President Obama, U.S. Congress: Allow timeshare owners to get out of their lifetime contracts
Timeshare companies subject consumers to high pressure sales tactics that convince people that buying it is a good idea. Once the shine wears off the owners find that they have a timeshare worth no money, ever increasing maintenance fees, and that they have no power to end their contracts.
Many timeshares lock owners into Lifetime Contracts that require maintenance fees for the life of the owner. The “owner” has little power in these agreements and cannot break the contract. If the owner stops paying the fees, every non-payment results in a ding to their credit. Most timeshare companies refuse owners an out to their agreement and the owner must sell or give away their timeshare (typically at a further loss) to get rid of it. That leaves the next person with the same issue! A timeshare should not be required to be passed from person to person like a virus to get rid of it! These companies are bleeding people dry and this needs to stop!
You can try to sue to get out of the contract but there are no guarantees, and if you do find a non-profit that will take it usually costs you several thousand dollars out of pocket. This situation has also created timeshare sales companies that ask for money up front and are not required to actually sell your timeshare.
If one party in a contract wishes to break a contract, there should be a means of doing that! These companies KNOW they are not a good value and this is why they have eternal contracts – people can get out of a marriage easier than they can get out of their contracts! Require annual or 2-year resigning agreements so that people can choose not to re-up!
With the internet as it is today, the United States are more united than ever. We are petitioning federal officials as this needs to be a policy change on a federal level- HELP US MAKE THIS CHANGE!
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