# Just signed up..Need Quick advice Rescind or keep it?



## Jess75 (Jan 2, 2011)

Ok so my husband and I bought a timeshare package this past Thursday in the Wisconsin Dells.  We went to a BlueGreen presentation and bought but then went to Wyndham and it seemed better.  We sent a certified letter to cancel BlueGreen and now I  am thinking we should do the same with Wyndham

I am now questioning our purchase.  I have read a lot on here that you can't carry points over.  I have read a lot of the fine print and they told me (I know that sale people can and do lie) that we have 3 years before they expire not rolling them into RCI?  Is this true?

I don't know what to do?  Any advice would be appreciated.  We get 168,000 even years and tehy started us with 216,000 bonus point as of 1/1/2011. Ok So now for the money I am embarrassed to say this but I think before finaning it is lice 12K I am thinking we got ripped? Which is like $175ish a month for 10 years at 13.9% of course we would pay more but I am thinking this is a bad deal. 

Honestly what would you do?

TIA


----------



## DeniseM (Jan 2, 2011)

Absolutely *RESCIND* - you can buy the same thing for pennies on the dollar on the resale market.  In fact, so many people are giving timeshares away you may even be able to get it for free!

Here is an *article with more info. about rescinding*.  I wrote it for a different resort, but everything else applies to you.

For future use:

1)  You should never finance a timeshare - you don't want to finance  something that loses 90% of it's value when you walk out the office door.
2)  There is almost never a good reason to buy from the developer.
3)  You can almost always buy the same thing resale for 0-40% of retail.
4)  Stay away from TS sales presentations.

Here's an comparison:  Let's say you bought a car on Thurs. instead.  And you paid $12,000 and financed it.  As soon as you drove it off the lot, it was worth $500.  Would you still be happy you financed $12,000 at 14% and were paying $175 a month for 10 years for something worth $500?  I don't think so.  But wouldn't you be happy if you bought the same car for $500 cash?  That's what you can do when you buy a TS on the resale market.    

*Don't delay - getting it postmarked on time is CRITICAL - do it TOMORROW!*


----------



## siesta (Jan 2, 2011)

rescind immediately you can get the same thing for $1 on ebay.

The state of Wisconsin offers a 5 day (business) rescission period.  Don't delay.


----------



## Bourne (Jan 2, 2011)

Being from Chicago, I have a soft spot for glacier canyon. That said, it's an easy answer. Rescind. Not because you bought from a developer but the fact that you can buy the exact same thing under 500 including closing. 

The only thing positive is the 200k bonus. Street value is about a 1000 bucks.

You could even do better on maintenance fees somewhere else as glacier canyon is available internally all year long. summers are tight but available 6-9 months out.

Again, rescind. Heck, I'll sell my 154 eoy to you just to make you rescind...


----------



## Passepartout (Jan 2, 2011)

Honestly, RESCIND! You can turn around and buy the same or similar TS for pennies on the dollar. If you go through with this purchase you will be kicking your own hinder for years! 

When you get that done, c'mon back and look around here. You'll find a lot of timeshare wisdom for free!

Best wishes for a rapid, painless rescinding. Sometimes they will promise the moon to keep you hooked. Don't believe them. If it's THAT good a deal, it'll be available after you do some research.

Jim Ricks


----------



## vacationhopeful (Jan 2, 2011)

Run, RUN, RUN FASTER - back to the US Post Office and *RESCIND!*

People can't give away their Wyndham Points package for FREE! It is a good product, but in these times, the maintenance fees (MFs) are ongoing and are increasing faster than many people's income. Buy resale, IF you buy a timeshare product.

And then, stay away from *ANY* timeshare sales presentations. And if you do buy a Wyndham product, never attend an Owner's Update (the name used for the sales group onsite at the Wyndham resorts). You sign those purchase papers too fast. :ignore:


----------



## Bourne (Jan 2, 2011)

The three year thing is called points credit pool. You can do it with any Wyndham points. Developer or resale.


----------



## learnalot (Jan 2, 2011)

Jess75 said:


> I have read a lot on here that you can't carry points over.  I have read a lot of the fine print and they told me (I know that sale people can and do lie) that we have 3 years before they expire not rolling them into RCI?  Is this true?
> 
> TIA



Hi Tia,

I agree with the advice to rescind.  But to answer your question about carrying points over - they were probably referring to using the points credit pool, which is legitimate.  For a $39 fee, you can place your points in the points credit pool, where they are good for 3 years.  There are a few restrictions on them like you can't use them to make ARP reservations, (which is reserving 13 months in advance at your home resort), but you can use them for any Wyndham reservations 10 months or less in advance of the check-in date.  

