You have a timeshare. You want to get rid of it. That’s understandable: many people buy timeshares at high-pressure sales events on the basis of inadequate and sometimes false information. The fees are high, they increase annually, and the contracts are for life. If you’re looking for a way out, you may come across Centerstone Group, Inc, a timeshare exit firm.
Will Centerstone actually get you out of your timeshare contract? That’s an important question. Timeshare scams don’t just happen in the timeshare sales industry. There are legitimate timeshare exit companies, but there are also many who will take your money and run, or leave you with a foreclosure and damaged credit. It’s important to assess any company you’re considering.
Is Centerstone Group one of the legitimate options? Let’s find out.
Table of Contents
Who Is Centerstone Group and What Do They Do?
Centerstone Group is a relatively new Company. Their Better Business Bureau (BBB) page states that Centerstone opened in February 2020. It is a Limited Liability Corporation (LLC) registered in Nevada in February 2021. Centerstone’s office is in Costa Mesa, CA.
Centerstone’s website describes the Company as “family-owned and operated”, and registration papers identify Mark Weaver as President and Director and Mika Weaver as Secretary and Treasurer. A profile on the website states that Mr. Weaver has “20 years of experience in the timeshare industry and 6 years of experience in the timeshare relief industry”.
How They Work
Centerstone Group states upfront that they cannot help everyone who wants to exit a timeshare contract. The first entry on their FAQ page states:
Cancelling a timeshare may be possible if you were a victim of fraud, high-pressure sales tactics, or misrepresentation during the timeshare sales process. You may also qualify if your timeshare mortgage is paid off and your timeshare is eligible for our transfer services. We will need to analyze your case to determine eligibility.
Source: Centerstone Group
This is a positive sign. A timeshare exit company that will accept anyone with a timeshare is usually after a fee, not a successful resolution. Centerstone offers a free consultation, where a representative will determine whether they can help you or not.
Centerstone uses a “three-pronged” timeshare exit process.
- Timeshare transfer. Centerstone states that transfer may be best for owners who have paid off their timeshares and are current with maintenance fees. It is not clear how this transfer will take place or to whom the timeshare will be transferred.
- Pressure campaign. A pressure campaign involves negotiation with the resort owner and simultaneous media outreach, posting of reviews, and complaints to regulators. If a client is making enough public noise and stirring up trouble, the resort owner may elect to release them from their contract.
- Attorney exit. Centerstone only recommends legal action if a pressure campaign fails. For a legal approcah to succeed you will have to demonstrate that you were pressured to buy your timeshare or that the resort provided flase or deceptive information during the sales process.
Many timeshare exit companies use only one of these three methods, and it’s unusual to see all three in a single package. This is a solid advantage for Centerstone.
Timeshare Exit and Your Credit
One of the most persistent issues involving timeshare exit companies is whether clients should continue making payments on mortgages or maintenance fees. Many exit companies advise clients to stop paying. This can encourage a resort to cancel a contract, but it can also lead to charge-offs or foreclosure, which can seriously damage the client’s credit.
Centerstone Group makes this statement on their website:
Many Centerstone Group clients elect to stop paying the timeshare company or homeowners association while their exit is being facilitated. In those cases, Centerstone Group provides clients a best in class credit monitoring and repair service to protect clients’ credit.
Source: Centerstone Group
It is not clear whether Centerstone recommends that clients cease payments, or whether that decision is left to the client.
Centerstone states that “The vast majority of our clients see no impact to their credit and if there is an impact, we will work with you to make sure that your credit is protected and repaired if anything transpires.” This is reassuring, but the truth is that no credit repair service can guarantee that late payments, charge-offs, or foreclosure will not appear on your credit report or harm your credit.
Many timeshare exit companies consider foreclosure to be a successful resolution. A foreclosure will release you from a timeshare contract, but it can also do serious damage to credit. Centerstone explicitly states that “thinking you have successfully exited your timeshare because you let it go into foreclosure” is not considered a satisfactory resolution.
Timeshare Exit Costs
Centerstone Group does not disclose costs or fees on its website. This is normal practice for timeshare exit companies. Fees are set on a per-case basis and reflect the complexity and demands of the case. Centerstone states that “we have found that we are very price competitive and are confident that we offer the best value in the timeshare relief business”.
Usually, we estimate fees by referring to customer reviews. Many reviews state what the reviewer paid, especially if the review is a complaint. Because Centerstone Group is a relatively new company, there are a limited number of reviews to work with.
A post on the Timeshare Users Group forum says the user had a consultation with Centerstone and the quoted price was $4000. A complaint on the BBB page says the user was refunded an initial payment of $4000 but the total amount paid (by a financing company) was $11,000. These two data points give a rough idea, but it is not possible to estimate costs accurately with just two figures.
Centerstone Group does not mention a guarantee on their site, They do describe an escrow service, which normally means money is not released to the company unless the customer is satisfied. Customer reviews describe using the escrow service but it is not clear whether it is automatic or optional, or if there are any restrictions.
Can You Trust Centerstone Group?
