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Can I Cancel My RCI Timeshare Exchange Contract?
Have questions about an RCI timeshare exchange contract? Timeshare Defense Attorneys can help you with answers to this and much more. Call us today.
Getting Out of an RCI Timeshare Exchange Contract
After owning an RCI timeshare for several years, you noticed how the timeshare maintenance fees increased yearly. Having failed to pay the maintenance fees on time may have impacted your credit score, so you have decided to cancel your RCI timeshare. But is that a good idea?
With over 4000 resorts in over 100 countries, RCI is the world’s largest timeshare exchange company. RCI has nearly four million members who used their timeshare points interchangeably with RCI-associated resorts.
Timeshare memberships with RCI last between one and three years. Occasionally, RCI members find that they no longer need their timeshare exchange network before their contract expires. However, opting out of an RCI contract can be a huge hassle involving loads of paperwork.
The chances of you getting out of an RCI timeshare are pretty slim. Fortunately, Timeshare Defense Attorneys can assist you in navigating these challenges. While canceling an RCI timeshare can be challenging, Timeshare Defense Attorneys can help you navigate these challenges. Keep reading to learn some of the challenges you may come across.
Why Is It Hard to Cancel an RCI Timeshare?
RCI has rather complicated cancellation policies, especially when people try to cancel their RCI memberships themselves. If done right, RCI can even refuse to grant your request to cancel your timeshare exchange contract.
Endless Paperwork
The process of buying a timeshare involves endless paperwork. Resorts do this to protect themselves and make it difficult for you to leave if you ever decide to. There are many industry-specific terms in the contracts, such as a Right of Refusal Clause, a Right of Survivorship Clause, and a Perpetuity Clause.
All these stipulations are designed to lock you into the agreement. Additionally, salespeople are known for distracting you while you sign contracts to confuse you, so you do not really understand what you are signing. This makes canceling these agreements extremely difficult.
Alternatives Are Limited
It is difficult to cancel your timeshare because only a few options are available for a timeshare owner. Even if you decide to sell your timeshare, there are not many people looking for timeshares, except timeshare developers. The person buying a timeshare will likely buy a new unit.
Timeshare companies also make it difficult to sell their properties, especially if you make your payments on time. As a result, if you have a reasonably regular payment history, they will try their best to keep you as a customer and will offer you enticing membership packages.
This is why you need the services of an experienced timeshare attorney who will use their knowledge of timeshare law to cancel your RCI membership successfully.
Different Ways of Canceling Your RCI Timeshare Exchange Contract
Getting out of a timeshare contract can be a strenuous task, but it is still doable. You can choose to go through the process alone. You can choose to go through the timeshare termination process alone. However, you will need deep legal and technical knowledge to navigate the murky waters of timeshare termination. Timeshare lawyers are best suited to assist you if you are unfamiliar with the law.
Below are some ways that you can cancel your RCI timeshare.
Write a Cancellation Letter to RCI
RCI allows you to cancel your timeshare contract by writing an RCI cancellation letter during your cooling-off period. RCI’s rescission policy guidelines and the date on which the timeshare contract was signed may determine the possibility of rescinding your timeshare.
In order to cancel a timeshare exchange contract with RCI, a written request must be submitted. Furthermore, the letter cannot be emailed to RCI, so it needs to be printed and mailed.
Your cancellation letter must include the following:
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The current date
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Your name
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Your contract number
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The date of your timeshare purchase
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The number of days contained in your contract
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Provide a detailed description of what you need the RCI to do for you, such as canceling your contract and giving you a refund. You should also clearly state that you do not intend to join any other RCI timeshare program in lieu of canceling your RCI membership.
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Provide your contact details
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RCI account number
To ensure it reaches the timeshare company in time to begin processing, send the mail to RCI by certified mail.
Resell the RCI Timeshare Exchange to a Third Party
Reselling timeshares may seem straightforward, but the process is more complicated than it appears. Several risks are associated with the resale market for timeshare owners, making it difficult to navigate.
In contrast to real estate, timeshares lose value rather than gain it, so their resale value is low. Furthermore, resale scams are constantly developing, so selling on your own is the safest method. You will avoid being scammed and might even earn a profit. While selling your timeshare on your own will be more challenging than others, it’s well worth the sacrifice for protection against resale scams.
In either case, it is best to hire a timeshare attorney to assist with all the technical details of legally terminating your timeshare contract.
Seek Assistance From a Third Party
Timeshare exit companies are an option, but you should conduct thorough research before engaging in their services. Doing this lets you determine if the timeshare exit company is legitimate, as many of them are frauds. For example, a reputable timeshare exit company will not entice you with empty promises and demand a substantial down payment. So it is important to be vigilant when seeking assistance. Alternatively, you might want to hire a timeshare defense lawyer who will work for your best interests.
How Long Do I Have to Cancel My RCI Timeshare Exchange Contract?
The duration to cancel an RCI Timeshare Exchange Contract typically depends on the stipulations in your RCI Membership Agreement. Many timeshare contracts, including RCI, have a rescission period, allowing owners a short window to cancel their agreement without penalties. This period varies, so it’s crucial to review your contract or contact RCI directly with your account number handy. If you’ve surpassed the rescission period, the process may be more complex and might necessitate assistance from a lawyer experienced in timeshare ownership issues. Always ensure to send cancellation requests to the designated mailing address provided by RCI or your timeshare developer.
How an Attorney Can Help With the Cancellation of Your RCI Timeshare
Getting out of your RCI timeshare exchange contract might seem impossible. Nevertheless, it is possible with the help of a Timeshare Defense Attorney.
Our team of lawyers can provide you with customized advice regarding the cancellation of your timeshare contract after answering a few questions. As soon as we have assessed the parameters of your case, one of our timeshare attorneys will begin the cancellation process. They will help you in your timeshare case in the following ways.
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Depending on the terms of the RCI timeshare contract, a timeshare attorney can help you file a lawsuit against RCI.
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A timeshare attorney will also handle all the paperwork involved with the timeshare cancellation, which is often sensitive and requires close attention to detail.
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Their knowledge of timeshare collection laws can significantly help you, especially when facing unfair credit reports or debt collection policies.
Get in touch with us to schedule a consultation with a seasoned professional free of charge.