I would recommend that you spend some time reading and learning on TUG before you decide to buy something.  Glad you found TUG in time to save yourself a lot of money!


----------



## Jess75 (Jan 2, 2011)

Ok so that is that is what my gut was telling me.  So stupid.  We had a sick child and a crappy vacation and spent way too much time at bluegreen and wyndham.  I am confused on how this whole ebay thing works.  We want to vacation for cheap and need advice.  Is this going to mess my credit up rescinding two contracts in less than a week?

So  sent the bluegreen certified mail I will go to the post office tomorrow. I will send it certfied.  Will they send me a confirmation that it is canceled?  

I know this is a stupid question but the Wyndham guys were nice and even after we signed helped us with $150 cash to get home with. I know they are sales guys should I feel bad at all?  Do I send back the bag of books and contracts?  BlueGreen took my contract and everything I told them in person and then sent my letter they signed it as well. Will they hassle me when they find out I canceled? Do I need to worry about identity theft etc?

THANK YOU SO MUCH for the quck replies.  Any more advice suggestions I would really appreciate it.


----------



## Jess75 (Jan 2, 2011)

oh I hear it is post marked date it goes by is that true? if we signed Thursday 12/30 Tomorrow should be fine right?  WE do have 5 days per WI law.


----------



## Bourne (Jan 2, 2011)

Few points..

1. Rescinding is a legal way to walk out of a contract after review. It provides buyers some from of protection. No, as long as you do it within the stipulated timeframe, there is no negative impact. Credit does not get impacted as rescinds are not recorded on credit history. Defaults are.

2. Should you rescind, send it with certified mail. If you have sent bluegeen papers, no harm sending it again via certified mail. Bluegreen and wyndham are reputable firms. But there is no harm having concrete proof of mailing.

3. The money given to you is marketing cost. It is yours to keep for undergoing the pain and suffering of bearing a marketing pitch. :d

4. the whole eBay thing. Sent you an email. Read up on the sticky thread above.

5. Will they hassle. Yes, in the fact that they will come back at you with a sweetened deal. Once they know you will not buy, it's over.


----------



## Karen G (Jan 2, 2011)

Jess75 said:


> Is this going to mess my credit up rescinding two contracts in less than a week?   NO, your credit won't be affected at all.
> 
> So  sent the bluegreen certified mail I will go to the post office tomorrow. I will send it certfied.  Will they send me a confirmation that it is canceled? Maybe or maybe not. Be sure to keep a copy of your rescission letter and the certified/return receipt when it comes back as your proof they received it.
> 
> ...



You've been give great advice in the posts above and if you follow it you'll be okay. Slow down, do lots more research, and don't even think about financing a timeshare purchase.


----------



## Bourne (Jan 2, 2011)

Jess75 said:


> oh I hear it is post marked date it goes by is that true? if we signed Thursday 12/30 Tomorrow should be fine right?  WE do have 5 days per WI law.



here is the Wisconsin law...You are ok if you do it tomorrow...

§ YOU MAY CANCEL IN WRITING ANY CONTRACT FOR THE PURCHASEOF A TIME SHARE, WITHOUT ANY PENALTY OR OBLIGATION, WITHIN 5 BUSINESS DAYS FROM THE DATE YOU SIGN THE CONTRACT OR UNTIL 5 BUSINESS DAYS AFTE YOU RECEIVE THE TIME-SHARE DISCLOSURESTATEMENT, WHICHEVER IS LATER. IF YOU SO CANCEL THECONTRACT, YOU ARE ENTITLED TO RECEIVE A FULL REFUND OF ANYDEPOSITS MADE, EXCEPT, IF YOU HAVE USED OR OCCUPIED THE TIME-SHARE PROPERTY FOR MORE THAN 12 HOURS, THE MANAGING ENTITYOR CAMPGROUND OPERATOR MAY SUBTRACT FROM DEPOSITS MADEA REASONABLE CHARGE TO COVER THE LENGTH OF STAY PLUS THECOST OF DAMAGES TO THE TIME-SHARE PROPERTY DIRECTLYATTRIBUTABLE TO YOU OR ANY MEMBER OF YOUR PARTY.


