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Resign, Cancel Timeshare, or Sell: Your Options For Saying Goodbye to Timeshare

 

If you’re stuck with a timeshare that you don’t want anymore, there are a few options at your disposal for getting rid of it. The three main options are resign, sell, and cancel timeshare, but which is best for you? Below, you’ll find some basic but vital information for each option.

Resign

There are some resorts that will allow you to resign your timeshare contract but are likely to require the payment of a service charge. Other resorts may not offer this, though, especially if your contract is ‘in perpetuity’. However, there are regulations in place that state, if your timeshare was purchased after 1998, ‘in perpetuity’ clauses are illegal and your contract can be voided.

Sell

Ideally, you would sell your timeshare and be done with it. Sadly, though, that’s much easier said than done. Timeshares can be very difficult to sell to other people because they are much more wary of them than they used to be.  A lot of negative press has turned people off. However,  you can always sell your timeshare to SellMyTimeshare.tv. They’re sure to take it off your hands, but you’ll have to discuss your individual situation in order to know for sure.

Cancel/Default

If you think your timeshare fees are unreasonable, you might simply stop paying your annual fees. If so, you will be considered a defaulter. Your case may be passed to a debt collection agency and, for a while, it may be quite unpleasant and threatening.  But, no matter what anybody says, even in a formal letter, bailiffs and debt collectors cannot enter your property or take anything away from you. They may tell you they can, but they absolutely cannot. The only course of action the timeshare company would have is to take you to court. At that point, you will have the chance to fight your case. Defaulting is a very risky idea.