Thanks for the chance to help. I am an attorney with over 12 years experience. Hopefully I can help you with your legal question.
I am very sorry to have to bear bad news. You are a few days late. NC law provides
of sale is voidable by the purchaser for five days after the execution of the contract.
So had you notified the seller, in writing, within 5 days? You could have walked away without recourse.
But since more than 5 days have passed? The law that allows you to void the contract no longer applies
If you have a contract with a timeshare company, your obligated to the contract.
The best way to "get out of this" is to either
1. Sell the interest to someone else so you can pay off the debt
2. negotiate with the company to cancel the contract...perhaps you can get them to take back your interest if you pay them...sometimes this is possible...but its up to the company to agree or not.
Short of that, you have limited options. You can stop paying...but if you do, then understand the company could sue you for breach of contract
and take steps to garnish (take) your income or assets.
There is no "magic bullet" for these contracts...the timeshare companies are having as hard a time as anyone in this down economy...they are struggling to keep alive...and will do what they can to force you to pay this contract. The best way to resolve is to negotiate with them to resolve.
You can consider bankruptcy as well...though that is a fairly extreme step to deal with a timeshare...it would remove the debt.
Please let me know if you have more questions...happy to assist if I can