A Guide to Writing a Timeshare Rescission Letter
Timeshares are such a waste of money. The reality never lives up to people’s expectations, and the continuous fees are insane. That’s why most people who own a timeshare try to get out of their contracts. If you want to cancel your timeshare, follow this guide to writing a timeshare rescission letter. Writing this letter is the first step in the long, but necessary process of canceling your timeshare.
Find Out if There’s a Grace Period
Timeshare laws vary from state to state. Some states allow you to cancel your timeshare within a specific grace period. If you’re thinking about canceling your timeshare, the first thing you need to do is research your state’s timeshare laws. Is there a grace period in which you can cancel your timeshare without penalty? If so, how long is this period? If you realize you’re within the appropriate timeframe, learn everything you need to know about canceling your timeshare within your state’s grace period.
Consult a Timeshare Exit Company
You should contact a timeshare exit company the minute you decide, “I want to cancel my timeshare.” Whether you’re within the grace period or not, a timeshare exit company will be the ally you need throughout the entire process. If you decide to end your timeshare contract after the grace period, a timeshare exit company will help you write a timeshare rescission letter. They’ll help you determine what you need to include in the letter and how to format things. Below are some key components that everyone should include in a timeshare rescission letter.
Your Personal Information & the Timeshare Company’s Information
You need to ensure that you include your information, as well as the company you’re dealing with. That way, whoever handles the letter will know precisely who they’re dealing with.
Reasons for Canceling
It’s a smart idea to include a brief section on why you decided to cancel your timeshare. Explain why you feel it’s necessary to end your contract and how the company has treated you thus far.
Acknowledge the Grace Period
You must acknowledge the timeshare cancelation grace period in your rescission letter, whether you’re within the appropriate timeframe or not. Ignoring the grace period will only allow the timeshare company to deny your rescission. Acknowledge the grace period and make it clear that you know you have some legal rights when it comes to canceling.
Make Sure to Certify Your Letter
Anyone who cancels their timeshare must send the letter via certified mail. You have to make sure that the timeshare company receives your letter. If you have no record of sending your rescission letter, the company can claim they never received it. Certification is especially important for people who want to cancel within their state’s grace period. If you mail your letter without any sort of confirmation, the company can claim they didn’t receive it until after the grace period expired. This can cause major headaches for everyone involved.