Timeshare cancellation can be a challenging process, but there are steps you can take to make it easier. You might be able to use your state’s rescission period, write a letter, or get in touch with experts to find out what you can do.
Almost every state in the US has laws that allow timeshare owners to back out of their contracts within a short period of time after signing it. The length of this time depends on the state, but it usually is a few days or less.
You may be able to cancel your contract by simply writing a letter, sending it to the management company or owner, and giving them back the money you paid. You should be able to do this if the contract or governing document is clear about this. If it isn’t, however, a timeshare exit company might be able to help you.
A timeshare company should not require you to pay any up front fees before they can begin work on your case. This is a big red flag that the company could be trying to scam you or set up a shell company that will eventually take your money and disappear.
The best timeshare cancellation companies have a strong track record of helping people, are eligible for your type of property, offer a strict eligibility policy, and have a process in place to guarantee your financial security. These companies should also have positive reviews on sites like Best Company and Google.
One of the most common reasons people end up with a timeshare is that they bought it because of misleading or disingenuous sales practices from a company’s representatives. These may be things like misrepresentation of benefits, or failure to disclose key ownership information or other concerns.
It’s also not uncommon for timeshare companies to make a profit on their re-sale of units or other assets, which can be an incentive for unscrupulous operators. Many of these operations have been caught cheating and ripping off innocent customers, which is why it’s important to know your rights as a consumer before buying or re-selling a timeshare.
While most states have a rescission period in their laws, it’s often difficult for owners to understand this law and how to take advantage of it. This is because timeshare sales representatives sometimes fail to mention the existence of this period, or they might misstate how long it lasts.
Some timeshare companies even go so far as to hide a rescission clause in their sales documents, which makes it difficult for buyers to locate and use. Fortunately, some of the most popular resorts have begun to provide rescission instructions in their marketing materials, so you can easily find this information.
You can also contact the state’s attorney general to ask for more information about the rescission period in your specific area. The attorney general will have the legal authority to make sure that your rights are protected.