When it comes to timeshare developers, Mexico comes second in the world for the most timeshare companies offering vacation club membership and timeshares, with the highest concentration of timeshare developers in destinations like Puerto Vallarta, Riviera Nayarit, Nuevo Vallarta, Cancun, Riviera Maya, Cozumel, Los Cabos and Mazatlan. The reason that these destinations are so popular is that they offer so many temptations and benefits that it is really hard not to see the advantages of buying a timeshare.
However, what happens if you wish to cancel your timeshare if you change your mind? Is it possible to cancel? Is it possible to cancel a timeshare directly with the resort or do you need a timeshare lawyer to help you?
Just like any purchase, you have consumer rights when trying to cancel a timeshare. In Mexico, timeshare companies and consumers are protected by a rescission period, sometimes known as the cooling off period. The rescission period helps both the consumer and the timeshare company, as you are more likely to purchase following your excitement if you know that you can change your mind later. Read on to find out more about the rescission period.
Is it possible to cancel a timeshare directly with the resort?
Once you have agreed to purchase a timeshare and have signed the contract, you can still cancel your timeshare within a certain period of time known as the rescission period. You should find out how long this period is from the resort where you have purchased your timeshare. If you cancel a timeshare directly with the resort during this time, your timeshare contract will be canceled and you will not be penalized.
Phone the resort first when as soon as you know you want to cancel a timeshare directly with the resort. You may find that once you have spoken to someone about your doubts, you won’t wish to cancel your timeshare. However, if you are sure you want to cancel a timeshare, then you should follow the correct procedures, which involve sending notice of your cancellation in writing to the timeshare company directly.
How to cancel a timeshare when my rescission period has expired?
After the rescission period has passed, you have no legal grounds for canceling your timeshare. There are many fraudulent companies who claim they are timeshare lawyers who can do this on your behalf, but the truth is that you cannot cancel a timeshare directly with the resort or otherwise after the rescission period has ended. Some companies claim to specialize in timeshare cancellations with teams of “professionals” who are on hand to deal with such cases of timeshare cancellation. Many offer free consultations at first before hitting you with the fee.
Why do people keep falling for timeshare cancellation scams?
People continue to fall for timeshare cancellation scams because the companies are so charming and offer you the impossible. They tell you what you want to hear and offer you a seemingly great service. By all accounts after you have paid their hefty fees, it seems that your timeshare has indeed been cancelled, when in reality you have simply begun to default on any loan payments you are contracted to make. Remember, you cannot cancel a timeshare after the rescission period has passed; anyone that tells you they can cancel your timeshare contract legally is being economical with the truth.