As more and more people look for ways out of their timeshare properties, the emergence of a new industry materialized. Timeshare cancellation companies have become one of the leading options for a service that is highly sought after by disgruntled timeshare owners. The increased number of unhappy and dissatisfied timeshare customers has shed a light on the deceitful tactics used by many in the timeshare industry.
With so many people feeling lied to and misled into making such consequential purchases by timeshare representatives, the cancellation industry has grown exponentially in recent years. Sometimes referred to as timeshare exit companies, these cancellation companies offer services that will terminate timeshare agreements. With so many feeling helplessly trapped in their timeshare today, the assistance offered by legitimate exit companies is a godsend to timeshare owners.
Since this industry is still new to some extent, there must be thorough research done on these companies. When working with someone to get out of a timeshare agreement, it is critical that they are trustworthy and successful. An example of this would be Wesley Financial Group, LLC which was founded by one of the pioneers of this industry, Chuck McDowell. We will use them as an example later in this article, but you can also find more information on them at their website here.
What Is A Cancellation Company?
To understand what a cancellation company truly does, you need to know what all comes along with a timeshare purchase. These vacation properties are profoundly expensive all on their own, but timeshare owners must also take on the responsibility of maintenance fees every year, whether the timeshare is paid off or not. Paying off a mortgage for one of these units, along with the maintenance fees that never end, is a much more intimidating task than what most are sold on by the salespeople.
A timeshare exit company will offer the necessary assistance to terminate a timeshare agreement and relieve owners of any obligations to mortgage and maintenance payments. A trusted company will provide a team of specialists for every one of their clients. While all cases are different and some can take longer than others, the specialists will see that everything possible is being done to successfully terminate the timeshare.
Why Do You Need A Cancellation Company?
Now that you know exactly what a timeshare cancellation company is, you may be wondering if it could be the right fit for you. There are many reasons timeshare owners may be looking for a way out of their timeshare. From the constantly increasing maintenance fees to the lack of booking availability, or from the unethical upselling to any of the other many lies told during the sales presentation, there are countless reasons to want out.
Unfortunately, canceling a timeshare is not as easy as one would expect. In fact, the only easy way to cancel a timeshare purchase is if you cancel during your rescission period. The rescission time is a cooling-off period that allows you to walk away from your timeshare easily. The problem is the rescission period is typically very short and oftentimes the buyers are left unaware of it.
So if you were deceived by timeshare representatives into your purchase and have missed the rescission period, then a timeshare exit company can step in and make your life much easier. Attempting to cancel your timeshare on your own can be an extremely stressful experience, because the timeshare company will make things as difficult as possible. Working with a team of specialists who are experts in this industry can greatly reduce the weight on your shoulders.
How Do Cancellation Companies Work?
Since timeshare cancellation is relatively new and most people are unaware of it, it is essential to be knowledgeable about the process if you are becoming involved with an exit company. Let’s look at Wesley Financial Group, LLC again as an example. As the longest-standing company of its kind, they have specific qualification criteria that must be met before they will take you on as a client and begin canceling your timeshare. WFG only works with those who are wrongfully misled or pressured into a timeshare.
Once you have qualified, you will then speak with a Vice President about your particular case and they will develop a price for your timeshare cancellation. Next, you will be assigned your case specialists who will be your main point of contact throughout the process. Wesley Financial Group, LLC’s specialists are known to be experts in this industry and will guide you through an easy and stress-free cancellation.
What You Want In A Cancellation Company
When looking for the right cancellation company for you, it is important to research the ins and outs of them to make sure they will offer everything you seek. You do not want to fall for another scam as you did with your timeshare company. A few things to look for when researching these companies are:
If your timeshare exit company has these attributes, they can be trusted and welcomed.
What You Don’t Want In A Cancellation Company
While there are many legitimate cancellation companies to choose from, you should still be careful when choosing yours. There have been several scams in this industry that pose as exit companies and then run off with your money. There are many red flags to watch out for so you don’t fall victim to them:
- Cold calls offering to buy or rent your timeshare
- Asking for an immediate downpayment
- Lack of company information or history
Avoid scams who offer or ask for any of the above, they are not to be trusted and tarnish the reputation of the timeshare cancellation industry.
Wesley Financial Group, LLC
After going through everything that goes into a timeshare cancellation company, Wesley Financial Group, LLC comes out on top as the best option available. They have everything you need when looking to terminate your timeshare, and they have the longest and strongest standing with past clients who speak to their success. If you or anyone you know is looking to start a timeshare termination process, look no further than Wesley Financial Group, LLC. Visit their website for more information.