Getting Down To Basics with Timeshares

Reasons It’s Smart to Hire a Lawyer to Cancel your Timeshare

To date, almost seven percent of households in the U.S. are hooked up to a particular type of timeshare product and the number says a lot about the popularity for this nature of property ownership. But as expected, majority of those that own one belong to families that earn at least $100,000 in annual income. Well, there are perks of investing in timeshares, especially for people who have the extra money for pay for them. But then again, there are those who eventually realize after paying for several months that they no longer are capable or interested in honoring the responsibility of owning a timeshare. Well, the fact that you’re here means you probably are one of those people who wants a safe and legal way out.

As the financial responsibilities, i.e., interests, maintenance fees, and other costs begin to pile up, you come to the realization that your investment is actually becoming quite overwhelming. So as to finally get yourself from relief from your obligation, you have to consider hiring experienced and knowledgeable timeshare exit attorneys. In this article, let’s discuss the reasons why you should consider hiring one:

1 – The first reason why you need a lawyer is because the laws that apply to timeshare cancellations may vary from one state to another. The problem most people have with their timeshare investments is that they likely may have purchased one in another state different from where they reside. As such, it is very important to hire a lawyer who knows about that particular state’s set of rules governing cancellation of timeshares, more specifically on the rescission period.
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2 – You need someone who can write the best letter for the cancellation of your timeshare contract. It’s quite obvious that whenever you decide to cancel any kind of existing contract, it needs to be done in writing. But the problem is you’re not just writing a typical letter. A lawyer will be the one to assist you in creating an error-free letter and with substance. The most important content in that letter is the cancellation statement, and you can’t mess it up.
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3 – By hiring a lawyer once you decide to get out of your timeshare, you give yourself protection against the harassment from debt collectors. Since pending payments and fees will surely come your way as you attempt to cancel, it’s expected that debt collectors will storm back at you and demand you to pay your obligations; this in turn could cause a lot of stress. But with a lawyer by your side, you can invoke the Fair Debt Collection Practices Act that is designed to protect you from harassment from debt collectors, and once those collectors see that you’ve tapped the services of a legal professional, they most likely will back down.