Breaking RCI purchase done in Las Vegas

[philpisch]

They say what happens in Vegas stays in Vegas... Well, my wife and I had no intention of doing a time share. My dad and family has had a great experience with a Marriott / Interval International timeshare in florida. But, my wife and I were just going to learn about it (and get free show tickets).

Someone we bought. We were dead set against it before. But I'm not sure if we were hung over or what.

Tonight, I just read of the five day recinding timeperiod. Not good as it is eight days later.

Can anyone make any recommendations? We are not in any financial state to do this right now. Heck we are just trying to avoid bankrupcy and hope to soon have enough to buy health insurance. We're really on the edge and this is not the right time to have a timeshare.

Is there anyway out? Any advice would greatly help.

 

[djs]

Unfortunately, since you are beyond the rescission period, you likely are going to have to learn how to best use your timeshare (you'll get lots of advice here).

Do you know if weekends/holidays count in the number of days for your rescission? Does the day of purchase count? If the answer to both of those questions is "no" then depending on when you purchased this you might have a day left.

 

[Ron98GT]

The TS rescission periods are set by state law (NV NRS645). Looks like NV's is 5 calendar days.
"
NRS 119A.410 Right to cancel contract of sale.
1. The purchaser of a time share may cancel, by written notice, the contract of sale until midnight of the fifth calendar day following the date of execution of the contract. The contract of sale must include a statement of this right.
2. The right of cancellation may not be waived. Any attempt by the developer to obtain a waiver results in a contract which is voidable by the purchaser.
3. The notice of cancellation may be delivered personally to the developer or sent by certified mail, return receipt requested, to the business address of the developer.
4. The developer shall, within 15 days after receipt of the notice of cancellation, return all payments made by the purchaser.
"

 

[LAX Mom]

As mentioned by others, you are probably stuck with this purchase. It's likely worth about 10% (or less) of what you paid for it.

Did you finance the timeshare? Unfortunately it's impossible to sell unless it's paid off.

I would suggest you contact the developer immediately and explain your situation. Most likely they won't work with you, but it's your only hope to get out of this.

Which timeshare did you buy? How much? If you tell us what you bought, some on this board might have some suggestions.

TUG is a great resource. If you're stuck with the purchase hopefully you can figure out how to make this purchase work for you. Ask questions & learn about what you have purchased. Many on these boards also purchased from the developer before they learned about resale timeshares. Welcome to TUG.

 

[Passepartout]

This may just be the thing that tips the OP to a bankruptcy. Actually that 'fresh start' might be the thing they need to get their financial legs under them. Today BK requires financial education before anything is discharged.

Then of course, he can hang around here. Learn to use what he obviously saw value in in Las Vegas. He's not the first TUGger by a long shot who bought retail- some of (us) did it twice or more.

Good Luck!

Jim Ricks

 

[DeniseM]

I find it interesting that the OP is near bankruptcy, and doesn't have the money for health insurance, but they were on vacation in Las Vegas?

 

[Ron98GT]

Also strange is that they had good exprience with Marriott/II TS in Florida, but wants to break a "RCI" contract purchased here in LV? RCI?

 

[AwayWeGo]

Luck, Be A Lady Tonight.

I find it interesting that the OP is near bankruptcy, and doesn't have the money for health insurance, but they were on vacation in Las Vegas?

Well, it is possible -- not at all likely, but possible -- to win big enough at the tables to pay off all debts in full, plus state & local & federal taxes, not to mention covering lifetime health insurance.

Full Disclosure: We lost $2 playing Las Vegas slots last week -- after being up 75¢ at 1 point. So it goes.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[Ron98GT]

Well, it is possible -- not at all likely, but possible -- to win big enough at the tables to pay off all debts in full, plus state & local & federal taxes, not to mention covering lifetime health insurance.

Full Disclosure: We lost $2 playing Las Vegas slots last week -- after being up 75¢ at 1 point. So it goes.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

Come back and lose some more. We don't pay a state income tax thanks to you losers, err I mean gamblers who lose. :hysterical:

 

[Rent_Share]

Also strange is that they had good exprience with Marriott/II TS in Florida, but wants to break a "RCI" contract purchased here in LV? RCI?

My dad and family has had a great experience with a Marriott / Interval International timeshare in florida. But, my wife and I were just going to learn about it

I had difficaulty taking the OP serious when he stated on the brink of BK and cannot afford health insurance but can travel to Las Vegas to Vacation

 

[DeniseM]

Well, it is possible -- not at all likely, but possible -- to win big enough at the tables to pay off all debts in full, plus state & local & federal taxes, not to mention covering lifetime health insurance.

