Puerto Vallarta, Nuevo Vallarta, Riviera Nayarit, Cozumel, Los Cabos, Mazatlan, Cancun and other locations in Mexico have made the country the number two geographical spot that has a lot of timeshare companies offering timeshares and vacation club memberships. The popularity comes from the area having so many enticing rewards that makes it hard to refuse the timeshare offers given. On the other hand, what if keeping your timeshare membership no longer something you want to do? Are there options available for you to cancel your Mexican timeshare? If so, is the process done with the resort, or will it take legal maneuvers to make it happen? Here is all you need to know about how to cancel your Mexican timeshare.
Your consumer rights when you want to cancel a Mexican timeshare
All purchases are covered by consumer rights—including your timeshare. Mexico has a rescission period (aka “cooling off period”). The rescission period is beneficial to both the company and the potential investor because it allows the customer to try out the timeshare before finalizing the contract for ownership. Now, let’s take a deeper look at what the rescission period means for the timeshare consumer when you want to cancel your Mexican timeshare.
Are you able to cancel your Mexican timeshare contract directly with the resort?
Yes. Even after signing the contract, you have a specific time frame to back out your contract, which is called the rescission period. Ask the resort about how long your rescission period is for your timeshare. That way, you will be able to cancel the contract at the resort without incurring any penalty.
Are you able to cancel your Mexican timeshare after my rescission period has expired?
Once the rescission period has gone by, you won’t be able to cancel your Mexican timeshare contract. Therefore, you need to watch out for companies promising you that they are attorneys that can get you out of your Mexican timeshare membership. What they fail to tell you is that there is no legal way you can get out of your timeshare contract once the rescission period has ended. Even these so-called companies stating that they specialize in getting timeshare memberships canceled are fraudulent. They may offer a free first-time consultation, but they will charge you a fee.
Why do people keep falling for Mexican timeshare cancellation scams?
People keep falling for these scams because the companies seem very promising. They lead you to believe that there is still a way to cancel your Mexican timeshare contract and offer a nice cancellation package to do so. By the time you honor their costly fees, you will think you have canceled the membership, but all you have done is started the loan default process, which still means the contract is being enforced. Anyone telling you they can cancel your timeshare membership after the rescission period is most likely making a false claim they won’t be able to back up legally.
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