The only thing easy about this question is the answer. It is not easy to cancel a timeshare contract, especially if you have passed the cooling off period which can be as little as just a few days depending on the laws of the country where you bought your timeshare. The short answer is that you can only really cancel your timeshare if you have valid legal grounds – changing your mind or not being able to afford your credit card payments will not entitle you to cancel your timeshare contract.
Grounds for Cancellation
Before even wasting time and money paying a lawyer, you need to know if you have legitimate reasons for canceling. You will have to prove that you were deliberately and knowingly mis-sold your timeshare and provide evidence. Remember that the only thing to really stand up in court will be the contract, so if it is not written in the contract, it won’t count in your favor. Promises made verbally cannot be proven, unless you have a recording. The most common grounds for cancellation are timeshare resorts that were never built and other such fraudulent circumstances.
Tips That Will Save You Money
Avoid seeking advice from Internet companies who appear to specialize in timeshare cancellation and who advertise on timeshare forums. If they tell you it is easy to get a full refund, then you know they are selling something – usually a big fee and little chance of success.
Contact your timeshare operator if you feel there is some obvious disparity between your contract and the service you have received. Sometimes there are simply ways of sorting out problems that seem unreasonable.
Worst Case Scenario
The best thing you can do if you are in a situation where you cannot cancel your timeshare and really cannot sustain it by yourself is to rent it to family and friends, or see if you can sell it on. It is worth reminding yourself that your economic situation will not always be as it is currently, and one day you might regret selling your timeshare. Just think how much money you will be saving in the future on vacations in the world’s top destinations. Timeshare is a luxury, and one worth fighting for.