According to the ARDA, the average price of a timeshare is around $24,000. That’s a major expense for the average person who falls prey to a timeshare presentation while on vacation.
One of the main reasons for canceling timeshares is the cost involved in these vacation products. Many people find themselves unable to afford the annual fees and high mortgage costs associated with timeshares.
Keep reading for some pointers on how to write a timeshare cancellation letter to help you get out of this situation.
Write a Timeshare Cancellation Letter Promptly
Did you get carried away on your last vacation and sign up for a timeshare agreement? You must think about your decision carefully when you return home.
Most contacts offer a five- to seven-day cooling-off period. During this time, you can cancel your contract without too much hassle.
Make sure you get all your documents through to the timeshare company via certified mail before this timeshare rescission deadline expires.
If you miss this deadline, it’s more difficult to get out of your contract, but it’s still possible. Write your cancellation letter as soon as possible to avoid incurring any more costs.
Be Clear When Writing Your Cancellation Letter
State your wish to cancel very clearly in your letter and mention that you’re not interested in beneficiary transfer, resale, or any other timeshare trade-off.
Use the words ‘Cancel Timeshare’ or ‘Timeshare Cancellation Request’ in the subject line of your letter.
Get straight to the point by stating your intention in the first line of the correspondence, too.
Include All Relevant Details
The person receiving your letter earns their salary by preventing people from canceling their timeshares. They may try all types of delaying tactics.
Leaving out important details when you write your cancellation letter may mean it ends up at the bottom of the pile.
The most important timeshare cancellation letter details include:
- Your name, address, and telephone number
- The name of the timeshare sales office
- Your contract number
- The names on the contract
- Date of purchase
- the amount you paid
- A statement of cancellation
If you’re within the recession period, you should request that they return your deposit to you. Don’t assume they will do this.
Don’t Give Up
You’ll need to summon all your patience during the arduous timeshare cancellation process. Expect delays, excuses, and all manner of complications.
Keep at it by contacting the company regularly to request updates, and don’t let them intimidate you into keeping your timeshare ownership.
If your best efforts fail, you must enlist the help of professional timeshare cancellation services to assist you with your timeshare exit strategy.
Cancel Your Timeshare as Quickly as Possible
Now that you know how to write a timeshare cancellation letter, don’t delay. If you’re already past the rescission period, you’ll need to pay the agreed amount on your timeshare mortgage until you manage to cancel your contract.
If you don’t, it can hurt your credit rating.
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