Cancelling your timeshare. Has anyone done it?

[majik54]

I am considering cancelling my timeshare contract and walking away from it. has anyone else done this, or has anyone had experience with Gonzalez & Gonzales Timeshare solutions to help them cancel and get their money refunded? My contract says I can cancel, but must pay 30% of the original purchase price. I have paid out double to 30% and so want a refund of the difference and they are now telling me "residual amount of your previous contributions will be kept as an exceptional penalty to cover the administrative costs generated and affiliations covered affected for your membership"
I just want out of this contract, and some of my money back. Has anyone done this?
Thanks
Jody

 

[DeniseM]

You are very likely to lose some more of your hard earned money if you do this.

More info.

When you bought a timeshare, you voluntarily agreed to a contractual financial obligation. On what legal basis do you feel that you should be let out of your contract?

 

[Passepartout]

I know little or nothing about your individual situation, but am assuming you signed a legal contract taking on the debt. There is nothing that would give you the right to simply walk away. There is no kindness in the heart of the developer. You can sell it to someone else. You can pay it off. If a short time has passed since you signed the contract, perhaps you can rescind. Paying someone, anyone an upfront fee to sell it for you is just a scam to get more of your money. Probably the best thing to do is join the throngs of TUG members who bought from developers then found TUG and studied how to get the most from their TS purchase. It seemed like such a good idea when you signed the contract, now make it so. Best wishes....

Jim Ricks

 

[majik54]

I did sign a contract, and there is a clause that states that I can cancel the contract but have to forfiet 30% of contract price. I understand this and still want to cancel, and the only issue is whether I should get a refund of the monies I have paid over and above the 30%.

I feel so ripped off with this timeshare, and have no idea how to rent or sell my weeks, or how to sell my affiliated rci points. I just keep paying money into something I can't use, don't know how to "work" and I feel so defeated.

I have read all the articles on this web site, but my timeshare is different than most of ht eones discussed. We bought into the H10 Hotel chain at Ocean Coral/Turquesa. We love the resort, but were not made aware that when we book a week, we also have to pay the daily all inclusive charge per person. this is mandatory. It cost me more to book a timeshare week, than it does if I go to itravel2000, or Expedia and book the whole trip through them. There is no benefit, except better liquor and a few other insignificant features.

 

[DeniseM]

I did sign a contract, and there is a clause that states that I can cancel the contract but have to forfiet 30% of contract price. I understand this and still want to cancel, and the only issue is whether I should get a refund of the monies I have paid over and above the 30%.

I would take the 30% and run. That is a better deal than you are going to get anywhere else.

RE: renting your unit - renters are not going to want to pay the high all inclusive either and the market is glutted with Mexican rentals right now. Travel to Mexico is depressed because of the economy, and fears of violence.

RE: renting your RCI points - RCI doesn't allow it.

Just curious - does your contract disclose the daily mandatory All Inclusive fees?