Timeshare Cancellation – How to Do it Right the First Time
If you want to cancel your timeshare, it’s important to do it right the first time. It’s easy to get frustrated with the process. But the key is to act quickly. You should always seek legal counsel if you have any questions. Luckily, there are a few things you can do to make the process easier.
In many cases, timeshare providers will try to stop your cancellation, but if you’re working with a legitimate company, they will work with you to ensure you are able to complete your exit. They also have a good chance of being able to stop any fees and penalties you incurred for not using your unit. However, if your provider is not willing to help you out, it might be in your best interest to look elsewhere.
The best way to start your exit plan is to contact a reliable timeshare cancellation service. These firms will provide you with a free initial consultation to evaluate your situation. Once you decide to hire them, they will draw up appropriate documents and courier them to the timeshare management. When they receive the documents, they will work with you to ensure your timeshare agreement is canceled.
It’s important to write a formal letter stating your intention to rescind your contract. Although it’s not required, it’s helpful to list reasons for your cancellation. This makes the letter more understandable and allows you to avoid the feeling of being unprepared. Remember, your cancellation letter needs to be delivered before the deadline.
A rescission period is generally very short, usually a few days. Depending on the details of your agreement, it may vary. Most states allow you to have a cooling off period of three to 15 days. If you don’t have a written cancellation, the timeshare company can keep your maintenance fees and may even sue you. There are other ways you can stop your fees, but these can be more costly.
Timeshare companies are notorious for scams and fraudulent activity. So, it’s important to do your own research and to find a reliable company that will help you to navigate the red tape. Make sure your timeshare agreement is a clear and concise contract. Be wary of any companies that ask you to sign something besides a contract.
To protect yourself, you should not give any financial information to a company unless you have verified it. This means that if you’ve already paid for your unit, you need to avoid any unscrupulous companies that ask for up front money. Also, be wary of any timeshare providers that threaten legal action. Your rights are protected by law.
You should also be aware that there are schemes that allow for the transfer of ownership. A timeshare is a property that is split among multiple owners. Each owner has a schedule as to who gets to use the property when. Sometimes, it’s inflexible and difficult to use. Another reason you might need to cancel your timeshare is if the maintenance fees are rising.