If your timeshare is costing you more than you feel it’s worth, you might want to consider a timeshare exit. Some timeshare owners looking to get out from under their fees and maintenance costs reconsider when they learn how much timeshare exits cost. Unfortunately, many timeshare cancellation companies often want to collect those fees upfront.
How Much Does it Cost to Exit a Timeshare?
Unfortunately, despite claims to the contrary, there is no such thing as a free timeshare cancellation. However, it is possible to exit your timeshare without taking on the upfront costs all at once.
The cost to exit a timeshare will vary depending on your specific situation. Do your research. A reputable timeshare exit company will have solutions to help you avoid taking on the risk of having to pay large upfront fees and will offer flexible payment plans with No Money Upfront.
We get it. The thought of another monthly payment may not sound all that enticing. However, the payment is usually significantly lower than your current timeshare payment and better than paying timeshare exit expenses all at once or continuing to pay all of the costs associated with your timeshare for the unforeseeable future. And that extra monthly payment is temporary. Once the payment plan is complete, your cash flow will increase again.
Timeshare Exit Myths
There is a lot of misinformation floating around on the internet about how to exit a timeshare. Some of these so-called solutions either don’t work or could get you into more financial trouble than you already are.
Selling Your Timeshare
With all the bad press about timeshares, there are very few buyers and tons of timeshares for sale. Even if you are fortunate enough to sell it, there are some definite disadvantages to this solution. Depending on your original contract, many of the extra perks included with your timeshare are stripped away when sold, making it even harder to sell. Even if you do sell it, your contract may still hold you responsible for the timeshare fees and expenses should the new owner stop paying them
Give it Back to the Timeshare Company
While this sounds simple, it’s not a viable timeshare exit solution. Most timeshare companies know that a certain percentage of timeshare owners will eventually want to get out of their timeshare. For this reason, most contracts do not include a “deed-back” option, and if they do, specific criteria must be met. There may also be fees involved.
All this will do is ruin your credit. A timeshare foreclosure, like a residential foreclosure, has serious financial consequences. The foreclosure will remain on your credit report for seven years. It may also impact your ability to get a mortgage or credit during that period. Existing credit card interest rates may also increase.
Work with Timeshare Exit Professionals
When you’re ready to get rid of your timeshare, working with a reputable timeshare cancellation company is the best solution. Timeshare Legal was founded by Christian Highlander. He has over 20 years of experience and has worked on both sides of the industry. Christian and his team are passionate about providing timeshare exit solutions that have the least possible impact on your credit and financial future.
Timeshare Legal is a professional, full-service timeshare cancellation company. And yes, we can get the timeshare exit process started without all the upfront costs.
Take our online assessment to see if you qualify for a timeshare cancellation, or contact us today to schedule a consultation. Learn how we can help you take the first step toward timeshare cancellation and financial freedom.