Full Disclosure: We lost $2 playing Las Vegas slots last week -- after being up 75¢ at 1 point. So it goes.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

I try that on a regular basis, but it's not working for me!

 

[Ron98GT]

I had difficaulty taking the OP serious when he stated on the brink of BK and cannot afford health insurance but can travel to Las Vegas to Vacation

Actually, that part doesn't seem unusual to me, people do it all the time, although it may not be the most practical or logical thing to do.

But:

Quote:
Originally Posted by Ron98GT
Also strange is that they had good exprience with Marriott/II TS in Florida, but wants to break a "RCI" contract purchased here in LV? RCI?


Quote:
My dad and family has had a great experience with a Marriott / Interval International timeshare in florida. But, my wife and I were just going to learn about it

First, if they can't afford a TS, why are they even "learning" about them?
Second, why couldn't they "learn" about their fathers, with his assistance?
Third, if the've had a good experience with Marriott, why didn't they go to the Marriott Grand Chateau to learn?
Fourth, RCI doesn't sell TS's?
Fifth, how did they get financing?
Sixth, time to move on, I'm done with this thread

 

[LAX Mom]

I don't think OP purchased at Grand Chateau. He states that his father owns Marriott, but he doesn't name the property he purchased. If it trades with RCI it's not the Grand Chateau.

 

[djs]

The problem here is that some of the salespeople are just plain good at what they do. Went for a freebie and got wowed into buying.

"Just pay $xxx per month and you can have years of fantastic vacations to places like Hawaii, Europe, heck you can even go to Tahiti with this; you'll have so many great memories once you have kids and get to bring them to Disney...."

but won't it be hard to exchange if we can only do it during school vacations?

"....exchanging is easy, you are buying a super-duper red/prime week heck if I didn't already own 4 weeks I'd buy another at this price..."

Next thing you know, your new best friend has convinced you that spending $15,000 on something you could get for free here is a good idea.

 

[BevL]

Grandview, I'd guess. Very agressive marketing, I think.

 

[am1]

This is not a unique situation. Happens everyday.

All owners should hope it stops as this causes mfs to go up and trading power of old resorts goes down.

A new shiny timeshare is an easy sell.

 

[markel]

Actually, that part doesn't seem unusual to me, people do it all the time, although it may not be the most practical or logical thing to do.

But:

Quote:
Originally Posted by Ron98GT
Also strange is that they had good exprience with Marriott/II TS in Florida, but wants to break a "RCI" contract purchased here in LV? RCI?


Quote:
My dad and family has had a great experience with a Marriott / Interval International timeshare in florida. But, my wife and I were just going to learn about it

First, if they can't afford a TS, why are they even "learning" about them?
Second, why couldn't they "learn" about their fathers, with his assistance?
Third, if the've had a good experience with Marriott, why didn't they go to the Marriott Grand Chateau to learn?
Fourth, RCI doesn't sell TS's?
Fifth, how did they get financing?
Sixth, time to move on, I'm done with this thread

To me, only two (maybe three) of your six points make sense.

#1- I'm sure that they are not the only ones who can't afford a TS who are inquisitive.
#2- I own one TS. Wynham points bought resale 10 years ago and paid a whopping $1000 for them. At that time, GREAT deal, in today's market well everyone knows. My father has spent a ton of money purchasing TS's from the developer, EVEN AFTER I educated him on resale. A whole other issue !!
#3- can't comment on this one as I know nothing about Vegas TS's
#4- common knowledge for most but who knows what they were told
#5- the TS salesman will find even those with possible poor credit a way for financing
#6- your choice to move on.

In the end, it appears that they are stuck with this as many others are. I wish the OP well.

 

[natasha5687]

Why are people judging

The OP came here for help not to be judged. So what he cant afford health insurance and is on the brink of a BK. If I took my mom on vacation she may have been roped into buying if I werent with her. She cant afford vacation and is on a very fixed income. Let's stop judging and get back to being TUGGERS. TUG was meant to educate people. Why hasnt anyone told the OP to at least try to see if they can rescind...he may have to do some begging but it may or may not be too late. I have seen stories on TUG where people rescinded after a few months with success.

 

[JeffW]

... I have seen stories on TUG where people rescinded after a few months with success.

