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How to cancel a timeshare

How to cancel a timeshare
07 Jun 2013
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Ever since the whole timeshare concept was created, the industry has been known for being very susceptible for scams. Timeshare ownership, however, can be a good purchase for people who enjoy traveling to the same vacation spot every year, but the truth is, that timeshares are not for most people, nor an financial investment either.

Unfortunately, most timeshares are sold in a high-pressure environment. Timeshare salespeople take advantage of vacationers, especially of those who are less able to resist hard and misleading sales practices. If you, or someone you know, happen to be a victim of a timeshare scam, read this article to know how to cancel a timeshare contract properly.

Reasons to cancel

There are several reasons to cancel a timeshare, these are the most common:

  • You may have realized you will not be able to afford your annual timeshare fees
  • You may have felt you were pressured into buying the timeshare
  • You may have realized you don’t know how timeshares work
  • You may have realized most of the verbal promises made by the timeshare salesperson are not written in the contract
  • You were told your timeshare property would be a good investment
  • You may have tried to sell your timeshare with no success
  • You have realized that you can travel for a cheaper rate on your own 

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How to cancel a timeshare

To know how to cancel a timeshare properly, these are the most important factors to take into consideration:

  • The date of purchase
  • The city where the purchase was made
  • The brand of the resort

Within the rescission period

Every timeshare contract has a rescission period, which will depend on the timeshare regulations of the place where the vacation property was bought. When purchasing a timeshare in Mexico, you have 5 calendar days to cancel your contract. When buying in the US; the rescission period will depend on the State where the purchase was made.

If you buy a timeshare, and you regret your purchase within your rescission period, the first thing you need to do is to write a letter (via certified mail) or an email to the resort requesting the cancellation of your contract. It is very important that you keep a copy of the letter as evidence that you cancelled on time.

After you send the letter, you should receive a prompt response from the resort, as well as a full refund of your upfront payment. If the company refuses to accept your cancellation request, contact the government consumer protection agency of the country where the purchase was made. Before you buy a timeshare, it is important to know your timeshare cancellation rights

When the rescission period has expired

Once the rescission period has expired, it becomes more difficult to cancel your timeshare agreement, but not impossible. Timeshare cancellation requires lots of time and negotiations with your timeshare resort and, and because of this, very few people can accomplish the whole process on their own, which usually takes from 3 to 6 months.

There are many timeshare cancellation companies that claim to get you out of your contract but after you pay an upfront fee, but this is only an extension of the original scam. Therefore, it is very important that whether you contact a timeshare lawyer or timeshare cancel professionals to assist you with your issue, that you do an internet research and investigate the company before making any formal deal with it.

how to cancel a timeshare

Timeshare cancellation, your best option

Without a doubt, timeshare cancellation is the best option to get rid of an unwanted timeshare. Once the timeshare contract is properly cancelled, there are no further financial obligations attached to the resort, which means:

At Mexican Timeshare Solutions we strive to give back freedom to people who purchased timeshare under the wrong reasons such as the financial investment spiel. Contact us for a free consultation on how we can help you cancel your timeshare contract.

Remember, our service is risk free as we work based on results so you do not waste any money paid up front. If you liked this article, please help us to share this information to more people in order to avoid more timeshare scams victims, how?

Information to Share

  • Share this link http://www.timesharescam.com/blog/158-how-to-cancel-a-timeshare/on your favorite blogs and forums

Are you also wondering how to cancel your timeshare? To know more about on how to cancel a timeshare visit:

How to rescind a timeshare contract? 

Cancel a timeshare, what are the advantages?

Cancel a timeshare- Tips to get rid of it

 

Leave your comment below and share this post on Twitter and Facebook to prevent others from becoming victims of timeshare fraud. 

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27 Comments
  • CarolinaSeptember 14, 2014, 1:16 pm

    i don't even know why i bought a timeshare.. i can't use it, i don't need it.. please help me!

  • Lyliam TéllezJuly 16, 2014, 1:29 pm

    Por favor quiero cancelar un contrato con westgate resort adquirí una propiedad en orlando en dic 2013 . Y los cobros mensuales y cuotas de administración no las puedo cancelar más . Gracias

  • Lyliam TéllezJuly 16, 2014, 1:29 pm

    Por favor quiero cancelar un contrato con westgate resort adquirí una propiedad en orlando en dic 2013 . Y los cobros mensuales y cuotas de administración no las puedo cancelar más . Gracias

  • EricaMay 9, 2014, 2:18 am

    mi esposo y yo compramos un tiempo compartido en el 2010, desde entonces no hemos podido usarlo, siempre hay una excusa en el resort, asi que me gustaria cancelarlo!!

  • AgustinDecember 15, 2013, 9:18 pm

    Antes de comprar un tiempo compartido si deben seguir todos los pasos, y lo mejor es que si alguien piensa en intentarlo deben tambien tomar sus medidas por si algun dia deben cancelar, sea posible hacerlo

  • KarenNovember 18, 2013, 9:40 am

    An investment? a timeshare is far from being an investment, people should know it, it's better not to buy a timeshare if later you're going to cancel, cause maybe it will not be possible!

  • BrandonSeptember 22, 2013, 7:16 pm

    it's good to know some of the things you require to cancel your timeshare, because the resorts wont tell you what you can do

  • LeonardoAugust 30, 2013, 11:45 am

    Que buen articulo, muchas personas no saben que hasta para cancelar es necesario tener en cuenta muchos puntos, y en las presentaciones aceptan muy rapido con la idea de que despues lo podran cancelar

  • RenéAugust 30, 2013, 11:43 am

    tengo un problema, quise cancelar mi tiempo compartido pero no supe que tenia un periodo de resicion y ya habia pasado, ahora no puedo salir, ayudenmee

  • LuciaAugust 30, 2013, 11:40 am

    Que buen articulo, estoy de acuerdo, hay muchisimas razones por las cuales siempre la gente quiere cancelar sus tiempos compartidos, ya deberian saber que es mejor nisiquiera meterse en eso

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