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Sent Recission Letter - starwood

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I owe a big thanks to this forum. My wife and I went on vacation to myRtle beach last week and attended a starwood timeshare presentation. I ended up buying a myrtle beach timeshare at Sheraton Broadway Plantation - very low points in crappy week every other year for about 6k. Fortunately I realized the terrible value and immediately started doing my research immediately after attending the presentation. Per the instructions on this forum, I typed up a letter of recission and sent it to the address on the contract paperwork. I sent via USPS with return receipt exactly as the contract paperwork advised. I attended the presentation on Sunday 10/6 and brought my recision letter to USPS the next day (monday).

My question for experienced folks here is: How long will it take Starwood to refund my credit card? I paid in full via credit card.

Also I've been checking the USPS tracking information daily and it's been stuck at this status since 10/9:
Your item was processed through and left our ORLANDO, FL 32862 facility on October 9, 2013 at 10:26 pm. The item is currently in transit to the destination. Information, if available, is updated periodically throughout the day. Please check again later.

I addressed it as follows:
ATTENTION: Document Administration Department
SVO Myrtle Beach, LLC C/O Starwood Vacation Ownership, INC.
9002 San Marco Court
Orlando, FL 32819

Shouldn't it show as delivered by now?- forgive my ignorance I've never sent a letter with return receipt before and of course I'm a bit nervous that I'm going to be stuck with this.

Thanks to everyone for your help, this forum has been a fantastic resource for me!
 

DeniseM

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No worries - sounds like you are well on your way to rescinding.

-It doesn't matter when they receive it - all that matters is when you sent it, and you can prove that, so don't worry about slow confirmation of receipt.

-You may not get a credit for 30 days - that's normal.

-Resist the impulse to call Starwood - they will only try to talk you out of rescinding.

-Did you notify your credit card?

-Have you read this article? http://www.tugbbs.com/forums/showthread.php?t=74493
 
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Thanks for your help, I'll try to remain patient :)

To answer your question- I haven't talked to my credit card company. I considered disputing the charges but thought it might be best to simply wait for the refund, do you advise disputing the charge?

Also, regarding your link- YES! I read it thoroughly prior to sending my letter, it was a big help and I feel I followed it's instructions well.

Thanks again!
 

DeniseM

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Starwood is usually businesslike about honoring rescissions, but I would be ready to dispute the charge, if you haven't received the payment, or official confirmation from Starwood within 30 days.
 
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It is comforting to hear that they typically handle recissions well. I appreciate the words of advice!
 

Passepartout

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I wouldn't worry. My crystal ball is cracked to smithereens, but a little bird told me that perhaps there may be some snafu in the quasi-governmental couriers' ability to supply you with updates on the tracking.

Either way, Denise' appraisal of Starwood's acting in a professional manner would be good enough for me. Mom knows best.

Jim
 
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Update: I got my return reciept back today so I know they received it. Now Im just waiting for them to refund me. Ill keep you posted!
 
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I'm pleased to say that I checked my credit card balance today and the funds have been returned. I appreciate everyone's help in reassuring me throughout this process.

Thank you so much!
 

TUGBrian

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Great success story! Hope you find exactly what you are looking for on the resale market!

Happy new owner, and Happy TUGGER who gets a sale from the marketplace!
 

LisaRex

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Starwood usually refunds the money in a short amount of time, so quit stressing about it. If it helps, call your credit card company and tell them that you rescinded and the money is going to be refunded within 30 days. They should be able to tag it so that you won't have to pay it immediately or incur late fees, etc.
 
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