If you’re asking how to exit my timeshare, then this is the article for you. Here, you’ll learn the things that you need to do if you want to get rid of your timeshare. So you’ve probably come to the realization that money is draining fast from your bank account because of the timeshare fees that you are paying every single month. It’s hard to accept at first that you’ve made a wrong decision but you must do something if you don’t want to lose more money. For your peace of mind, you need to know that there is a way to get rid of your timeshare. Check out the tips below.
Maybe you can still back out
Do you need that there is a short period of time where you can still take back your timeshare purchase? This is known as the recession period. But you need to know that this is only a short period of time. And the length of the recession period differs from state to state. It ranges from two days to up to fifteen days.
You need to check your state to know how long the recession period is. Also, you bought your timeshare outside the U.S., then you need to check the law of that country in terms of the timeshare. If you’re still under the recession period, then you can simply walk away from the timeshare without any consequences. But there are steps you need to take.
Write a letter of cancellation
If you’re still under the recession period and you want to exit your timeshare, then the next thing that you need to do is to write a letter of cancellation. In your letter, you’ll need to state your intention that you want to get rid of your timeshare. A word of advice though, it can be hard to find the mailing address of a resort sometimes. You may need to do some research in order to find it.
Some resorts actually hide their mailing address to make it hard for timeshare holders to cancel their purchase. What you need to know is that you’re legally entitled to knowing the address of the resort. The resort is legally required to provide you with their mailing address and other means to send them the letter. The good news is, some states won’t start the cancellation period until you get the address of the resort and instructions of how to cancel your timeshare.
Make sure that the resort gets your letter
You can’t rest after you’ve mailed your letter. You need to make sure that the resort actually got your letter. Some resorts may pretend that they have lost your letter. This is why it’s advisable that you mail the letter using USPS certified mail. This way, the resort will have to sign as proof that they have received the letter. People asking how to exit my timeshare need to know that they are not trapped. There’s a way for them to get rid of their timeshare.