If you have purchased a timeshare, the chances that you are among the 85% of consumers who have any disagreement or regret regarding your contract are alarming, but not surprisingly high.
Getting Out of Your Timeshare
Unfortunately, this is a very common situation and probably if you are reading this, it is because you have regrets and want to get rid of your timeshare since you have realized that the reality is way different from what was promised during the sales pitch.
From pressure during the presentation to promises and unfulfilled benefits, there are many reasons why you may be reconsidering canceling your timeshare.
What Can I Do to Cancel My Timeshare?
First of all, you have to assess the situation you are in.
Usually, in a Mexican Timeshare, you have 5 days to cancel it or get out of it. However, there are aspects to consider, for instance, for some resorts it maybe 5 business days, 5 regular days, or just weekdays.
If you are within the first 5 days marked in your contract and want to get rid of your timeshare, the first thing you will have to do is write a letter requesting the cancellation of your contract and send it by certified mail.
It is highly recommended to get the advice of an expert when starting the cancellation process, in order to avoid complications that may harm the cancellation of the timeshare. As well as penalties that could compromise your family's assets.
Cancel the Timeshare After 5 Days
The good news is that there is still a lot that can be done as long as you hire a timeshare attorney.
The first thing to do is to get the support of a qualified lawyer on canceling timeshares. The reason this is highly recommended is that most of the resorts and hotels will deny you the cancellation, the resort will argue that the contract specifies that after the first 5 days it is not possible to get rid of a timeshare, however, this is not so. The timeshare lawyer will take you through the cancellation process and will give you all the necessary recommendations and actions to take during the time this process is carried out. If you want to cancel your timeshare legally and in a guaranteed way, Mexican Timeshare Solutions, can help you.
What Should I NOT Do If I Want to Cancel My Timeshare?
Rent Your Timeshare
There are several reasons why this is a bad idea, starting with the fact that sellers usually say that purchasing a timeshare is an excellent business opportunity and that a person can not only get their money back but make a profit as well. Usually, this never happens due to several things such as availability at the resort, clauses in contracts, the struggle of finding potential customers, and in the event that all of the above does not represent a problem, a single bad tenant can cause enough problems that directly affect your pocket.
Donate or Transfer Your Timeshare
Trying this option is probably the biggest waste of time because people might not be as receptive as one expects, since you are not giving away a property, but a contract that represents constant expenses and endless payments that most people are not willing to pay.
Stop Paying Your Timeshare
Definitely the worst option of all. Suddenly stopping paying your maintenance fees and without any legal process to support you is the worst thing you can do. If you do this, the only reaction we can expect from the resort is to take legal action against you, and now they have a valid reason (provided by you) to proceed and ultimately collect, not just what you already owe them, but will also add penalties for breach of contract, loss of benefits, among other things.
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About the author
Valentina specializes in helping people who have been burned by timeshare scams and seeking an exit. It's a common situation to get stuck in, and having an advocate who knows the industry inside-out can make all the difference.