You had a plan in place.
When your husband was offered a new job, he had a one time window to cash out on the small 401K that he had accumulated during the five years he was with this company. You will use the money, minus the taxes, to take care of the majority of the debt that you have incurred. The much larger 401K will be left untouched, and with the credit paid down you are hoping to get yourself in a better position.
The one thing that would make these times less challenging would be if you could get the answer that you need from the timeshare lawyer. During a time when things were going much better you signed on to a timeshare that was the perfect place for family vacations and holidays away from home. Now, however, now that you are long past the timeshare rescission period you are struggling to make payments on a property that you rarely get to visit any more. Hopefully, the timeshare lawyer will report back that there are options available that will allow you to get out of this arrangement that is causing you more stress and financial burdens that you are able to handle right now.
Even with the best of plans, however, there are some financial situations that are still very difficult to manage.
Consider these statistics about the risk and possibility to cancel timeshare after rescission period and the impact of the timeshare industry on the nation’s economy:
- $70 billion is the current value of the timeshare industry.
- 46.8 is the average age of timeshare owners in the U.S.
- 3% of U.S. households own a timeshare.
- There are a total of 1,547 timeshare resorts in the country, and 3% of U.S. households own a timeshare.
- 25% of the timeshares in the U.S. are located in Florida.
- $20,040 is the average price of a new timeshare in America.
A timeshare contract release is not always possible, but often the only way to understand your options is to consult with a timeshare lawyer. Even when you have the best financial plans, you can still find yourself short of the money that you need to make ends meet if you are tied to an expensive timeshare.
