Do I Qualify to Cancel My Timeshare?

Timeshare Cancellation News

August 11th, 2009

Due to the tightening economy and recent news concerning timeshare developers going bankrupt, timeshare owners are looking for any reason possible to get out of their timeshare contract(s). I want to give you a realistic view from someone who is in the business of canceling timeshares.There are many timeshare assistance companies that claim they will get you out of your timeshare contract no matter how long you have been in it. All you have to do is pay anywhere from $500.00 to $2500.00 and they “guarantee” to get you out. I wish that was really the case. In order to get out of a timeshare contract, you have to prove that there was misrepresentation, fraud, coercion, or some type of misinformation. That part is pretty simple. The following are reasons that can justify a reason for cancellation:

1. Not informing the customer that they have the right to cancel within the states/country rescission period.
2. Not conducting a proper sales presentation, i.e. not showing you the models, not gifting you at the end of the presentation.
3. Using misleading information to get you to make a decision. Telling you that you will earn a certain amount of cash $$ for your rental, giving tax advice, or that the timeshare is an investment and you can make money when you go to sell it.
4. Not showing and disclosing the Public Offering Statement.
5. Using coercion as a sales tactic. Keeping you on the tour for an extended period of time without letting you leave with your gifts. Some will not sign your hotel voucher, while others will not give you the cash or other gifts that you were guaranteed prior to the tour.
6. Not conducting a proper closing of the timeshare contract and other documents.
7. If the sales rep misrepresents themselves, like stating they do not get paid a commission and are only there to ensure you get the proper information. They normally will state that you are not on a sales presentation. This is more for existing owners.
8. Making any promises other than what is in writing to get you to buy.
9. Making bribes of any type to get you to buy.
10. Giving false information on pricing, financing, maintenance fees, and exchanges.

This is not an all inclusive list, but just 10 of many. Here is the other piece of the puzzle. You need to make these issues known and make formal complaints in a reasonable amount of time. I will tell you that if you are over 6 months, it is difficult to cancel, but depending on the reason(s) it definitely can be done. If you are over a year, you better have a rock solid case, and there are few. You might be able to get the contract canceled but you will not recoup all your money. Anything over 2 years is a waste of time. Now, there may be the exception to the rule. but normally you have used the timeshare, and have made numerous payments. It is almost impossible to prove any type of fraud, misrepresentation, or coercion that far out. Think about it. If you purchased a used car from a slick, smooth talking salesman and you try to go back two years later, you are going to get laughed at. Additionally, no judge in this country is going to allow that to come across their bench.

I genuinely feel for anyone who has been a victim to anything other than legitimate sales practices, but that does not give you a reason to cancel after a reasonable period of time. After two years, you have to make a decision to either keep it and learn how to make it work; stop paying and let it go into foreclosure; or find someone to buy it. The last option is the least likely to happen.

Again, I want to help anyone who has been a victim. The bottom line is that if you have owned for over a year and have not brought the issue up to the timeshare company or any other agency, you really do not have a chance of winning your claim. If you do, you are the exception and not the rule. Please, do not fall for the scams of companies telling you that they specialize in anyone in this range. The facts are the facts.

If you have any questions visit Timeshare Advocacy International for more information. I still will answer any questions from those who are over a year from purchase, but I will most likely not take your case.

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