If you have decided to cancel your timeshare, it is important to understand what the process involves and how you will be able to get your money back. Getting your money back will depend on your state’s laws. You might need to hire a professional to assist you or even go the legal route. In any case, it’s important to know your options before you commit to anything.
Timeshare cancellation is often a complex process. For starters, you’ll need to find out how long your state’s rescission period is. A rescission period can vary from 3 to 15 days, depending on the laws of the land. While you’re at it, you might also need to consider whether you’re able to transfer your ownership to another party.
However, most timeshare companies will not let you out of your contract without a lot of effort and paperwork. Luckily, there are some ways to get around the red tape and end your contract on a high note. The most obvious way to do it is to use a reliable timeshare cancellation service.
Among other things, a reputable company will help you find the best possible deal on a timeshare, and then get your contract canceled. Having a timeshare means you’ll need to keep up with maintenance fees, and you may need to have it transferred into an escrow account. Fortunately, this won’t affect your credit rating.
A timeshare contract is a legally binding document that states your financial obligations to a resort company. Some of these contracts will allow you to write a cancellation letter in person or by mail, while others will require you to submit your documents by registered mail.
One of the most important things to remember when it comes to timeshare cancellation is that the letter must be delivered in a timely manner. Many developers are reluctant to accept a simple letter, so you may need to make a phone call to ensure your contract will be accepted. Another consideration is that you may have to pay a surrender fee. Luckily, a number of companies will handle this for you, and will send the required documents to the resort management.
There are other methods you might try, such as calling the customer service department and requesting a refund. This isn’t always possible, however, as some timeshare companies have their own rules. So, make sure to read the fine print and be careful when signing a contract.
As with any big decision, it pays to do your research and take your time. You might be surprised to learn that some states actually have more than one timeshare rescission law. Moreover, there are many websites that offer free information on how to cancel your timeshare. Lastly, you might want to take a look at a reputable timeshare exit company like Consumer Consulting Company LLC.
Of course, if you’re still not sure if you’d be better off letting your timeshare go, you can always try your luck on the resale market. Unfortunately, there are many unscrupulous players in the game, so it’s a good idea to be armed with facts before you make a decision.