With timeshare cancellations, the thing you have to find out before signing the papers on your new worldwide timeshare is the cancellation details. Make a mistake at this time, and you might have a fight on your hands and it could cost you dearly and you don't want to fake your own death as that's against the law!
Usually, timeshare regulations in many countries will follow much the same format so, check the country involved and make certain you are alert to the terms and conditions.
Firstly, a little of where to start before and when you make your purchase. Research is always the real key, so do it thoroughly and remember to use independent legal specialist advice. After the sale, keep any material you were given and make notes about what was said once you can and date it so that you have a record. It is too easy to forget the small things, and notes made just after your meeting can also be used as evidence to back up any subsequent claim you make.
Always, always read the terms and conditions in case your cooling off phase is the only chance you have to cancel. Always make sure you get independent legal counsel before signing anything to ensure your rights are protected.
It may well sound extreme, but usually and if possible, always pay using a credit card. The reason being if you have trouble getting your money back and have proof of cancellation and made a claim within 60 days, the card companies will help you get your money back under sub-sections of the Consumer Credit Act. Some credit card issuers are not as helpful as others; if yours is unhelpful, contact (in the UK) the Financial Ombudsman and they will put your case to the companies on your behalf. That said; try to always pay through a solicitor and not straight to the company. Don't forget that if you have a loan linked to the purchase and you do cancel, you will have to cancel this at the same time.
Typically, you can cancel your membership or purchase of a timeshare within fourteen days of signing. Ensure you do this on paper and send it via tracked and signed for delivery, remembering to keep the proof of the posting. Be sure you include the date and agreement number so there is absolutely no confusion. You can either write a letter or use a pro-forma cancellation notice that should have been given to you on signing. Without this notice, UK law allows a cancellation period of twelve months and two weeks. Should you have paid any monies up front, request this be returned immediately.
If the company are members of the Resort Development Organisation, this operation requires their members to adhere to a specific 'code of ethics'. For instance, a fifteen day cooling off period. So if you are unsure, it is worth registering any complaint with this particular organisation.
Additionally, there are laws in many countries covering distance selling. So, if you purchased your timeshare opportunity over the telephone or at a presentation given at a hotel for example, you might have an extra seven business days in which to cancel.
Once you have cancelled, do not get into any negotiations with the sellers directly, since you may unintentionally affect your rights. Only reply to legal or debtors correspondence and do that promptly and after taking the appropriate advice.
Don' be overwhelmed by threats of court action once you know you are within your rights about a timeshare cancellation, particularly if you were misled to obtain a signature. Such threats are very often just another bluff and misrepresentation is a valid and legal reason to cancel your contract. Contact your local Trading Standards offices if you believe any laws are breached and, if they agree, they should tell you how and who to report information to.
Hang tough and persevere knowing you're in the right. If you choose timeshare companies through proper research, then you shouldn't have problems. Should they be a bad company, there's a very good chance they will just give up!
Usually, timeshare regulations in many countries will follow much the same format so, check the country involved and make certain you are alert to the terms and conditions.
Firstly, a little of where to start before and when you make your purchase. Research is always the real key, so do it thoroughly and remember to use independent legal specialist advice. After the sale, keep any material you were given and make notes about what was said once you can and date it so that you have a record. It is too easy to forget the small things, and notes made just after your meeting can also be used as evidence to back up any subsequent claim you make.
Always, always read the terms and conditions in case your cooling off phase is the only chance you have to cancel. Always make sure you get independent legal counsel before signing anything to ensure your rights are protected.
It may well sound extreme, but usually and if possible, always pay using a credit card. The reason being if you have trouble getting your money back and have proof of cancellation and made a claim within 60 days, the card companies will help you get your money back under sub-sections of the Consumer Credit Act. Some credit card issuers are not as helpful as others; if yours is unhelpful, contact (in the UK) the Financial Ombudsman and they will put your case to the companies on your behalf. That said; try to always pay through a solicitor and not straight to the company. Don't forget that if you have a loan linked to the purchase and you do cancel, you will have to cancel this at the same time.
Typically, you can cancel your membership or purchase of a timeshare within fourteen days of signing. Ensure you do this on paper and send it via tracked and signed for delivery, remembering to keep the proof of the posting. Be sure you include the date and agreement number so there is absolutely no confusion. You can either write a letter or use a pro-forma cancellation notice that should have been given to you on signing. Without this notice, UK law allows a cancellation period of twelve months and two weeks. Should you have paid any monies up front, request this be returned immediately.
If the company are members of the Resort Development Organisation, this operation requires their members to adhere to a specific 'code of ethics'. For instance, a fifteen day cooling off period. So if you are unsure, it is worth registering any complaint with this particular organisation.
Additionally, there are laws in many countries covering distance selling. So, if you purchased your timeshare opportunity over the telephone or at a presentation given at a hotel for example, you might have an extra seven business days in which to cancel.
Once you have cancelled, do not get into any negotiations with the sellers directly, since you may unintentionally affect your rights. Only reply to legal or debtors correspondence and do that promptly and after taking the appropriate advice.
Don' be overwhelmed by threats of court action once you know you are within your rights about a timeshare cancellation, particularly if you were misled to obtain a signature. Such threats are very often just another bluff and misrepresentation is a valid and legal reason to cancel your contract. Contact your local Trading Standards offices if you believe any laws are breached and, if they agree, they should tell you how and who to report information to.
Hang tough and persevere knowing you're in the right. If you choose timeshare companies through proper research, then you shouldn't have problems. Should they be a bad company, there's a very good chance they will just give up!
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