If you have a timeshare and are ready to stop paying fees and maintenance charges, you have many options for getting out of it. However, you need to be careful and make sure that your timeshare cancellation is done legally and properly.
One of the best ways to do this is by working with a reputable company that specializes in timeshare cancellations. These companies will take the time to research your case and understand your contract. They will then work on your behalf to negotiate with the resort and developer on your behalf.
Almost all states have a rescission law that allows owners to cancel their timeshare contracts within a limited period after they sign it. Usually, this is 3-14 days.
Some of these laws also require that the owner send a letter in writing stating their intention to cancel their timeshare. Whether this is done online or in the mail, it is important that it is received by the resort or development company on time.
This can be very difficult to do on your own. Often, sales representatives will mislead you into believing that you can cancel your timeshare with a phone call instead of sending in a letter.
When you write the letter, try to keep it short and concise. This will help you to focus on the main points and not get too emotional about it.
If the reasons you want to cancel your timeshare are legitimate, you should be able to do it without too much trouble. It might be because you no longer want to spend time at a certain resort or because the maintenance fees are too high for your budget.
In order to avoid any problems, be sure to follow the rescission laws in your state and mail your cancellation letter as soon as possible after you sign it. If you fail to do this, you can lose your ability to rescind.
You should also be aware that there are some companies who will try to charge you for timeshare cancellation services even if they can’t take care of your problem. These companies will try to tell you that they can help you cancel your timeshare and then they will charge you an upfront fee.
Another common way for scammers to deceive consumers is to offer to take a loan out against your timeshare. This can be a dangerous proposition because it puts you on the hook for all of the money that was used to purchase your timeshare.
These types of companies will often use legal tactics to force you to pay them. For example, they will threaten to file a lien on your property if you do not comply with their demands. This will put you in a financially unstable position and could end up costing you a lot of money in the long run.
The only way to safely and legally cancel a timeshare is by working with a reputable company. These companies will have years of experience in the industry and will know how to negotiate with the resort or developer on your behalf.