How to Get Rid of Timeshare without Ruining Credit

Some timeshare owners get so desperate to offload their property that they refuse to pay maintenance fees. These are extra fees on top of the timeshare mortgage. Some people have the assumption that not paying these fees breaks the contract and carries a few legal consequences, but the truth is significantly worse.


Consequences of Missed Payments

Ruined Credit Score

We’ve often received the question, “Can timeshare ruin your credit?” The answer is yes, especially if you miss payments on maintenance fees and other annual timeshare payments.

Choose Timeshare Cancellation Expert

Getting out of a timeshare can be challenging, even with a timeshare exit company by your side. At Timeshare Cancellation Expert, we follow a comprehensive process that guarantees results. We have many success stories, and our outcomes speak for themselves.

It’s challenging to get rid of a timeshare without ruining your credit, especially if you’re already overwhelmed with management fees and other payments. If you’ve tried selling, gifting, or speaking to the developer, you may feel that you’ve entirely run out of things to do and that you’ll be paying timeshare bills for the rest of your life.

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How to Get Rid of Timeshare without Ruining Credit


Ways to Get Out of a Timeshare Contract

Timeshare cancellation isn’t easy, and there aren’t many good options. That said, there are still several different ways to cancel your timeshare without ruining your credit.


Countless companies will promise to help you get rid of a timeshare, but it’s still worth your while to shop around. Timeshare exit companies vary in quality, depending on their expertise and reliability. Which one you choose can influence the time and expense it will take to get rid of a timeshare contract.


Most people who sign up for timeshare contracts end up regretting them. Some people get caught up in the sales presentation but find that the reality doesn’t match their imagination. Others see the mounting costs and restrictive schedules to make timeshare ownership as increasingly expensive and inconvenient.

Even if you’ve made plenty of memories at your timeshare property, you may find that your lifestyle has changed so much that you no longer have the chance to use it as much as you’d like. You may need to be home a lot more or attend to something that prevents you from traveling. At this point, you may wonder why you’re still paying ownership fees for something that you don’t use.

These aspects make it clear that merely stopping your timeshare resort payments is not the way to cancel your timeshare.

The Federal Trade Commission states that any product must have a cooling-off, or rescission, period. During this period, the resort developer must cancel your contract upon request, no questions asked.

While this is the most effective way to get rid of your timeshare without ruining your credit, the short deadline makes it almost impossible for dissatisfied customers to cancel their contract.

The simplest option is to sell your timeshare to new owners. Unfortunately, the resale market can be challenging to work in, and many timeshare companies have restrictive terms. Some may state that you have to pay a fee when you sell your timeshares; others will limit your selling reasons.

Another factor to consider is that the price for most timeshares is rock-bottom. Unless you have vacation ownership at a top-rated resort, you may struggle to sell your timeshares, even for a dollar.

Within the Rescission Period?

Timeshare companies will also do everything possible to delay the process or use any reason to decline your request. Even if you are in this period, we recommend working with a timeshare exit team when drafting your cancellation letter to ensure a smooth process.

Instead of trying to go it alone, why not work with a timeshare exit company? These companies act as a consumer advocate and help you with the timeshare cancellation process. They’re often the best way for owners to get rid of timeshares quickly and with minimal expense.

When you first contact us, our team will get in touch via email or phone. They’ll discuss your situation and identify your needs. They’ll examine all your timeshare documentation to get a good idea of the way forward and what your options are.

Once we’ve established a clear strategy, we’ll provide you with cost estimation and potential timelines. Every case is different, especially since various timeshare companies have different methodologies and processes.


Foreclosure isn’t just an inconvenience. This stressful process can cost you thousands of dollars in:

● Legal fees
● Missed payments
● Interest
● Fines

Missing one maintenance fee payment may not invite financial ruin, but don’t think that your credit company won’t notice. Constant missed payments on your timeshare may negatively affect your credit, and foreclosure can drop your score by up to 100 points.

After the Rescission Period

Many people only decide to get rid of their timeshare long after the rescission period ends. Unfortunately, every option for timeshare cancellation places an enormous financial and time burden on the owner. There are no good choices, only a selection of bad ones.

Sell Your Timeshare

Unfortunately, canceling a timeshare is a laborious and costly process. We typically expect six months from start to finish, and some cases have even dragged out for several years due to delays. However, once we start working with a client, we’ll keep attempting to get your desired result.

