Make sure you really want to cancel your timeshare
One of the first things you should do when you are wanting to cancel your timeshare is make a list of the reasons that has prompted you into thinking about canceling your timeshare. Is one of the reasons you want to cancel the timeshare is it is a costly purchase or you have heard bad things about a timeshare? It is often a normal process to rethink a major purchase, but just remember why you even considered purchasing a timeshare in the first place. If you have bought with a reputable company, your timeshare will offer you and your family fun and excitement at quality resorts. Make sure you really want to cancel before you start the process.
Find reliable sources of information
One place you should beware misinformation is on timeshare forums, because many timeshare forums are fronts for companies who want to take advantage of people considering cancelling their timeshare, charging them high fees for something that either costs very little or is not possible to do. Timeshare forums like to help you with legal advice, which is very high in cost, but they profit from this cost. If you don’t have a breach of contract with your timeshare, then the odds are you will not be able to just cancel the timeshare, just because you want to. Just like you can’t take a dress back to the shop after the cooling off period has passed. The best thing is to contact the timeshare company about your concerns or get legal advice from a timeshare specialists to see if you are eligible for a refund, although refunds are rare.
Do you have legal grounds to cancel your timeshare?
Before spending time and money on trying to cancel your timeshare, make sure you have the legal grounds to cancel. If the timeshare is a complete scam, such as being sold a room at a resort that doesn’t exist or which is not the resort that is mentioned on your contract, then you need to take pictures and collect evidence about this sale, and you may be able to cancel. If you just have the word from the person who sold you the timeshare and there is nothing in your contract, then you don’t have a leg to stand on. You will not be able to cancel your timeshare and you will simply waste your money trying to cancel. Just contact the timeshare provider first and see if they can fix any problems you are having with your timeshare, and if the timeshare provider is not a scam, then they will fix the problems and you won’t have to cancel at all.
A Change of Mind
You can’t just cancel the timeshare for the reason that you have changed your mind, unless you do so within the cooling off period, which varies depending on the country and company you are dealing with. Cancelling the timeshare contract could end up costing you more than it would to simply enjoy the benefits of your timeshare. If you are struggling to pay any maintenance fees, then just rent out the timeshare until you are financially able to pay the fees, and if this doesn’t help, then just sell your timeshare instead of cancelling it.