----------



## puppymommo (Jan 2, 2011)

Don't feel too bad for falling for the sales pitch, they are very good at what they do.  As someone who has rescinded timeshare contracts from three different companies, we no longer attend "owners' updates" or whatever they call them.

Look around, educate yourself, and when you are ready, you can get into timeshare for next to nothing!

Susan F


----------



## timeos2 (Jan 2, 2011)

*NEVER buy Wyndham retail. NEVER.*



Jess75 said:


> Ok so my husband and I bought a timeshare package this past Thursday in the Wisconsin Dells.  We went to a BlueGreen presentation and bought but then went to Wyndham and it seemed better.  We sent a certified letter to cancel BlueGreen and now I  am thinking we should do the same with Wyndham
> 
> I am now questioning our purchase.  I have read a lot on here that you can't carry points over.  I have read a lot of the fine print and they told me (I know that sale people can and do lie) that we have 3 years before they expire not rolling them into RCI?  Is this true?
> 
> ...



Yes, RESCIND WYNDHAM ASAP!  

Then, if you do like the system - it's a great one and a great value AT RESALE PRICES - NEVER RETAL - pick up some resale points for little or nothing and enjoy it. Wyndham may be the best value of all the systems BUT only if purchased resale. At retail it is one of the worst purchases/values as 95% or more of the purchase cost is gone on the day the rescind period ends. Don't get caught in that. Rescind. No question.


----------



## DeniseM (Jan 2, 2011)

No offense, but I don't think you are in any position to buy a timeshare.  Your comment that the sales person gave you $150 to get home on tells me that your financial position is tenuous at best.  When you have a timeshare, you  have a mandatory maintenance fee payment that goes up every year.  If you don't pay it, you get turned over to collections and it damages your credit.  If you are in a shaky financial position, don't even think about buying a timeshare.


----------



## fishingguy (Jan 3, 2011)

Yes, you'll want to send back any books/pamhlets/sales literature and the satchel/cardboard brief-case/accordian folder that they came in. Carefully read the details that came in your packet and follow the instructions to the tee.  You don't need to talk to anyone, and probably won't want to.

You might want to consider renting timeshare vacations for cheap getaways. It doesn't require a long-term commitment, finanancing, or a lot of detailed planning; and can be a reasonably priced alternative to owning.  In the mean time you can learn the _"in's and out's"_ of owning.

Lastly, the clock is ticking....


----------



## Jess75 (Jan 3, 2011)

DeniseM said:


> No offense, but I don't think you are in any position to buy a timeshare.  Your comment that the sales person gave you $150 to get home on tells me that your financial position is tenuous at best.  When you have a timeshare, you  have a mandatory maintenance fee payment that goes up every year.  If you don't pay it, you get turned over to collections and it damages your credit.  If you are in a shaky financial position, don't even think about buying a timeshare.





Oh that was because we were heading into bad weather and wanted to know if we could utilize anything that day if need be. So he gave that to help off set any costs.  We are fine financially we could be better but we do ok.

Thanks though I appreciate the advice.   I will admit we jumped into this blindly with out much research and that I feel dumb for but will be getting out asap.  Going to the post office at lunch.


----------



## Jess75 (Jan 3, 2011)

fishingguy said:


> Yes, you'll want to send back any books/pamhlets/sales literature and the satchel/cardboard brief-case/accordian folder that they came in. Carefully read the details that came in your packet and follow the instructions to the tee.  You don't need to talk to anyone, and probably won't want to.
> 
> You might want to consider renting timeshare vacations for cheap getaways. It doesn't require a long-term commitment, finanancing, or a lot of detailed planning; and can be a reasonably priced alternative to owning.  In the mean time you can learn the _"in's and out's"_ of owning.
> 
> Lastly, the clock is ticking....




Alright at Bluegreen I talked to the guy and handed the stuff over and then mailed a letter.  Will it tell me where to send the paper work and bag etc?  Does that have to be with the rescinding letter?  

Thanks for all of the advice I so appreciate it.


----------



## siesta (Jan 3, 2011)

the directions for rescinding should be with your documents.  You should follow it exactly.


----------



## AwayWeGo (Jan 3, 2011)

*Rescinda-Sinda-Sinda.*




Jess75 said:


> We sent a certified letter to cancel BlueGreen and now I  am thinking we should do the same with Wyndham


You typed a mouthful.  

Cancel Wyndham quick.  Get out of it while you can.


Jess75 said:


> Any advice would be appreciated.


