GLENDALE, AZ (3TV/CBS 5) -- When it comes to vacations, Alana Favella and her husband Steve have been to a lot of places. "We've been to Europe. We've been on a couple of cruises. We've been pretty much everywhere in Mexico," Alana told 3 On Your Side.
And on one of their vacations, the couple was approached by salesmen and persuaded into buying a timeshare. "This one was points-based. So, we could go anywhere in the world. It sounded like a good deal," Alana said.
Alana and Steve used the timeshare for vacations several years, but they recently realized they wanted out of their timeshare contract. The reason? Annual maintenance fees and other costs skyrocketed, and it just wasn't affordable anymore, particularly when you can get on a search engine and find a bargain vacation somewhere.
"You can get a deal just about anywhere these days," she said. "So, you really don't need a timeshare?" 3 On Your Side's Gary Harper asked. "No!" she replied.
So, they looked around and found a company that promised to get them out of their timeshare contract. "What is the name of the company you hired," Harper asked. "Timeshare Termination Team," she replied.
Timeshare Termination Team can be found on the internet, where big promises are made. So, Alana and Steve paid Timeshare Termination Team several payments totaling $2,995 to get them out of that contract. But once they paid it in full, they never heard from the company again.
"Haven't heard from the company since," Alana said. "We've called. We've emailed. We tried to go back to their website, but their website is gone."
3 On Your Side got involved and experienced the same problem, and although Timeshare Termination Team is headquartered in Colorado, we noticed they listed an address in Tempe. So, I went there only to find out the company disappeared.
"Yeah, they used to be here but they moved in 2019," the receptionist said.
3 On Your Side then discovered Timeshare Termination Team was recently sued in federal court. Following that lawsuit, the company then went out of business, according to the Better Business Bureau. That is not good news for Alana and Steve, who says losing $2,995 hurts.
"Well, I think in this day and age that's a lot of money to anybody, and we're no different than anyone else."
But there's good news. 3 On Your Side told the couple to dispute the $2,995 charge with their credit card. That was the only hope of getting some, if not all, their money back. And it worked because their credit card company returned all $2,995 back to Alana and Steve.