Could you provide a reference for that? I'd be surprised if you find a timeshare that that does a recision 1 day past the time period, let alone a few months. If you sold your house to someone, would you allow the new owners to cancel it a few months later?

In terms of the 'attitude' some respondents may seem to have towards the OP, part of that may be due to the facts that he listed seem incomplete, to downright incorrect. He listed "Marriott" and "RCI", but the two don't go together. Did he buy Marriott (Grand Chateau)? If so, that's II. If it's another resort that affiliated, which one? I'd assume that if at least the correct resort name is posted, maybe some people might know if it's more lax, or very strict, with recision.

And I know this will come across as sarcastic, but to the OP: if you're bordering on bankruptcy, you're savings towards getting health insurance, and you "might have been hung over" when you bought the timeshare (and with something going on, that it took you 8 days to look at the contract), I'd strongly advise you find a better way to make financial decisions. You might do wise to stay away from anything where a significant purchase price is involved.

Jeff

 

[ampaholic]

Well, it is possible -- not at all likely, but possible -- to win big enough at the tables to pay off all debts in full, plus state & local & federal taxes, not to mention covering lifetime health insurance.

Full Disclosure: We lost $2 playing Las Vegas slots last week -- after being up 75¢ at 1 point. So it goes.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

We hired a new guy who had just come back from Vegas.

I asked how he did there - he won $47,000 playing poker!

So I asked what he did with it (investment wise) - much to my surprise:

He paid cash for two timeshares at the Grandview !!!!!!! :hysterical: :rofl: :hysterical:

I quietly asked how long ago - two weeks (past any rescission).

So I just keep my mouth shut (hard) about the Grandview I bought for $77 on eBay.

Moral: Sometimes money is easy to get, sometimes it is hard - but it's always easy to get rid of.

 

[djs]

I have to agree with Natasha on this one. The OP came here trying to find out if there was anything he could do. Just about everyone has been unable to have anything helpful to say to the OP (as it relates to this particular timeshare purchase). I'm pretty sure the OP realizes he made a big mistake; he surely doesn't need 20 faceless people from TUG reminding him of that fact.

And to think, I initially thought my first response to him was a little harsh.

 

[markel]

I have to agree with Natasha on this one. The OP came here trying to find out if there was anything he could do. Just about everyone has been unable to have anything helpful to say to the OP (as it relates to this particular timeshare purchase). I'm pretty sure the OP realizes he made a big mistake; he surely doesn't need 20 faceless people from TUG reminding him of that fact.

And to think, I initially thought my first response to him was a little harsh.

Hey,

I hope I'm not one of the faceless people you are referring to?? Just kidding. I hope my earlier post verifies what I believe. I'm on the OP's side. Life is tough and I agree that we should all be here to help them in any constructive way that we can.

Mark

 

[DeniseM]

Why hasnt anyone told the OP to at least try to see if they can rescind...he may have to do some begging but it may or may not be too late. I have seen stories on TUG where people rescinded after a few months with success.

I'm sorry, but I don't think you have seen that. I don't know of any way to rescind outside the legal rescission period, and that's why no one has suggested it.

This is the deal - if you come to TUG and list your financial problems, you better expect to get feedback. If no one violates the TUG posting rules - and no one did - that's perfectly OK.

Maybe a reality check will help the OP look at the big picture - and that would be a good thing. I don't see how giving him a free pass will help him at all. YMMV

 

[Ron98GT]

To me, only two (maybe three) of your six points make sense.

#1- I'm sure that they are not the only ones who can't afford a TS who are inquisitive.
#2- I own one TS. Wynham points bought resale 10 years ago and paid a whopping $1000 for them. At that time, GREAT deal, in today's market well everyone knows. My father has spent a ton of money purchasing TS's from the developer, EVEN AFTER I educated him on resale. A whole other issue !!
#3- can't comment on this one as I know nothing about Vegas TS's
#4- common knowledge for most but who knows what they were told
#5- the TS salesman will find even those with possible poor credit a way for financing
#6- your choice to move on.

In the end, it appears that they are stuck with this as many others are. I wish the OP well.

OK, lets try this again what timeshare in Las Vegas is RCI?

You can pick on me all you want, but I'm the only one who answered his question. Read Post # 3

:deadhorse:

 

[natasha5687]

Its a little late but I will go back and add the links to the posts that I am speaking of. I saw one just the other day. In any event we are not here to make assumptions. We are here to help. It's not only none of our business what he was doing on vacation it isn't relevant to his current situation.To all who had something constructive to say, you are the reason I joined TUG.