There are many reasons why timeshare owners want to cancel their contracts. There are those who simply could no longer afford the rising timeshare maintenance fees, and other have experienced a change to their personal circumstances or they can no longer travel due to illness.
Although you can save money trying to cancel the contract on your own, you will face many difficulties in trying to learn the legal aspects to canceling your timeshare agreement. If you are to find an exit solution to your timeshare, then it will depend on where and when you signed the purchase and the way it was sold to you.
Another thing you need to determine is if you simply want to relinquish your contract or end it or if you want to be compensated back for the tactics they have used to make your buy it.
There are timeshare law directives in place in most countries to protect the timeshare buyer. However, resorts and sales personnel did not follow these laws. You timeshare agreements and contracts can be nullified using these reasons.
Proving which laws have been broken and which are the breaches of the agreement you have signed is very difficult. Success in your pursuit is dependent on how well your know and understand the laws since each state has its own timeshare and consumer protection laws. States in the US have their own timeshare and consumer protection laws and you can only be successful in your case if you know and understand these laws.
Certain types of people are actually able to give back their timeshares. If you are too ill to travel, over 75 years old, have a husband who is on the ownership contract that has died, or you are too poor to afford the membership fee, then you belong to the group that may be able to give up their ownership or give back their timeshare.
It is important to cancel finances such as loans and mortgages attached to the timeshare if you attempt to cancel your contract directly with the timeshare resort. This means that you need to deal with the finance company directly as well as the resort.
Relevant paperwork and proof of purchase should be ready. These paperwork and the dates that you signed are important so that it matches the laws that you are going to use.
Although this is not impossible, it is not also that easy. If you are unable to do it on your own because of its difficulty, then you should seek professional advice to find the best solution to this problem. It is worth to seek timeshare legal advice. You can find out if your area and jurisdiction are covered and find our your rights under timeshare and consumer protection laws.
Terminating your contact and seeking compensation is possible with the help of a good consultant.