Are you searching for help with your Starwood timeshare cancellation? Well, then, you’ve come to the right place. Unfortunately, numerous owners are worn out from their Starwood Vacation Ownership.
Some say they’ve even felt cheated, forced, or had no clue what they’ve signed up for. In addition, like you, they need a way out. As time passes, being a timeshare owner may not be economical for you and your family. Furthermore, we can’t neglect how expenses will continue to rise.
Why Starwood Timeshares Are a Problem
Before tackling the cancellation process, it’s necessary to understand why so many owners are eager to exit their Starwood timeshares.
Starwood Timeshares, one of the largest timeshare companies globally, has faced criticism for its high-pressure sales tactics, dishonest promises, and ever-increasing fees. Here are some of the most common issues owners face:
Rising Maintenance Fees: Starwood timeshare owners often see their annual maintenance fees increase year after year, and most of the time, they do so without warning. These fees can quickly become unmanageable, especially for retirees or those on fixed incomes.
Inflexible Booking Systems: Despite promises of flexibility, many owners struggle to book their desired dates or locations. The system often prioritizes new buyers, leaving long-time owners frustrated.
Negative Sales Tactics: Cabo Villas is known for its high-pressure sales displays, which often include misleading claims about the investment potential and resale value of timeshares.
Difficulty Reselling: The secondary market for Cabo Villas timeshares is oversaturated, making selling or renting your timeshares nearly impossible without a significant loss.
Opacity: Many owners feel misled about the long-term financial obligations and restrictions tied to their contracts.
Read How to Get Out of a Timeshare?
Starwood Vacation Ownership
For those familiar with Starwood Vacation Ownership, it goes back to 1969 when it operated as the Starwood Hotels and Resorts. Here are some facts about them:
- Officially made by the real estate venture company Starwood Capital, it was referred to as Starwood Lodging at the time.
- At first, they owned a few hotels in North America, but they were under various brand names. Westin Hotel Company was bought in 1994 from Aoki Corporation of Japan. They gained the Sheraton, Four Points by Sheraton, and the Luxury Collection brands from ITT Sheraton in 1998.
- 1999 is when Starwood launched its “W” Hotels brand. Starwood then revealed the creation of Aloft, a new brand based on the W. This was a somewhat essential year since CEO Barry Sternlicht stepped down in 2004 to be prevailed by Steven J. Heyer. Mr. Sternlicht was not very fond of Heyer’s management style.
- And as tension proceeded for the next 10 years. Starwood Hotels and Resorts saw a change in management a few times more. It wasn’t until November 2015 when Marriott International bought Starwood for an astounding $12.2 billion. Up to this day, they are the owners of Starwood Vacation Ownership.
Rescind Your Starwood Timeshare Contract
You might be in luck if you’ve recently purchased a Starwood timeshare. Most states have a rescission period, also known as a cooling-off period. This is your golden window to cancel the contract without penalties.
Cooling-Off Period
The rescission period typically lasts 3 to 15 days, depending on your state. You can cancel your contract by sending a written notice to Starwood during this time. Be sure to include your contact plus contract details, the date of purchase, and a clear statement that you wish to cancel.
Remember to send your timeshare rescission letter via certified mail with a return receipt. This way, you have proof that Starwood received it.
Negotiating Directly with the Resort
If the rescission period has passed, don’t panic. You can still try negotiating directly with Starwood. Sometimes, resorts are willing to work with owners who genuinely can’t keep up with their timeshare obligations.
Reach out to Starwood customer service and explain your situation. Be honest about why you want to cancel—financial hardship, health issues, or a lifestyle change. While there’s no guarantee they’ll agree, it’s worth a shot.
Selling the Timeshare
If negotiation doesn’t work, consider selling your timeshare. While the resale market isn’t booming, buyers are still out there. You can list your timeshare on reputable platforms like RedWeek or Timeshare Users Group.
Remember that you’ll likely sell it for less than what you paid. Think of it like selling a used car—it depreciates when you drive it off the lot. But hey, getting some money back is better than nothing, right?
Stop Paying Maintenance Fees (Risky Option)
Here’s where things get dicey. Some people consider simply stopping their maintenance fee payments. While this might seem like an easy way out, it’s a risky move. Starwood could take legal action, and your credit score could be hit. Plus, you’ll still be responsible for any unpaid fees. It’s like ignoring a parking ticket—it doesn’t just go away.
Working With A Timeshare Exit Company
Hiring a timeshare exit company might be your best bet if you feel overwhelmed. These companies specialize in helping people get out of their timeshare contracts.
But beware—not all exit companies are created equal. Do your research and read reviews before signing up.
Look for companies with a proven track record and transparent pricing. A good exit company can save you time and stress, but a bad one could leave you worse off than before.
Avoid Timeshare Resale Scams
Speaking of scams, the timeshare industry is unfortunately pierced with them. Run the other way if someone promises to sell your timeshare for a significant upfront fee. Legitimate companies don’t ask for large sums of money before delivering results. Always verify the credibility of any company you work with. Check their Better Business Bureau (BBB) rating for red flags like high-pressure sales tactics or vague promises.
Timeshare Exit Companies and Escrow
Selling Starwood Vacation Ownership can be difficult. Besides, we understand your rescission period is a time-sensitive task. Anybody could miss it if no one uncovered this to you. So, what do you do now?
- The best way to eliminate the Starwood timeshare may be to work with a timeshare exit company. It can’t be just any timeshare exit company, either!
- We only recommend companies that use licensed attorneys to assist you with cancelling your timeshare.
- However, don’t let your guard down just yet. This industry is overflowing with scammers who will promise you a complete Starwood timeshare cancellation and request up-front fees yet may never truly get you out of your timeshare.
- We recommend working with timeshare exit companies that offer only escrow payment options. That way, you can avoid paying any up-front fees!
- Cancelling with an escrow payment option means expenses are paid to 3rd party escrow account instead of the timeshare exit company itself. Find out about escrow and why it’s significant here.
Why Choose Timeshare Exit Advice?
Guiding the timeshare exit process can be overwhelming, but you don’t have to do it alone. Our experts are here to help you through every step of the way.
- Unbiased Reviews: Get honest, in-depth reviews of timeshare exit companies to help you make an informed decision.
- Scam Prevention: Learn how to spot and avoid common timeshare exit scams.
- Expert Advice: Access expert tips and guides to help you understand your options and rights as a timeshare owner.
Cancelling a Starwood timeshare might feel like climbing a mountain, but with the right approach, it’s doable. Whether you’re within the rescission period, negotiating with the resort, or exploring other options, there’s a path forward.
Just remember to tread carefully, do your research, and avoid scams. Your timeshare might feel like a burden now, but you can turn it into a distant memory with a little effort. So, what are you waiting for? Take the first step toward freedom today!
Can I cancel my Starwood timeshare after the rescission period?
Yes, but it’s more challenging. You must explore options like negotiation, selling, or hiring an exit company.
How long does it take to cancel a timeshare?
It depends on the method. Rescission is quick, but other options like selling or working with an exit company can 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 hiring an exit company won’t.
How do I avoid timeshare exit scams?
Research companies thoroughly, read reviews on our website, and avoid providers that demand huge upfront fees or make unrealistic promises.
Can I cancel my Starwood timeshare for free?
You can cancel your timeshare for free within the rescission period. However, if this window has passed, you’ll likely need to hire a timeshare exit company, which will involve fees.
