In today’s day and age, if you buy a timeshare, you are buying into an agreement that is very difficult to get out of. Timeshares are contracts that are legally binding, especially if you have a mortgage on the property. You should seek help if you need to cancel your timeshare, though. This article will provide you with some basic information about the process.
The first thing you need to do is learn the legalities of your particular situation. Your state will have different laws that regulate the cancellation of your timeshare. Some states have a “cooling off” period where you can rescind your agreement without penalty. Depending on your contract, you may also have other options if you cannot rescind your agreement.
After you have decided to cancel your timeshare, the next step is to write a formal notice of your intent to rescind your contract. Make sure you include your reasons for wanting to rescind your agreement, and that you follow the brand’s instructions for your letter. Be sure to keep extra copies of your correspondence for future reference.
One of the best ways to learn about the process of cancelling your timeshare is to contact an attorney. They can advise you about your rights, and can also contact the resort on your behalf. A good lawyer will be able to answer questions you may have, as well as present you with the most cost-effective course of action. Using an attorney to cancel your timeshare can be a wise decision, as they are trained to help you avoid any pitfalls. However, they can also take years to work out your case.
You should send your letter to the company in question and ensure it is received. You should also ensure you have mailed the letter in certified mail, as this will serve as proof that you sent it. Don’t forget to include a return receipt! If you don’t, the timeshare resort will likely pretend that they lost your letter.
Although there are many tricks up the sleeve, the best way to cancel a timeshare is to get professional help. There are several types of professionals, including lawyers and cancellation companies, who promise to make your deal go away. But you’ll probably need to spend some money to get the job done. These services often start with a free consultation, and will walk you through the process of rescinding your timeshare.
If you’re unsure about which type of service to use, you can always check out the Timeshare Exit Center (TEC), which offers advice on reputable companies and helps you find a reputable exit solution. TEC has reviews on over 50 different timeshare exit companies.
If you do decide to get the professional help you need, make sure you ask the right questions. You should also be able to expect to receive a full refund of your purchase. If you don’t, you’ll have to pay a transfer fee to the company.