If you are unhappy with your timeshare, paying out more than you can afford or not getting the service you paid for, then you’re probably wondering how to cancel your timeshare. You may be concerned about your contract, or suspicious about whether your timeshare is legal in the first place.
There may be untold questions swimming around your mind: how do I get out of my timeshare? How can I claim compensation for my timeshare? Who can help me? All the questions are buzzing around your head at night, and you’re losing sleep.
Skip to section:
- So How Do I Get Out Of My Timeshare?
- What If I Just Can’t Afford My Timeshare Anymore?
- How Much Does It Cost to Cancel Timeshare Contracts?
- How Long Does It Take To Cancel Timeshare?
- How Much Compensation Am I Entitled To?
- Why Are Timeshare Resales So Cheap?
- Should I Sign A New Timeshare Contract?
- Why Work With Our Timeshare Cancellation Team?
The longer it goes on, the more stressed you become. It’s there in the back of your mind all the time. You are angry and upset about being out of pocket, and may be feeling used and cheated. This can really affect your happiness and self esteem. This is no way to live.
You may feel hopelessly as though there’s no way out, but rest assured that this is far from the case. The sooner you deal with your timeshare problems head-on, the sooner you’ll be free of that heavy weight on your shoulders.
So How Do I Get Out Of My Timeshare?
1. Check Your Contract
If you think there may have been some wrongdoing on the part of your timeshare company, then this needs investigating straightaway. Get out your timeshare contract and take a good look. Have you got the whole contract, or does it feel like there are bits missing? Can you spot anything that doesn’t look quite right?
If you can’t see anything amiss, don’t worry. Often, these contracts are full of confusing legal language that is designed to confuse and deter you from investigating further. The best thing to do is to hand your contract over to a timeshare expert who’ll be able to evaluate it in depth.
2. Don’t Tell Your Timeshare Company
Whatever you do, do not alert them that you’re filing a case against them. This will make them initiate intimidation tactics to put you off. They will tell you all sorts of things which may not even be true just to avoid coming under legal scrutiny.
3. Look At The News
There have been countless cases in recent years where even the biggest timeshare companies have been brought to task in the Courts. RCI, Silverpoint, Anfi, and many more have all found themselves subject to negative publicity, forced to hand out timeshare compensation, and thousands of timeshare contracts have been nullified.
By looking at the news, you will learn about what the claimants’ problems were with the timeshare, and what the Courts ruled. This will give you some idea of how your own case stands, and what is likely to happen.
4. Think Back
You’ve looked at the contract and hopefully, by now, have got in touch with a timeshare expert to help you with your case. Now, it is time to think back to when you bought the timeshare. Can you remember the things they told you on the day? Were you put in a high pressure sales environment, enduring a lengthy timeshare presentation followed by an intense grilling by a sales rep? Did they make promises to you that turned out to be untrue.
It is a good idea to take some time to sit and write down everything you can possibly remember about the time when you bought your timeshare. Write as much detail as you can about every aspect of the day. Go through old notes and diaries, if you have them, to help garner as much information as you can.
5. Get Help!
If you haven’t already done so, now is the time. Going it alone is simply not an option. It is important to know timeshare law well in order to mount a case that stands a good chance of success. Unless you are a lawyer yourself, or are prepared to put in many stressful days and late nights learning about it, taking timeshare companies on yourself is not a good strategy.
If you have been considering launching your case against timeshare on your own, it might be because you’re worried about the cost. If you have a successful case, your legal fees will almost certainly be paid as part of the court settlement. If there is even the slightest hint of wrongdoing, then this can be enough to ensure you are not left holding the bill.
We cannot emphasise enough the importance of having experts in timeshare behind you. That is why we do what we do. We want to make sure everybody gets justice, and we’re well aware of how difficult it can be to do so. We have endless experience with these timeshare companies, and know all their tricks and the strategies they use to try and derail compensation cases.
“How do I get out of my timeshare?” is something that those phoning our helpline ask on a daily basis. It’s so sad that so many people have been tricked into purchasing timeshares that didn’t meet their expectations or turn out to be quite what they thought they were being sold.” – www.Timeshare.lawyer TimeshareCompensation.co.uk
What If I Just Can’t Afford My Timeshare Anymore?
At first glance, buying a timeshare might seem like a great idea. Guaranteed access to a luxury property in your favourite destination every year? Yes please! But it’s not as simple as that. As the old adage goes, if it looks too good to be true, it probably is.
Even if the annual maintenance fees were made clear to you when you signed, you may not have been fully prepared for how much they cost you, especially as they start to rise year after year. What’s more, your home situation may have changed, putting you in an even stickier situation. Be assured, you are far from alone. We speak to people all the time who are suffering from stress caused by rising maintenance fees and the unaffordability of their timeshare.
