Timeshares are controversial in that the practices are not always fair and ethical. Many people consider timeshares to be scams that include aggressive sales tactics and expensive monthly fees. Worst of all, many contracts are very difficult to cancel and could take months to sort out. There are still several ways that you can cancel your timeshare.
Know Your Rights
The rules of timeshare sales and purchases vary under different countries and jurisdictions. Understand the laws in the place where you made your purchase. In Mexico, for instance, timeshare sales are not valid from companies that are not approved by certain government departments. After you know the laws, you have to review the contract and work with those terms.
Rescinding the timeshare contract is a legal right given to every purchaser. You must do so by a certain deadline, which varies in different regions. If you entered into any verbal agreement not to give up the contract, that is not legal. A verbal agreement is not admissible in court and neither is a document stating that you choose to rescind.
Send a Cancellation Letter
Most businesses allow you to cancel by phone or email, but other contracts require that you cancel in written form. A letter is admissible in court if the timeshare provider claims that you did not cancel.
This letter is not valid if you do not include all of the right details. Include full details about the purchase and a clear statement that you want to rescind. Follow the correct delivery method, as stated in the contract, and mail the letter before the deadline.
Hire an attorney or company to cancel the timeshare for you. Some companies have worked for more than 10 years and cancelled thousands of contracts. Learn about everything that the company can do for you before you make another commitment.
Although most cancellation agents have good intentions, some people will resell your contract. Review the company’s background along with customer reviews and years of experience. Most of all, get proof that they are qualified to remove all of your timeshare fees and payments.
If you ever consider getting a timeshare cancellation, you know that you’ve made a bad investment. You have the legal right to cancel any contract that is becoming too expensive and too complicated to follow. Withdraw from your timeshare deal now to make better consumer decisions in the future.