For many globetrotters, owning a timeshare property is bliss. To millions who had been trapped in a highly pressurized salespitch, however, the post-sale regrets can be high. Way before the ink runs dry on a timeshare contract, a new signee scrambles for ways to find the exit point of a deal. High maintenance fees and other expenses, notwithstanding. Being a legally binding document, one will find it more effective to go for a timeshare exit attorney.
First Things First: Rescission Period
Before you go around scrambling to call a highly recommended timeshare exit attorney, it is important to read the rescission clause on your contract. Rescissio period varies from state to state and usually ranges from 3 days to 15 days. Arkansas, for instance, has a stipulated 5-day rescission period. This particular legal clause aims to give consumers some legroom to get out of a rut when the excitement of getting freebies or effects of drinking too much bubbly wears off. Sometimes referred to as “cooling off period”, it gives one a chance to cancel their purchase. If you are having second thoughts right now, cancel it.
But what happens when it’s way beyond stipulated rescission period? There are actually many channels to get rid of your timeshare obligation. You can resell, donate or simply offer as a gift. However, these options possess certain obligations that can add to the burden of an already-frustrated buyer. To ensure a reliable contract cancellation, the assistance of a licensed attorney specializing in timeshare is one’s best bet in getting out of bogus claims or shadowy deals. Some of the common causes post-rescission are:
- Unsuspecting buyers in high-pressure sales environment
- Rushed decision
- Lack of knowledge
- Not doing enough research
- High cost in maintenance, interest payments and other associated costs
- Fraud or scam
The sad thing is that once you sign on the dotted line of a timeshare contract, the agreement is automatically legally binding. The contract has then, become enforceable– unless fraud can be proven. When it comes to a dispute, a legal exit or nullification of a contract, a timeshare lawyer has all the means to get you out of a timeshare agreement unscathed way beyond a stipulated rescission period. These legal specialists do not just have the knowledge and skills to scrutinize your contract, they also have open access to various resources essential in turning a legally-binding contract to your advantage.
Timeshare Exit Attorney Protection
Once a dispute has risen, it is common practice by many timeshare owner to cut off their obligations pending dispute. Developers and/or timeshare management companies will dispatch a slew of debt collectors which can drive one mad. These debt collectors, however, can be denied access with the help of a licensed lawyer via the Fair Debt Collection Practices Act. Instead of directly contacting you, they will now be routed to your timeshare attorney giving you more peace of mind and clearer view on financial obligations. This somehow gives you enough leverage when negotiation takes place.
Such legal representation is even more significant when pursuing litigation. This may be a start for a class action lawsuit, which every timeshare company loathes. Even with the absence of such, the presence of a legal representative will give that sense of security to the owner and a notice to the developer that it’s been “marked”. Reputation, after all, is an essential factor in selling properties like timeshare.
So, when to get a timeshare exit attorney? Do it now. The quickest yet most reliable way of getting a timeshare contract post-rescission is to seek out the legal assistance of a lawyer specialized in this aspect. The idea, however, is to get a licensed one who can guarantee airtight legal protection and a clearer avenue to pursue litigation in certain cases.