Simple Methods Of Cancelling Your Timeshare
Many times people who have purchased timeshares realize that it is not what they were expecting and would want to terminate their timeshares. Sometimes they sit at a presentation and are duped into signing a contract, not knowing what they are getting into. Since it is a legally bound contract we fall under the wrong impression that it can never be cancelled. Well, the good news is that it is possible to cancel timeshare when there is a breach in the contract by either of the party involved or in case of fraud.
Understanding Your Contract
It is very important for one to read and understand what his contract states before signing it. It is best to read it well before taking any further decisions. The salespersons can be very sly and will stay silent about certain clauses, and may also try hurrying you to sign the contract. Most timeshare contracts come with a retraction period which is also known as the cooling off period. Make sure that it is included in your contract. It is very important as that is the time during which you can cancel a timeshare in case you change your mind.
Writing A Letter
In case you decide to terminate a timeshare, it is important that you write a letter within the cooling off period. Make sure you include your name and address, contract number and the date of cancellation. Then, you can send your letter via email, or certified mail. Also remember to keep a copy of the letter as this can come in handy in the future. It also can act as proof in case you face any resistance from the company.
Call The Timeshare Company
Once the letter is sent you can call and follow up with the timeshare company. In most cases you will find that they would bring a lot of reasons as to why you cannot cancel a timeshare. However, the trick is to stay very firm and state your reasons as to why you need your timeshare contract to be terminated. In most cases, you should receive a response to your request within 30 days. If not, you would need to continue following up with the company.
Contact A Lawyer
In case you receive no response from the timeshare company, it would be best to contact your lawyer and take things the legal way. A timeshare lawyer would guide you through the entire process and help you out of your situation.
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