Timeshare Cancellation is a popular way to get out of timeshares and avoid the fees and restrictions associated with them. However, it’s also a daunting and difficult process that requires time, attention and knowledge.
Many people have a timeshare they love but have become trapped in it due to their own mistakes and financial hardships. If this is you, it’s essential that you understand your options for canceling a timeshare so that you can make an informed decision about whether to leave your timeshare.
You should first consult with your state’s consumer protection agency or a local attorney about your rights and responsibilities as a timeshare buyer. Most states have laws that allow buyers to rescind (cancel) timeshare contracts within a certain amount of time.
Some states also have laws that require sellers to make cancellation information clearly visible and accessible. If you are buying a timeshare in a foreign country, that country’s laws might have different cancellation rules than those of the United States.
Once you know your rights, it’s important to send the seller a written notice of your intention to cancel your contract. Be sure to follow the company’s instructions for sending your letter, and be sure that it is delivered within the rescission period stated in the contract.
The letter should also include specific details such as the date of purchase, the timeshare interest and why you are cancelling the agreement. If you don’t provide these details, the resort will have no choice but to ignore or reject your request.
You should also include any relevant documents such as proof of purchase or receipts that confirm your purchase. It’s also important to include your name, address, and telephone number.
Your letter should be written in clear, concise language and should explain why you want to cancel the timeshare. If you don’t, they might decide to ignore your request and keep it moving.
A good timeshare cancellation company should work with you on an individualized basis to determine your situation and develop a plan of action that works best for you. This entails an initial contact and assessment, document liaison, and courier services for all documentation required by the developer or resort brand.
They should then work in your best interests to ensure that all documents are forwarded to the proper parties and acted upon promptly until a solution is found.
Some timeshare companies even offer free cancellation assistance. They may have a money-back guarantee, but you should be wary of this option.
Most timeshare companies will charge an upfront fee for their service. This is to cover the cost of their initial consultation, and for their time spent examining your timeshare and researching possible exit solutions.
You should also be aware that some timeshare cancellation companies may have a conflict of interest with the developers or resorts they represent. They might be paid to promote and advertise their service to you, rather than working in your best interests.