,

How a Timeshare Contract Can Impact Financial Planning and Your Retirement

Senior couple meeting financial adviser for investment

The economy has changed, and consumers who purchased a timeshare contract within the last fifteen years are facing the challenges of retirement planning, health and long-term medical care.  As Baby Boomers get ready to transition into partial or full retirement, the focus is on minimizing expenses and balancing an annual budget, on a limited income.

If you are in that consumer segment, you have already began to look at your personal finance options and expenses.  How does a timeshare fit into your retirement plan?  Is it a necessity that you are willing to pay for monthly, that will enable you to travel affordably?  Some timeshare contracts and memberships work well for individuals who plan to use them frequently.  If that is your individual circumstance, that is good; but you are part of a very small minority of timeshare owners.

The majority of seniors who have transitioned to part-time or informal retirement, in our experience, find the rising costs of maintenance fees limiting, and even alarming. On average timeshare memberships can increase from 4% or more per annum, meaning that the expense is not a static monthly charge that you can budget for.  Depending on the terms of your timeshare contract, there may not be a cap that limits how much your fees can increase.  Believe it or not, early timeshare owners may have signed into “reasonable inflationary increases” which are not specified.  This means that the timeshare company can increase fees as it chooses, and that is bad news for consumers.

While you are planning your retirement, if you own a timeshare, you are navigating some perilous waters in terms of personal finance.  You are entering into a period of time where you need to be extra careful about your expenses, and you are signed on to an expense that can double within years, at the discretion of the resort or development company.  An expense you can’t predict, and one that could cause significant financial hardship.

Are you ready to uncomplicated your finances for a comfortable retirement?  If you have found that you dislike or are infrequently using your timeshare, now is the time to do something about it.  Since 2001, our legal team has helped families cancel their contract, while avoiding bankruptcy or damage to their personal credit, and move on from the monthly and annual expenses of timeshare ownership.

Start today with a free consultation.  We do not buy timeshares, nor do we sell them.  American Consumer Credit, LLC., specializes in a process that, in twelve months or less, can completely cancel your timeshare contractual obligations, and free up thousands of dollars a year in needless expenses.

Call us at: 1-800-587-EXIT.