While you might have heard that timeshares are popular, don’t believe the sales hype. Statistics show that only 3% of households throughout the United States own a timeshare. Making matters worse, many of the people currently owning a timeshare aren’t happy about it. A study from 2016 found that 66% of people owning timeshares felt that expensive maintenance fees were their main reasons for wanting out of their contracts. If you’re wanting out of your timeshare, you might have options. With that in mind, here are three important reasons to contact a timeshare cancellation attorney.
- Having Your Case Evaluated
A major benefit of contacting a lawyer is having your case evaluated. A winning case is often beneficial for both a lawyer and their client. Unfortunately, timeshare foreclosure laws can make it complicated to understand whether or not you have a case. With that in mind, it’s wise to contact a timeshare attorney. In turn, you can have your case evaluated to find out if it’s worth pursuing.
- Possible Relief from Debt Collectors
Timeshare companies hype up these properties quite a bit. Considering that, many people sign up for a timeshare without knowing what they’re getting into. A study from Ernst and Young found that 56% of all reclaimed timeshares occurred due to foreclosure. If you’re unable to pay for your timeshare, you might start receiving calls from debt collectors. These calls are understandably burdensome. Many people seeking relief from these calls contact timeshare lawyers. In turn, having a lawyer ensures you won’t have to continue dealing with calls from timeshare debt collection agencies.
- Potential Credit Repair
Many find it tough to get themselves out of debt. Unfortunately, your debts will only worsen if you’re unable to pay for a timeshare. Constant fees for maintenance and other ownership costs can drain almost anyone’s wallet. In turn, you could find that trying to get out of a timeshare might damage your credit. Timeshare foreclosure laws can be difficult to understand. Therefore, it’s best to have a lawyer navigate this area to find an optimal course of action. In turn, this could help ensure that your current credit score remains unaffected.
In closing, there are important reasons to contact a timeshare cancellation lawyer. Timeshares might seem like a great idea. However, many owners soon find themselves saddled with properties they don’t want. If you’re seeking a way to legally get out of this burden, contact a timeshare cancellation attorney right away.