Do you find yourself stuck in the Geo Holidays timeshare product? Do you want to get out? If these queries represent your problems, you’re not the only one! Others have also gone through the same issues.
To elaborate, many timeshare owners get stuck into inflexible obligations that stretch throughout the years and come with growing maintenance costs and the base fee. For this reason, they often search for ‘how to exit Geo Holidays timeshare.’ If you’re one of them, do not worry; we’ve got your back here.
In this blog post, we’ll give step-by-step guidance on all the options you can use to get out of Geo Holidays timeshare commitment. Remember that you may find it tricky to exit a timeshare contract at first. But we assure you that doing so is not impossible. So, let’s get into the details to help you make the best decision for your situation.
The Step-by-Step Guidance on How to Exit Geo Holidays Timeshare
After researching the web and reading others’ opinions, we’ve compiled six steps to help you easily learn the various ways to exit Geo Holidays timeshare. So, let’s explore each individually!
Step 1: Look at the Contract Details
To begin, failing to understand the terms of a timeshare contract is one sure way of losing money. So, to ensure you don’t lose money, read your timeshare contract.
The first order of business is to gather all pieces of information. In other words, each timeshare comes with its own set of policies. Some contracts feature a rescission or cooling-off period. This term simply means that there is a limited time frame during which you can choose to cancel a deal or payment without having to deal with any penalties. But if a cooling-off or rescission period has passed, you should try other strategies to really get out ofthe Geo Holidays timeshare agreement.
Fortunately, many contracts include cancellation, deed-back, or resale programs, which allow you to get out legally without hassle or consequences. So, if those options are available, that would be fantastic! But if you can’t find clear instructions, try the next steps shared here.
Step 2: Contact Geo Holidays and Ask About Exit Options
If the first step of this ‘how to exit Geo Holidays timeshare’ guide doesn’t apply to your use case, you should approach the club directly. Why?
Well, simply because some timeshare companies offer an official deed-back program, where they take back ownership in exchange for a cancellation agreement. However, according to some sources, several owners have reported that Geo Holidays does not have a formal surrender program. So, it’s still worth giving it a shot.
Let’s suppose that Geo Holidays allow cancellations. In that case, you must get everything in writing, including the confirmation that you’re no longer responsible for maintenance fees.
Step 3: Try to Resell or Transfer Your Timeshare
If Geo Holidays doesn’t offer an exit program, you may be able to give away or sell your timeshare. How? Well, you can do the following:
- Donate it to a charity, though many organizations won’t accept timeshares due to ongoing fees.
- List it on resale websites, such as the following:
- Offer it to friends or family who may be interested in vacationing at a discount.
- Work with a licensed timeshare resale broker. However, be cautious, as many resale brokers charge high fees.
Although selling or transferring is a way toexit the Geo Holidays timeshare agreement, it is important to note that this method is rarely profitable. More often than not, people only transfer their timeshare to someone else to get rid of the financial responsibility tied to it.
Step 4: Search for a Timeshare Exit Company You Can Trust
Now, let’s consider a case where selling isn’t possible. In this case, there are timeshare exit companies that will assist you in canceling your contract by analyzing your agreement and finding gaps. However, you also need to be careful of these issues:
- Avoid companies that guarantee quick cancellations because the typical procedure for exiting Geo Holidays timeshare takes time.
- Select a company that offers an escrow payment option. This way, you don’t have to pay upfront.
- Look for BBB accreditation and positive reviews to decrease the likelihood of avoiding scams.
Step 5: Consider Defaulting (As a Last Resort)
There may be cases where people have exhausted all the options, yet they couldn’t find a way to exit Geo Holiday timeshare. In such circumstances, stopping your payments is your last resort to get out of the Geo Holidays timeshare agreement. How will this work?
Simply put, Geo Holidays may eventually foreclose your timeshare if you stop paying maintenance fees. They will take it back. However, this approach has risks like the following:
- Credit damage, which means that the company may report non-payment to credit agencies.
- Debt collection, which means that you may receive calls from collection agencies.
- If Geo Holidays decides to take legal action, you could face additional fees.
For this reason, if you’re considering using this step, experts recommend considering a legal professional first. Doing so will help understand the potential impact.
Step 6: Seek Legal Assistance
Let’s say that you don’t want to consider defaulting at all, and you’ve already tried the rest of the above-mentioned strategies, but none of them worked. In that case, seeking legal assistance is the only way to exit Geo Holidays timeshare.
This method will work, especially if you suspect that Geo Holidays misled you during sales. So, in such a situation, a timeshare attorney may be able to help. Why?
That’s because some legal professionals specialize in contract disputes. Hence, they can identify if your contract contains deceptive or unfair clauses. In such circumstances, a simple demand letter from a lawyer may push the company to negotiate an exit.
Final Words on the Various Ways to Exit Geo Holidays Timeshare Agreement
To sum things up, exiting a Geo Holidays Timeshare isn’t always easy. But it is possible if you take the proper steps. So, start by reviewing your contract and contacting Geo Holidays. If that doesn’t work, explore resale options or consider hiring a reputable exit company. In extreme cases, defaulting or legal action might be necessary. But such extreme measures should be your last resort. Remember that the key is to act carefully and strategically and show patience and persistence because that’s the only way to find the best way to free yourself from your timeshare commitment. Also, avoid scammers who promise quick exits for upfront fees.
