If you’ve decided your timeshare has become a burden, you’re not alone. Many people share this feeling. While you may have initially enjoyed some nice vacations, things in your life may have changed and you’re no longer traveling in the same way you used to. With the pandemic, many families find that their financial situation has changed, making it more difficult to afford the costs associated with their timeshare. In addition, rapidly escalating annual maintenance fees can often make a timeshare feel like an albatross.
Whatever your reason for wanting to get rid of your timeshare, you have options. While it may seem like selling your timeshare would be the easiest solution, it’s important to understand that these properties have virtually no resale value. Even if you were able to find someone to buy your timeshare for pennies on the dollar, it most likely wouldn’t allow you to pay off any remaining timeshare mortgage you are carrying. For this reason, it’s best to work with an experienced timeshare exit company to ensure the process is carried out properly.
When choosing a timeshare cancellation company, it’s important to do your research. There are many companies vying for your business, and each one takes a different approach to the process. Choosing the right timeshare exit firm can help you gain the freedom you desire; however, working with the wrong team may cause you to incur additional expenses that increase the financial burdens associated with your timeshare ownership.
Your initial consultation with a timeshare cancellation company is an important meeting. It gives you an opportunity to learn about your options, and it allows you to determine whether they are the right fit to address your unique needs and goals. We recommend that you ask the following questions during your consultation in order to ensure you feel comfortable with their methods before moving forward.
It’s important get a clear understanding of both how much this service will cost you and the way the fees are structured. Some companies charge a one-time upfront fee at the start of your case, while other firms will only take payment after successfully getting you out of your timeshare.
In addition, you should ask about how unexpected additional costs are handled during the process. Will these charges be automatically added to your bill or will the timeshare cancellation company discuss these costs with you before moving forward?
After experiencing the aggravation and financial burdens associated with ongoing timeshare maintenance fees that most likely weren’t clearly explained to you upfront, it’s crucial that you work with an exit company that is completely transparent in what they will charge you for their services.
It’s important to have realistic expectations for how long the exit process will take. While the exact length of time varies based on the specifics of your case, the process typically takes anywhere from six months to over a year to complete. Therefore, patience will be required during this time period.
Be wary of a company that promises to have you out of your timeshare contract within a few days or weeks. In addition, if they provide you with a time estimate before reviewing your contract, it may be a sign that they’re not a reputable company.
Every timeshare contract is unique and therefore, the exit process requires a unique strategy that addresses the specifics of your situation. That being said, there are several different approaches to the process. Two of the most common include:
The answer to this question should be “yes.” If you’re working with a company that is legally and permanently canceling your timeshare contract, you should have no remaining financial obligations once the process has been completed, provided you have continued making your mortgage and maintenance fee payments until the time the contract has officially been canceled.
If you’re going to owe money to the timeshare company after the process is complete, it is likely that the company isn’t legally canceling the contract. Instead, it’s a sign that a resale or foreclosure method is being used, and this may have an ongoing impact to your financial situation.
It’s important to have a clear understanding of what your financial obligations are during the exit process. You should always ask the timeshare cancellation company about this during your consultation. In general, you will be responsible for all monthly mortgage payments and maintenance fees until your timeshare contract is officially canceled. Failure to do so may result in additional fees and potentially have a negative impact on your credit score.
This may be one of the most important questions you ask during your consultation. When handled properly, the process shouldn’t negatively impact your credit score. However, if you fail to stay on top of your payments during the exit process or if you work with a disreputable timeshare cancellation company, it can have devastating consequences on your credit rating which may take years to recover from. Therefore, it’s crucial that you establish your desire for a solution that won’t impact your credit during your initial consultation.
When working with a consultant, it’s important to have a contract detailing the terms of the services being provided as well as the payments expected of you. Always work with a timeshare exit company that is willing to provide a written contract before initiating the cancellation process. Read over the contract carefully and ask any questions regarding clauses that seem unclear to you.
If you’re looking for freedom from the hassles associated with timeshare ownership, we can help. At Timeshare Termination Team, we use an attorney-based process to safely, permanently and legally cancel your timeshare. Our expert advisors will carefully review the terms of your contract to develop a customized exit strategy that addresses your unique circumstances.
We’re the only timeshare cancellation company in the country that offers a You First Approach™ focused on providing you with the insights and information you need to understand your options. You’ll start experiencing the benefits of this approach during your initial consultation, when our expert advisors will take the time necessary to thoroughly review your contact, listen to your concerns and goals, and answer any questions you may have about the process.
We’ve helped thousands of people like you permanently get out of their timeshare. Our attorney-based methodology has resulted in a 100% success rate with our clients. This allows us to offer you a Money-Back Exit Guarantee™ which ensures you’ll receive a full refund if we’re not able to provide you with a legal and permanent exit solution within the time frame established at the start of the process. We include this guaranteed protection in our written contract that we’ll review with you during your consultation.
You don’t have to be saddled with the financial burdens of timeshare ownership any longer. Please contact us today to schedule a free consultation.
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