Time Share Cancellation

You got into the trap! Do not feel bad about it. Many people do. IBG Legal is here to help you and save your vacation!

Every year, numerous customers are duped into purchasing timeshares. They wind up purchasing timeshares that they do not require, cannot afford, or cannot utilize. Or they kept inside their budget yet are unable to schedule time using their points. Here's what occurs and how to get out.

If you want to buy a timeshare, here's what you need to know.

Before you buy a timeshare, you need to know a few things and which companies have the most compliances.

If you want to buy a timeshare for your next vacation, here are some tips to make sure everything goes as planned.

BEFORE PURCHASING

Don't buy something on a whim. Think about why you should get this service and take your time with it.

If you can, try to travel during the off-season, when prices are lower. Do not think about buying from businesses that offer their services through social media, WhatsApp, email, or the phone.

Here is where you can check to see if the contract is registered to Profeco: http://bit.ly/1YjUIh1 and that it names Profeco as the authority that can confirm your agreement if there is a dispute.

If you want to buy a timeshare from a certain company, you can look at Profeco's Commercial Buró to see this company's business path. Here: https://bit.ly/2DdStXQ

Please read the document carefully before you sign it, and make sure that the information is clear and matches what you are buying, especially if they are giving you a deal. Do not sign if you see a clause that says you have to give up your right to back out of the agreement.

Look at the total cost of the service:

a) regular quotes, special quotes, and maintenance.

b) Exchange quotations.

c) Total Annual Cost (CAT) if you need help paying for it.

d) The interest rates for paying it back. Most of the time, prices go up every year.

Make sure the company has insurance that covers your health, your personal belongings, and any damage, partial loss or total loss to the property and goods that are supposed to be part of the timeshare service.

Check to see if the property is meant to be used as a timeshare and has all the features listed in the contract. The company can't charge you for anything without your permission first.

MEANWHILE

If the company can't give you the service you paid for because of something he did, he has to find you another place to stay in the same place, in a development of the same or higher quality.

Let's say that any of the things we've talked about so far can't be done. In that case, the company has 15 calendar days to pay for all the necessary and verifiable costs from the place of origin to the establishment and back.

If the company doesn't do what you want, you have the right to get the usual penalties that are written into the contract.

CANCELLATION

IBG Legal can assist you with canceling. You need to act thoroughly. Once you buy a timeshare, you have up to 5 business days from the day you sign the contract to ask for the service to be stopped without any further obligation. The company has 15 business days after that to return your money.

The notice must be given in person, through registered mail, or through certified mail.

Ask what the process is if you want to sell, transfer, or give away your rights to the timeshare.