for hiring lawyers or attorneys for cancellations. It helped many owners who were concerned about high legal fees. | Not BBB-Accredited: The firm was not accredited by the Better Business Bureau (BBB) and currently has no BBB rating, as it is no longer in operation. |
| Scholarship Programs: Fastest Exit launched initiatives like a student scholarship program, which aimed to increase awareness about timeshare exit challenges. | No Escrow: One of the most significant concerns was that Fastest Exit charged upfront fees instead of an escrow option, which is considered a safer practice. |
Services Offered By Fastest Exit
The core services offered by Fastest Exit included:
Timeshare Contract Cancellation: Fastest Exit helped many owners legally terminate their timeshare contracts. They positioned themselves as an alternative and affordable solution to lengthy legal processes. The offered methods are faster and more efficient than hiring an attorney or lawyer.
Free Consultation and Case Review: The company offered free consultations to assess the client’s situation. Based on each case, they determined the best approach to exit a timeshare contract. This service was aimed to identify whether the contract could qualify for cancellation under their process.
Relief from Timeshare Obligations: The firm not only helped cancel the contract but also ensured the termination of ongoing responsibilities such as annual maintenance fees, special assessments, and other obligations tied to the ownership.
Fastest Exit Services Costs
Like many exit firms, Fastest Exit did not disclose its pricing structure. However, customer reviews on BBB revealed that many customers were charged between $17,000 and $46,000 for services.
Note: In the future, if the company becomes active, keep in mind that it has historically had hefty upfront fees instead of escrow. Many of their past clients paid well above the average timeshare cancellation costs, so proceed with extreme caution.
Fastest Exit Reviews
Here is a summary of customer feedback and information gathered from the available online sources.
| Company Name | Fastest Exit |
| Headquarter | Scottsdale, Arizona |
| Years in Business | 5 |
| BBB-Accreditation | Not Accredited |
| BBB Rating | Not rated due to business closure |
| BBB Complaints | 62 |
| Pricing Info | Not Available |
| Pricing Model | Not Disclosed |
| Money-Back Guarantee | No |
On BBB, it holds an average rating of 3.1 out of 5 stars. While a few clients shared positive experiences, praising the company for helpful customer service and successful cancellations.
On the other hand, a significant number of negative reviews describe delays, poor communication, additional payments, and large upfront fees.
Fastest Exit Lawsuits and Complaints
There is no record of lawsuits filed against the Fastest Exit. No formal legal action has been taken against them. However, several complaints are listed on the BBB.
Many of these complaints concern high upfront fees or issues with refunds. Many reported a lack of communication and were charged additional payments. Some mentioned that the company had filed for bankruptcy, leaving them unsure if they would ever recover their money.
Success Rate & Timeline
Based on reviews, the firm was able to cancel timeshares within 90 to 120 days, while many mention waiting for months or longer. Unfortunately, several clients reported that they were unable to resolve their cases despite paying substantial upfront fees. Overall, the success rate appears inconsistent, with few clients satisfied and others complaining of incomplete services.
Essential Factors to Look For Before Hiring a Timeshare Exit Firm
When hiring an exit firm, always verify a few key points to avoid scams and financial loss.
- Start by researching the firm’s reputation and success record.
- Check verified customer reviews on BBB, Google, or Trustpilot platforms.
- Walk away from companies that ask for large upfront fees; instead, prioritize those companies offering escrow payment option
- Verify that the firm is transparent about its processes, timelines, and pricing.
- Also, check if the company has legal support or works with attorneys (if your case is complex)
- Finally, confirm if the company is BBB accredited or holds a good rating.
Important: Reliable exit firms never pressure you to act quickly. If they do, they are likely part of scams.
Conclusion
Canceling a timeshare contract is a significant decision, and only the right exit company can assist you. In the case of Fastest Exit, the company is no longer active, and its history of charging upfront raises concerns about financial security in escrow. Because of this, we would not recommend it to anyone.
How do you find a reliable exit firm?
How can you save yourself from paying thousands of dollars upfront?
Don’t worry; Timeshare Cancellation Companies can protect you. We’ll connect you directly with a trusted third-party exit company that uses escrow.
So, don’t lose a single dollar – contact us today!
FAQs
Q1: Can I cancel my timeshare contract without paying upfront?
Yes, you can cancel your contract without paying upfront but only if you choose the right exit company. Many companies ask for upfront but consider companies that use escrow.
Q2: Is Fastest Exit BBB accredited?
No, Fastest Exit was not BBB accredited and is not rated due to business closure.
Q3: What is escrow, and why does it matter?
Escrow is a secure payment method in the timeshare exit industry. Instead of paying upfront, escrow holds your money with a third-party company until cancellation is successful.
Q4: How long does it take to cancel a timeshare?
The timeline varies depending on the complexity of each case, the type of ownership, the resort, and the exit company’s process. Some can take a few months, while others may take longer.
Q5: How much do timeshare exit companies usually charge?
The cost of each timeshare exit company can vary. The average fees range from $3,000 to $10,000 or more.
