Timeshare Covid Relief
As many Americans struggle to pay rent due to COVID-19 sequestration mandates, some cities are barring landlords from evicting tenants while many landlords are offering temporary leniency on payments. Unfortunately, the timeshare industry is not as understanding, according to Mitchell Reed Sussman. "They still demand that fees be paid even though the properties are on lock-down."
In an effort to help beleaguered Timeshare owners find relief during this unusual time, Sussman offers some DIY tips:
While it's true that a timeshare contract is a legally binding document, it is mistaken to think that such a contract cannot be cancelled. Contracts are cancellable for a variety of reasons. Ask yourself, 'Was there fraud, misrepresentation and/or failure of consideration involved?"
Are you suffering from a financial hardship and are no longer able to afford your timeshare? If the answer is yes, then call your time share company and see if they are willing to take back their timeshare. Many of the timeshare developers have programs designed for those in financial distress.
If your timeshare company doesn't offer a program, don't despair. It's important to put things into perspective- now more than ever. Take a deep breath. It may not be readily visible to you at the moment, but any experienced timeshare attorney will know after speaking with you what your options are.
Sussman has been practicing law for over forty years and began litigating on behalf of embattled timeshare owners over a decade ago and takes Timeshare companies to court on behalf of his clients as a regular practice. Through the years his firm has helped literally tens of thousands of timeshare owners from all over the world be relieved of their timeshare burdens.
The current COVID– 19 crisis has resulted in a real uptick of cases for the Sussman firm. The reasons are two-fold. First, there is financial pressure on owners who are either out of work or on furlough. Second, many of the resorts are either not open or simply unavailable. But do not despair, there is relief available for those in need. If your timeshare does not have a program for you, look for a reputable attorney experienced in this field. Most of all, do not give up hope. This too shall pass.
About Attorney SussmanMitchell Reed Sussman has been practicing Real Estate and Bankruptcy Law for over 40 years.
The above article is reprinted from Street Insider
If you are struggling with your timeshare, call our office for a free phone consultation to see if you qualify for our timeshare release program: 1-800-233-8521