Do you find yourself trapped in strict and annoying timeshare contracts? Most people regret why they have actually got into such a deal where they are completely ripped off financially. Holiday inn club vacations timeshare cancellation is quite difficult because there are many things that the owner has to look into. With many different sales pitches and desirable features, the customers are lured into buying the timeshare property, but the burden that comes after purchase can not be imagined. On the other hand, to come out of the timeshare is a complicated scenario, and it requires the owner to be extremely cautious.
How to cancel the Holiday Inn Club vacation timeshare?
- Notification
Notifying the resort is the primary step to canceling a timeshare. Today there are many direct ways to get in touch with the resort or developers teams to start any process because of the digitization. You can easily find the right person to talk about the process of cancellation through the website.
- Communicate in writing
Although digital media is great for communicating, since timeshares are critical, it is always advised to write a letter to the resort. Verbal communication may not be of help in this situation.
- Maintain Clarity
As the timeshare owner, you need to mention in the letter very clearly about the cancellation. It is also recommended that you put ‘cancellation of timeshare’ in the letter’s subject. This is very important because then, let us assume that things don’t go well. If you have to hire a timeshare exit company or a lawyer, these letters are proof documents.
- Check for any refund
Based on the payments that you have made, calculate if you may get any refund. If any money needs to be credited to you, ensure that you clearly write your bank account details that the money needs to be credited into. Although this is a rare scenario, owners may have made payments for the entire year and want to cancel beforehand. In such cases, the owner will be eligible for a refund.
- Look for other options
If you are not able to get through the agreement easily and feel stuck in it, there are other options that you can try. For example, you can look for people in your family and relatives who might be interested in taking it as a gift or donation. Another way is to rent it out. You can post an ad for renting the timeshare on the listing websites and look for prospects, but be careful not to mess with the maintenance charges because it will impact your credit score. Lastly, you can look for buyers and resell it just like the rental listings on the internet. You can post an ad for the resale of the timeshare on the listing platforms. Look for genuine buyers and come out of it.
How do Timeshare exit companies with Escrow help in canceling Holiday Inn Club vacation?
Timeshare exit companies offer safety in completing the cancellation process, and most of the owners experienced positive outcomes with the timeshare exit companies. However, the upfront costs that the timeshare exit companies charge are huge, so if you are looking for professional help, you must also check on the upfront cost. While you look for a timeshare exit company, you must go for the ones that have low upfront escrow costs.
Understanding the Escrow payments in Canceling a timeshare
The timeshare exit company keeps working to cancel your contract, and in the meantime, the Escrow is the third-party account holder of financial transactions. This is a great help for the owners because in any unfortunate event that the timeshare exit company is unable to help the owner to get rid of the contract, then the money is safe in the Escrow account, and the owner gets it back.
It keeps the timeshare company accountable. In simple words, if you go for Escrow payments, your money will be safe because sometimes the timeshare companies may shut down or may not complete the work as the thought of in such situations, the upfront money will be returned through Escrow.
For example , There was a company called ‘Aconsumercredit,’ which was shut down, and all the timeshare owners who invested in them to get rid of the timeshare burden have also lost the upfront cost that they have paid to the company. So they have lost money and hope.
Canceling the timeshare is a burden, and sometimes the timeshare companies do their job, and the owners don’t pay them for their services. In such scenarios, Escrow helps. Basically, Escrow keeps the money safe for the parties until the job is done. Once the timeshare is canceled, the timeshare exit company gets the payment, or if the timeshare is not canceled, the owner gets the money.
Conclusion
Being a binding agreement makes the timeshare a strong and complicated one that you can’t come out of easily. Many exit strategies like the above mentioned are there to help people suffering from the expenses and costs arising from the timeshare.
