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You’re not alone, and many vacationers have been through the same situation.
Timeshare scams in Mexico have become a huge problem, and the number of Mexican timeshare fraud victims has been increasing at an alarming rate.
However, there is always a way of getting out of your timeshare contract, all you have to do is investigate the possibilities to get rid of a timeshare you no longer want in a legal way.
So, How long do I have to rescind my timeshare? Find out the answer to this question by reading this article.
Timeshare scams in Mexico
Due to the magnificence of its beaches and its beautiful locations and surroundings, Mexico is a very touristic country, and because of that, it makes sense to know that it is the second country in the world with more timeshare developers, just after the USA.
From the airport to the streets, timeshare salespeople are everywhere, and anyone could easily become a victim of a timeshare scam while vacationing in Mexico.
There are many timeshare companies that use fraudulent and misleading tactics to sell their units.
Also, because the concept of timeshare already has a bad reputation, they usually claim that they do not really sell timeshares but vacation memberships, which is actually the same.
The complaints about this matter are so many that not even PROFECO (The Mexican Consumer Protection Agency) can take care of all of them.
How long do I have to rescind my timeshare?
Despite what you might be told during timeshare presentations, you will always have a legal right to rescind your timeshare.
Many people are forced to sign away their right to rescind, but this is an illegal practice, and it does not exclude you from your right to cancel.
According to the law in Mexico, you have 5 business days (Monday-Friday) to legally rescind your timeshare contract after you have signed it.
If you decide to cancel the contract within that period, you should notify the resort about your decision as soon as possible.
What if the cancellation period has expired?
In most cases, timeshare fraud victims realize that they have been scammed after the cancellation period has expired.
This does not mean you lost your opportunity to cancel your timeshare, as you still have the possibility to do so.
At Mexican Timeshare Solutions, we have a team of timeshare cancellation professionals who are committed to changing and rectifying this fraudulent industry, one client at a time.
We will work hard to cancel your contract, regardless of whether you purchased your timeshare two days ago or two years ago.
Contact us today for a free consultation and to find out how to cancel your timeshare properly.
To receive more information about how long you have to rescind a timeshare and how to do it, send a WhatsApp to +52 333 239 6589, fill out the form in the contact section, or call us at +1 714 277 3662.
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Timeshare Scams In Mexico vs USA, why are there more situations of fraud in Mexico?
Thanks for this tips. This is what timeshare buyers need. It will be their guide in buying. There are timeshare deals that fall into scams, so it is better to be aware of this matter.
Cuando quise cancelar mi tiempo compartido dentro del plazo de 5 dias, me dijeron que mi deposito no era reembolsable!!! Que estafa!!!
it's so complicated because they dont respect the laws its better not to get into their game!
when we know we've been scammed it's too late, i need some help with that now, please!!
Timeshares are a terrible, terrible idea. My in-laws are in one of those “point” programs. What they don’t tell you is the points depreciate (or the number of points needed inflates) each year. So where you could get a nice 1 week vacation now you can only get a decent two night stay.
I’m not sure if they have found a way to get out of it, either. The contracts are ridiculous and essentially say you must stay with us forever or pay an enormous cancellation fee.
this is only an assumption, because they never give you those days
Gracias por compartir esta informacion, yo compre un tiempo compartido hace unos cuantos meses y quise cancelar casi de inmediato al darme cuenta del error cuando hable con amistades y familiares, pero en el resort me dijeron que ya no podia cancelar, hay manera de cancelarlo aun?
We own with a timeshare company, and while I agree it’s not for everyone, it can be fabulous. This article deals only with the traditional “I buy a portion of a single property” timeshare. Most of the newer timeshares are more like investing in a company and I have options to spend my time at locations owned by my company all over the world, whenever I want, as long as I have the shares to cover it, and all properties are maintained to the same high standard.
I will honestly say it was not the smartest money C and I ever spent, but it’s also a purchase that I do not regret, not even a little bit.
We were approached at the airport by the offer of a cab ride. Tired and confused, we agreed to the "free" cab ride in exchange for a $50 deposit, that would be returned to us, in addition to some free tours, if we attended a 90 minute, no obligation time share presentation at the El Cid Marina Resort. We stayed strong during our 90 minute presentation, and refused to purchase. We asked for our $50 deposit and gifts, and kept getting the runaround. The 90 minute presentation turned into a 3 hour ordeal. We told them that we liked the idea of a timeshare, but that we couldn't afford it. We said that in 5-10 years we would be interested in purchasing. We were told that we could rent out our time share, and that it would cover all of the costs. At the end of 5 years, we would have a timeshare that was mostly paid off, with no out of pocket costs. That was when they asked for a credit card, just to check if we were qualified for the wonderful deal that they were offering us. They returned with a Bank of America credit line that they opened in our name, that would cover the $5,800 dollar deposit.
Then we met with another person who had the papers to sign. We were skeptical because there were no promises in writing regarding the renting of points. On five separate occassions, our time share presenter was brought back into the room to reassure us. Against my better judgement, we eventually signed all of the paper work.
Within an hour of signing, we regretted the agreement. We tried to cancel. However, we were told that while we were free to cancel at anytime, we would lose our $5,800 deposit. "You can cancel in one hour, or you can cancel in one year, but we will keep the deposit", is what we were told. I know that there is a cooling off period in the US, but I was not familiar with Mexican law, which states that you have 5 days to get out of the aggreement, with no financial obligation.
How do I find a reputable company, in dealing with Timeshares? It seems like it is difficult to trust anyone anymore. I appreciate any assistance.
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