How To Get Out Of A Timeshare Contract

How do you get rid of a timeshare?

The safest, most affordable, and most efficient answer is the one almost no one tells you about: do it yourself. Thousands of owners searching the internet for a way out have found that a do-it-yourself timeshare cancellation is both successful and simple.

It is striking how many companies pour their energy into taking advantage of timeshare owners. Most owners have run into the pie-in-the-sky pitch, where every salesperson promises to fix your problem and swears they are nothing like the last company that let you down. Here is the thing worth sitting with: almost every owner I have spoken to over the years bought their timeshare without hiring anyone. So why hire someone to get out of it?

Why pay someone to get rid of your timeshare?

We rarely give ourselves enough credit to handle our own problems. But ask yourself honestly: why not trust yourself to resolve this? The answer to “how do I get out of my timeshare” is the same as “how did I get into it,” which is on your own.

Of course an exit company or attorney is not going to tell you that you can do it yourself. Telling you the truth would put them out of a job. People have a habit of making things sound harder than they are when they want you to hire them. Think of every time someone told you a task was beyond you, and then you found out it was far simpler than they made it seem.

This is one of those things you can do yourself

You do not need a law degree, you do not need to pass the bar, and you do not need to hire anyone. Canceling a timeshare contract is a process, and once you know the process, you can complete it.

The real cost of owning a timeshare

Most owners get some use out of the timeshare early on to justify the cost. Then come the annual maintenance fees and, in many cases, monthly payments at interest rates that can run from 13% to as high as 22%. A lot of owners could not really afford the timeshare when they bought it, which is exactly why resorts rush buyers into a credit card or financing to cover the down payment and push the deal through. That is also why every state offers a short rescission period (typically 3 to 7 days) to cancel the sale, a window many owners never even knew they had.

There is also a group of long-time owners, people who bought in decades ago when timeshares offered fixed weeks and unit sizes, and traveled the world while their kids were young. Today many are older, on a fixed income, retired, or have lost a spouse, and the timeshare has become a burden their adult children do not want to inherit.

The resort will not volunteer a way out

A salesperson who earns 8% to 18% commission to put you into a contract is not going to call and tell you how to leave it. Once you are locked into a perpetuity contract, owners usually try one of three things, and the first is the worst.

• Sell it to recoup the money. There is no market. Search “timeshares for sale” on eBay and you will see thousands listed for as little as a dollar that still cannot be sold. Most owners lose another $1,000 to $3,000 paying companies to “advertise” a property that will never sell.
• Hire an exit company or attorney. Owners have spent anywhere from $2,000 to $8,000 per contract, sometimes with results, sometimes with nothing to show for it while their credit suffers because they stopped paying fees mid-process.
• Rent it out. You end up competing with the resort, which rents its own inventory online for far less.

The FTC and the Consumer Financial Protection Bureau have both warned about timeshare exit scams for exactly this reason.

It all comes down to this

Remember the search that brought you here: “how to get out of a timeshare.” The answer is to do it yourself, the same way you would handle your own paperwork for many of life’s other big tasks. Our DIY Timeshare Cancellation Kit gives you the attorney-designed letters and the step-by-step process to cancel your contract directly with the resort, with full support along the way. Most owners finish within 60 to 90 days.

Thank you for taking the time to read this. Your time is valuable, so do not let today be another day you could have changed tomorrow.

Let Our Experience Be Your Guide

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Cancel Your Own Timeshare Contract in as short as 60 days with full support throughout the process.