If you’re reading this, chances are you’re searching the Internet trying to find out how to cancel a timeshare contract. Maybe your timeshare was a great way to enjoy a fun and relaxing holiday with your family when the kids were young, but now it’s impossible to get the whole family together at the same time every year. It could be that the resort has exercised it’s right to raise your fees and now there’s no way you can afford to keep it. Or maybe, like me, you’ve found yourself out of work suddenly and shockingly…and the lifestyle you once enjoyed is now a distant memory. Here’s my story of how I found myself drowning in timeshare costs with no lifeboat in sight…until I found out how to cancel a timeshare contract and free myself from the obligations I could no longer afford.
As you probably experienced yourself, I was on a wonderful tropical vacation when I was approached by a handsome, young man in a white polo shirt embroidered with the resort logo. At first, I tried to give him my drink order! I thought that clipboard he was carrying was where he wrote down the names of the many fruity, frozen delights that tourists took pictures of to post on Facebook and tease their friends back home. It was then that he flashed me a shining white smile I found hard to resist, and invited me to a special party to introduce me to the great timeshare investments the hotel had to offer. He reminded me of what a wonderful time I was having, and how fantastic it would be to do this every year. He also told me I was under no obligation… I would just enjoy some gourmet food and drinks and listen to a short presentation about all the amenities and perks that come with timeshare ownership.
As the saying goes, he really saw me coming! I was at the peak of my career and I was very financially solid…or so I thought. The party was amazing! They served all sorts of exotic, delectable treats that I could look forward every year when I returned to my tropical vacation home. Yes, they talked me into it. After all, as they told me, I could always rent it out or resell it for a profit. Real estate was booming back then, and at the time it seemed like a very wise investment. My friends and family would love accompanying me to my sunny resort home. Of course, I had no idea how difficult it would be to cancel a timeshare contract once it was signed, no matter what situation you find yourself in.
Time to Get Out of My Timeshare
Ten years later, I found myself out of work. I searched desperately for employment. Being a woman over 50 who had plenty of experience but a degree that was “outdated” by decades, I was passed over again and again for every job I applied for. My savings was dwindling, and my timeshare contract loomed over my head like a funnel cloud threatening to suck up the dollars I needed just to live day-to-day. There was no way I could afford to go back to that far away paradise. And as I found out, the resort had no interest in renting out my place for me. They had plenty of vacant rooms of their own, which they made a priority. When I called to find out how I could cancel a timeshare contract, they were very rude to me and told me it was a lifetime commitment! I was devastated.
I was told I should try to sell it on Ebay, but when I did a little research into what timeshares were already listed there and saw that they were going for $1 each, with no bids. My heart sank. Doesn’t anybody want a vacation paradise anymore? Is everybody as broke as I am? I decided there wasn’t much sense in wasting time and money listing and re-listing my timeshare that nobody wanted to buy.
Then I found a website that said they would help me “donate” my timeshare. It instructed that I could pay them to take over my timeshare contract, and in turn they would donate it to a non-profit organization. Then I could write the donation off on my taxes. It seemed like a pretty good alternative, although I really didn’t understand how the whole thing worked. What were starving children in Africa going to do with a timeshare? Anyway, further reading informed me that trying to write off a timeshare donation of a few thousand dollars would likely result in trouble with the IRS, since you can only claim the market value of the timeshare…which was essentially nothing because nobody wanted to buy it in the first place. To me, this seemed like a pretty sketchy way to cancel a timeshare contract.
The Legal Way to Cancel a Timeshare Contract
Then I found RedemptionandRelease.com. I did my homework and found they had great reviews all over the Internet, and a very high ranking with the Better Business Bureau. My money was running out, and I needed help fast. So, I made the call. I was so happy and relieved when they told me that my timeshare property was eligible for their program and that for an affordable fee they would take care of everything that needed to be done to cancel my timeshare contract. What a relief! The fee they charged was very fair for the relief they brought me, both financially and emotionally. The process was not only painless, it was a pleasure. I was assigned a special caseworker who was so kind and reassuring, I knew I had made the right choice. They didn’t force me to join a travel club or anything, the way similar companies do. Using their services made it a breeze to cancel my timeshare contract.