Timeshare may be a widespread holiday solution, but it’s not as perfect as many were expecting when they signed their timeshare contracts. With chain hotels as the preferred accommodation option when traveling, allowing travelers the choice of a desired destination, people seem to be losing timeshare interest.
If we add the changes happening in the global hospitality industry, more and more timeshare owners are looking for timeshare cancellation services. Before starting the timeshare cancellation process, learn more about what it entails and what to expect.
What Is Timeshare Cancellation?
It is a process of ending your timeshare ownership and terminating the lifetime commitment. Timeshares can be financially straining and a huge investment which is usually why owners decide to cancel their contracts.
Cancellation without a penalty is possible only during the rescission period. As time passes, finding the right option is more challenging. But no need to worry, we always have a solution.
How Does Cancellation Work?
When purchasing a timeshare, owners don’t usually think about canceling the timeshare. But over time, they may decide it’s not the right investment option. There are two ways the timeshare can be canceled.
Rescinding the Purchase
Owners are offered a rescission period during which they can decide to change their mind, cancel and get a full refund. This is usually done within 3 to 10 days after signing the contract, but be sure to check as every state has different laws on rescinding.
Study the agreement in detail to follow the rescind process by the book. It usually involves writing a cancellation letter and ensuring the company receives it.
Use of Timeshare Cancellation Services
Once the rescission period has passed, canceling the timeshare contract gets a bit more challenging, but it is not impossible. Seeking timeshare cancellation services is a way to get out of your agreement permanently and legally.
The timeshare cancellation company will facilitate the process by offering you advice and solutions on how to exit the timeshare contract legally. You will be informed of every step, be aware of everything that is going on, and at what stage the cancellation process is in.
How Much Does it Cost?
When it comes to costs, it always depends on what the entire cancellation process will entail. Every timeshare owner has a unique situation that may increase or decrease the cost.
Some have multiple timeshares, which doesn’t always mean double the cost.
For those who decide to exit their timeshare contract, it’s best to schedule a consultation and find out the cancellation fees for their specific case.
How Long Is The Process?
Again, it all depends on what is included in the timeshare contract. The average time to complete the cancellation process is from a few months to a year, or even more. The reason is that the whole process entails a lot of negotiation before the cancellation decision is reached.
Why Are Timeshares Difficult to Cancel?
It all comes down to profit. Timeshare companies depend on annual maintenance fees as regular revenue. Giving up on stable and regular cash inflow is difficult, which is why timeshares are so complicated to get out of.
Lonestar Transfer: Legal Timeshare Cancellation Services
As a company, Lonestar Transfer doesn’t give promises we cannot honor. While many timeshare cancellation companies make big promises, we stand behind every service we offer. We provide successful solutions with timeshare mortgage cancellation and timeshare transfer. We guarantee our services in writing and if we don’t deliver, you get your money back, 100%.
Schedule a free consultation to find out what your timeshare cancellation process will entail.
We’re looking forward to hearing from you!