Timeshare cancellation results. Can They vary from person to person. Are their different timeshare cancellation results depending on the resort? If your timeshare has a mortgage how is it different than being paid off? Timeshares are a $9.8 billion dollar industry. A would say a good 15% of them wished they never bought the timeshare in the first place. So owners just continue to pay it off not knowing of any alternatives.
Timeshare cancellation results, what are those?
Not every business is the same. While there are thousands of business in the same industry, they offer different services, different prices, and different results. In fact, they can be complete opposites of each other and remain competitors in the same industry. The only industries which may be excluded from this would be highly regulated ones. This would be insurance, stocks, bankruptcies, law in general, medical field, and so on.
Currently the timeshare cancellation industry is not regulated. It most likely will never be regulated. Why? There is not one government agency or law maker who would pass regulation against the hospitality industry and some of the largest and most power hotel and resort companies in the world. It would be agreeing timeshares are scams and then validating a group of companies who assist in timeshare owners cancelling their contracts. That is never going to happen.
So, with every new client we ask them to identify that facts of their situation.
Here are some of these questions:
Did they buy the timeshare?
Have they made any payments?
Did they open a credit card for the down payment?
Have they used their points?
Have they expressed their desire to cancel with the timeshare company?
Did you accept the free gifts they gave you?
Of course, there are different answers to these questions but predominantly they all concluded acceptance of the contract, payment was tendered, and no they have not tried to cancel.
Timeshare cancellation has been a fast-growing industry over the past 13 years. The customers are cornered against large timeshare companies and they see no exit, at least one that is not going to be a painless one.
Our company has developed and is now sharing what our clients desire to a good resolution. If they were not being drained of their money monthly to a mortgage payment they did not want. If they could have the account removed from their credit. If they had someone to assist them in dealing with debt collectors.
They just do not want to do it alone.
The timeshare cancellation process can take a long time. Believe it or not just because the contract says cancelled for usage it does not mean its over with. The debt can be thrown around to debt collectors, and eventually to debt buyers. Sometimes the account is sent to an attorney for foreclosure. These are all standard steps in debt recovery and the timeshare company has the right to pursue these outlets to recover the money. Now, most of us know the process in how each timeshare owner was sold typically is known to be aggressive and borderline illegal but they still were sold at the end of the day.
With the knowledge of what is ahead you must be prepared for it. Knowing their may be debt collectors, or pre-foreclosure warnings, and potential negative marks on credit reports you need to instill resolutions for these. Monitor credit reports, preparing settlement and releases for debt collectors, and put aside filing fee’s for foreclosure defense. Most timeshare cancellation companies will never bring these situations up or advise you to prepare for this. Its to scary for the new client to hear. They want it 100% taken care of and not have to worry. However, you would be a fool to think you are 100% covered. Not even the top law firms in the country will tell you they have you covered 100%.
So, I go back to what our clients consider a win. Not being alone in the time of uncharted territory for most of them. Support and resolutions for their credit reports if accounts turn negative. Negotiations with debt collectors for highly reduced settlements or closure of accounts. Some of the biggest worries are foreclosure. When your timeshare is being reported as a conventional mortgage on your credit report you must wonder why and how is this? Well its not supposed to be and a valid are of attack for us and our clients. Deed in Leu of foreclosure is the goal for those situations.
Now, does anything we just spoke about seems to be an outcome for the cancellation of your timeshare?
We must have a common goal. Sometimes our goal may be unattainable, and we are shocked when reality has a different result. Sometimes the most obvious direction for dispute is not where it originated from but how it is being reported. There are many areas of the whole process of timeshare ownership that are flawed. We uncover them and bring them to light to have the best possible outcome.
Let us know what your hopeful outcome is. We will advise of the length of time, and the possibility of it happening. Our consultations are free, and they do not take too long. After, you will know exactly what the best for you and your family is.