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The timeshare industry has been in the lion’s mouth for the last couple of years, and it has generated lots of controversy and discussions in many forums and blogs on the web.
However, since we’re living in an economic downturn, anyone would expect that the timeshare sales would collapse, but instead, the sales seem to be increasing, but this comes with a trap: timeshare scams are increasing too.
That leads us to the question: then, why keep people investing in timeshares?
Well, the first thing we have to understand is that timeshares are not investments but a purchase that requires lots of expenses a year.
The thing is that the timeshare salespeople use rhetoric as a massive weapon, bombarding the potential victims with lies and practically pushing them into getting a property.
So, for those who already fell for a timeshare scam, you might ask yourselves: How do I cancel a timeshare? Is it a viable option? Find out the answer to those questions by reading the rest of the article.
Cancel a Timeshare: Why is it the best option?
Many owners don’t know how to get rid of their properties, and a big part of them have been trying to do it for years.
They were told that they could rent their units out and even make a profit, or that they could resell the timeshare very easily and for a higher value.
That sounds like a good deal, doesn’t it? But then, if you take a look at eBay, you’ll see several timeshare offers for a buck or even less! That’s because renting or reselling a timeshare is not an easy task at all; in fact, it is almost impossible.
Therefore, the canceling a timeshare becomes the easiest way to dump a property.
Cancelling a Timeshare: The Advantages
There are numerous advantages when you cancel a timeshare. It is not only the easiest way to dump a timeshare but also the most effective solution.
We'll give you ten reasons to think about why to cancel a timeshare is an efficient alternative:
- No more threating calls
- No more maintenance fees
- No more attachments to the company
- No more unnecessary responsibilities
- No more debt
- No more special assessment fees
- No more credit problems
- Freedom to go anywhere
- Financial stability
- Sense of relief
For those reasons, among others, we consider that timeshare cancellation is an efficient alternative.
How do I cancel a timeshare?
Every timeshare contract must mention a rescission period that goes normally from 5 to 10 days, depending on the regulations established at the place where you bought the property.
In Mexico, that rescission period is on a 5-day record, and then you have 5 days to inform the company that you want to cancel the contract.
Nevertheless, in most cases, people look to cancel the timeshare when the cooling-off period has already passed.
In those cases, it is advisable to contact an expert. There are various timeshare cancellation companies that claim to help people who are victims of a timeshare scam, but still, many people don’t trust these companies, which is completely understandable given that the timeshare industry is full of scammers.
That is why it is always important to research a company before making any kind of deal with it. You also have to remember that to cancel a timeshare, you don’t have to pay an upfront fee.
Mexican Timeshare Solutions works on a contingency basis and only collects a fee if the contract is fully cancelled; otherwise, no fee is charged.
Contact MTS for a free consultation and full advice on your timeshare matter. It’s time for you to get away from that contract.
To receive more information about how to cancel your timeshare, send a WhatsApp to +52 1 333 239 6589, fill out the contact or call us at +1 714 277 3662
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It’s sad to say that the timeshare owners wanting to get rid of their properties are very vulnerable to these scams as most of them are desperate already in getting rid of their timeshares.
My husband defaulted on timeshare unfortunately back in 2009. We are now in the position to settle the debt. The timeshare company said it would note our credit report as ZERO balance paid in full. We were told by a builders' mortgage company that even with this verbiage on our credit report we still have to wait 3 years before we would be able to be approved for mortgage because defaulting on a timeshare is the same as a foreclosure. This is the only thing on our credit that is preventing us from building. Is this true?
If you need to sell your timeshare then DO NOT pay any upfront fees to anyone. Any timeshare resale company worth their salt will know how to market the membership and will be quite happy (and make a lot of money) from the sale. Having said this, the only attractive thing about selling your timeshare to someone else will be the price. Its why some timeshares are free. IF you go down the free route, then the company 'selling ' it for you will not work for free, so they will charge a fixed fee for the process. The fee should be charged AFTER the paperwork has been processed.
I need to know if a company that I am considering signing a contract with to help me with a timeshare scam is legitimate. They are requesting money upfront to help me fight a battle to get out of my timeshare contract. They are called Timeshare Answers and the gentleman I spoke with is named Charles Delph. Thank you for any info you can provide me.
I need to know if a company that I am considering signing a contract with to help me with a timeshare scam is legitimate. They are requesting money upfront to help me fight a battle to get out of my timeshare contract. They are called Timeshare Answers and the gentleman I spoke with is named Charles Delph. Thank you for any info you can provide me.
What's worst with these timeshare scams is that they victimized usually those owners who wanted to extract some amount even though they cannot recover the full cost before dumping their timeshare property. So, for some timeshare owners wanting to get rid of their units, beware!
totalmente de acuerdo, ya intente rentar, vender e incluso practicamente regalar mi tiempo compartido y nadie lo quiere ya que es demasiado costoso e implica muchisimos problemas a la larga
no one should continue buying timeshares are a waste of money, with this article can see all that is lost when you have a timeshare
no more pressure, no more do the scammers richer, of course is the best option
Do not understand why people continue to invest in timeshares after knowing that it is so common being scammed. Or they are not aware? Anyway, thanks for the input.
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