To say that you are in a financial dilemma would be an understatement.
Your husband want to take a new job, but he owes money to a 401K that he has borrowed from. If he leaves his current job he will only have 60 days to pay that 401K back. You took out a loan from the 401K, however, to help make it through a difficult year when your husband’s commissions were much lower than you expected. The lower commissions, combined with a timeshare payment that is more than you can afford is causing enormous amount of stress. Your husband wants to take a new job offer because this position will pay significantly more, but he has to find a way to pay back the 401K loan.
In a last ditch effort to turn things around you have recently started working with some timeshare lawyers. You have asked them if there is a way for them to help you figure out how to cancel timeshare after grace period. You know that there is only a slight chance that they will take your case, but you are hoping this is the solution you need. Finding out how to cancel timeshare after grace period can differ from state to state, so it is important to work with experienced timeshare attorneys to have the best chance.
Financial situations change, and it can be a challenge to get the money that you need in a time where the cost of living continues to rise, while salaries do not. Some couples are looking at all kinds of options, like getting rid of their timeshares to help them through difficult months, and sometimes years.
Consider some of these facts and figures about the timeshare industry and the challenge that many people face with contracts:
- 46.8 is the average age of timeshare owners in the U.S.
- Only 3% of U.S. households own a timeshare.
- $20,040 is the average price of a new timeshare.
- 7% of U.S. households, which represents 9.2 million, own one or more types of a shared vacation ownership product, according to the 2016 U.S. Shared Vacation Ownership Consolidated Owners Report.
- 25% of timeshares in America are located in Florida.
- The timeshare industry is a $70 billion industry.
When you finances are stretched to thin that you feel something is going to snap, it is important to find out if you have any option of getting out of a costly timeshare contract.