What Advice Have You Been Given At This Critical Moment?
What does a Mexico Timeshare buyer do when they wish to cancel the timeshare and their personal lawyer has told them that nothing can be done to cancel their timeshare contract? Should they simply write a check for the balance and be done with it? Would it be better to simply stop payment altogether? These are tough choices to make especially when time is of the essence. Let’s analyze more thoroughly the options involved.
Heck, let’s just be done with it and write a check! In most cases the theory behind simply paying it off is because most timeshare contracts heavily favor the developer. If one takes the time to read a timeshare contract line by line it can be quite scary with all of the threatening language if one does not make payment. Basically, if terms of the agreement are not met the developer can take measures to enforce specific performance and even in some cases charge the buyer legal fees on top of it. To make matters more complex, the area of jurisdiction is in Mexico and the legal language is Spanish. No wonder why most foreign lawyers recommend, ”simply paying it off due to the possible hassle(s) and fear of the unknown”.
The other option of stopping payment altogether is NOT RECOMMENDED due to the wording of most timeshare contracts stating that a delinquent buyer can be reported to credit agencies as a subsequence of not making payment as per the terms of the contract. Many cases exist where the buyer has stopped payment and the resort company then sends the debt collector to collect years later. It is being reported that Mexico Timeshare Resorts are now using loan collection companies in the United States, as well as, Canada in order to pursue performance on the unpaid loan. Unfortunately, being initially informed of such news generally comes at one of the worst times, like when one is trying to make a large purchase and their credit score needs to be examined. It is at that time when the person involved becomes upset, embarrassed and ultimately unable to acquire (at least momentarily) the product that they had in mind to purchase. What generally comes to mind are a few choice words for that Timeshare Resort that in most cases did YOU wrong in the first place. The nerve of them to send you to collections is the general mindset!
A third choice, not known to many, is to use a Mexico Timeshare Advocate who knows the timeshare terrain in Mexico. One thing is certain, and that is that it is not easy to cancel a Timeshare Contract whether it be here in the U.S., Mexico, or Canada. It needs the proper persons negotiating with the resort company and in complex cases it can take up to a couple of months. A Timeshare Cancellation Advocate will cost much less money than a lawyer for the amount of hours needed to effectively cancel the contract and will be more financially sound than to simply “walk away” from the signed agreement. Mexico Timeshare Advocate is team of professionals who dedicate themselves to assisting Mexico Timeshare Owners who have been deceived during the purchase and/or have had their Consumer Rights taken away from them.