What Does it Mean to Cancel a Timeshare?
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The Reality of Timeshare Cancellation:
There’s no shortage of reasons for a consumer to want to exit his or her timeshare obligation. Similarly, there is no shortage of options that present themselves as viable solutions for consumers eager for a way out of their timeshare interest. A quick web search or “cancel my timeshare” or “timeshare cancellation” highlights hundreds of options, provided by countless companies and organizations located all around the country.
“With so many companies offering to ‘cancel’ your timeshare, which one should you choose?”
What does it mean to “cancel” a timeshare?
Indeed, the team here at Finn Law Group would argue that thinking in terms of “cancelling your timeshare” is counterproductive to actually accomplishing your goal. It’s wrong thinking, manufactured by a shadow industry of backdoor dealers who profit from consumers so desperate for relief that they’ll turn to just about anyone.
Let’s take a step back and reframe the matter a little differently.
Rather than asking “how do I cancel my TIMESHARE,” consider asking instead: “How do I get my timeshare CONTRACTS cancelled?” Because, to put it simply, these are two different questions.
- When a consumer signs on the dotted line with a developer, they enter into an agreement that is legally binding. Though they may not like it, they have entered into a contract that is completely enforceable and which will, indeed, be enforced, unless fraud can be proven. It’s a legal question, a legal issue – and so you’ll need a lawyer when it comes time to dispute, exit, or nullify that legal contract after the rescission period has ended.
- Before committing to a timeshare cancellation company, thoroughly research and ask what exactly this company can and will do for you, the client. In practical terms, what are they actually going to do? What are their methods? The vast majority of these internet-facing companies – when they even provide the services they’re advertising – simply interface with the resort or else charge the consumer to list their timeshare unit on a resale site; neither of these methods offers any guarantee of success, and both can easily be done on your own to the same result, without shelling out to a middle man.
- Even redemption companies that have established ties to resort developers can’t genuinely offer a guarantee of success; most of these companies operate by means of informal inventory relationships with resort companies, who buy back bundled interests in bulk. There is never a guarantee that a developer will be willing to take back your interest – depending upon market conditions, your specific interest may not be easily remarketable, and thus offers no value to the developer. And, with all this being said, redemption is still not a genuine cancellation of your timeshare cancellation – you may still well be on the hook for many fees, debts, and interest payments if the deal, such as it is, falls through.
The bottom line is that contract disputes are always a legal issue, so we firmly maintain that you should go to lawyer. A licensed attorney is only beholden to you, his or her client, and not to the interests of a third party or to the resorts themselves. The most important thing is that you’re being taken care of. Just about any licensed, legal professional is a better option than a private company making big claims about cancellation, which so often amount to little more than hot air and hucksterism.
Led by Attorney Michael D. Finn with over 48 years of experience, the Finn Law Group is a consumer protection firm specializing in timeshare law. Our lawyers understand vacation ownership as well as the many pitfalls of the secondary market of timeshare resales. If you feel you have been victimized by a timeshare company, contact our offices for a free consultation.
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“My wife and I very stupidly got shammed into a timeshare in Florida which apparently is quite common. After a lot of researching online on what the heck to do about it after I realized how dumb it was I ran across stories of the resorts suing Michael Finn for how he was winning the cases to get out of them. That was all I needed haha. If these scam artists are suing him that was a darn good sign to me. They told me I had a case and said it could take up to a year or more before it’s finalized. 5 months in and it’s done already easy as pie on my end. The only better option besides hiring Michael Finn to resolve your timeshare case is not getting one to begin with.”
“I interviewed and talked with 3 different law firms about getting out of my timeshare contract. The initial phone consultation was incredibly helpful giving me a good over view of what to expect and cost and all of that. When deciding they were responsive to me but not pushy to hire them (which was my experience with another firm I interviewed). They were not the cheapest option but I felt good going into it. I am very happy with my choice to hire them. Throughout the case my file got transferred to a couple of different people so sometimes it was hard to track who I should e-mail if I had a question, but they were always good about updating me when they had new information or my file was transferred. The case is FINALLY resolved after over a year and a half, which was longer than initially expected but the matter was not urgent. I would definitely recommend.
Timeshare Contract Cancellation Experts
Feeling trapped and overwhelmed by your timeshare obligation? Consulting with a timeshare attorney may be the most viable option for permanent, lasting relief. Don’t fall for scams. Finn Law Group specializes in timeshare law.
Michael D. Finn, Founder
Michael D. Finn is the founder of Finn Law Group and has been a practicing attorney for over 48 years, working on behalf of consumers with real estate, timeshare and fractional ownership issues.
Why Hire An Attorney?
When a consumer signs on the dotted line with a developer, they enter into an agreement that is legally binding. It’s a legal question, a legal issue – and so you’ll need a lawyer when it comes time to dispute, exit, or nullify that legal contract after the rescission period has ended.