Don’t let unused timeshare ruin your credit. Leave your name, email, and other contact details with Timeshare Cancellation Expert, and we’ll get back in touch as soon as possible. Let us help set you free from the burden of timeshare costs today!

Unfortunately, as many owners have found, getting rid of a timeshare contract isn’t as easy as you might think.

The timeshare industry makes its money on fees and will do everything to keep customers from selling their properties. Timeshare contracts are unambiguous, and there are very few acceptable cancellation reasons.

If you cannot cancel, you’ll need to look for other ways to get rid of your timeshare. However, some of these options can pose a risk to your credit score.

Missing annual payments allows the timeshare developer to foreclose on the property and has several other consequences for timeshare owners.

Rest assured that every timeshare company that declares foreclosure will do everything they can to get as much money as possible.

A major downside to cancellation is the very short deadline. Some states have a rescission period of several days. The longest period is in Alaska, which gives you 15 days to change your mind..

However, following any one of these methods will ensure that you exit your timeshare without ruining your credit, but you must keep making your payments on time.

Gift Your Timeshare

Another option is to gift your timeshare to a family member. If you’re content with your timeshare experience but just don’t have the time to go on vacation anymore, this is an excellent option.

However, if you’re unhappy with high maintenance fees or have other concerns about your timeshare, is it a good idea to pass those burdens onto another member of your family?

Timeshare Rentals

An appealing option is to rent out your timeshare to someone who wants to spend time at your home resort. You may be limited in terms of your schedule, but even a small income may help alleviate some of the timeshare costs.

However, make sure that your resort or timeshare company doesn’t have restrictions on sub-letting that may impact your ability to rent. Often, companies will want guests to rent directly from the resort so they limit who you can rent to.

If you like this option, there are real estate agents who specialize in timeshares. They can offer you several options to help offset your expenses.

Work with the Developer

If you’re lucky, you may be able to contact your resort or developer and sell your timeshares directly to them. This option is often the best if you can find a developer that’s actively buying a lot.

The unfortunate truth is that most companies will refuse to work with you as they want to get money regardless of customer satisfaction. They have no reason to buy back timeshares that may not make a profit for them. If you struggle to sell your timeshares to friends or family, there’s very little chance that a profit-motivated developer would buy them.

What About Donating Timeshares to Charity?

One common myth is that you can donate your timeshare to charity and even write it off your tax return as a deduction.

The truth is that any charity that says it will take ownership of your timeshare is probably running a scam. If you can’t get rid of it yourself, why would a charity get value from it?

In the past, some charities did charge potential donors a fee, after which they’d accept a timeshare donation.

Also, since the Internal Revenue Service values timeshares as entirely worthless, so you won’t see any large deduction on your next tax return.

Choosing the Best Timeshare Exit Companies

Work with a Timeshare Cancellation Company

Avoid scams

Try to work with a timeshare exit company that offers a free consultation and many exit strategy options. Avoid any exit company that promises a money-back guarantee but asks for up-front fees since there’s no assurance you’ll get your money back if the company goes out of business.

Have a reliable timeshare exit team

Ideally, you need a company that has an exit strategy that works for your particular situation. One-size-fits-all solutions can end up ruining credit scores and leaving you with more bills than you had before.

When you speak to a timeshare exit company, make sure that they send you several options via email or other written methods that show a clear strategy, exit costs, and deadlines. Avoid companies that take long to respond since they’re likely either overwhelmed or slow, neither of which is ideal for your situation.

We factor in costs, including additional off-site legal advice, which helps us leverage the advantages of your particular situation.

Timeshare Cancellation Expert LLC, All Rights Reserved

We help people who need advice for their timeshares! Keep it or cancel it, let's find out the best decision for your circumstances. 


This is to state that this is not a financial product. This page doesn’t relate to anyone getting a loan. This is NOT a loan product, a requirement to get financing, or related to getting financing. This page is in no way endorsed by Facebook. There is no guarantee of a refund or financial compensation by acting on the information herein. 

Results are not guaranteed and will be looked at on a case by case basis. Not all clients will qualify for timeshare cancellation and compensation in the form of a refund from their timeshare resort. We work carefully to select timeshare relief firms. Once you are qualified and accept our terms, we will introduce you to them to look after the management and administration of your recommended plan. Our online service is 100% free to use, and you are under no obligation to accept any of the quotes or product offers. Timeshare relief options are subject to conditions and acceptance. Timeshare Niall does not administer timeshare

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