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Why Is It Hard to Cancel a Timeshare? 

Timeshares are difficult to cancel, and even when you are able to cancel, you may not be able to get out without paying a hefty fee.

Timeshares are hardly ever as lucrative as people hope. Timeshares often get sold under the impression that they’ll make vacationing fun and affordable. However, the truth is, they offer neither vacation options. Therefore, for many, buying a timeshare was considered a mistake.

Now, is it hard to cancel a timeshare? Unfortunately, yes. This article will discuss why it's so hard to cancel an unwanted timeshare and what alternative options you have.

WHY IS IT SO HARD TO CANCEL A TIMESHARE?

Timeshare agreements are infamous for being difficult to escape. Signing on with these resorts comes with tricky stipulations that could hurt your credit score if mismanaged, and they also have limited cooling-off periods. For these two reasons, many disgruntled timeshare owners struggle to find a way out of their initial purchase.

TIMESHARES AGREEMENTS HAVE NO END IN SIGHT

You cannot return a timeshare effortlessly. Timeshare purchases often get written in perpetuity, meaning the owner is indefinitely financially responsible for it. The timeshare developer will often include strict and obscure stipulations that don't make accessible exit opportunities easy.

RESCISSION PERIODS ARE OFTEN VERY SHORT

After purchasing a timeshare, you have minimal time to get a refund. This short cancellation period is called a rescission period. A short rescission period is standard within the timeshare industry. Most states have laws that give timeshare buyers at least a few days to cancel their agreement. Still, canceling a timeshare becomes highly difficult after this window of time passes.

HOW DO YOU CANCEL A TIMESHARE

If you’ve changed your mind about a purchase that is still within the rescission period, canceling the timeshare is easy. You’ll need to write a letter to the timeshare company stating your cancellation intentions and then deliver it before the rescission deadline. Be sure to read your agreement, examine state laws, and follow all their instructions.

TIMESHARE CANCELLATION LETTER

Need help writing your timeshare cancellation letter? Find out how to write a cancellation request here. Also, have a look at a sample timeshare cancellation letter below to help you get started:

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THERE ARE LIMITED CANCELLATION OPTIONS FOR TIMESHARE OWNERS

Other than rescinding your timeshare purchase, there are limited alternatives to evade the tight grip of timeshare resorts. Timeshare agreements typically are designed to snare you for life. 

If you're a timeshare owner desperately looking for a way to escape your timeshare maintenance fees, here are your options:

RENT YOUR TIMESHARE

Renting your timeshare out to other vacation-goers is always an option. Timeshare salespeople even brag about this option to owners. However, owners rarely successfully rent their units out.

SELL YOUR TIMESHARE

The timeshare resale market is full of unhappy owners and real estate agents looking to exit these agreements. Due to the vast amount of vacation properties in the secondary market, they often go for as cheap as a few dollars. So, don't expect to make much when you list your timeshare for sale.

TIMESHARE CANCELLATION COMPANY

The increased number of distressed timeshare owners looking for help paved the way for the birth of the timeshare cancellation industry. But do cancellation companies work? Yes, they can. For many consumers, timeshare exit companies are a saving grace.

CANCEL WITH AN ATTORNEY

If you have remaining balances on your timeshare mortgage payments or annual maintenance fees, you will likely have to work with a timeshare cancellation company or an attorney. Depending on the specific details of your case, this process will last anywhere between a few months and several years. Be aware this option may include additional attorney fees.

CANCEL WITHOUT AN ATTORNEY

Many timeshare cancellation companies operate their practice without the help of an attorney. You may even receive lower cancellation costs and quicker response time without an attorney. Your exit team takes care of everything to get you removed from the timeshare agreement. This process makes for a stress-free exit experience.

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WHAT SHOULD I DO?

Timeshare ownership is a snare for many people. However, if you've already found yourself in an uncomfortable situation with an unwanted timeshare company, you need to find a safe and legal way out. Only work with credible and reliable timeshare cancellation options to ensure you receive the proper exit services.

Wesley Financial Group, LLC* is a perfect example of a reliable timeshare exit company. They have ten years of timeshare cancellation experience. They have a team of timeshare experts who work tirelessly to get good people out of bad situations. They may be able to help you save money. Reach out today to see if you qualify for their timeshare termination services.

Wesley Financial Group, LLC, and its affiliates, successors, or assigns are not lawyers or a law firm and do not engage in the practice of law or provide legal advice or legal representation. All information, software, services, and comments provided on this site are for informational and self-help purposes and not intended to substitute for professional advice, legal or otherwise.

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