Timeshare cancellation works by finding a resolution between a timeshare owner and timeshare developer through a mutually agreed upon outcome.
Knowing how timeshare cancellation works allows you to research what options may be best for your situation.
Timeshare cancellation is not a 'one size fits all' process and depending on your situation you may need special attention during the process.
Differing factors like - when you bought your timeshare, if it is still financed, or even which timeshare company you own with all have an impact on the process of cancelling your timeshare.
So how does it work then?
Although we are simplifying things a bit, the nuances do not matter. These outcomes are the only three outcomes that will get you out of your timeshare.
Now let's back up - which of those three options seems most beneficial to you?
Foreclosure doesn't sound great, right? That's because it isn't...a foreclosure can ruin your credit and may stay on your credit report for years. Even worse, you may still be liable for unpaid debts that are owed on the timeshare. This means loan payments, penalties, and maintenance fees can still be collected after the timeshare is foreclosed.
Let's examine option 3 - How likely is it that you are willing to pay an attorney and fund a lawsuit against your timeshare company when the most you could expect to get back would likely be way less than the cost of the lawsuit? Makes no sense, right? Your timeshare company knows this...that's why they have an Army of attorneys and are prepared to fight for years in a courtroom if need be. Lawsuits are wars of attrition and usually he or she who has the most money wins because they can go afford to prolong the process.
See where I am going with this...
The only logical way to cancel your timeshare is to get your timeshare company to agree to cancel the contract.
That's right - you or whoever you decide to hire must persuade the timeshare company to cancel the contract. That's a tall order. Why would your timeshare company agree to let you out of a legally binding contract? How does it benefit them to lose the revenue from your timeshare loan or have to assume the responsibility of paying the maintenance fees on your timeshare? It doesn't make sense and isn't an obvious solution to your situation.
But it does work - the secret is knowing the process. Knowing what to say, when to say it, what actions to take or not take. These little pieces are all part of the recipes for successfully cancelling a timeshare contract after the rescission period.
is the number one question we are asked when speaking with a prospective client. I mean it seems simple enough - all you have to do is convince your timeshare company to let you out of your contract.
Not so fast...Remember from above "the knowing" part? Well that comes from knowledge, subject matter expertise, and experience. Attempting to cancel your own timeshare would be akin to being your mechanic when your car breaks or your own doctor when you're sick. It's not that you're not a smart and capable person, it's that you do not have relevant experience cancelling a timeshare and are also emotionally involved in the situation.
So it goes without saying...Attempting to cancel your own timeshare is a bad, actually very bad, idea.
Most often you will make so many mistakes that you will ruin any chance for a third-party to fix the situation. Meaning you'll be stuck. Still ready to go alone and conquer? Best of luck - Don't say we didn't warn you.
Timeshare Cancellation Companies will initiate a thoughtfully crafted series of first-party disputes. These disputes, also backed by independent actions, are designed to elicit responses from timeshare companies, open dialogue, and begin the negotiation process for terminating a timeshare contract. It's no secret that big companies these days use technology, outsourcing, and automations to handle customer service. So it's safe to say the biggest hurdle is actually getting in front of someone who can take action to help you inside your timeshare company.
Ensuring the right keywords are included in your disputes is vital. What may seem unethical or an issue to you, may not be that relevant to the timeshare company. Knowing what to include and what to omit is paramount. Also, the sequence of action is critical. Your timeshare company is dedicated to attempting to resolve your complaint without cancelling your timeshare contract. It is crucial that any and all leverage you have is applied at the decisive moment in the dispute process.
Just know - it's not as simple as writing a complaint letter and getting out of your timeshare.
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