How do I cancel a timeshare?

How do I cancel a timeshare?

Post in timeshares

Who would want to pay for something they rarely ever use? This is the question a lot of timeshare owners and timeshare buyers face everyday. After years of paying their timeshare mortgage or additional costs like annual maintenance fees, owners begin to start thinking about timeshare cancellation. In order to cancel a timeshare agreement, you first need to start from square one by figuring out how to accomplish this task.

What most owners tend to lean towards in order to cancel their timeshare is finding a timeshare exit company.

Getting rid of your timeshare is not a simple task, but exit companies can give you peace of mind that someone else is going to work for you everyday and not back down from the timeshare industry. However, you will need a cancellation company who makes sure they can cancel your timeshare by going through a qualification process. Do not work with companies who will outsource your case to a law firm, real estate attorney or other companies. Also, make sure the company has a 100% money back guarantee so you don’t find yourself deeper in debt.

The Step-By-Step Process Of Cancellation

When working with a legitimate timeshare cancellation company, you will notice that they lay out a step-by-step process to work towards helping you cancel the timeshare.

No Cost Consultation

What better way to help struggling owners than to start with something that is completely free. This is a crucial first step where you and a representative get started by going through your background, your timeshare purchase, what kind of timeshare developers or timeshare company you’re dealing with, all of your timeshare agreements, and your options moving forward. It’s really a way to get to know each other before signing any documents or jumping right into things right away. 

Account Review

This is where a qualification specialist meets with you to make sure that you qualify for a timeshare exit. A lot of times the aspects of your timeshare (or timeshare mortgage) that may have been brought to the surface in the free consultation are also talked about here. In this step, the specialist will also create your file and assist you in having your account approved for a guaranteed cancellation.

Account Resolution

This is where a resolution department helps owners permanently terminate their timeshare. The customer is assigned a single point of contact and receives around the clock customer service, which includes updates about the status of their timeshare agreement and its termination. This process could take anywhere from a few months to over a year, it fully depends on the situation you’re in and the type of timeshare company you’re dealing with.

Termination

This is the final step of your process where you receive confirmation that your timeshare has been terminated and you’re free of being tied down to any timeshare company.  This is the step everyone looks forward to!

Is it hard to cancel a timeshare?

People who have been lied to or misled in the sales process of buying their timeshare tend to find cancelling their timeshare much easier. If a timeshare exit company can find evidence of this, the wait time to get a timeshare terminated is usually much shorter.

The reason it’s so tough to know whether cancelling a timeshare will be hard or not, is mainly because it depends on the situation of the timeshare owner, timeshare agreement and timeshare laws in said state. If you purchase your timeshare and decide to cancel it soon after, you may be able to take advantage of something called a rescission period. At the maximum, this is usually a two-week allotment where you can cancel your timeshare by reaching out to the company you purchased it from. If you are fresh into your agreement, you should start the process of cancellation immediately, by contacting your timeshare company. On the other hand, if you’re years into your unit, you’re much better off exploring the options previously mentioned above, because your rescission period has expired. 

How do I cancel a timeshare?

Cancellation Letters

A lot of timeshare resorts and their developers require owners to send a timeshare cancellation letter stating that they wish to cancel their timeshare. It is important to map out a draft, rather than quickly writing down your grievances and sending it off.

Read your agreement carefully and see if the benefits promised in the agreement have been delivered. If they haven’t, you can write letters to your timeshare resort demanding cancellation and a refund for failure to deliver what was promised. However, this is a very tricky approach and should only be done by timeshare cancellation professionals.  If you attempt to write and send the cancellation letter yourself, you could potentially say the wrong thing, and the timeshare company will flag your account and block the cancellation. Hiring a timeshare cancellation company that knows exactly what to say and when to say it, is a good alternative.

Summary

No matter how you go about it, cancelling a timeshare is a multi-step process. Considering all of the work and nuances involved, it is best to hire a timeshare cancellation company to help you terminate your timeshare agreement. 

If you feel you were lied to during the sale of your timeshare, you might have an easier time cancelling your timeshare. There are also other factors to take into account when it comes to how to cancel your timeshare: the location of your timeshare, the length of time you’ve owned it and the specifics of your contract. 

Wesley Financial Group, LLC is a timeshare cancellation company with long standing industry experience, thousands of successful cancellations and millions of dollars in debt relief for their clients. Check out their website for more information on a legitimate and safe cancellation option.