Timeshares are a popular vacation ownership arrangement that can be great for accessing luxury resorts and destinations without the expense of owning a property. But, they can also be a huge financial burden that leads to credit problems and an ever-increasing stream of fees. For many, the only way to get out of a timeshare is to cancel the contract. That’s a long process that can feel nearly impossible at times. But it doesn’t have to be. In fact, there are a number of proven steps you can take to end the stress and avoid costly fees.
The first step is to find a legitimate timeshare cancellation company. You want a company with years of experience in this industry, as well as a reputation for success. They should have an initial assessment process where they meet with you personally to discuss the details of your property and assess whether or not you’re a good candidate for their services. They should also have a dedicated customer service department that answers all your questions and works in your best interest until they’ve successfully negotiated your exit solution.
If you’re still within your rescission period (the amount of time is stated on your timeshare contract), the next step is to write a letter of rescission. Check your contract for specific details on how this must be done – some companies may require in-person delivery while others require certified mail or similar methods. If you’re on vacation, head to a local business center to use their computers or a public space such as a library. Once your letter is written, it’s vital to get it in before the deadline.
Once you’ve contacted your timeshare company to inform them of your desire to end the contract, they should work in your best interest to help you achieve your exit solution. Typically, they will offer to waive any penalties for early termination or prorate them over a specific period of time. In some cases, they may even negotiate a buy-out of your timeshare.
When you work with a trusted timeshare cancellation company, they’ll review your property and identify any potential loopholes in the contract that can be leveraged to your advantage. They’ll then work diligently on your behalf to ensure all paperwork is properly filed and forwarded through the proper channels until a successful outcome is achieved.
If you’re stuck in a timeshare that’s costing you more than it’s worth, contact RFA Corporation for a free consultation. We’ll evaluate your situation and provide a tailored strategy that will work in your favor. We’ll keep you updated every step of the way, and our team will be with you until you’re completely out of your timeshare! To learn more about our services or to schedule a complimentary consultation, fill out the form on this page. We look forward to hearing from you!