You already have a growing list of reasons why you want to get out of your timeshare contract, ranging from those escalating maintenance fees to the lack of flexibility that’s tethered you to a fixed-week vacation schedule. Now unprecedented travel restrictions amid COVID-19 are making it even more clear that you need a timeshare exit plan — and you need one ASAP.
With another year of limited travel on the horizon — not to mention unemployment spikes, furloughs and financial anxiety during a long-lasting pandemic — you don’t want to continue wasting money on unused timeshare weeks. But for the double-whammy, keeping that timeshare you can’t even visit at the moment could end up costing you additional fees.
Find out why now is an ideal time to explore timeshare exit solutions and contact us for a free consultation to learn how Timeshare Termination Team can help with your unique situation. Our in-house legal team’s sole focus is timeshare cancellation law, meaning they have extensive experience helping people get out of timeshares legally, providing consumers with timeshare exit solutions.
Committing to an annual vacation may have seemed like a fabulous idea when you first signed up for a timeshare – who doesn’t love a vacation to look forward to each year? But that was pre-pandemic, before the pause button was pushed on global travel. Nearly half of Americans cancelled summer vacations last year; and many could be in a similar position in 2021.
Logistically, you may not be able to get to your timeshare for your annual vacation because of travel restrictions that are in place, whether it be resorts that have shut down or countries that have restricted entry. A year into the pandemic, dozens of countries remain completely closed to visitors or have restrictions, like mandatory quarantines, in place.
Or, on a personal level, traveling may not be something you’re comfortable with for the time being. Some, especially those who are older or have underlying conditions that put them at risk for severe COVID-19 illness, don’t feel comfortable jetsetting until they’ve received both rounds of their vaccines.
We also know it has been an extremely difficult year financially for many people. A vacation might not be in the budget this year. They may have lost their job, or taken a significant hit to their income, and they can just no longer afford to pay for their timeshare. If you find yourself in this situation, you are not alone.
Unfortunately, timeshare models don’t tend to be flexible, and, if you have a fixed-week or a floating-week contract, you’ve probably already lost your unused week in 2020 and might be on track to lose your pre-paid vacation again this year.
If you’ve owned a timeshare for a while, you’ve become accustomed to the hidden fees. But, with less people traveling, some resorts may soon be hitting timeshare owners with “special assessments” to help recover drops in their revenue (timeshare owners traveling to tropical destinations may be familiar with these types of assessment; they often get hit with them to pay for repairs after their properties are damaged by hurricanes).
These special assessments come on top of already high maintenance fees that you’re paying each year. The average cost of annual timeshare maintenance fees is $1,000, a large chunk of money, especially if you’re struggling to keep up with bills during the pandemic and don’t have enough discretionary income to take your vacation.
If your timeshare operates on a points system, you may be able to roll your points into the next year and upgrade your vacation. But, each resort has their own policy as to whether you can bank points, and doing this might come with – you guessed it – even more fees.
Timeshare Termination Team can help you get out of your timeshare before you lose out on any more unused vacations or are blindsided with extra fees caused by the disruption in travel.
Our in-house legal team will carefully review your contract and recommend an effective plan to legally and permanently cancel your contract. The first step is to contact us today to schedule a free consultation.
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