Four Ways to Cancel Your Timeshare Within 5 Days
As the holidays get closer and closer, you find that you are spending more and more money. It can be difficult to stick to a holiday budget when you have last minute gifts, holiday dinner supplies, and wrapping supplies to purchase. If only you had additional income or could free up some of your money spent on bills. How about that timeshare that you never wanted in the first place and definitely no longer want? You might think that you are stuck with it, but you are not. You have options to get rid of timeshare, maybe even to cancel timeshare within 5 days.
Cancel within the rescission period
This might not be an option for everyone. But, if you have recently signed up for the timeshare, it is possible that you are still in the rescission period. This is a period of time that you are legally allowed to cancel timeshare, without any consequences. You might not even be aware of the rescission period, as it is usually buried deep into the timeshare contract. You can work with a timeshare attorney to see if your timeshare attorney has a rescission period.
Look for signs of wrongdoing
Because the act of selling timeshares is an extremely sales orientated process, you will get a lot of pushy salesmen. In some cases, these salesmen step outside of the legal boundaries in order to make a sale. When you work with a timeshare attorney, they can evaluate the steps of the timeshare purchase. If there were any wrongdoings on the part of the salesperson or the company, you might be able to cancel timeshare within 5 days. Approximately 85% of timeshare buyers regret their purchase, citing money, fear, confusion, intimidation, and distrust as their main reasons.
Consider selling your timeshare
Some timeshare contracts allow you to sell your timeshare, while others do not. You will want to carefully evaluate your contract whether or not you are legally allowed to do this. However, it is also important to clearly market all aspects of the timeshare. In a 2016 survey, 66% of timeshare owners cited too high of maintenance fees as a reason for wanting to get out of their timeshare contract. Nearly half (46%) identified maintenance fees as their most important reason for leaving.
It is important to never advertise free or low maintenance fees if that is not the case. Otherwise, you could get into legal trouble as well. Timeshare companies get away with this fact because they often completely disregard things like the maintenance fees and upkeep charges, rather than lie about them. However, if you carefully go through the timeshare contract, you will find them detailed. When selling a timeshare, always be honest. You might not be able to cancel timeshare within 5 days when being honest, but you can avoid costly lawsuits.
File for bankruptcy
This option might not allow you to cancel timeshare within 5 days, but it can give you some financial hope. Financial hardship is the one reason that people want out of their timeshare. An industry study by EY (Ernst and Young), revealed that 56% of reclaimed timeshares, properties that revert to the developer, stem from foreclosure. Before you lose your timeshare to foreclosure or face damage to your credit with nonpayment, file for bankruptcy.
The holiday season can be very expensive for some families. With holiday gift giving, food costs, and travel costs, you might find it difficult to make ends meet. If you are still paying for that timeshare that you don?t want and will never use, it might be time to figure out how to get rid of it. You have options and it is time to evaluate what those options are.