More than £8 million was lost in just a seven-month period by timeshare owners who had fallen victim to fraudulent timeshare cancellation, or exit companies. That’s according to UK Action Fraud, the UK’s national fraud and cyber crime reporting centre. So how to cancel timeshare contract when you need too?
There are many reasons people opt to cancel their timeshare, from no longer being able to keep up with the fees, to ill health preventing travel. Unfortunately, many timeshare exit companies who offer to help end up being a scam, costing people more money than if they had worked directly with their timeshare company. You should refer to a legit timeshare cancellation consultant in times like this. You may question, Is Wesley Financial Group legitimate? Yes they are, and with decades of experience in the timeshare cancellation industry, they had successfully eliminated the timeshare debt of their clients.
If you are wondering how timeshare exit companies work, are interested in timeshare cancellation, or are tempted to utilise the services of a timeshare exit company then read on. Below we answer some of the most frequently asked questions about timeshare cancellation, and how to avoid falling victim to exit timeshare scams.
What is a timeshare exit company?
Timeshare exit companies purport to help timeshare owners get out of their timeshare contracts by offering a timeshare cancellation service. While some will successfully help timeshare owners exit their timeshare contracts, it often means owners paying a higher fee than if they had simply worked directly with their timeshare operator.
Are timeshare companies legitimate?
Unfortunately, not all timeshare cancellation companies are legitimate and may end up costing timeshare owners more money in the long run. Rogue timeshare exit companies use tactics to entice timeshare owners to use their services, including aggressively pushing their timeshare cancellation services, spreading misinformation on timeshare exit, and even using scare tactics.
How can I be certain the timeshare exit company is not a scam?
If you are tempted to use a timeshare exit company, then there are a few things you should look out for to ensure the company you want to work with is not a timeshare exit scam.
One of the major timeshare exit scams is misrepresentation. For example, scam timeshare cancellation companies have been known to tell consumers that a fictitious class action is taking place and they need to sign-up, wrongly stating that no timeshare companies allow owners to exit contracts, and telling timeshare owners that their direct family members will be forced to inherit their timeshare.
Another red flag to be aware of is upfront fees, as well as companies that do not allow you to pay by credit card.
Many people utilise the services of a timeshare cancellation company after they are cold-called by one. No reputable company will cold call, and often, the very act of cold calling is a breach of data protection laws.
Can I get out of a timeshare without using a timeshare cancellation company?
Yes, you often can get out of a timeshare without using a timeshare exit company. Many timeshare companies offer in-house exit solutions and are happy to work with owners to help them find a safe, secure, and responsible way to exit their timeshare. Always check directly with your timeshare company first.
If you are tempted by a company’s timeshare cancellation service, your best bet is to get a contract in writing from them. You should also ask them to confirm in writing if they have a record of, or have been connected to, exit scams. Additionally, an organisation such as Timeshare Exit Concerns, which manages the Trading Standards approved Timeshare Task Force, or a professional timeshare solicitor will be able to advise you accordingly and give you information about how to spot a timeshare cancellation scam
If you want to cancel your timeshare, then always speak directly to your timeshare company first.