Consumer protection laws exist to safeguard you against deceitful and unscrupulous business and sales practices, which timeshare representatives typically employ to persuade shoppers to shop within the arrangement. They employ these deceptive schemes to make timeshare look like a lucrative investment that can generate huge returns. If you think you have been deceived into shopping timeshares and want to back out, here is good news: consumer protection laws provide mechanisms for discontented buyers to cancel timeshare legally. These laws accord consumers the discretion to contest the contract due to infringement or violation of consumer rights. The law unequivocally states that if unethical or deceptive practices were applied for financial gain, you have the right to get a fair settlement provided, the claims are justifiable. Here are steps on how you can cancel your timeshare contract legally:
* HAVE AN INSIGHT INTO YOUR OPTIONS
When backing out of a timeshare contract, you have two options cancelling and terminating it. Cancellation happens when you intend to get out of contract by a breach. Cancellation has a similar effect as termination, apart from the fact that you have any unperformed balance and the solution for the violation in the cancelling party’s hands. By law, violation of contract may relieve you from responsibilities under that agreement. Terminations happen when you bring the contract to an end for other reasons other than a violation.
* ACT QUICKLY
If you have recently bought your timeshare, it may still be under a repeal period. During this period, you can cancel the agreement and get your funds back. Once the rescission period lapses, the company might make it difficult for you to cancel the contract by claiming that you perpetually obliged to pay the rising maintenance costs for ownership. However, this should not deter from pushing for contract cancellation as it is still allowed under consumer protection laws.
* FIND A LAWYER OR LAW FIRM THAT FOCUSES ON SUCH CASES
To legally terminate your timeshare contract, look for an attorney or law firm that is well-versed with legal matters about contract cancellation. With the help and advice of a seasoned attorney, you can swiftly and legally end your contract successfully. Contemplate hiring an attorney is your rescission period has lapsed or if the timeshare company is mounting hurdles on your quest to terminate your contract, even if the voiding period is still alive.
* USE A TIMESHARE TERMINATION SERVICE
Although there are millions of licensed lawyers practising worldwide, only a small percentage of them are proficient in timeshare law. Therefore, the most effective way to find attorneys well-versed in timeshare law is through working with a timeshare termination service provider.
CONCLUSION
Although timeshare contracts involve the signing of the legal documents by the involved parties, you can still get out of the contract if you wish. If you entered into a timeshare agreement simply because you were duped into it, you can contest the agreement and get your deposit back. Even if you willingly purchased a timeshare only to realize you made the wrong decision afterwards, you can still cancel your timeshare contract legally if you act swiftly and adhere to the right procedures.