Much like fish, shiny things mesmerize us and tend to draw our attention toward something little better than biting a hook. Not all that glitters is gold. In fact, a lot of things in shiny wrappers are playing to the human penchant for latching on to superficial glam.

Cleverly disguised, these golden gifts come with unseemly trappings, fine print, quid pro quos, and flat-out fraud. That you get stuck with. A costly price for what seemed so lovely in the packaging. Timeshare sales are one of the biggest culprits of deceptive, high-pressure sales tactics, and you definitely don’t want to get caught on the lure.

In the United States, timeshare owners are an average age of 46.8 years old, but many of these owners will be on the hook for the rest of their life. There is currently a class action lawsuit claiming that timeshare sales target unwitting elderly people, creating financially impossible situations constituting elder abuse. It’s certainly not a secret that many companies selling timeshares are looking for your cash by netting you in a seemingly inescapable trap of paperwork underneath the allure of a “vacation home”.

To avoid the trap, here’s what to look out for to keep you from falling victim to the bait.

Urgency is fishy
Don’t fall for an urgently advertised prize. It’s a vindictive tactic that buyers fall for because the sense of urgency rushes them into making rash decisions. If a timeshare salesperson is rushing you into investing and promising some type of additional gift for quick action (car, TV, vacation package, you name it), it’s very likely that they’re hiding other monsters beneath the surface to pull you under.

Is it really worth it?
Because of aggressive sales techniques, people fall for timeshare purchases that are supposed to save them money, but end up being just as expensive, if not more expensive, than traditional vacation costs. Add in the contract you’ve signed and your hasilty purchased timeshare will be a recurring expense that’s difficult to get out of.

Timeshare lawyers
These professionals are deft at cutting through everything from timeshare valuation, how to cancel timeshares, and getting out of timeshare contracts. Ideally, timeshare lawyers won’t be necessary, but thousands of people fall victim every day and having legal professionals on your side to help sift through timeshare tangles will help you out in the long run and short run.

Timeshare lawyers will always encourage wariness before committing to a purchase, but it’s important to note that not all timeshares are fraught with scammery. Feel free to explore options, but be careful out there. Given the track record that timeshares have in first entrancing then ensnaring unaware buyers, reading the fine print, not falling for aggro sales pitches, and trusting the expertise of a lawyer will all help keep your head above water before it’s too late.

There are approximately 1,547 timeshare resorts throughout the nation, tempting Americans to “invest” their hard-earned money into a vacation home that ends up becoming more of a burden than a respite. As many people learn too late, timeshares are notoriously a lot easier to buy than they are to sell or cancel. Unfortunately, timeshare contracts don’t offer many protections for consumers. If you’ve realized you made a big mistake by purchasing a timeshare, there may be ways to pursue timeshare cancellation.

If you act quickly, you can take advantage of the timeshare rescission period
In the U.S., there are laws to protect you in the immediate aftermath of your timeshare purchase. If you realize right away that you want to learn how to rid of a timeshare, there are ways to do so. However, you have to make that decision before the contract becomes legally binding. Each state has its own maximum time limit in which it will allow a purchaser to cancel their timeshare. In some states, you may have only three days to a week to make this decision and file a complaint or write a cancellation letter. In some cases, you may have to provide evidence that a timeshare salesperson was aggressive or that you signed the contract under duress. To ensure you have everything you need included in your letter or filing and that it’s received within the time regulations for your state, you should contact a timeshare lawyer.

Knowing how to get rid of a timeshare after the grace period ends is trickier
If the rescission period has passed, don’t lose hope. In many cases, there are legal tactics that can help you cancel your timeshare. If you want to know how to get rid of a timeshare after the grace period has ended, you should examine your contract for signs of fraud. Your timeshare attorney can be of great assistance here. For example, if the timeshare company outright lied about your interest rates, fees, or how frequently you can use the property, this misrepresentation can be grounds to get out of the contract.

But in many cases, there’s nothing legally amiss in the timeshare contract. Although you may regret your purchase, there’s no lawful reason for the timeshare company to be held accountable. These companies know a lot of people experience buyers’ remorse after their timeshare purchase and therefore make it extremely hard to get in contact with them. This is really when you need an attorney’s assistance. Your attorney may be able to help cancel your timeshare agreement, even after the rescission period has ended. While it’s certainly more complicated, it can be done. But because this area of law is confusing, you should contact a qualified legal team.

Need to know more about how to get rid of a timeshare? We’re here to help you. Get in touch with us today for more information.

How to cancel my timeshare? It’s a common question for people who want to cancel a timeshare contract. Your timeshare contract should clearly mention stating the number of days you have before you can cancel the contract. If it is not mentioned or you think there is something wrong with the contract then you should get yourself acquainted with laws of timeshare. You should make sure that you cancel your timeshare contract in writing. The following things should be mentioned in your letter of cancellation:

• your name as it appears on the contract
• your address, phone number, and email address
• the name of the timeshare company or association
• a description of the timeshare
• the date you purchased the timeshare, and
• a statement that you are rescinding the contract

Make sure after the cancellation letter is written, you deliver it properly. Either you deliver it hand to hand, as it would be safer, else you can deliver the letter through the mail which is a certified or a registered one. Always keep a copy of the cancellation letter with you. You should make sure that your letter has been delivered within the time frame of the cancellation. If you fail to include the correct information or to deliver the letter in the manner specified in the contract, then your cancellation may be considered to be invalid by the owner of the property.

