Last Updated on January 18, 2024 by Umer Malik
Wanting to come out of your timeshare? Are you confused if you are heading in the right direction or not? Well, if all these have been playing on your mind, it’s time you start scrolling down!
Below we have come up with 7 questions and more that will help you know if the cancellation company is worth visiting or not. Plus, you also get insight into the entire process. So, let’s not waste any more time in finding out what questions are that you must enquire about before choosing a cancellation company!
Table of Contents
Why Do You Need a Cancellation Company?
How to get out of Wyndham timeshare, is that what you are looking for answers to? If you’re in absolute agreement with us, find out why you need one!
Let’s just put it bluntly that we aren’t really aware of the all nitty-gritty, are we? So, in this case, we always need experts. And those experts are the cancellation companies that can help you come out of a contract.
A genuine and renowned company will give you the guarantee of getting your money back while canceling, which is the primary concern every new timeshare holder wants to ensure.
Moreover, the company assures you that the resorts do not call you to convince you back to keep the timeshare and kill the cancellation period.
Since you’ll be stuck on a limited time span, you have to be sure you cancel it within that time itself, or else you wouldn’t be getting your money back!
What happens if I cannot cancel my timeshare?
Well, before anyone chooses a timeshare exit company to cancel their contract, one has to make sure that they know what they are getting into. And one of the most important things is this one.
If at all you are not able to cancel your timeshare, you’ll be left with no other option but to sell your timeshare. In this case, there will be low chances of you receiving a good amount of money. However, you will be able to get rid of the burden you’ve been having.
Top 7 Questions To Ask A Timeshare Cancellation Company!
Now that you know the entire details of how must go about the cancellation process or what it is all about let’s check out what are the top questions that you must ask the company you are settling for.
Here are there following questions that you must ask. Let’s check them out:
1. Am I eligible to cancel my timeshare?
Well, this is a pertain question that every timeshare holder asks when thinking about canceling the bad investment that they’ve already made.
And of course, it’s quite understandable and the right question to ask as well. By inquiring about this question, you will be able to understand whether you can cancel your timeshare or not. And that only experts can advise you.
2. Should I sell out my timeshare?
If at all, you’ve been broken the news that you will not be able to cancel your timeshare, you’ll be left with no other option but to sell the timeshare. However, we would suggest keeping your eyes open and understanding whether you have been taken for a ride or not.
3. Will I have to pay my maintenance fees?
If you are eligible enough to cancel your timeshare, then you wouldn’t have to pay the yearly maintenance fees. However, if you are not able to cancel it off, you would have to keep paying out your mortgage and maintenance fees until you sell your timeshare.
4. What will happen to my mortgage?
Well, if you have canceled your timeshare, you would no longer have to pay the mortgage, as there will be no liability on your behalf.
5. Is it possible to give the timeshare back to the resort?
If you are thinking of canceling your timeshare within the recission period, then you would have to give it back to the timeshare company. However, if you have crossed that period, you would have to resell your timeshare. In that case, you can either give it back to the company or sell it to someone else.
6. Why do you mean by the term recission?
You will hear this often when speaking to a cancellation company. The term recession simply means to cancel. When you buy a timeshare, there is a limited time in which you get a chance to cancel the timeshare, and that’s known as the recission period.
7. What documents are required to cancel the timeshare contract?
Ideally, you would have to keep the deed copy and other official docs ready. However, if there is any other document that you would need, the company would definitely let you know.
Final Thoughts
As we come to the end of our blog today, we hope you’ve got the answers to all your questions. So, go ahead and ask these questions to know if the company is good enough to help you out of the cancellation process. Always keep your head on your shoulders as there are plenty around who are scammers.
Apart from this, if you are interested to know more about What Mistakes Should I Avoid When Buying a Timeshare then visit our Lifestyle category.
