What You Should Know to Cancel Your Timeshare Contract

Timeshare cancellation is one of the hottest topics among owners. Why does it matter?

Timeshare owners have collectively spent untold amounts in rising maintenance fees, and many have finally reached their breaking point with timeshare ownership and the industry as a whole. A lot of owners have simply outgrown time-sharing or been priced out by fees that climb 5% to 12.5% every year. Time-sharing was a clever idea decades ago, designed to give the average family an affordable way to travel across the United States and abroad. The economics no longer hold up.

The internet changed everything

Travel is cheap now. Booking sites, discount travel clubs, and short-term rentals mean a better stay, in a better location, on the dates you actually want, often for less than a single year of maintenance fees. Owners get less and less use out of their timeshare while the kids grow up, budgets tighten, and fixed incomes set in. Resorts also shifted from weeks to point systems that oversold properties several times over, creating blackout dates and restrictions. And the rare times owners do get the dates they want, they are greeted by owner update meetings, 90-minute presentations, and pressure to upgrade.

Here’s the deal

Owners are fed up with being held hostage by something that was supposed to be relaxing, family oriented, and affordable. On top of that, exit and resale companies have flooded the market, charging owners thousands of dollars for the hope of canceling a contract, often with little to show for it. That leaves owners asking, “Can I cancel a timeshare contract?” and “How can I cancel a timeshare contract?”

But there’s a catch

Many owners have reached out to their resorts to offer the timeshare back, or to sell it back, with no resolution. Resorts are in the business of selling timeshares, not buying them back. Most owners are told flatly that there is no way out and the fees keep rising every year.

There is no resale market

The resale market is essentially worthless. It is full of owners with buyer’s remorse, and timeshares are listed on eBay for as little as a dollar that still cannot find a buyer. Owners who try to rent their week to recover fees end up competing with the resort itself, which rents its unsold inventory online for a fraction of the cost. Some owners simply stop paying and take a brutal hit to their credit. Others keep paying RCI or Interval International (II) on top of every other fee, just to bank time they may never use.

Why hire someone to do what you can do yourself?

Owners have lost thousands listing, advertising, and renting, and paying an attorney $4,000 to $13,000 to cancel a single contract is out of reach for most. The truth the resort will not volunteer: you can cancel the contract yourself. The FTC and the Consumer Financial Protection Bureau have both warned consumers about overpriced timeshare exit scams. You did not need an attorney to buy your timeshare, and you do not need one to cancel it.

The best part

Every timeshare agreement has an escape clause built in, no matter the resort, developer, or contract. The resort will not tell you this, because if owners knew, the line to get out would be longer than the line to get in. Picture a restaurant with a crowd out front demanding refunds. How long would you wait to eat there? Same concept.

Owners are fighting back

More and more owners are pushing back and demanding their freedom from these contracts. The smartest, safest path is to cancel directly with the resort yourself, and our DIY Cancellation Kit gives you the attorney-designed letters and the step-by-step process to do exactly that. In short, you did not need a timeshare attorney to purchase your timeshare, so you do not need one to cancel it either.

Let Our Experience Be Your Guide

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