Unfortunately, there is no straight forward answer. The time it takes to get out of a timeshare contract depends on the complicity of the ownership and the outcome that you are aiming to achieve.
Relinquishing under the grounds that the timeshare was mis-sold or incorrect contracts were used
Terminating the contract under the grounds that the timeshare was mis-sold to you will mean that you can avoid paying the termination fee to the resort. The procedure can vary in duration depending on your situation. The resorts will contest, stating that they acted within the laws of which the timeshares were sold. The more proof that you have, the quicker the termination process will take. The time frame can vary between 4 – 16 weeks but under certain circumstances it could take longer. Aim to start the termination process in this way 4 months prior to the date your next maintenance bill is due.
Relinquishment and claim
For residents of the UK there are several types of claims available which are dependent on how and when you purchased the timeshare. The time frame for claims vary depending on ownership. However, it may be possible to put a block on future maintenance fees whilst the courts come to their decision. Claims from banks or credit providers can be much quicker than court cases.
Arrange a free telephone consultation to speak to a specialist for further and more accurate information regarding your timeshare.
If you would like to find out if you are eligible to claim compensation, please use our free compensation calculator.