With timeshare cancellations, the one thing you must find out prior to signing the papers on your new worldwide timeshare is the cancellation details. Make a mistake at this point, and you could have a fight on your hands and it might cost you dearly and you really do not want to fake your own death as that's illegal!
Usually, timeshare regulations in many countries will observe a similar format so, check the country in question and make sure you are alert to the small print.
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 guidance. After the sale, keep any material you had been given and make notes as to what was said once you can and date it so you have a record. It really is too easy to forget the little things, and notes made soon after your meeting may be used as evidence to back up any subsequent claim you make.
Always, always look at the fine print in case your cooling off time is the only chance you have to cancel. Always be certain you get independent legal advice prior to signing anything to make sure your rights are protected.
It might sound extreme, but normally 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 companies will not be 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 by way of a solicitor instead of directly to the company. Don't forget that if there is a loan connected to the purchase and you do cancel, you will have to cancel this as well.
Typically, you are able to cancel your membership or purchase of a timeshare within 14 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. Make sure you include the date and agreement number so there isn't any confusion. You can either write a letter or use a pro-forma cancellation notice that really should have been given to you on signing. Without this notice, UK law allows a cancellation period of one year and two weeks. Should you have paid any monies in advance, demand this be returned immediately.
If the company are members of the Resort Development Organisation, this operation requires their members to comply with a specific 'code of ethics'. For instance, a fifteen day cooling off period. So if you're unsure, it is well worth registering any complaint with this particular organisation.
There are also laws in most 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 additional seven working days in which to cancel.
After you have cancelled, do not enter into any negotiations with the sellers directly, as you may unintentionally affect your rights. Only respond to legal or debtors correspondence and do this promptly and after taking the appropriate advice.
Don' be overwhelmed by threats of court action if you know you are within your rights with regards to a timeshare cancellation, particularly if you were misled to get a signature. Such threats are very often yet another bluff and misrepresentation is a valid and legal reason to terminate your contract. Contact your local Trading Standards offices if you think any laws are breached and, if they agree, they should let you know how and who to report information to.
Hang tough and persevere if you know you are in the right. If you choose timeshare companies through proper research, then you shouldn't have any problems. If they are a bad company, there is a good chance they will just give up!
Usually, timeshare regulations in many countries will observe a similar format so, check the country in question and make sure you are alert to the small print.
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 guidance. After the sale, keep any material you had been given and make notes as to what was said once you can and date it so you have a record. It really is too easy to forget the little things, and notes made soon after your meeting may be used as evidence to back up any subsequent claim you make.
Always, always look at the fine print in case your cooling off time is the only chance you have to cancel. Always be certain you get independent legal advice prior to signing anything to make sure your rights are protected.
It might sound extreme, but normally 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 companies will not be 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 by way of a solicitor instead of directly to the company. Don't forget that if there is a loan connected to the purchase and you do cancel, you will have to cancel this as well.
Typically, you are able to cancel your membership or purchase of a timeshare within 14 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. Make sure you include the date and agreement number so there isn't any confusion. You can either write a letter or use a pro-forma cancellation notice that really should have been given to you on signing. Without this notice, UK law allows a cancellation period of one year and two weeks. Should you have paid any monies in advance, demand this be returned immediately.
If the company are members of the Resort Development Organisation, this operation requires their members to comply with a specific 'code of ethics'. For instance, a fifteen day cooling off period. So if you're unsure, it is well worth registering any complaint with this particular organisation.
There are also laws in most 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 additional seven working days in which to cancel.
After you have cancelled, do not enter into any negotiations with the sellers directly, as you may unintentionally affect your rights. Only respond to legal or debtors correspondence and do this promptly and after taking the appropriate advice.
Don' be overwhelmed by threats of court action if you know you are within your rights with regards to a timeshare cancellation, particularly if you were misled to get a signature. Such threats are very often yet another bluff and misrepresentation is a valid and legal reason to terminate your contract. Contact your local Trading Standards offices if you think any laws are breached and, if they agree, they should let you know how and who to report information to.
Hang tough and persevere if you know you are in the right. If you choose timeshare companies through proper research, then you shouldn't have any problems. If they are a bad company, there is a good chance they will just give up!
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