Timeshare Cancellation is a process of voiding or terminating a timeshare contract. This can be done if the person signed during a rescission period or if they are able to show that a company or salesperson committed fraud in selling them the timeshare. It can also be done if the timeshare is no longer used or if the person wants to sell it.
Getting out of a timeshare isn’t easy, but it is possible with the right help and persistence. Many people can cancel their timeshare on their own without outside help, but it is not recommended that anyone try this if they are not familiar with the ins and outs of a timeshare contract and timeshare cancellation law.
Timeshare companies are notorious for trying to discourage customers from canceling their contracts, because they know that buyer’s remorse is common and can lead to complaints. Often, they will tell you that there is no way to get out of the contract and may even accuse you of fraud if you try to terminate it after the rescission period has passed. However, there are ways to cancel your timeshare that can help you avoid losing your money and keep you out of a bad situation.
The first step to a successful timeshare cancellation is getting all the required information in writing. This is important because it makes sure the letter is legally binding. It is also a good idea to use certified mail to ensure that your letter can be verified as received. It’s too easy for a timeshare company to claim that they never got your letter when you are trying to cancel, so be careful.
Your cancellation letter should be clear and focused, with no ambiguity or misspellings. It should also be drafted when you are calm and not emotional. If you are at your boiling point when you write the letter, it will be too easy to say too much of the wrong things and not include all the oh-so-important details of the contract.
It’s also important to follow the specific instructions for sending your letter in the rescission period. This will vary based on the law of the state or country in which you executed your contract. For example, some states allow hand delivery and others only require certified mail. It’s best to always follow the laws exactly, or you could be slapped with a fine or even lose your ability to cancel.
Another option is to hire a timeshare cancellation company. These companies can negotiate on your behalf with the developer or resort and help you get out of your timeshare contract. They typically charge a fee for their services, but they can save you time and stress by handling all the details of your timeshare cancellation. They can also provide legal representation if necessary, although that may be costly depending on the circumstances of your case. In some cases, it can take months or even years to resolve a timeshare cancellation issue.