Timeshares sometimes seem like a burden. A seemingly ideal vacation investment can easily become a financial burden. You are not alone if you are stuck in an IHG (Holiday Inn) timeshare and unsure how to get out.
The good news? You may regain peace of mind by cancelling your timeshare in several ways. This guide will take you step-by-step through the process of cancelling your IHG timeshare.
So take a cup of coffee, relax, and let’s get started on your timeshare freedom plan.
Rescind Your IHG (Holiday Inn) Timeshare Contract
The Rescission Period: Cooling-Off Period
Did you know that timeshare contracts come with a “cooling-off” period? Within a certain period of time, typically a few days after signing, you have the legal right to cancel the contract if you are not settling with it. The rescission period is a safety net for timeshare owners because they can cancel it without indulging in any complex process.
Verify the rescission period in your contract if you recently bought an IHG timeshare. The rescission period lasts for 3-10 days. You must send a formal cancellation letter to IHG (Holiday Inn) via certified mail to cancel your timeshare. Include a clear declaration of your intention to cancel with your contract details.
Pro tip: If you want to cancel your IHG (Holiday Inn) timeshare, hurry up. Avoid putting things off till the last minute! Visit Timeshare Exit Advice and contact our team for the best exit option.
Negotiating Directly with IHG (Holiday Inn)
Can You Talk Your Way Out?
Many timeshare owners panic when they hear they are out of the rescission period. Remember that the rescission period is one way to get out of your timeshare. If the rescission period has passed, don’t lose hope; try the other ways.
You can directly negotiate with the IHG resort. Many resorts are willing to negotiate, especially if you are facing financial hardship. Explain your situation and discuss every detail. The resort might discuss buyback programs or deed-back options with you, such as where they take the timeshare.
Important Alert: Remember, resorts want to avoid bad publicity. Contacting the IHG directly is a good option for those with extensive knowledge of timeshares and the cancellation process.
These timeshare companies can unknowingly indulge you in complex ways that prolong your case, and you end up only paying the charges. We advise hiring a legitimate timeshare exit company or a lawyer for a smooth timeshare cancellation process.
Selling The Timeshare
Is Selling Your Timeshare A Viable Option?
The owner is fed up with the complex cancellation process and thinks selling the timeshare is an easy way out. Let’s be honest. We all know how difficult it is to sell a new item and how people doubt purchasing second hand items.
Your timeshare is also a secondhand item in the resale market. The market is flooded, and timeshares sell for a fraction of their original price.
List your timeshare on reputable platforms like eBay or Timeshares.com if you decide to sell.
- eBay: You can auction your timeshare or list it at a fixed price.
- Timeshares.com: A dedicated platform for timeshare owners to sell or rent their properties.
If you find selling a difficult option, find out how to rent your timeshare.
Stop Paying Maintenance Fees (Risky Option)
Some timeshare owners think that stopping paying maintenance fees will get them out of the timeshare. Little do they know that this act leads to complex problems and penalties.
To avoid committing such mistakes, it is better to have knowledge of the timeshare industry and policies. Cancelling an IHG timeshare is not a cup of tea; seek professional advice for a way out.
The risks involved in stopping payments are as follows:
- Damage your credit score,
- Affect your reputation,
- Result in legal action from the resort and
- In some cases, the resort might foreclose on your timeshare.
Instead of opting for risky ways, visit Timeshare Exit Advice’s various ratings and reviews of timeshare exit companies, learn how to avoid and pick the best timeshare exit company for your timeshare exit needs.
Hiring A Timeshare Exit Company
Should You Trust the Pros?
Owners tired of the complex cancellation process unquestionably hire a timeshare exit company. Owners trust whatever the company says. Beware that Timeshare exit companies specialize in helping owners cancel their contracts. As this is their daily work, they can negotiate with the resort on your behalf, handle the paperwork, and guide you through the process. Sounds great, right?
Well, not so fast. While legitimate companies exist, the industry is full of scams. Some companies charge extra fees and deliver little to no results.
If you decide to hire an exit company, do your homework. Look for a reputable company with positive reviews and a proven track record. And remember, if something sounds too good to be true, it probably is.
Avoid Timeshare Resale Scams
Don’t Get Caught in the Trap
As we all know, the timeshare industry has lost its reputation due to scams. Because of these scams, good timeshare exit companies are also facing backlash. These scams often involve companies that claim they can sell your timeshare for a high price but disappear with your money.
Or they will charge you fees and prolong your cancellation. In other words, the timeshare exit industry is full of scams and lies. Learn about timeshare exit scams and educate yourself.
Here’s how to spot a scam:
- They ask for upfront fees.
- They pressure you to make quick decisions.
- They make unrealistic promises.
- They do not support Escrow payments.
Protect yourself by thoroughly researching any company before signing anything. It is better to trust your instincts. When you are in doubt about any company, just walk away. Or you can always trust Timeshare Exit Advice, your ultimate timeshare exit resource!
Final Thoughts
Whether you decide to rescind or cancel your contract, the key is to make an informed decision.
Suppose you are in a hurry to get out of the IHG timeshare. In that case, hiring a timeshare exit company is better than committing mistakes alone. At Timeshare Exit Advice, we specialize in helping timeshare owners understand the process of exiting their contracts, learn about timeshare exit companies by reading various reviews, and educate themselves on scams.
Life’s too short to be tied down by a timeshare you no longer want. Isn’t it time to break free? Let Timeshare Exit Advice guide you every step of the way.
Can I cancel my IHG timeshare after the rescission period?
Yes, but it’s more challenging. You will need to explore options like negotiating with the resort, selling the timeshare, or hiring an exit company.
How long does it take to cancel a timeshare?
It depends on the method you choose. Rescinding a contract can take a few weeks while selling or negotiating might take months.
Will cancelling my timeshare affect my credit score?
It depends on how you cancel. Stopping payments can hurt your credit, but other methods, like selling or negotiating, are easy options.
Are timeshare exit companies worth it?
Some are legitimate, but many are scams. Do your research and avoid companies that demand upfront fees.
Is IHG also a part of scams?
You cannot trust any timeshare exit company. As the industry is full of scams, prefer choosing a company that supports Escrow.
