The timeshare business is worth over $8 billion in the US. Unfortunately, not everybody who invests in a timeshare is happy, and getting out of a timeshare agreement is often a hassle. It’s a confusing idea, and the bureaucracy doesn’t make it easier.
If you’re wondering how to cancel a timeshare agreement, you’re not alone. Many people ask this question at some point. Fortunately, some professionals know how to get out of a timeshare, and they’ll be happy to help you.
We’ll give you some tips to help you ditch your timeshare. Read on to learn more.
The Seedy World of Timeshares
The most important thing to know about timeshares is that their business model is often illegal. Many of the sales practices these companies use are against the law. For instance, timeshare salespeople often lie or exaggerate to get people interested in a timeshare.
The Federal Trade Commission considers these practices fraud. The United States government demands truth in advertising. This means that you can’t include anything untrue in your advertising, even if you’re advertising in person.
Keep in mind that truth in advertising law functions in an odd way. If you can’t disprove your claim, you’re not breaking the law. Some companies claim that they never freeze their products. They aren’t breaking the law as long as they keep their product above the legal definition of frozen.
How Cancelation Companies Work
Knowing how timeshares work helps cancelation companies get people out. They bring up the timeshare industry’s less-savory business practices as leverage to get them to cooperate.
You can learn more on lonestartransfer.com. You can go there for timeshare exit lawyers should you need to.
Writing a Letter
The official, legitimate way to cancel a timeshare is to send a cancelation letter. Keep in mind that this won’t be the same as other types of letters. You should type, print, and mail the letter instead of emailing it.
Make it clear that you intend to cancel your timeshare. Include it in the letter’s opening if you can. Your letter should be clear, concise, and assertive, so try to avoid sounding uncertain or nervous.
We’ve mentioned that timeshare companies use shady tactics, but they don’t stop at sales. They’ll use these practices to get you in and keep you in.
Make it clear that you aren’t interested in transferring, switching plans, or anything other than cancelation. They’ll try to sell you on those things.
This is the same reason you should mail the letter. If you email the letter, the company can delete it or claim they never got it. Mail is much easier to track, so you don’t have to worry about this.
How to Cancel a Timeshare
Many of the people who invest in timeshares end up wanting out of the arrangement. Since it’s not easy to cancel a timeshare, we suggest you call a professional.
We’ve discussed timeshare companies and the process of canceling a timeshare. Still, it’s best to ask a qualified timeshare lawyer, just in case. They know how the whole process works and can tell you about things that might apply to your case.
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