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How to get rid of timeshare without ruining credit

กุมภาพันธ์ 4, 2018

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How to get rid of timeshare without ruining credit


Whether you have been forced to sell your timeshare due to financial difficulties or you simply want to move on, you may be wondering how to get rid of timeshare without ruining your credit. There are several options available, but you must first determine the value of your timeshare.

The first thing to do is to check with the resort or developer you have an agreement with. Some of these companies have special rescission programs, including loan deferral, which can help you pay off your maintenance fees without having to sell your timeshare. Another option is to use an attorney to get your agreement canceled. If you have a deeded timeshare, you may face foreclosure, which will negatively impact your credit score.

While the timeshare industry has spent many years trying to delay a cancellation, the law now allows you to cancel a timeshare contract. Generally, you have at least three to fifteen days after signing the contract to cancel. You may also have recourse under state consumer protection laws. Depending on your state, you may be able to get a portion of your money back if you are able to prove that you received a fair offer for your timeshare. Know on how to get rid of timeshare without ruining credit.

You may also have the opportunity to get your timeshare deeded back to the developer, which is a legally acceptable way to get rid of your timeshare. If you have a deeded unit, the process may be a bit different than what you are used to.

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