A timeshare agreement can be a recipe for disaster. Many buyers end up desperately looking to part ways with their timeshare obligations. However, ending a timeshare ownership relationship is not always an easy effort, leading many owners to ask, can lawyers get you out of a timeshare?
It's a challenge for many timeshare owners to end their purchase agreements. It primarily comes down to the annual maintenance fees. Clients must address these fees as long as they own a unit, even after completing their mortgage payments. Timeshare companies don't want to give up these perpetual fees because they provide lucrative protection for their business model.
Many people have taken on sizable debts due to their timeshare agreements. However, new exit options have opened up, with more upset owners coming forward in recent years. Cancellation companies specifically now exist to help clients escape the timeshare industry.
Timeshare lawyers help their clients in a variety of ways. They can help them understand their rights and obligations under their timeshare contract, advise them on negotiating with their timeshare company, and represent them in court if necessary.
Timeshare lawyers also help their clients by providing information about the timeshare industry and the options available to them.
A timeshare lawyer can assist you in terminating your timeshare contract. Legal representation protects consumers first and foremost from debt collectors who may be sent to settle these obligations. A timeshare attorney can assist consumers who want to get out of their timeshare obligations due to high maintenance fees, interest payments, or other costs.
Turning to a legal representative experienced in timeshare law makes sense when you wish to cancel your agreement. Nonetheless, it's critical to vet any timeshare cancellation lawyer before agreeing to work with them.
Once you locate some good lawyers, consult with them to find the best representative. Follow these four guides to help you narrow down your options:
The most common issues that timeshare lawyers deal with are contracts, HOA dues, and maintenance fees.
Contracts are often complex and confusing, and timeshare lawyers can help explain a contract's terms and conditions to their clients. There are a few states that have specific laws governing timeshare contracts. A trained attorney will understand how to navigate the complexity of timeshare cancellation state-by-state.
HOA dues and maintenance fees can be expensive, and timeshare lawyers can help their clients to negotiate a fair and reasonable payment plan.
Timeshare lawyers can also help owners with various legal issues, including timeshare contracts, cancellations, and fraud. Timeshare lawyers typically have a lot of experience with timeshare law, and they may be able to help timeshare owners resolve their legal issues.
There are many benefits of having a timeshare lawyer, including the following:
There are a few drawbacks to having a timeshare lawyer.
First, they can be expensive. Many timeshare lawyers charge by the hour, so the costs can add up quickly if you have any questions or a complex situation. The average price of hiring a timeshare lawyer is $250-$350 per hour, and the average case takes 10-20 hours to resolve.
Second, not all lawyers may be familiar with the timeshare industry and the unique issues that timeshare owners face. This can be a problem if you have a complicated legal matter that requires specialized knowledge.
There is no foolproof way to avoid being scammed by a timeshare lawyer, but there are certain precautions you can take to minimize your risk. First, do your research and choose a reputable, experienced lawyer who is a member of the American Resort Development Association (ARDA) and/or the Association of Vacation Owners (AVO). Second, get everything in writing and read all the fine print before signing anything.
When hiring a timeshare lawyer, you should be aware of the following red flags:
There is no foolproof way to avoid being scammed by a timeshare lawyer, but there are certain precautions you can take to minimize your risk. First, do your research and choose a reputable, experienced lawyer who is a member of the American Resort Development Association (ARDA) and/or the National Timeshare Owners Association (NTOA). Second, get everything in writing and read all the fine print before signing anything.
Here are a few other items to consider when choosing a timeshare attorney:
If you've ever hired an attorney before, you know how expensive it is. So before hiring anyone, research all the legal fees that will accumulate during your case. This calculation will give you a good idea of whether it's worth the time, money, and energy to pursue an attorney.
Be aware of scams. A so-called "timeshare lawyer" will often lure in clients with free consultations before later hitting them with hidden fees. If the condition of service sounds too good to be true - it likely is.
If you can afford to exit your timeshare, find an experienced attorney with a cancellation history. This step can be challenging because many claim to be timeshare attorneys but lack the right qualifications.
Despite what you hear on the radio or see on tv, very few attorneys specialize in timeshares. Many claiming to be so are struggling businesses looking for new work demographics or outright scams. To ensure you are working with a legitimate lawyer with a verified background in vacation ownership, ask for references from past timeshare clients. If they're successful attorneys in this space, they should have proven success with past clients.
Before hiring a timeshare lawyer, consider your lawyer's transparency. Far too many get pulled in by catchy commercials or billboards but never complete the research to ensure they're working with a legitimate service. Transparency in business equates to trustworthiness.
If a timeshare cancellation attorney cannot disclose the details or strategies they plan to use for your timeshare exit, they may be hiding something from you. Perhaps they are lying about whether they are qualified to carry out your case or, worse, overcharging you. Be sure whoever you hire has your best interests in mind.
The fees of hiring a timeshare lawyer can vary depending on the lawyer and the case. However, some general fees associated with hiring a timeshare lawyer include an initial consultation fee, an hourly rate, and a retainer fee. The initial consultation fee is typically charged by the hour and covers the lawyer's time reviewing the case and meeting with the client.
It depends on your specific situation and the terms of your timeshare contract. If you feel like you were misled or taken advantage of when you purchased your timeshare or have difficulty canceling your contract, a timeshare lawyer may be worth hiring. A lawyer can review your agreement and advise you of your legal options. They can also represent you in court if necessary.
Hiring an attorney is not your only option if you hope to cancel your agreement with the timeshare developer. Several other exit methods don't require legal representation. You may find one of these methods more beneficial for you. Consider the following cancelation methods:
Your first option should be to try and return the property to the original timeshare resort company. While certainly not always the case, sometimes timeshare companies will accept a unit back from you. It will help your case immensely if you have already paid off your timeshare mortgage and are up to date on all your fees.
Often, these resorts claim that the only way for owners to escape their timeshare is by reselling it. Unfortunately, that is much easier said than done. Timeshare resales come at a significant loss. Examine the timeshare resale market before listing your unit to determine whether this is your best option.
Another option some resorts offer is renting out your unit for third-party use. Regrettably, this process rarely lives up to the sales pitch. Many factors go into renting out timeshares, such as location, year, season, and pricing. Be warned, the chances of making enough to cover your annual fees are slim, but it may help alleviate them.
The timeshare exit industry has been leading the charge in cancellations. With this option, you get an entire timeshare exit company to help you end your agreement. These companies are often cheaper than law firms.
The prices for timeshares continue to rise, and therefore, so are the stress levels of buyers. Any timeshare owner looking for a cancellation company should consider Wesley Financial Group, LLC ("WFG").* Since 2011, WFG has canceled over 30,000 timeshares and eliminated hundreds of thousands in timeshare debt.
The exit experts at WFG specialize in helping clients who were lied to during their sales presentations find peace of mind. WFG doesn't just try and resell your timeshare but aims to cancel the financial obligations with the resort outright! While guaranteeing cancellation is nearly impossible, if you pass WFG's qualifications, you will likely see a successful timeshare termination.