Sucked in

[Lori2]

Just arrived back to Canada after a month in Cabo. Got suckered into buying a fractional TS at Diamante resort. Long story short after signing much of the paper work I asked about a grace period to cancel. They had us sign a no refund policy. Which I do not have a copy of.
Talking to a friend who is a realtor in Cabo (no not buying from him ). Says Mexico has a 5 day cancellation period even if the resort does not. He said take the lose of 4K but don't pay the remainder. Says it will not hit my credit in Canada, they will just resell. I will not be tagged at customs if I don't pay.
Does this sound correct. Just don't pay and learn an expensive lesson ? Thanks.

 

[MuranoJo]

Just arrived back to Canada after a month in Cabo. Got suckered into buying a fractional TS at Diamante resort. Long story short after signing much of the paper work I asked about a grace period to cancel. They had us sign a no refund policy. Which I do not have a copy of.
Talking to a friend who is a realtor in Cabo (no not buying from him ). Says Mexico has a 5 day cancellation period even if the resort does not. He said take the lose of 4K but don't pay the remainder. Says it will not hit my credit in Canada, they will just resell. I will not be tagged at customs if I don't pay.
Does this sound correct. Just don't pay and learn an expensive lesson ? Thanks.

Your friend is right- - you have 5 business days to rescind and you should get the full down payment back as well if you do it within the 5 days (postmarked). You don't mention if you're within the 5 days, but if you are, you can still back out and get your refund. They had you sign a no refund policy to bamboozle you--that's why there's not a copy in your paperwork--they cannot do that.

 

[Lori2]

Purchased nov 16. Past our 5 days and I thought once we signed that form we couldn't argue.
I'm willing to walk away and leave the 4K but wonder if it hurts my credit here in Canada

 

[Passepartout]

I think you should get the advice from someone versed in credit laws in Canada. Those 'no rescission' clauses are not legal, even in Mexico. But since you don't have the paper you signed, you can't even go to PROFECO and claim fraud. Too bad. If it were me at this point, I would take the monetary hit and cancel any credit cards they might have. Whatever credit hit you might suffer will probably be less costly than paying for a worthless Mexican vacation club.

You should have read the 'things to know before attending a Mexican TS presentation' sticky in the Mexico forum. Might have saved you all this.

Jim

 

[TheTimeTraveler]

I think you should get the advice from someone versed in credit laws in Canada. Those 'no rescission' clauses are not legal, even in Mexico. But since you don't have the paper you signed, you can't even go to PROFECO and claim fraud. Too bad. If it were me at this point, I would take the monetary hit and cancel any credit cards they might have. Whatever credit hit you might suffer will probably be less costly than paying for a worthless Mexican vacation club.

You should have read the 'things to know before attending a Mexican TS presentation' sticky in the Mexico forum. Might have saved you all this.

Jim

Moral of the story? NEVER attend a Timeshare presentation with ANY credit cards in your pocket!

You can always think things over and return at another time and likely obtain the same (or better) deal.







.

 

[theo]

Purchased nov 16. Past our 5 days and I thought once we signed that form we couldn't argue.
I'm willing to walk away and leave the 4K but wonder if it hurts my credit here in Canada

Signing the form to waive your cancellation rights did not in any way dissolve those rescission rights, even under (...what apparently passes for) Mexican law. That's just what the deceitful sales weasels wanted you to believe so that you would give no further thought to cancelling after signing and departing.
That point is completely academic now however, since the time period to cancel is long past in any event.

I agree with the input you report having initially received to just kiss your deposit goodbye and promptly tell them you are not sending another nickel from this point forward. There will be no consequences for a Canadian citizen with this Mexican RTU contract. The weasels will simply keep your deposit, bid you adieu and sell another (...and another and another) contract to the next lucky "winners" who unwisely walk through their doors while in "vulnerable vacation mode". Consider it an expensive lesson learned and take some solace in the fact that others have lost much more making the very same mistake.

 

[Lori2]

Thank you. Haven't slept all night. I googled so much and have read so many different responses. I'll call my CC and see if they can reverse the charges. Thank you again.

 

[theo]

I googled so much and have read so many different responses. I'll call my CC and see if they can reverse the charges. Thank you again.

I frankly wouldn't get your hopes up. When the dispute is investigated, a contract document bearing your voluntary signature will be easily and promptly produced, so the credit card issuer will have little or no basis on which to side with you and deny processing of the charge. Nonetheless, I sincerely wish you luck.

 

[Lori2]

Would rather be out 4K then 12. I just don't want credit hit.

 

[theo]

Unfortunately, you report having no copy of the (completely invalid) "no refunds policy" document. Production of this document could possibly support invalidation of the entire contract, despite being past the rescission deadline, but without it you frankly don't seem to have much of a case.
It's entirely up to you whether you want to take the time and effort to initiate a formal complaint with PROFECO anyhow.

 

[Lori2]

What is PRODECO

 

[theo]

What is PRODECO

It's PROFECO --- the Mexican entity of pertinent authority which "investigates" complaints of wrongdoing in these timeshare situations.
A search of this site with the word PROFECO (and Google is also your friend here) will provide you with the applicable details and processes.

