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Thread: How to terminate a timeshare contract? I need help

  1. #1
    Junior Member
    Join Date
    Mar 2018
    Location
    Brazil
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    How to terminate a timeshare contract? I need help

    Hello, I'm from Brazil, and on a trip to Orlando in June of 2017, I ended up acquiring a timeshare contract with Vacation Village Resorts. I have never made any trips through this contract, I have paid 8 installments, plus an entrance fee, and a condominium annuity. However, I decided to rescind the contract. What is the legal procedure for this? Can I get the money back, even if it's a part of it?

  2. #2
    Since you are well past the rescission period, you will not be able to legally cancel your contract. Since you still owe money on it, you won’t find anyone to take it off your hands.
    You can inform them that you can no longer afford the timeshare, and that you will not be making any more payments, and ask them if they will take it back.
    You can learn to use it to the maximum benefit. Or you can let it go in to foreclosure. Since you do not live in the US, a foreclosure may not be as detrimental to you as it would to a US citizen who needs to maintain credit scores.
    Jacki

  3. #3
    Goomba & Super Moderator tonyg's Avatar
    Join Date
    Jun 2005
    Location
    Southern New England
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    15,857
    You are in a no win situation. Best bet may very well be to stop payments and tell the resort you can no longer afford it. Vacation Village has little if any resale value, so what you paid is lost - there is no way you can sell it for more than what you still owe on it. Take the loss as a lesson learned and if you like the idea of timesharing buy one on the resale market (cash-no financing) in the future after doing due dilligence as to how it will fit your needs.

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