What You Should Keep in Mind About Timeshare Cancellation Strategies

08/19/2022

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According to Debt.org, a study from the university of central Florida showed that 85% out of 9.6 million Americans who own timeshares regret their purchase. This is often because they pay maintenance fees and are not able to use the property as often as they want to. Using a timeshare exit company can be helpful for knowing the right strategy to use for your situation. It is a waste of your time and money to make high payments on a property you might not have the time for. These are some strategies you can follow to ensure you get your timeshare canceled.

Take Advantage of the Rescission Period

A majority of timeshare purchasers have the right to rescind the contract within a specific amount of time. This is the best time to get out of timeshare agreements because you may not have been legalized to own the property yet. So, if you realized early on that you want to cancel your timeshare, don’t wait until you start paying the fees. Each state has guidelines for what the rescission period entails, so it’s wise to learn about the restrictions where you live. Typically, you have to send a cancellation letter to your company and remember to keep a copy in case they say they did not receive it.

Talking with the Developer

After you have paid for your timeshare in a given place and you want to explore a new place, then talking about your way out with the developer might be a good way to go. The company you are working with might as for a cancellation fee and might try to convince you to stay longer. Therefore, keep your stance and explain to them it does not serve you any longer. Consider contacting a timeshare exit company for further advice and support.

Giving Out

You may consider gifting your timeshare to a loved one or close friend. That way, you can stop paying the fees and your property will go to someone who’ll enjoy it. A timeshare exit company might be able to assist you with transferring ownership, making it a seamless and easy way to get out of a timeshare.

If you are considering canceling your timeshare, it’s important to handle it sooner than later into ownership. For more information on the right timeshare cancellation strategy for you, contact Lonestar Transfer today!

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