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Is It Necessary to Hire a Lawyer for your Timeshare Exit? To date, almost seven percent of households in the U.S. are hooked up to a particular type of timeshare product and the number says a lot about the popularity for this nature of property ownership. But as expected, majority of those that own one belong to families that earn at least $100,000 in annual income. Well, there are perks of investing in timeshares, especially for people who have the extra money for pay for them. But then again, there are those who eventually realize after paying for several months that they no longer are capable or interested in honoring the responsibility of owning a timeshare. And considering you’re here and reading this post, it could only mean one thing: you also want to get out but you’re confused as to how to make that possible. The moment the payment obligations start piling up, you finally get overwhelmed by them, including the interest payments and maintenance fees. So as to finally get yourself from relief from your obligation, you have to consider hiring experienced and knowledgeable timeshare exit attorneys. Here are the reasons why you should: 1 – First, you must understand that the always applicable to cancelling timeshare commitments differ from one state to another. One particular problem related to this is the possibility that you may have purchased a type of timeshare property in another state which is different from where you’re currently residing. It is therefore a necessity to hire a lawyer who knows everything about the laws of that state and other pertinent regulations about cancelling timeshares like the rescission period.
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2 – It helps to have an expert come up with the letter for the cancellation of your timeshare contract. Obviously, any termination of an existing contract must be done in writing. However, the problem is the letter you’re supposed to create is not your average business letter. In this case, a lawyer’s expertise is valuable because he/she can make that letter in your behalf. Perhaps the most important thing inside that letter is the cancellation statement.
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3 – The act of hiring a lawyer for a timeshare exit means you have someone who can protect you from debt collectors. Since pending payments and fees will surely come your way as you attempt to cancel, it’s expected that debt collectors will storm back at you and demand you to pay your obligations; this in turn could cause a lot of stress. But with a lawyer by your side, you can invoke the Fair Debt Collection Practices Act that is designed to protect you from harassment from debt collectors, and once those collectors see that you’ve tapped the services of a legal professional, they most likely will back down.