Our dedicated lawyers based in the U.S. and legal partners in Mexico will advocate accordingly for your case.

Buying a membership can seem like a sensible and affordable way to vacation with friends and family. But what happens if your finances tighten and your timeshare costs are no longer within your budget?

With a contractual obligation to pay for the shared property, canceling a membership agreement is not as simple as making a few phone calls. Once the salesperson succeeds in convincing a buyer to obtain a membership, it is in the operator’s interest to keep the buyer on board as long as possible.

If you entered into a financing arrangement to acquire the membership, your contract would require that regular payments be made to the bank or loan provider. Similarly, a buyer might be required to pay recurring fees for property maintenance and access to amenities.

However, if you can no longer afford to make the required payments, it might be possible to negotiate a settlement for a release of further obligations with the membership in exchange for payment. If you are able to successfully settle your timeshare debt, you can potentially avoid serious collection activity such as a lawsuit to collect the arrears or even a foreclosure action. If you want to learn more about breaking your membership contract due to financial hardship, contact our debt relief firm today.