Are you considering cancelling your timeshare membership? Make sure to read this first. Below has all the information you need to know in regards to timeshare cancellation and the potential repercussions you could face if you cancel.
- What Happens If I Cancel?
To begin with, the most important thing to know about timeshare contracts is that they are legally binding contracts that cannot be cancelled once the cooling off period has passed. Regardless of reasons for wanting to cancel a timeshare, it is wise to understand that the contract is legal and must be treated as such. This is the most important point to recognize because once you realize that you cannot cancel your membership, you can start to enjoy your vacations and make the most of your investment. You can also save yourself stress and time by avoiding a potential timeshare cancellation scam company that will try to convince you that a cancellation is possible.
- How Long is The Cooling Off Period?
The cooling off period was designed to protect both timeshare providers and members. It allows owners to have a few days to reassess their timeshare membership commitment, and it also protect timeshare providers from wishy washy clients. In general, the cooling off period typically lasts around 5 to 14 days after the contract was signed. It is important to check the details of your contract carefully to verify the specific dates. After the cooling off period has passed, owners are unable to cancel their membership and the timeshare provider is able to begin officially processing the sale and pay out commissions to sales agents as needed.
- Cooling Off Period Has Passed – Now What?
Have you reviewed your timeshare contract and found out that your cooling off period has passed? Are you wondering what to do next since you were hoping you could cancel? Here are a few suggestions now that you understand that timeshare cancellation is not possible. Instead, why not start planning your next vacation to begin making the most out of your membership? If you purchased a membership with a reputable company such as the Villa Group, you will be pleased to know that you are part of one of the top resorts in Mexico with a variety of beautiful resorts available that you can visit. With properties in Cabo San Lucas, Cancun, Loreto, Puerto Vallarta and Riviera Nayarit, you now have the chance to start making amazing vacation memories at all of these wonderful Villa Group destinations. Another option to make the most of your Villa Group membership is to start banking your timeshare points for future vacations. The Villa Group allows members to save their timeshare points to use in the future, sometimes even up to five years or more. You still have to pay regular maintenance fees, but you can let those points add up until you are ready to have a great vacation getaway at one of the luxurious Villa Group resorts.
- Do Not Use A Timeshare Cancellation Company
Lastly, it is very important to realize that there are fraudulent timeshare cancellation companies out there that try to scam owners into believing they can cancel their contract. Instead of helping you cancel your contract which we know now is not possible, they end up taking money from you and waste your time. Do not work with any timeshare cancellation companies as they are fraudsters and will only add stress and financial havoc to your life.
If your cooling off period has passed, we suggest you make the most of your investment and start enjoying your membership today. With lots of great destinations and beautiful Villa Group resorts to enjoy, we think you will end up valuing and treasuring your timeshare membership and will be pleased to have it for years and years to come.
Related article: Reasons to cancel a Villa del Palmar Timeshare