• September
    30
    2020
  • 3 min read

5 Biggest Obstacles For Getting Out Of Your Timeshare

timeshare challenges

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If you aren’t aware yet, getting out of your timeshare is not easy. There are several obstacles in place that will make this a difficult task to complete and the reason for that is because these companies want you to give up and keep paying them. Unfortunately, thousands of people every month sign up for these deals and within a year, many of them will try to get out of their agreement because they realize they were either tricked or not given the deal they were promised. It’s a very frustrating experience but something you’re motivated to take care of to give yourself financial freedom. While there really aren’t any DIY tricks to getting out of these contracts, it’s important to know the obstacles you will be facing as you get started.

Which Company Are You Fighting?

One of the first obstacles you will deal with as you decide that you’re ready to get out of your timeshare agreement is finding the company that actually owns the property. You will call the people you normally speak with and they will tell you that they don’t handle that. Then, you will call the company that you send payments to every month and they will tell you the same thing. This is a labyrinth, designed to frustrate and confuse you so that you give up.

What Do You Owe?

There is a big difference between what you owe and what the agreement is for. These resorts factor in your additional fees and will use that in their argument of why you cannot be released from the agreement.

What Were You Promised?

While things may have been said to you in person to get the agreement signed, it all comes down to what’s in the contract and did the property fulfill their side of the bargain?

You Can’t Foreclose

Because you do not own the actual property you cannot go the foreclosure route. This creates a real issue for people looking to break the contract as they are stuck with no equity or assets in the deal.

Getting The Right Help

You decide that you need professional assistance, and you head to Google to find someone who you can rely on. You see dozens of places that offer their help but you’re not sure which one to trust and go with. Believe it or not, there are a lot of scam companies in the exit-timeshare game as well and many are actually owned by people who own the resorts also.

The best way to find a reliable consumer advocate to help you get out of your contract is to break it down by credibility, content, commitment and experience. If a group has been posting content and information to assist you in this process, they probably are trustworthy. If they have hundreds of reviews of people thanking them for their help and getting them out of the deal, they probably are trustworthy as well. If you do not see any of that, then it’s best to stay away from them and look for a team that you can work with beginning with a free consultation.

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