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 both options.
In most cases the theory behind simply paying it off is because most timeshare contracts heavily favour the developer. If one takes the time to read it line by line it can be quite scary with all the threatening language. Basically, if terms of the agreement are not met the developer can take measures to enforce specific performance and even 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 lawyers may say, ”Simply pay it off, it’s not worth hassle”.
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 to enforce such payment. Many cases exist where the buyer has stopped payment and the resort company then sends the debt collector to collect. A very popular company that many Mexico Timeshare Resorts use is named Concord Servicing Corporation. There have been other instances where the debt collector cannot find the buyer and the buyer thinks they are in the clear until later while attempting to make a large purchase and they are surprisingly informed of the timeshare debt on their credit report.
A third choice, not known to many, is to use a Mexico Timeshare Cancellation Agent who knows the timeshare terrain in Mexico. One thing is certain, that it’s not easy to cancel a timeshare contract. 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 Agent will cost much less 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 has helped many clients who have been presented with the same two options in the past by using its proven method.