Your first step is to get in touch with their timeshare resort. Though it is very unlikely that they will reduce your payments, you can request a full breakdown of your maintenance fees. This will help you to see exactly where your money is being spent, and give you some idea of how you would like to proceed.
After evaluating the breakdown, if you believe that some of the fees seem out of place, you can query this with your resort – though don’t expect a positive outcome! Alternatively, go ahead with starting the process of extricating yourself from your timeshare contract.
Write to your timeshare resort explaining your financial situation, giving them as much information as necessary so that they are aware of your income versus your outgoings. Explain that this is why you need to leave your timeshare contract. Do not threaten legal action or say anything that may appear aggressive. Though it is unlikely that they will have a positive answer for you, even after seeing a rundown of your finances, getting on the offensive will just make them employ intimidation tactics against you, exacerbating the whole situation.
If the result of the communication ends in refusal from the timeshare company, it will be necessary to now seek legal support. Timeshare resorts are notorious for the tactics they use to keep a firm grip on members, doing everything they can to make it difficult to leave your contract. They need the regular income from your maintenance fees, after all, in order to keep going.
An expert in timeshare law will know the right processes to follow in order to overcome the industry tactics and get you out of your contract. They are able to scour your contract for discrepancies such as illegal clauses, negligence or malpractice, that may lead to not only a successful timeshare exit but also potential compensation.
How Much Does It Cost to Exit A Timeshare Contract?
Timeshare is usually more than just a one-off payment; it can be costly over a long period of time. There are various legal options to consider, such as nullifying the contract, renting it out, or trying to resell your timeshare, but even these can be costly or leave you out of pocket. So how much is too much to pay to get out of timeshare?
Your best course of action when seeking to cancel timeshare is to seek legal advice. However, this may leave you wondering how much cancelling a timeshare contract costs.
Cancelling a timeshare contract is not usually a set price. If a company gives you a set figure as soon as you enquire, you should be wary. Cancelling a timeshare contract is similar, in a way, to the process of selling a house; an estate agent must consider a lot of different factors, such as the property’s size, location, and so on, before a valuation can be ascertained. With timeshare cancellation, there are individual factors that differ from case to case. As such, a figure cannot be ascertained without more information on your specific situation.
Some of these factors include:
- If you were manipulated into buying the timeshare
- How much you still owe on your contract
- How much you have to pay for maintenance fees
- How many points or weeks your contract includes
- If and how your contract failed to live up to expectations
- How your situation has changed since you signed the contract
All of these factors will be taken into account by a timeshare expert in order to fully assess your individual circumstances and see whether you have a case.
Once it has been established that there are discrepancies within your contract and you have a strong case for cancelling your timeshare contract, only then will it be possible to offer you an appropriate price for completing the process of termination.
If you decide to go ahead, the resort can be challenged and you will be rid of your timeshare. In some cases, compensation and/or cost of legal fees will be covered by the timeshare company when they lose the case, and even if not, the price you pay for getting out of your timeshare will save you more in the long run.
If you would like some further advice about the cost of exiting your timeshare contract, or simply wish to find out your rights, then get in touch with the team at Timeshare.lawyer who will be happy to guide you in the right direction.
The legal landscape has shifted dramatically since early 2015, when the Spanish Supreme Court first made its view on ‘in perpetuity’ contracts known. As a result, there’s a growing awareness among the general public of their rights in terms of claiming compensation for mis-sold timeshare products and illegal timeshare contracts. – Belinda Rollins, Timeshare.lawyer
How Long Does It Take To Cancel Timeshare?
This can vary dramatically based on the circumstances of your case.
In the absolute best-case scenario, if you have only just signed your contract, then you may be able to simply write to the timeshare company telling them you have changed your mind and they will be legally obliged to tear up the contract.
However, if you signed your timeshare contract some time ago, you will probably need to seek legal advice.
As we’ve mentioned, it’s certainly worth simply writing to your timeshare company and asking politely to leave your contract. They are likely to refuse, but the fact that you’ve tried on your own will go in your favour should the case proceed legally.
Whatever you do, don’t stop paying your maintenance fees unless you have been expressly told to do so by a timeshare legal expert. Not only will this put you at risk of encountering debt collectors and enforcement action, it could damage your case against the timeshare company.
Getting legal help isn’t a quick fix, but it is the safest and most effective way to cancel timeshare legally and with minimal stress. If you are told by any timeshare legal company that they can get you a result within a short timescale (“We’ll get your timeshare cancelled in 30 days!”) then, again, it’s a case of ‘too good to be true’.
