The rewards that are offered when presenting a timeshare are hard to resist, which is why a lot of people invest in them. So, places like Mazatlan, Riviera Maya, Cancun, Los Cabos, Cozumel, Puerto Vallarta, Riviera Nayarit and Nuevo Vallarta have made Mexico have the second largest population of timeshare agencies in the world. Therefore, many people view Mexico as a hotspot for investing in timeshares. But what about those situations in which you are thinking about cancelling Mexican timeshares? Is there such a thing as being able to cancel your timeshare membership? If so, can the cancellation be done between you and the resort, or is legal action needed for assistance? Here is all you need to know about cancelling Mexican timeshares.
Consumer rights when cancelling Mexican timeshares
A timeshare has the same consumer rights protection as any other purchase when cancelling Mexican timeshares. The rescission period—also called “cooling off period”—is available in Mexico and applies to timeshare agencies and their customers. The rescission period is more like a grace period that lets you try before you buy with the assumption that most people will after having a positive experience. The following information gives more details on what the rescission period means for timeshare owners when cancelling Mexican timeshares.
Cancelling Mexican timeshares with the resort directly
Cancelling Mexican timeshares directly with the resort is possible if it’s done during the rescission period. The rescission period is the time you are allowed to cancel your timeshare without penalty. So, find out how much time you have to make the decision to cancel your timeshare membership should you feel the need to terminate it after signing your contract.
How do you go about cancelling Mexican timeshares after the rescission period is over?
There is no option for cancelling Mexican timeshares after the rescission period is over. Agencies offering to cancel your timeshare for you (pretending to be a team of lawyers) don’t have any legal grounds to cancel your timeshare. They have you paying a fee after your first free consultation all to find out that the cancellation is not legal and will not be honoured in court.
Why do people keep falling for timeshare cancellation scams?
Companies cancelling Mexican timeshares look like a dream come true because they seem to offer something most say cannot be done: cancelling a timeshare after the rescission period. People get caught up in the hype of these false promises and end up realizing they have paid a lot of money to have a service performed that is not legal. And now, they are stuck with a loan in default and a membership that is still legally binding. Beware of any agency promising to cancel timeshares because they are telling you false promises in hopes of getting money from you.