Pressured Into Buying A Timeshare You Didn't Want? 4 Steps To Take To Get The Contract Canceled

If you responded to one of those time-share ad's for a free week-end getaway and were pressured into purchasing a timeshare that you really didn't want, don't panic. You still have time to get out of the contract if you act quickly enough. Most timeshare contracts come with a cooling-off period, which gives you a specific amount of time to change your mind, and cancel the contract. However, you can't just call and cancel. You need to follow the guidelines set aside in the contract itself. Failure to follow the guidelines, could leave you holding the bag on a timeshare you don't want. Here are four steps that will help you avoid problems during the cancellation process.

Document the Misrepresentation

If you were pressured into purchasing the timeshare, or information was misrepresented during the presentation, you'll need to document those details. Begin by writing down everything you remember about the presentation, including date, time, location, and person giving the presentation. You should also write down the details surrounding the high-pressure, or the details of any misrepresentation you discovered after signing the contract. You'll need this information when requesting your cancellation.

Put it All in Writing

Once you've documented all the details, you'll need transfer that information into a letter of timeshare cancellation. Write down everything, you outlined in your notes. Be as detailed as you can be. Those details will help you get your contract canceled. After you write the letter, you'll need to provide copies to several different people, and agencies.

First, mail copies of the letter to the owner of the resort, as well as their sales, and service managers. Second, you'll need to provide a copy of the letter to your bank or credit card company, depending on how you paid for your timeshare. Finally, save a copy of the letter for yourself. This will provide you with documentation of the letter, and it will also allow you to make copies for anyone else who will require one. Be sure to mail your letters via registered mail. That way you have a receipt to prove that delivery was made.

Make Follow-Up Calls

After you receive notification that the letters have been delivered, you should call and make contact with the sales manager at the resort. Let them know that you can confirmation that they've received the letter, and ask for a timeline of when you can expect your contract to be canceled. Continue calling once every few days until you're successful in having your timeshare rescinded.

Seek Legal Representation

If you've sent letters, and conducted follow-up calls, to no avail, it's time to seek legal representation. Provide your attorney with a copy of the original contract, as well as a copy of the letter of rescission. Your attorney will be able to handle the process from there.