When you purchase a timeshare, you may not be aware that you have a right to cancel it within a specified period. In most states, this rescission period is between three and fifteen days. If you miss this window, you won’t be able to get your money back. There are a few options, but you should consider all of them before committing to something that you later regret.
One of the most effective ways to stop paying your timeshare is to sell it. However, that option isn’t always available. You can also look for a company that offers a timeshare exit program. The right one will be able to show you how to take the first step toward a timeshare exit.
Another good way to end your timeshare is to give it away. However, you should avoid giving away your prized possession in exchange for money. This can be a costly endeavor, and will likely hurt your credit rating, as well. Rather than risk this fate, consider selling your timeshare for cash or finding someone who can use it for a vacation.
For example, there are several companies that specialize in reselling your timeshare. These services will help you to find a buyer, and can sometimes help you to cancel your contract. While these services can be beneficial, there are also unscrupulous players in the resale market.
Some of these companies will charge you a fee, or a percentage of the sale price, to list your timeshare for sale. Other companies will simply collect your payment and then disappear with your money.
Taking the time to find the right company to work with is important, as is obtaining legal counsel. Timeshare contracts can be complicated and you should be careful to read them thoroughly.
It’s also a good idea to see if your resort is willing to take back your timeshare. Oftentimes, your resort will be more than happy to take it back.
If you don’t want to go through the hassle of a third party, you can try to negotiate your own exit. The best way to do this is to speak to the resort staff. Many have in-house exit solutions.
Aside from talking to your resort’s staff, there are also timeshare exit companies out there. Cancel Timeshare, for instance, has a website and mobile app that lets you submit documents and track your case. The site has an online forum as well, so you can get advice and feedback from other people who have canceled timeshares.
Finally, the real secret to getting out of a timeshare is to do your research. Find out how long the rescission period is, and how to find the right one. Also, check out your state laws for the best way to get a refund. Depending on your situation, you may need to have a lawyer draw up the relevant paperwork for you.
Although there are a number of options, the best route is to contact an experienced exit specialist to help you get out of your timeshare.