Timeshare relief is an often-overlooked way to get out of a timeshare. But it is a real option that can save you money and headaches.
The best timeshare relief companies have experience and expertise in the resort industry. These businesses understand how to navigate changes like buyouts, mergers and bankruptcies that can make the process confusing for timeshare owners.
They also have experience dealing with the financial obligations that are associated with timeshares, such as annual maintenance fees and loan interest. They can assist with paying down the balances that are owed and help get the owner out of the contract, including canceling or transferring ownership.
Getting out of your timeshare is a complicated process and can be costly, but it isn’t impossible. It’s just that it takes a lot of work and some help to get the job done right.
First, find out your state’s recission laws and when they end. Some states don’t allow a recission period at all, and others only allow a certain amount of time to return the ownership of your property. Then, you need to find out if your timeshare is eligible for cancellation and what steps you’ll need to take to get it back.
Many times, this is a complex process and will require some legal assistance to do it right. You’ll need to have a seasoned attorney that knows this area of law and has successfully helped clients escape their timeshares.
Another reason to hire an attorney is because if you do end up with a debt from the company, it will show up on your credit report. You’ll also need to be careful about sending the letter of cancelation through certified mail, as it costs around $4 per letter.
It’s important to be aware that these debts can affect your credit score, which could mean that you’ll be paying more for a home loan or other big purchases down the road.
When you’re researching timeshare relief, be sure to read reviews from the Better Business Bureau and the Attorney General’s Office. There are many companies that charge up-front fees and offer money back guarantees, but those are often bogus.
The best timeshare relief companies are ones that will take the time to explain the whole process and offer guidance in an honest manner. They’re also ones that will try to make the elimination of your timeshare as easy and inexpensive as possible, instead of charging a huge upfront fee and asking you to pay it off over a long period of time.
They’ll also provide advice on how to handle the process if it gets messy or if you run into any issues. And they’ll be able to help you avoid the common mistakes made by consumers who have tried to go through the process on their own.
The American Bar Association (ABA) has an online listing of timeshare relief lawyers that will help you choose a firm that’s qualified to get the job done. You can search for a lawyer by name or state and find their website. Ideally, they’ll be willing to sit down with you over the phone to discuss your situation and offer options.