 

[Karen G]

It's PROFECO --- the Mexican entity of pertinent authority which "investigates" complaints of wrongdoing in these timeshare situations.
A search of this site with the word PROFECO (and Google is also your friend here) will provide you with the applicable details and processes.

Here is the website for Profeco.

 

[LannyPC]

Just don't pay and learn an expensive lesson?

How much do you have left to pay on this? That might have a bearing on what decision you make.

The other piece of advice that some TUGgers give to people in your situation is to watch out for law firms and other companies who claim they can rescue you from your plight. They'll charge a large fee upfront (in the thousands of dollars) and may or may not do as promised.

 

[Lori2]

We have close to 7,000 US to pay. Once we convert from Canadian it's over 9,000. I'm willing to lose the 4K.
Very frustrated as Visa as a refund policy of its in the 14 days. I'm on day 17

 

[Lori2]

Question. If we walk away from our 4K but want to visit Mexico again (without a time share presentation) will we be marked at customs ?

 

[Passepartout]

Question. If we walk away from our 4K but want to visit Mexico again (without a time share presentation) will we be marked at customs ?

No. No one will know of your default.

 

[MuranoJo]

I'm not a lawyer, but I really don't think you'll take a credit hit. As said before, they'll take your deposit and go on their merry way, "Thank you very much." It's too bad you had to lose a sizable down payment, but about your only option at this point would be to contact Profeco and see what they say (I wouldn't hold up too much hope unless you have documentation of an obvious misleading statement).

 

[theo]

<snip> Very frustrated as Visa as a refund policy of its in the 14 days. I'm on day 17

Your fundamental (and likely insurmountable) problem in a credit card charge dispute here is really not the number of days in your credit card issuer's refund policy at this point, but the indisputable fact that there is a signed contract bearing your voluntary signature which will promptly be produced by the timeshare seller if / when you attempt to dispute the charge --- regardless of when you attempt to dispute the charge. This obstacle to challenging the credit card charge would have have been as rock solid on day 6 (i.e., immediately after the expiration of your contract rescission period) as it is now on day 17.
That being said, you would still be wise to cancel the existing credit card and get a replacement card with a new account number, in order to ensure that the developer has no future potential to "access" (charge) your credit card card account.

Your only remaining hope here (however faint that hope might be) is PROFECO, but without your being able to produce the improper "no refunds policy" document you have previously referenced, or the seller's (highly unlikely) admission that they provided and had you sign one, you simply don't have much of a case.

Good luck, but you have a very steep uphill climb at this late juncture. However, you need not worry about Customs problems in future travels if you default.

 

[Lori2]

I emailed the girl that sold me the unit. I asked why the form I signed that I couldn't get a refund wasn't in my folder. I said I know why it's not there as do you. (Knowing it's illegal and not valid ). She replied she will send it. That shows they did have me sign something. Hopefully that helps a little. Credit card already cancelled. Thanks

 

[theo]

I emailed the girl that sold me the unit. I asked why the form I signed that I couldn't get a refund wasn't in my folder. I said I know why it's not there as do you. (Knowing it's illegal and not valid ). She replied she will send it. That shows they did have me sign something. Hopefully that helps a little. Credit card already cancelled. Thanks

I will frankly be very surprised if you ever receive the same "no refunds policy" document that you originally signed, but hope for the best. Not to be cynical, but I'd expect assorted songs and dances that it's in the mail, can't be located in the files, the office dog ate it, etc. I hope to be entirely mistaken in this belief.

With that document provided in a filed complaint, Profeco might (repeat, might) get the developer to agree to void the entire contract. Whether the developer would also agree to refund your deposit is a related but maybe separate matter under (...whatever passes for) "laws" in Mexico. However, without that (invalid) "no refunds policy" document (or an overt admission to Profeco by the developer that it was indeed provided), it's likely just "game over" and goodbye to $4k.
In any event, I wish you good luck.

 

[Lori2]

Can someone help me find documentation that shows that the form that the resort has us sign saying we can't cancel is illegal with PROFECO. I have a chance to get my money back. The resort replied they would send me a copy so I do have acknowledgement from them the form exists. Thanks

 

[Karen G]

Can someone help me find documentation that shows that the form that the resort has us sign saying we can't cancel is illegal with PROFECO. I have a chance to get my money back. The resort replied they would send me a copy so I do have acknowledgement from them the form exists. Thanks

Here is the Profeco info. The paragraph that you are looking for is here:
"By law, you have five business days to cancel the contract after you have signed it. If you decide to cancel the purchase within this period, notify the developer by email and certified mail. Keep the receipt as evidence you cancelled on time.

You should receive a prompt refund of all the money you have paid, without any cancelling penalties, within fifteen business days.

If the developer refuses to do so or agruments you resigned to this rigth when signing the contract, you may contact extranjeros@profeco.gob.mx. To submit a formal complaint, you must send the following paperwork: a brief description of the problem, copy of the contract and of your ID."

The misspellings and use of the word "arguments" are in the Profeco document.

 

[Lori2]

Thank you. I personally went there and was told I couldn't cancel because I signed a form that said no refund if cancelled. I thought going was better since I had emailed them once regarding something else and they didn't respond

 

[Lori2]

Also I need to get a copy of that paraphrase to show visa. I have some website of theirs I can't figure out where to find that phrase