If you own a timeshare, you likely know that the timeshare industry is not friendly to buyers. Developers create long contracts and then harass people into signing them after awful high-pressure timeshare sales presentations. Then, owning a timeshare involves paying thousands of dollars every year in maintenance fees. So, many owners wonder how to use consumer protection laws in timeshare exit strategies.
There is good news. Laws exist to help you. The Federal Trade Commission (FTC), state attorneys general, and state lawmakers are all deeply concerned about the risks that timeshare purchases pose to consumers. They offer concrete help and tools for you to fight back against unfair business practices, if you have the time and will to follow through.
This article will take a look at some sources of consumer protection law and how you can use your legal rights to take back some control over your life and money. As the premier timeshare exit company, Centerstone Group can help you use these tools and get the help you need to exit your timeshare in a fair, legal, and ethical way.
The Federal Trade Commission has been the leading consumer protection agency of the United States for over 100 years. It attempts to take a multi-pronged approach to fighting unfair business practices, with efforts in law enforcement, education, and advocacy on behalf of American consumer rights.
When it comes to timeshares, the FTC has brought lawsuits against developers, like when it sued the Wyndham group of companies to protect the cardholder data of Wyndham’s customers. The FTC also accepts consumer complaints of fraud and misconduct directly, which can be reported on the FTC’s website (ftc.gov).
While these tools can be helpful in holding timeshare developers responsible for their actions, keep in mind that the FTC is an agency that serves the entire country. It won’t enforce state-specific laws, and it can’t guide in an end-to-end exit strategy. So, it’s helpful to use state-level tools and hire a timeshare exit company like Centerstone Group to help you.
Every state in the country has an attorney general. They are the state’s top law enforcement officer and make sure that all state laws are followed by companies that work in that state. If your timeshare company made fraudulent sales pitches or pressured you into buying with dishonest sales tactics, your state’s attorney general will want to know about it.
Attorneys general have also been seen helping in timeshare cases by filing lawsuits to stop fraudulent companies from pulling scams in their states. For example, the Washington Attorney General sued to stop Timeshare Exit Team from operating. They can also fight back against scams by so-called “timeshare resale companies” that target owners who want to unload timeshares on the real estate market.
In your state, there are likely also other procedures for filing complaints with your attorney general’s office and/or state department of justice.
Though attorneys general serve smaller areas than the FTC, serving all people in an entire state is still a big job. As you can see from the California Attorney General’s job description, these people also have a lot of other work to do. Keep in mind that these public servants don’t always move as quickly as one would like in cases that involve a single person and timeshare seller.
Because it can take a long time for online complaints to be reviewed and fixed, you might want to take a look at your state’s laws about timeshares. The state of Florida, for example, has a whole chapter with just timeshare laws. Nevada also has detailed laws on the subject.
Perhaps most vital to all new timeshare owners, nearly every state in the country has timeshare cancellation laws that allow you to rescind or unwind your contract — which includes getting a full refund — if you take specific steps to cancel in writing before the end of your state’s cancellation period (sometimes called a “cooling-off” period or rescission period).
If you attempt to cancel your timeshare in this way, you need to be careful. Failure to follow the exact terms of the law and your timeshare contract (which often requires a timeshare cancellation letter) will result in failure. Then, if the rescission period has run out, you will be stuck with a timeshare and unable to get a full refund of all the money that you have already sunk into vacation ownership.
If you want to use a timeshare cancellation law to exit a recently signed contract, you can reach out to the experts at Centerstone Group for free advice and guidance about the rescission process.
At the federal and state level, there are laws and agencies who are fighting against unfair and predatory timeshare developers. But it’s not just a question of how to use consumer protection laws in your exit, but how to do it the right way.
That’s why it makes sense to have trusted professionals helping you with your timeshare exit. Centerstone Group’s team has collected decades of experience in both timeshare exits and the timeshare industry generally. We know how to achieve exits from timeshare agreements all over the country and even in Mexico. Whether your exit requires a rescission, a transfer, a proprietary pressure campaign, or finding a legal representative, we can help.
Centerstone Group is an A+-rated company with the Better Business Bureau (BBB) and has a 4.78-out-of 5-star rating from our happy clients. Contact us today for a free consultation and case evaluation, and we will tell you what we can do for you.
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