The statements and claims made on the Centerstone Group’s website are generally credible and do not throw up red flags. The Company provides a free initial consultation and states up front that they only work with clients they believe they can help. The escrow service is a positive sign, though we’d like to see more details on how it works. There are no scare tactics or unrealistic promises.
The website also states upfront that foreclosure is not a satisfactory outcome, which is a point many timeshare exit firms do not clarify.
We would like to see more clarity on the timeshare transfer process, and we’d like to see more information on whether the Company recommends stopping payments, but overall Centerstone’s information and disclosures are more transparent and more realistic than what we see on most timeshare exit company sites.
Centerstone Group is accredited by the BBB and has an A rating, indicating that they respond to complaints on the BBB site (customer reviews are not included in BBB ratings). We don’t see any record of legal or regulatory action against Centerstone.
Online Reputation
Online reviews are useful but must be taken with caution. Some negative reviews are posted because a customer did not understand the terms of the contract or had unrealistic expectations. Some customers are impossible to please. Review sites do their best to post authentic reviews, but some companies do place positive reviews. More detailed reviews are usually more credible.
Centerstone Group has a limited operating history, so the number of available reviews is relatively low. The reviews that are available are overwhelmingly positive. On the BBB site, the Company has an average 4.66 out of 5 stars from 50 reviews.
Many of the positive reviews are detailed and appear to be authentic. For example:
There are also a small number of negative reviews. For example:
On Google Reviews Centerstone has an average of 4.5 stars from 8 reviews, with 7 5-star and one 1-star review. The content of the reviews is similar to what we see on BBB.
While the Company’s presence on review sites is still low, it appears that satisfied clients outnumber unsatisfied clients by a significant margin. Many of the satisfied clients report that they are out of their timeshare, and elapsed times seem fairly short: months instead of the years that we often see reported.
What’s Good About Centerstone Group
- Three-pronged approach combining multiple strategies.
- Generally informative and realistic website.
- Candidates are vetted.
- Escrow system means the Company doesn’t get paid unless they perform.
- Overwhelmingly positive customer reviews.
What’s Bad About Centerstone Group
- Limited operating record.
- A small number of reviews describe poor comunications and failure to achieve a result.
- Some clarity gaps on the website.
Centerstone Group Website
Centerstone’s website is professionally designed and effective. The opening page describes the timeshare exit process, underscores the escrow payment option and the BBB rating, and offers a free consultation. The page quotes a number of positive reviews from the BBB and offers a contact form.
We’re not entirely sure what “No Money Down Or 0% Interest” means, but it’s possible that there’s a 0% interest financing option for the timeshare exit fee.
Inside the site, we find a page describing the Company’s services, and another comparing those services to other types of timeshare companies, including this chart.
There’s an “About Us” page with a description of the Company and brief bios on its President and two other key officers.
Overall we’d give the presentation high marks. There are no overt scare tactics or unrealistic promises. There are some issues we think might deserve clarification or additional explanation, as described above, but those oversights don’t give any impression of dishonesty or deception.
Social Media Presence
Centerstone Group maintains a Company Facebook page. It is liked by 80 people and followed by 87. It is updated almost daily, mainly with posts promoting timeshare exit services or expounding on the problems of timeshares. The statements are mainly accurate and we don’t see excessive promises. The posts do not have comments or other forms of engagement.
Centerstone does not maintain a Twitter page. Several Centerstone employees and officers have LinkedIn pages, but the Company does not. There is an Instagram page with content similar to that displayed on Facebook.
The Bottom Line
Centerstone Group is a new company with a limited operating history. It’s also a relatively small company. If you’re looking for a big-name industry player, it might not be your top choice.
If you’re looking for a smaller company that could offer a more personalized experience, Centerstone might be worth a close look. Reviews are generally strong, the Company’s website pitch is realistic and doesn’t overpromise, and the escrow option should protect you from non-performance (be sure to check for details and restrictions).
We’d still recommend talking to several companies, comparing their offers, and doing detailed research on a company before signing on the dotted line, but on the basis of available information Centerstone looks like one of the more credible options.
FAQs
Who Owns Centerstone Group?
Centerstone Group’s registration papers with the Nevada Secretary of State identify Mark Weaver as President and Director and Mika Weaver as Secretary and Treasurer.
Where Is Centerstone Group?
The BBB lists Centerstone Group’s main office at 3090 Bristol St., 4th Floor, Costa Mesa CA 92626. The Facebook page uses the same street address but in Irvine, CA (Irvine and Costa Mesa are adjacent). Centerstone also maintains an office at 680 Pilot Rd., Suite D, Las Vegas, NV 89119.
What Days/Hours Are Centerstone Group Open?
Centerstone Group is open 7AM to 7PM Monday to Friday and 7AM to 5PM Saturday.
Does AARP Or Any Other Group Endorse Centerstone Group?
We can find no record of any organization endorsing Centerstone Group.
What is the Contact Information for Centerstone Group?
You can reach Centerstone Group by phone at (702) 703-5398 or by email at info@centerstonegroup.com