If you purchased a timeshare and are starting to regret your decision, you may be considering getting out of your contract. Fortunately, there are ways to get out of your timeshare – but it takes persistence and a little bit of know-how.
The first thing to remember is that every timeshare purchase has a period of 3 to 5 days (known as the “rescission” period) in which you can cancel your purchase if you so choose. This window of time is the easiest time to cancel a timeshare, and it is important that you don’t miss out on this opportunity.
However, you must be sure to follow the instructions in your contract carefully. Many companies require you to send a cancellation letter within this timeframe, and some even only allow delivery via certified mail. It is a good idea to keep a folder specifically for your timeshare cancellation correspondence, so that you can keep track of your deadlines.
In addition to rescission, there are a few other methods of getting out of your timeshare, including gifting it to someone else or selling it on the resale market. The best option for most people, though, is to find a trusted resource that can help you cancel your timeshare legally, through the process of Timeshare Cancellation.
The most common way to cancel a timeshare is to write a letter to the company during the rescission period. This is a legal right granted to new timeshare buyers by state law, and it is an effective way to get rid of a timeshare. However, it is not easy to do, and you need to be careful to follow all the requirements exactly.
You should also be sure to include all the important details of your situation in your letter, such as your name and address, the date you signed your contract, and why you are canceling your timeshare. The person reading your letter should be able to understand your request quickly and easily. It is also important to make sure that your letter is as clear as possible, and that you use bullet points or bolding to highlight key information.
There are many scammers that claim to help with timeshare cancellation, so be careful and do your research. Many of these companies ask for thousands of dollars upfront and fail to deliver on their promises. There are reputable resources available, such as the Better Business Bureau and the American Resort Development Association, that can point you in the direction of legitimate assistance. It is also important to work with an attorney who specializes in contract law and has experience helping clients get out of their timeshares.