Quick Answer: Receiving a 1099-C form doesn’t automatically eliminate the underlying debt from credit reports, as the tax document only reports forgiven income rather than debt forgiveness. Consumers can dispute incorrect balances with credit bureaus, but may need a consumer attorney’s help if the creditor maintains the debt is still valid despite foreclosure or settlement.Question:Dear …
Quick Answer: Yes, lenders can legally charge processing fees for deed in lieu of foreclosure, and the $950 fee mentioned is reasonable compared to foreclosure costs. Getting a lender to accept a deed in lieu is challenging since they prefer cash over real estate, so the opportunity should be carefully considered despite the processing fee.Question:Dear …
Quick Answer: Timeshare owners stuck with unwanted properties have three main options: file bankruptcy to eliminate the debt, negotiate a buyout with the property manager, or continue paying fees. Many timeshare exit companies like Timeshare Exit Team and Pro Timeshare Resales have proven problematic for desperate owners.Question:Dear Steve,I bought a vacation property at Lake of …
Quick Answer: The FTC is mailing $2.7 million in refunds to 8,088 consumers who paid upfront fees to Pro Timeshare Resales, which falsely promised to sell their timeshares quickly. The average refund check is $332 and must be cashed within 60 days.The Federal Trade Commission is mailing 8,088 refund checks totaling nearly $2.7 million to …
Quick Answer: American Resource Management Group (ARMG) and its law firm filed bankruptcy after major timeshare companies like Bluegreen and Wyndham successfully challenged their exit services as fraudulent. The companies allegedly charged thousands in upfront fees while falsely promising contract releases, leading to customer defaults and lawsuits.American Resource Management Group (ARMG) and its affiliated companies …
Quick Answer: Timeshare Exit Team, recommended by Dave Ramsey, operates through virtual offices (Regus locations) rather than physical offices in multiple states as their website suggests. The company uses regional consultants who may not be direct employees, raising questions about their business structure and legitimacy.A great person I know asked me about a Dave Ramsey …
Quick Answer: David Brandon Ball of Charleston received 37 months in federal prison for running Mountain State Resales, LLC, which defrauded timeshare owners across the US and Canada by falsely claiming to have buyers and charging upfront fees. Ball also posed as recovery agents to scam previous fraud victims through a fake organization called “Internal …
Quick Answer: Wyndham Capital bankruptcy isn’t necessary for timeshare disputes involving deceptive sales practices like false mandatory upgrade claims. The consumer should file complaints with the Consumer Financial Protection Bureau and consult a local attorney experienced in consumer law before considering credit-damaging payment cessation.“Dear Steve,My wife and I purchased a time-share at Capital Cove thru …
Quick Answer: Timeshare resale scams involve fraudulent companies that charge upfront fees to sell timeshares but never deliver results. The FTC created an infographic to help consumers identify these scams and avoid losing money to fake resale services.The FTC gets clever and puts of a great infographic on timeshare resale scams.Know Your Rights: If a …
Quick Answer: The timeshare resale market is saturated with scams promising quick sales but demanding upfront fees, and legitimate sales typically recover only 40-60% of current value. Owners seeking to exit should consider donation options like DonateForACause.org to avoid ongoing maintenance fees. “Hello again Steve. I have another question. My husband and I own a …
Did this conversation help?
Thank you. I'm glad you reached out.
You took an important step today. Come back any time.
Think of this as me — just in AI form. I've walked in your shoes. I filed bankruptcy myself in 1990, and in over 30 years of experience I haven't seen a situation that can't be worked through or a person who deserves judgment. Everything here is built on that experience, that research, and genuine care for you. I can't be there in person. But I can be here.
Conversations are saved anonymously. Personal details are automatically removed before storage. This is an AI — not a financial advisor, attorney, or therapist.
Not sure where to start?
Been here before?
