Timeshares can be a great way to enjoy vacation destinations and amenities without having the expense of owning property full time. However, when your lifestyle changes and you find yourself no longer needing or wanting your timeshare, it can be very difficult to get out of a timeshare contract.
If you’re looking to cancel your timeshare, there are a few things you need to know. First, you’ll need to understand your state’s law regarding rescission periods. This is a short window of time in which you can back out of your purchase. The amount of time that you have will vary by state, but it is usually at least three days.
After you’ve determined how long your rescission period is, you need to make sure that you notify the company within this time frame. You can do this by writing a letter. In the letter, you should include your name, address, contract number and the date that you signed your contract. You should also list your reasons for canceling. This will help them to understand why you want to cancel your timeshare.
Once you’ve sent your letter, you need to wait a bit. If your company hasn’t responded to you in a timely manner, or if they’re ignoring your request altogether, you may need to take further action. In some cases, this means contacting your state’s consumer protection agency to file a complaint.
Another thing to keep in mind is that there are many scams out there that claim to be able to cancel your timeshare. These companies should not be trusted and it is very important that you research any company before deciding to work with them. Check out the Better Business Bureau and other independent resources to see what others have to say about the company. It should always be a red flag when a company requests payment upfront before beginning any work on your behalf.
It’s important to remember that it takes time and effort to break free from your timeshare contract. But with the right information and by taking the proper steps, you can end your timeshare nightmare with minimal frustrations and financial burdens. By educating yourself on your state’s laws, speaking directly to the timeshare company or enlisting the help of third-party negotiators and/or attorneys when necessary, utilizing all your available exit options, and finalizing all cancellations with receipts, you can successfully cancel your timeshare and enjoy life without any timeshare worries.