Coming to the realization that your timeshare isn’t ideal can be taxing. When the anticipation of timeshare ownership is met by inopportune availability and unexpected expenses, many timeshare owners begin to immediately regret their decision. Something that was once viewed as an escape-haven can easily turn into an unreachable mirage that’s gotten more vague as time has gone by. Once you become conscious of the resort’s disinterest in resolving your issues, it’s easy to turn to timeshare relief companies for direction. While this may seem like the right thing to do, thousands of timeshare owners are misled and once again invest in something that doesn’t provide the return they expected.
Over the years, we’ve talked to a good number of timeshare owners regarding their unfavorable situations. Some aren’t contractually obligated and others have sadly doubled down on their commitment to pay. In the first scenario, our services aren’t needed. In the second, your ability to cancel is slim to none. Whichever category you fall under, we want to help you find the best solution. If you’re unable to determine your need for timeshare contract cancellation services after reading this article, you can always schedule a free consultation to review your situation. If another way out exists, you can bet your bottom dollar we’ll point you in the right direction before proceeding to cancel your agreement.
Do You Need to Know How to Get Out of a Timeshare?
If you’re skeptical of “free consultations” – that’s OK, we totally understand. In order to help you avoid pitfalls and know what to do next, we wanted to highlight certain scenarios that either limit or benefit your situation. If you’ve read this far, then you’re more than likely looking for a way out of your timeshare. Although we’d love to continue telling you about our company values and what we stand for, let’s take a look at some of the situations that eliminate the need for timeshare contract cancellation services.
1. All Parties Are Not in Agreement.
Sometimes, a desire to get rid of a timeshare has nothing to do with the property itself. If there are multiple owners on the contract, there is a possibility that everyone invested won’t agree on what to do with the timeshare. While joint-signing can be financially beneficial, it can also cause a little tension. When other owners seem to always get the best dates, remaining parties normally become frustrated with the expense. This can become even more troubling when the resort is favoring retail reservations, limiting availability altogether.
Similar to banking, if a joint account was being closed, all signers need to be present to sign off. Those looking to waive their obligation have to rely on remaining parties to process the proper documents to transfer ownership. There is always a chance you can persuade each party by executing a quitclaim process. But, agreeing to pay more because another owner wants out isn’t going to be very persuasive. Although they can always add another owner, it doesn’t mean they’ll file the necessary paperwork to help you out.
If they’re unreachable or straight up refuse to cooperate, then it’s probably time to start weighing realistic options. Although canceling the timeshare contract may benefit you, the perpetual agreement you signed isn’t going to work in your favor. Ignoring your requests might be their way of telling you tough luck. These types of situations can get a little complicated when co-owners are married. Unfortunately in our country, a good number of marriages end in divorce. If one party wants to hold on to the property and uphold the other’s responsibility to pay, then the chances of canceling the contract are next to none.
Whatever the conflict is, it’s best to try to be proactive with your booking attempts. This will at least help you get the dates that are ideal for you. If you feel as though other owners are being unfair, then continue voicing your concern. The chances of you working something out are far greater than threatening to pursue timeshare cancellation services.
If negotiating becomes a lost cause then at least get some value out of the timeshare. You can always rent out your weeks or simply pay exchange platforms (Interval international, RCI, etc..) to book your desired dates. If you decide to walk away from the timeshare by refusing to pay then you have to be prepared to face serious repercussions. Late payments can (and in most cases will) lead to negative credit reporting, judgements, 3rd party collections, tax hits on the defaulted amount and even foreclosure. Timeshare ownership isn’t a travel club membership. Legitimate penalties can occur if you let your emotions get the best of you. Either way, an inability to come to an agreement eliminates timeshare contract cancellation from the equation.
2. An Authorized User Cannot Request a Cancellation.
If you are not the person who is financially responsible for the timeshare contract, then you’re legally unable to make any type of cancellation request. You have to understand that the resort is going to do everything they can to make the break difficult for you. This is true even when the owner is physically unable to pursue a resolution with the timeshare company on their own. Situations like these tend to involve authorized users or children of the owners (relatives or those that may eventually inherit the property) that are trying to help the owner get rid of their timeshare expense. It can feel like a hopeless situation for those aware of their fate.
