Understand Your Timeshare Rescission Period

iEditorial Note: These blog posts represent the opinion of DoNotPay’s Writers, but each person’s situation and circumstances vary greatly. As a result, you should make sure to do your own independent research. Because everyone is unique, our self-help tools are never guaranteed to help with any specific situation. DoNotPay is not a law firm and is not licensed to practice law. DoNotPay provides a platform for legal information and self-help.

Take Advantage of Your Timeshare Rescission Period With DoNotPay

Signing up for a timeshare is one of the easiest things you can ever do. On the flip side, getting out of a timeshare is the hardest. The good news is that if you take advantage of the , all your problems will magically disappear, and it 's like you never signed up to begin with.

But what is a rescission period, and how long do you have to cancel a timeshare contract? Even worse, what happens if you miss the window of opportunity to cancel your timeshare purchase using the rescission period? DoNotPay can help make things right.

How Much Time Do You Have to Rescind Your Timeshare?

While you may be riding on a wave of endorphins thinking of how much fun you'll have on your new vacation property, if you think you want out, you need to act quickly. The window to cancel your timeshare purchase is limited.

In fact, Ramsey Solutions reports the rescission period can last from three days to fifteen depending on which state you live in. The average is five days. This means that you have to act swiftly if you want to take advantage of your timeshare cancellation rights.

How Much Does it Cost to Get Out of Timeshare?

If you use your rescission period, then it doesn't cost you a penny. That's the good news. The bad news is that if you miss the rescission period, it 's going to get costly to get rid of your timeshare.

You could potentially end up paying:

  • $500-$2,000 if you deed directly back to the timeshare company
  • $50-$125 if you advertise online to sell
  • $500-$3,000 to use a timeshare transfer company
  • $4,000-$15,000 if you get a lawyer
  • $2,000-$15,000 if you skip the lawyer

How to Exit Your Timeshare By Yourself/On Your Own

Getting out of a timeshare on your own is possible. Here are three ways you can do so.

  1. Take advantage of the timeshare rescission period. This is the only way you'll get out of the timeshare contract without having to spend a ton of money. If you decide to go the old-fashioned route of sending it through the mail, you need to expedite the letter, because if you miss the timeline by even one day, the timeshare company will most likely refuse to rescind your timeshare purchase.
  2. If you miss the rescission period, you can always call up the timeshare company and just be blunt with them. Tell them you want out. You can also send a letter to cancel. The problem with this is that the company will most likely not work with you. They can make the process difficult by either refusing to end the contract or making offers in order to remind you of how great purchasing a timeshare really is in an effort to keep you around longer.
  3. If contacting the timeshare company doesn't work, a third option is to look for inaccuracies in the contract. This can be time-consuming, and you'll have to gather a list of the things you were promised, the things that weren't delivered on, and the little nuanced fees that you weren't told about when you initially signed up. If you can prove this, then most states will allow you to end the contract on the basis that you were misled.

When Getting Out Of Your Timeshare Is Too Much to Deal With On Your Own, Take These Steps

Given that the is over quicker than the honeymoon, you may have missed your window of opportunity to get out of your timeshare. If that's the case, there are some other steps you can take to help end the cycle of fees that comes along with owning a timeshare.

  1. You can always sell your timeshare. This means taking the time, and sometimes extra funds, to advertise. It's not always easy to find a buyer, and you may end up selling for less than you paid since timeshares aren't as popular as they were a few short years ago.
  2. Another option is to use an exit company. They employ lawyers who are familiar with all the terminology in timeshare contracts, and can help you navigate the murky waters of owning a timeshare you no longer want. It's not cheap, however, and you'll have to put in a lot of work on your own as you explain what you were promised, and what the timeshare company forgot to mention when you first signed up.

The problem with all these methods is that they can quickly become costly both in terms of your personal time, and your wallet. But what if there was a better way, like letting DoNotPay deal with the messiness?

DoNotPay Can Help End Your Timeshare Woes

Whether or not you're past your rescission period, DoNotPay can help. If you want to cancel your timeshare agreement but don't know where to start, DoNotPay has you covered. Create your own cancellation letter in 3 easy steps:

  1. Search "Cancel Timeshare Agreement" on DoNotPay.

  2. Tell us about the timeshare company, the contract name and number, the purchase date, and other details of your agreement.

  3. DoNotPay will generate a cancellation request letter on your behalf, leveraging all of the negotiation tactics mentioned above.

Why Use DoNotPay To Solve Your Timeshare Problems Instead of a Timeshare Exit Company?

Timeshare companies have been helping people get out of their unwanted contracts for years, so why go with something new when you can turn to the tried and true? Here are three reasons why DoNotPay can help:

It’s Fast.Why spend long hours on the phone when you can let us handle it for you?
It’s Easy. Forget filling out long, stressful forms. We've got this.
It’s Successful.You want out, and DoNotPay will not stop until you are.

DoNotPay Can Help With Other Timeshares

There is a long list of timeshares out there that you may need help dealing with like Wyndham, Bluegreen, Westgate, Diamond Resorts, and the Holiday Inn Club. DoNotPay has the knowledge to deal with them all. In fact:

  • Whether you live in Alaska or choose to call Florida your home, DoNotPay can cancel a timeshare in any state.
  • DoNotPay can cancel your timeshare just as well, if not better, than a timeshare exit company.

What else can DoNotPay do?

While helping you get out of a or other means is great, DoNotPay is not some one-trick app that can only do one thing. We can also:

Sign up today to learn more about what DoNotPay can do for you.

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