How to Get Out of a Timeshare Without Ruining Credit

how to get out of a timeshare

Timeshare ownership can give you so much over the years. A lifetime of vacations in exciting destinations, the added convenience of not having to constantly book hotels, and plenty of other benefits depending on what vacation club membership you have. With that said, sometimes vacation ownership isn’t quite right for you. Whether it’s due to a change in your lifestyle or financial hardship, there’s nothing wrong with deciding to part ways with your timeshare. If you’re ready to move on from your ownership, there are a few things you may want to know. While it is possible to navigate the timeshare industry safely, there are also bad actors out there who can cause you to damage your credit. Fortunately, we’re here to help! Here’s how to get out of a timeshare without ruining credit.

Before You Decide to Sell Your Timeshare

Is a timeshare a scam

There are a few options all timeshare owners should consider before making the decision to make the big decision. First, ask yourself if your problem is that you’re no longer interested in this specific property. If that’s the case, depending on your resort company, there may be a solution! Many vacation clubs, like Hilton Grand Vacations, offer a points-based program. With these programs, you have a home resort you can visit, but you’ll also have access to plenty of other resorts from that brand. Depending on your resort company, you could also take advantage of a vacation exchange program. These programs allow you to trade your points or weeks for a stay at one of thousands of other resorts around the world in a vacation exchange network.

Do you like your ownership but feel guilty about not using it each year? If so, there’s another option all timeshare owners should know about. You can rent out your vacation ownership for years when you’re not using it. That way, you’ll be able to put some money back in your pocket and help pay off the annual maintenance fees for the property. This way you can avoid the guilt of feeling like you’ve “wasted a year” while paying those fees off. Plus, you’ll be able to go back to the resort for years where you want to.

How to Get Out Of A Timeshare

Finding the best way to get out of a timeshare may feel difficult. Understandably, timeshares are usually bought with the intent to own them for a lifetime. So, if the time comes that you’re ready to get out, the search for answers can seem daunting. Luckily, we know ways to get out of your ownership. Most of them require a little bit of work on your part, like calling your developer or selling it on the resale market.

When looking for options to get out, remember that if you miss payments on your maintenance fees or loan, it can hurt your credit score. This is something we want to avoid so it won’t affect any big purchases you make in the future. Let’s dive into how to get rid of your timeshare—without ruining your credit.

Talk to your developer about buying back your property

man using laptop at desk for timeshare search

Some developers and resorts may be willing to work with you on buying back your ownership or allowing you to give it back to them. There is no guarantee, depending on your timeshare contract it may be worth seeing what you are able to find out with a quick call to your home resort.

Most of the best major brands and vacation clubs in the industry are members of ARDA, the American Resort Development Association. If you didn’t know already, ARDA aims to protect all parties of the timeshare industry—including owners! Your developer or club is likely also a part of the Coalition for Responsible Exit, where you can find your club’s recommended resale or exit options.

Wyndham, for example, offers the Wyndham Cares program, which is a free resource to help their owners with questions on where to turn if they need options on how to get out of their timeshare. They also offer Certified Exit—Backed by Wyndham. In some cases, Wyndham will take back your timeshare for qualified owners.

Gift your timeshare to a family member or friend

Instead of getting out of your ownership by selling it or giving it back to the developer, you may have someone in your circle who wants it! Millions of families love their timeshares because of their flexibility, supreme accommodations, and outstanding experiences. Give the greatest gift of all with vacations to a friend or family member. Keep in mind, that if a loved one takes over the timeshare agreement, they will also be taking over the payments as well.

Can I Cancel My Timeshare Contract?

Timeshare Exit Companies

There are services out there where timeshare exit companies will work with you and the resort developer to cancel your timeshare. While they promise to help you, it can be tricky to know which companies to avoid. What’s more, it’s quite often that groups calling themselves a timeshare exit company will tell you that they will take over the payments of your ownership and this might not be true.

If a timeshare cancellation company tells you to stop paying annual fees, be careful. You should keep paying those fees until you receive direct confirmation from your resort developer or resort that the timeshare is no longer in your name. As a result of not making payments, your credit will be harmed. Keep this in mind when speaking to a timeshare cancellation company. While being able to get rid of your timeshare contract like this may seem appealing, exit companies are usually more trouble than they’re worth.

The Rescission Period

At the end of the day, you can’t just cancel a timeshare contract. In the same way, you can’t get rid of mortgage payments, timeshare contracts are meant to be binding. If you’re a timeshare owner, the only way you can really get rid of your ownership by cancellation is if you are within the rescission period. This can vary from state to state, but in the vast majority of cases, the rescission period is within the first days or weeks of you purchasing a timeshare from the developer. During this time when you’ve recently purchased a timeshare, you would be able to cancel the contract and get out of the timeshare ownership if you changed your mind.

Learn more: Timeshare Exit Scams All Owners Need to Know.

Post your timeshare for sale


Over the last two years, the vacation industry has benefitted from a massive boom. More people than ever have started vacationing, which means more people are interested in vacation ownership. As hotels are being massively impacted by inflation with high rates and sold-out nights, timeshares have proven that they are the better option. People are more interested now than ever in vacation ownership—one of the many reasons to look into selling.

In any event, you can rent your timeshare while you wait for someone to buy it. In 2022, over $2.7 billion was generated in rental revenue in the United States according to ARDA’s AIF report. If you’re looking to get rid of your resort ownership, one of the best options is to sell it. In fact, if you’re looking to say goodbye to your timeshare, selling it is a great exit strategy. Plus, it’s one that won’t harm your credit report.

Keep Your Expectations in Check

Keep in mind that timeshares are not an investment. Much like other luxury products like cars, the value of the property will decrease over time. As a result, it’s important to keep your expectations on how much you can sell the property for in check. It is very rare to get back what you originally paid, but many buyers use timeshare resales to dip their toes into vacation ownership, while experienced owners use the market to add to their ownership at a lower price. So, if you’re looking to get rid of your ownership and stop paying those maintenance fees, selling is a great way to do so.

Get Out Of Your Timeshare With Timeshares Only

sell and use voyager pass to visit properties

If you’ve weighed out all of your options and decided you still want to get out of your timeshare ownership, Timeshares Only can help! We’ve worked in the resale market for over 20 years, and as a member of ARDA, we follow a strict set of ethics that helps to keep everyone in the industry safe. Click on the link below to take the first steps to sell your timeshare. Or, if you’d prefer to hold onto it while paying off your annual maintenance fees, we can also help you rent out your timeshare.

Either way, we’ll use our state-of-the-art marketing strategies to promote your vacation ownership to potential timeshare owners around the world. So whether you want to get rid of your timeshare or just want to help pay off your maintenance fees, when you work with Timeshares Only, you can rest assured you’ll be in good hands. Still have questions? No problem! Whether it’s about fees, your home resort, or anything else related to a timeshare purchase, we’d love to help! Please give our timeshare experts a call at 1-800-610-2734 or email us at [email protected].

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