Cancel a timeshare contract How Many business days do I have ?
If you just signed a timeshare contract in Mexico, and you realized that you really don’t want your timeshare, or you feel that was a mistake, you can cancel your timeshare contract if you are still in your rescission period. Learn about the business days to cancel a timeshare contract in Mexico.
At the timeshare presentation, most of timeshare salespeople tell you that you have lost the right to cancel your timeshare contract when you signed it, but this is a lie. As a timeshare owner you have a period to cancel your timeshare agreement with no penalizations, you can read more about the rescission period in:
What are the rescission laws for timeshares in Mexico?
When can you cancel a timeshare contract?
How long do I have to rescind my timeshare? – Mexican Law
Why should you cancel your timeshare contract?
Timeshares are nothing but an expensive purchase, and with the economy as it is today, is almost impossible to afford an expense like that. Here are the most common reasons why you should cancel your timeshare contract:
- You are not able to pay the many timeshare fees involved.
- You cannot go on vacations wherever you want.
- It is very difficult to make a reservation in the timeshare resort.
- You will waste time and money trying to rent or sell your timeshare weeks.
- If you stop making your payments, you will be sending to collections affecting your credit score.
These are just a few reasons to cancel your timeshare contract, but there are a lot more.
Business days to cancel a timeshare contract in Mexico
The timeshare cancellation needs to be done as soon as possible, as soon as you feel unhappy with your timeshare purchase.
It is important that you know that every timeshare contract has business days to cancel it, which depends of the country when you purchase your timeshare property, Mexico in this case. According to the Mexican law, there is a 5 business days cancellation period to legally rescind your timeshare contract with no penalizations, these days are from Monday to Friday (Saturday and Sunday do not count as business days).
If you decide to cancel the timeshare contract and you still are in your business days to cancel it, you should notify the resort as soon as possible with a timeshare cancellation letter.
Timeshare Cancellation Letter
First of all, you need to know what information you must include in the timeshare cancellation letter within the business days to cancel a timeshare contract in Mexico. This is the list of information you need to add in the letter:
- Full name
- Address
- Phone number
- Contract number
- Contact information
- Body of the letter with an statement that you are requesting the cancellation
- Date of purchase
- Signature
It is important to send this letter during the business days to cancel a timeshare contract in Mexico. It is also important to keep evidence that you sent the cancellation letter on time.
To see an example of timeshare cancellation letter, you can visit:
Sample Timeshare Cancellation Letter
If you sent your timeshare cancellation letter during the right period but you have not received answer from the resort after 15 days, don’t feel hopeless. Timeshare cancellation is a difficult process. Contact us and ask for a free consultation. At Mexican Timeshare Solutions, we are sure that we can help you cancel your Mexican timeshare contract.
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If you want to know more about the business days to cancel a timeshare contract in Mexico, visit:
Get out of a timeshare legally – Timeshare Law
Timeshare Regulations in Mexico
How long do I have to wait to get a confirmation on a cancellation of a timeshare contract?
