If you would like to attempt to cancel your timeshare yourself, you have a couple options.
Your first option is to contact the timeshare company yourself and see if you qualify for their “deed back” program. To see if the timeshare company you bought from has a deed back program, check your original contract for a “deed back” clause. A deed back program is designed for you to give your deed back to the timeshare company for a fee. If your contract has a deed back clause, you can relinquish all ownership rights to the resort if you meet the conditions. Most resorts won’t accept a deed back if you’re behind in your maintenance payments or have a mortgage on the property. Because you’re essentially giving the property back, no money changes hands.
But can you really trust the timeshare company? These timeshare companies make billions of dollars selling timeshares. They are experts at getting people into timeshares… not out of them. For this reason and more, it is actually dangerous for your finances to contact them for assistance in exiting your timeshare. Resorts essentially have no financial incentive to remove you from your contract. In fact, many representatives are trained to use this as an opportunity to up-sell you into “better” timeshare. Often promising that you’ll be able to accomplish all of your travel goals if you just pay even more money.
Obviously, these companies have a strong financial interest in keeping you as a fee paying owner. They employ and train people to deliver powerful presentations and manipulate your emotions. It doesn’t matter who you are or what you know. Speaking or meeting with these representatives can be dangerous because they will literally go to any lengths to sell you more timeshare.
Picture telling the resort representative how you haven’t been able to use your timeshare and are having trouble paying all the fees… only to start countering these objectives with a script that a multi -million dollar timeshare marketing department has designed. They are trained to find those emotional triggers that convinced you to buy in the first place, and push on those pain points. You may inadvertently end up with a “better” vacation package that involves a “point system” or try to even sell you on more points to vacation better. Before you know it, rather than getting out of your timeshare, you are sold a larger one with more debt and more fees. However, some have found mild success using this route. Just be polite and see if you qualify.
If you do not qualify for the resort’s deed-back program, we recommend that you read your contract carefully and see if the benefits promised in the contract have been delivered. If they haven’t, you can write letters to your timeshare resort demanding cancellation and a refund for breach of contract and failure to deliver what was promised.
While this process works, there is a downside. Imagine trying to represent yourself in court. You have to gather all of the documents, prepare the evidence, know all of the rules, interview witnesses, cross examine the defendant, and so much more. You might even have to buy a suit! And if you do one wrong thing, the whole case is lost.
Canceling your timeshare is a lot like that. The timeshare companies have put in road blocks along the way in order to get you to back yourself into a corner. They will do things like offer you “financial hardship” paperwork, only so they can use that against you later and trap you into a longer mortgage term by adjusting your payments.
Let us be clear: in the same way a trial attorney viciously protects their clients, the timeshare company is viciously protective of their money. At times, our experts have witnessed a complete shutdown by mentioning just one wrong thing which leads to complete failure of timeshare cancellation.
Just remember the timeshare company is under no obligation to work with you. After all, you’re in a legally binding contract.
DIY timeshare cancellation is a difficult route to take. Here at Wesley Financial Group, we have a proven track record of getting people out of their timeshare. If you would like to learn more about our service, please reach out to us today. We are here to help. 800-425-4081