In reality, cancelling a timeshare contract can take some time. Negotiations have to be made between the consumer, their legal representative, and the resort company themselves. Using a legal representative takes the stress off you and means you do not have to go through these processes and negotiations yourself, but still it may take months, if not years, to fully settle a case.
That said, if your legal representative is confident that you have a winning case, the wait will be worthwhile once you are free of your timeshare ownership.
Why Are Timeshare Resales So Cheap?
Leaving a timeshare contract can feel like an insurmountable challenge, which is why some people consider trying to sell timeshare rather than take the legal cancellation route. At first glance, it may seem like reselling timeshare offers an easier solution to taking on the timeshare company in court. However, the truth is that selling a timeshare is not as easy as it sounds.
Timeshare holds no value on the resale market. So if you sell your timeshare, the chances are you will get very little for it. Buyers may find themselves bagging what seems like a bargain, but there is a dark side to the rock bottom prices. There’s a reason why timeshare resales are so cheap.
Due to the increase of supply and lack of demand, there are thousands of timeshares listed for sale, some for as little as £1 on eBay and Gumtree. Very few of these result in a sale, because most people are more than aware that having a timeshare leaves you with more than you bargained for, and not in a good way.
Though you may pay a low price to acquire a second-hand timeshare contract, you must also remember that, once it is yours, you will be responsible for annual maintenance fees which tend to increase every year. This is one of the key reasons people are so keen to get the timeshare off their hands – those maintenance fees can be financially crippling!
It’s also important to remember that timeshare is not, nor ever will be, an investment. Regardless of what you’re told or how it seems, you are simply buying the right to use the timeshare unit for a specific period of time every year. Once you’ve signed the contract, you are bound to it, and it is very difficult to leave.
From the seller’s perspective, the aim of trying to sell your timeshare on the resale market is to get rid of it without any of the hassle involved in gaining a legal exit. But not only can it be almost impossible to sell, but you can find yourself the victim of timeshare resale fraud very easily. These fraudsters will approach you with false promises of selling your timeshare for an upfront fee. More often than not, as soon as this fee is paid, the company disappears, never to be seen again.
Should I Sign A New Timeshare Contract?
In light of so many cases of illegal timeshare contracts coming to court and being won in favour of the claimants, timeshare companies are hard at work trying to cover their backs. One of the main ways that they are using to try and minimise the threat of legal action against them is by issuing new contracts to their members, which override the old, illegal contracts.
These new contracts may now be legal, but in the smallprint, you’ll find that signing it means you are no longer entitled to take legal action for issues in the original contract. You will be newly bound in once more, and it will make it harder to get out of timeshare for a long time.
Read more about new timeshare contracts: Anfi Timeshare Contracts Changed After Raft of Legal Claims
These new contracts may be issued on the guise of ‘new systems’ or an appealing-sounding ‘upgrade’. The new contract may be presented as a great opportunity to improve your timeshare experience. Shockingly, these new fancy offers are little more than a deceptive ruse.
If you have already signed a new contract and your resort is claiming that you waived the rights you were entitled to based on your previous contract, you can ask for a copy of the documents you have signed to ensure they are giving you correct information. However, by signing, you have made it more difficult to cancel your timeshare. You will need to get legal advice as a matter of urgency in order to dispute this situation.
If, however, you are happy with the terms of the new contract and you have no interest in leaving or pursuing a legal claim against your timeshare, then signing a new contract will not be an issue.
Why Work With Our Timeshare Exit Team?
Everybody’s case is different, so there are no hard and fast certainties on how to achieve a timeshare exit. As we have explained above, fees and processes differ from one to the next depending on the situation. Trying to leave timeshare on your own can be confusing, time-consuming, stressful and difficult.
That is why we are here. Our mission is to fully advise you on the best route to take for cancelling your timeshare contract or claiming timeshare compensation that you may be due. Even for those who have already successfully exited their timeshare, we can work with you to reassess the case and see if timeshare compensation should be awarded.
We are not solicitors, but we are specialists in timeshare contracts. We work with a network of trained lawyers, solicitors, barristers and qualified specialists, who we will choose based on your individual circumstances. Our industry knowledge, connections and experience is what allows us to effectively and efficiently exit timeshare for hundreds of unhappy timeshare members every year, and to get them the timeshare compensation that is rightfully theirs.
Because we are not anti-timeshare, but equally not affiliated with any timeshare company or resort, we work completely impartially. We know the tricks and scams often committed by timeshare companies to make it as difficult as possible to exit timeshare, and thus have the skills and experience to overcome these hurdles.
Our entire ethos is built on truth and doing the right thing for our customers, whilst improving the industry with what we do. That is why you can trust Timeshare.lawyer to handle your timeshare exit and get you the compensation you deserve.