Unless you add yourself to the financial obligation, the timeshare company will balk at your requests. But be careful how you approach this. Adding yourself to the contract can be extremely risky. If you become an owner and you’re unable to find resolve, sell or successfully cancel the timeshare contract then you’re agreeing to the contract terms for good. Evaluate the outcomes before committing to something that may seem necessary or worthwhile.
3. A Pre Existing Litigation Has Occurred.
Upon receiving a qualification form, one of the first things we need to be made aware of are current and previous court proceedings. Some timeshare owners decide to pursue resorts with a hired attorney. Although litigation can be an extremely costly and lengthy process, it is one way to open the door to negotiate a settlement with the timeshare company. A settlement can be reached if the resort finds it in their best interest to find common grounds outside of court as opposed to spending money on a legal battle. At the end of the day, it’s going to take a lot for them to take your claim seriously.
If a settlement is obtained with a legal council, make sure you fully understand what you are agreeing to. In other words, don’t get too excited until you’ve analyzed the offer. Try to identify any waivers that aren’t beneficial to you but favorable to the resort. While hiring legal counsel to file suit may be compelling, a lack of evidence can be damaging. If you don’t win, it will most certainly complicate or limit your options in hiring a legal timeshare termination service.
4. Settlements Can Void Cancellation Efforts.
Many timeshare owners aren’t aware that an attorney doesn’t have to be involved during negotiations with the resort. Sometimes, owners feel as though they have enough leverage to force the resort to settle. Many realize that filing complaints is getting them nowhere and they want to take a more aggressive approach. Others have simply gotten in over their heads. The cost of a timeshare can be unbearable for those that have invested in upgrades to acquire the experience they initially budgeted for. Over time, they realize owning a timeshare isn’t feasible and something needs to get done.
Unfortunately, financial hardships give many owners no choice but to settle. Desperation is a dangerous position to be in. Aside from the timeshare cancellation industry being riddled with predatory agencies, resorts know how to take advantage of vulnerability too. Signing legal waivers on top of your current contract gives the timeshare company all the leverage they need. When you think about it, they’re not really doing you a favor. They’re simply locking you into an additional obligation to pay. If you believe they’re eventually going to let you walk, then you should probably check the terms.
5. The Contract is a “Right to Use” Agreement.
Sometimes, timeshare owners are led to believe they’re stuck in a contract that doesn’t exist. Since the timeshare sale never ends, owners have to be careful not to sign additional agreements that override “Right To Use” contracts. These are paid in full and typically don’t require the user to pay annual maintenance fees, assessment fees and taxes on the property. If you’ve reached this point, there’s really no need for you to pursue timeshare contract cancellation services. A “Right to Use” contract has an expiration date and will eventually dissolve on its own.
6. Timeshare Access through Travel Club Memberships.
When it comes to travel clubs, there is absolutely no real-estate involved. This type of association is a membership agreement that gives members access to discounted travel deals. Travel Club owners are more than likely not obligated to pay mandated annual dues, unlike timeshare owners. Similar to a Right to Use Agreement, you may be led to believe otherwise.
There is no fractional ownership liability, property taxes or special assessment fees when a consumer is invested in a Travel Club. Nonetheless, the consideration of timeshare contract cancellation services isn’t necessary. If a Travel Club user stops paying their required annual renewal, their account will simply be closed. There are no repercussions other than the lost initial investment to join the club.
Interested in Timeshare Contract Cancellation Services?
If none of these scenarios apply to you, then it might be in your best interest to start looking into the benefits of legally exiting your agreement. Although there are other factors that may limit your ability to get out of a timeshare contract, speaking to one of our consultants will provide you with clarity on next steps. While selling can be an enticing option, it’s only a matter of time before you realize resale value doesn’t exist. At the end of the day, we want to make sure timeshare owners are exhausting all of their options before pursuing our services.