Timeshare Contract Cancellation

The rescission period is the time you are given by the law if you wish to cancel your timeshare contract, some sales person won’t tell you have this right, or just tell you that since this is “one in a lifetime offer” there is no right cancel the timeshare contract, some resorts even make you sign a waiver to rescind your right to cancel your timeshare contract, however this is illegal in Mexico and this document is not valid.  If you wish to cancel your timeshare contract within the five days period, you should be able to find in your timeshare contract instructions to where and how to send the cancellation letter via  certificated mail,  You can also talk to your sales person and let them know that you wish to cancel your timeshare contract, you don’t really need a reason just your wish to cancel your timeshare contract, be polite and if they turn you down, contact the headquarter office and let them know about your wish to cancel your timeshare contract and that you had send a cancellation letter via certificated mail. According to the law in Mexico if you cancel your timeshare contract with in the 5 days period you get a FULL refund of your money with no exceptions.

                                                                                                                                                       

Canceling your timeshare contract after your rescission period is matter of diplomacy from the resort, but don’t expect it to be a easy process, you can still get your cancellation and a refund of a reasonable sum of your monies already paid to the resort, the longer you own your timeshare the less possibility you have to recover any monies, since every day the timeshare value drops. However the resort will try to fight back your request to cancel your timeshare contract since for them will be a lost of money.

Seek for legal advice and make sure your attorney is familiar with timeshare matters in Mexico, If you are planning to hire an attorney or a company that is going to be handling your case, make sure is a legit company and that meets your needs, do not pay any upfront fees, now a days there are companies that continue with the scam, making believe they are there to help you get some relief from your timeshare situation.  You can also contact PROFECO, which is Mexican governmental institution that is designed to protect customers from fraud or scams in Mexico, you can submit a claim to PROFECO, which they will help you to get a settlement that is convenient for both parties. You can contact PROFECO still on your rescission period or after it has past this time, you should know that cancelling your timeshare contract with PROFECO is going to take a few more months that you probably expect. When it comes to the hearings, you should be fully aware that you will need a translator, and you should always be on time if for any reason you can’t make it on time or be on the phone at the time of hearing, this is consider as you didn’t approve of the settlement given by the resort and it will push back the date to finalize your case, you should also be prepare with all evidence you need to present a strong case against the resort.