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5 Reasons You Need To Get Out Of Your Timeshare

Timeshares and why they don't work

June 7, 2019 – by James Cox

Timeshares and why they don't work

All timeshares are not scams. The timeshare industry generates billions of dollars a year. There must be a reason why this happens. It’s because there are a lot of reputable companies who offer fair deals to their clients. However, there are plenty of companies who do not, and they use the good reputations of their competitors to trick people into deals they soon regret making. There are ways out of these deals but the first thing you have to understand is why you may want to get out of your deal as quickly as possible.

While many timeshare owners believe they are stuck, the reality is that there are ways out. Delaying in taking action is a mistake and it’s time for you to get aggressive with your decision to leave. If you are on the fence about getting out of your deal, you should consider these reasons:

1. Increased costs: You may agree to a set price when you originally sign, but the cost of living and maintaining the home will continue to go up. If you are stuck paying these rates for one to two decades, the costs can go up considerably.

2. New ambitions: While your original motivation to buy the timeshare was because it was located in one of your favorite vacation spots, things have changed, and you are looking to expand your horizons. The most common example is when young parents get places where they want their families to vacation every year, especially with young children. However, now that everyone is older, new destinations become the desire of vacation travel.

3. Loss of value: Another common thing that happens during long-term agreements is that the value of property in the area goes down. This can be caused by several factors, but it happens and that makes it harder for you to rent out your property to others.

4. Damage to credit: If you are struggling to make payments or battling with the company, then you could be looking at damage to your credit. This is why you need to get out as soon as possible.

5. Overall bad deal: The first and main reason people want out of their agreements is because they realize that the company has pulled a scam. They are not delivering on what they promised, and they are the reason timeshares have such a bad name. Obviously, these companies utilize several tricks to get you to fall for these agreements and it’s time to find a way out of it.

Whether you are happy with your timeshare agreement or not, you should always have the option to get out of it. Our job is to make sure that you have that option and we will help you get out of this deal with the help of our experienced legal team.


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