Many timeshare owners are facing difficult decisions over rising maintenance fees, which seem to be rising at a rather inflated rate.
Often personal circumstances change and this may leave you in a situation where you can no longer either afford or justify the ever increasing annual fees.
But are there any solutions?
Simply walking away isn’t always a viable option – This approach can potentially result in financial liabilities, legal implications and even the threat of court action. At this point most owners just want to be freed of the financial burden of their previous decisions – We must add this isn’t always a result of false promises or dissatisfaction with their ownership but moreover simply a case of life taking a different direction and the need to reprioritise ones outgoings.
If you find yourself in a situation where your partner is deceased, you have retired or been made redundant, you MIGHT have grounds to cancel your contract – In any event whether it is possible to just ‘hand back your ownership’ or (more likely) you need some professional advice from contract litigation experts on the next steps to take, we can offer a comprehensive list of highly qualified, experienced and reputable companies that will guide you through the journey to complete and legal termination of your contract.
A deeded Timeshare is usually in perpetuity, meaning you will be liable for maintenance fees indefinitely and even at the end of your life this responsibility will be passed down to your children to contend with.
Your children could be left with the burden of taking over all the associated and ongoing costs. It is very likely that your family will be pursued for legal costs if they chose not to pay the fees, regardless of if the property is still used or not.
Non deeded Timeshare is usually a points based membership and is a bit more flexible in terms of terminating the agreement, as you don’t physically own an asset and you are only walking away from a membership contract.
However, the resort can (and usually will) still pursue the collection of payments due or seek recompense for loss of income. The unpaid fees are usually sold to debt collection agencies who can be very persistent and unpleasant with the manner in which they attempt to ‘collect’ Their money.
Remember, there is always a possibility of your credit rating being affected. If you are finding yourself in this situation, contact Timeshare Watchdog International.
Get in touch with your questions
Feel free to contact us with and all of your questions and queries or if you would like to share a personal testimonial to the website and Facebook page. We will endeavour to point you in the direction of the most appropriate and professional independent advice in the market place.
Any solutions suggested will be without bias or obligation.
If you want more information about your Timeshare then do not hesitate to contact us!