In particular states and in some situations you are allowed to cancel your timeshare contract after the rescission period has passed. Usually, however, this will entail bringing a lawsuit against the timeshare company. You should contact a timeshare lawyer for advice.

At first blush, buying a timeshare might seem like a great idea. But even though timeshare sales have been around in the U.S. since the late 1960s, their historic significance doesn’t mean they’re a good financial move. In today’s post, we’ll break down exactly why timeshares are a poor economic decision — and why hiring a timeshare lawyer is often necessary.

You’ll never make money off a timeshare. In fact, you’re bound to lose money
One of the most important things to understand about timeshares is that they are not like regular real estate. With a home, your investment can increase in value over time. But a timeshare is a lot like a car; it depreciates in value as soon as you purchase it. Timeshare resales are never profitable. Actually, you’ll probably find it impossible to even break even. Not only can you not rent out your timeshare when you aren’t using it (like you could with a vacation rental), but experts estimate that timeshares lose 40-75% of their value after purchasing. On top of that, you’ll have to pay significant maintenance fees every year. Ultimately, that translates into lost money with no real way to recoup value.

You’d be much better off renting or booking a hotel
Part of the timeshare allure is the opportunity to have access to a vacation property without the costs and commitment associated with it. But when you actually break down how much you’d pay for a timeshare versus other vacation options, you might be surprised to learn just how bad of a financial choice timeshares are. Even if your timeshare cost only $10,000 upfront and had a $700 annual maintenance fee, you’d end up paying $17,000 over the course of a decade. Now, consider that timeshare owners can stay at the property for only one week out of the year (typically, seven days and six nights). That equates to 60 nights total over 10 years, costing $283 per night. That’s probably more than you’d expect to pay to stay in a nice hotel room in the same location. In fact, you could probably afford 100 nights of stays for the same or less money than you’d pay to stay in a timeshare.

While you may think owning the property for a week is somehow economically better than staying in a hotel, you’ll actually get a lot less for your money. For most people, owning a timeshare is actually a real detriment to their finances. Although we usually say it’s better to own than to rent, in this case, it’s simply not true. You’d get far more for your money by choosing a different way to vacation.

Once they’re in, everyone is looking to get out
It’s no surprise, then, that people who choose to buy a timeshare will later realize their mistake. Not surprisingly, most people find the financial strain of a timeshare to be unsustainable. In fact, 56% of reclaimed timeshares (which are properties that return to the developer) are linked to foreclosure. To make matters worse, more and more timeshare owners are younger — and are therefore less economically secure and experienced — than they used to be; the industry was initially geared towards seniors, but now, the median age of recent timeshare buyers is only 39. In addition, these owners are more ethnically diverse than in the past, as 34% of owners are either Asian American or African American. And considering that the median income of these buyers is $81,311, it’s likely that they may not have the finances to support the cost of a timeshare (which can be anywhere from $20,000 to $40,000 for just one week’s use).

But most people need help getting rid of a timeshare
Although it’s best to avoid buying a timeshare altogether, there may be ways to free yourself from this agreement. Timeshare cancellation law is extremely complicated. That’s why so many people enlist help from a timeshare lawyer. A timeshare lawyer can help you navigate the process and get your life back on track. For more information about how our timeshare lawyers may be able to help you, contact us today.

Timeshares are a controversial topic. Some see this $70 billion industry as a great way to improve their ability to travel, others believe them a scam to pray off the ignorant. But like most things, there is no real true answer.

While there is a lot about time shares that might make people queasy, the truth is for some people, times shares are the right choice. For those people, they know the risks and the financial burdens that come as a result of timeshare ownership. They understand what to expect.

Unfortunately, many people who purchase timeshares do so with unrealistic expectations or a poor understanding of what owning a timeshare really means.

This five-minute guide is designed by our timeshare attorneys to point out some of the very common misconceptions about time shares that can lead people astray.

1. Myth: Most People Are Happy With Their Timeshare 
   While the timeshare salespeople are skilled at creating a rosy picture of the benefits of timeshare management, the reality is that only around 15% of buyers do not regret their purchase.
   
   That means 85% of people think they made a mistake, whether it is the result of high-pressure sales tactics, confusion, or a change in financial situations. Considering that the average timeshare cost is $20,040, that is an awful lot of money to regret.
2. Myth: Timeshares Are a One Time Cost
   Many people are comfortable paying the high cost for a timeshare because they assume that they will be spared the day to day burdens of owning a vacation home. Unfortunately, timeshares almost always include maintenance fees, meaning that even if you pay off the timeshare, you will still be financially on the hook.

   What’s worse, the maintenance fees rise by 8% every year. Considering the average timeshare owner is just under 47 years old, that means that they have another 30+ years of ever increasing payments.

3. Myth: Your Timeshare Debt Won’t Affect Your Family
   Did you know that many timeshare contracts are in perpetuity? That means that your timeshare and the financial burdens such as maintenance fees pass on to your children when you die. As we already said, these fees continue to grow each year. That means that your children could be inheriting a very substantial cost when you pass away.

Knowing what you are signing up for can make all the difference when you are looking into purchasing a timeshare. Hopefully, this guide has helped you understand the financial obligations that come, should you decide to purchase a timeshare.

My TimeShare Attorney was founded to protect the rights of timeshare owners who feel they have been taken advantage of by timeshare scams. Contact us today to see why we’re among the leading timeshare attorneys in Florida