So, you have a timeshare contract that you feel you don’t need and which you don’t want to be party to. Well, there many people who feel this way out there. Timeshare may seem like a great business deal until they are not. Besides the upfront fee that can be as much as $19,000, you also need to pay annual maintenance fees. This is not a small amount of money by any means even if
Many people purchase a timeshare and sign up for it while on vacation, only to realize later that they have done a costly mistake. While there are people who believe timeshares are great investments and they don’t have a problem paying for annual maintenance fee and interest, they are normally a bad choice for most people especially in the long run. Holding on to a timeshare you no longer want will only cause unnecessary expenses and may turn out to become a nuisance.
If you own a timeshare that you feel you should get rid of, then you should act as quickly as possible. But before you cancel timeshare contract, there are things you need to know that could save you a lot of money.
- As of 2020, there are still only a few of trustable timeshare cancelation firms in existence
You are definitely going to hire a company to help you cancel your timeshare contract. After all, it can be a very tasking exercise to take on your own. But before you hire any timeshare cancellation company, you should know that there are very few of these companies that will deliver what they promise. So, it is good to your homework well and find out which timeshare exit companies are legitimate before settling down for any of them.
- Selling your timeshare does not mean you have cancelled the timeshare contract
This is a secret many timeshare holders are not aware of. If you are tired of paying for your timeshare and sell it to someone else, you will still be responsible as the original owner for payment to your timeshare cancellation company whenever the person you sold your timeshare to ever stop making payments. This is because when you sell your timeshare, you are simply transferring the ownership through a quitclaim deed, which merely transfers title but not the legal obligations to pay annual maintenance fee or monthly mortgage.
- Cancelling the timeshare legally is the only perfect way to completely rid yourself of a timeshare
To cancel timeshare contract completely, you will have to negotiate with your timeshare company directly and try to convince them to agree to issue an official release. Typically, timeshare cancelation companies usually do this by literally holding timeshares fully accountable for any misdeeds of their timeshare sales representative. The misdeeds include FDCPA and FTC violations, outright exaggerations, and omission of facts.
To cancel timeshare contract without a hustle, be sure to work with a legitimate timeshare cancelation company like Timeshare-Answers.