Buy timeshares resale.  Save thousands of dollars on the same thing or the equivalent or something even better. 

Nothing that the timeshare companies sell at full freight is worth the money -- specially in today's market when so many timeshare deeds are worth approximately nothing.

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


----------



## fishingguy (Jan 3, 2011)

Some instructions tell you to send the sales stuff you got to a seperate address, and others don't specifically say so you can assume it is the same as your rescinsion letter.

Yes, the date is determined by the postmark or date shipped.  Some won't accept anything other than from USPS or whatever your instructions say, they might be different for different resorts/sales groups. So another reason for following the instructions exactly as written.


----------



## Jess75 (Jan 3, 2011)

fishingguy said:


> Some instructions tell you to send the sales stuff you got to a seperate address, and others don't specifically say so you can assume it is the same as your rescinsion letter.
> 
> Yes, the date is determined by the postmark or date shipped.  Some won't accept anything other than from USPS or whatever your instructions say, they might be different for different resorts/sales groups. So another reason for following the instructions exactly as written.



So I found the section on our right to cancel. 5 business days in writing.  It gives no address or any instructions about the bag of stuff.  Does anyone know the address where I should send it?   The address on the bottom of our paperwork is 8427 Soauth Park Circle
Orlando. FL 32819

Can anyone confirm?

Thanks!


----------



## Passepartout (Jan 3, 2011)

I wouldn't worry about the bag of stuff until they ask for it. Just follow the instructions and get receipt confirmation on the letter you send them. It sounds like you are making a genuine effort to follow what they want. 

These outfits don't make it easy to get the claws out of you.

All the best....

Jim Ricks


----------



## Jess75 (Jan 3, 2011)

Passepartout said:


> I wouldn't worry about the bag of stuff until they ask for it. Just follow the instructions and get receipt confirmation on the letter you send them. It sounds like you are making a genuine effort to follow what they want.
> 
> These outfits don't make it easy to get the claws out of you.
> 
> ...



Well I got the letter in the mail certified by 12:30 CST to Wyndham.  She said not to worry about the bag and there were no instructions about it.  She also gave me a fax # to send the letter so we did both.

I called BlueGreen to follow upi and their customer service was not very good. All the rep kept saying was keep your copy of your letter and your receipt over and over.  I am a tad nervous about them Signed Wed 12/29 rescinded in person at 9:30 am 12/31 and etter in mail by 11am certified 12/31. 

THANK YOU for all of your advice.  I am going to research renting timeshares for checking ebay etc.  I hope toI have cancelation notices soon from both companies and a refund from bluegreen with in 20 days.  I/we have learned a big lesson I am just glad there is a great forum like this available. My Dad always says it is way easier to get into something than out of and that was going through my head while we were signing.  Thanks again.  If you think of anything else please let me know.    
-Jess


----------



## ronandjoan (Jan 4, 2011)

Jess75 said:


> I hope toI have cancelation notices soon -Jess



We did not get a cancellation letter but we got the money back in our account!  Watch for that.


----------



## Rob&Carol Q (Jan 5, 2011)

Jess75 said:


> My Dad always says it is way easier to get into something than out of and that was going through my head while we were signing.  Thanks again.




Golly...My Dad gets smarter with each passing year too!  Funny how that happens.  Miss the guy.


----------



## ng1821 (Jan 18, 2011)

I just bought my TS this sunday @ the dells and I know now that I must cancel.  how did it go with wyndham and getting ur money back?


----------



## DeniseM (Jan 18, 2011)

ng1821 said:


> I just bought my TS this sunday @ the dells and I know now that I must cancel.  how did it go with wyndham and getting ur money back?



You have a legal right to rescind - it's the law.  Wyndham has no say in it as long as you rescind within the legal time frame and use the proper procedure.


----------



## Jess75 (Jan 20, 2011)

ng1821 said:


> I just bought my TS this sunday @ the dells and I know now that I must cancel.  how did it go with wyndham and getting ur money back?




I faxed the information to them and mailed a letter to rescind by certified mail.  I got a call last week about it from headquarters.  I also called to verify they had it on file. We did not put money down with them per say I am going to follow up next week.

Who did you work with? We worked with Justin and Bobby.  Both nice ut after reviewing our contracts things were dfferent then what they stated.  This forum was a life saver!
Good Luck!


----------



## JimMIA (Jan 21, 2011)

Rob&Carol Q said:


> Golly...My Dad gets smarter with each passing year too!  Funny how that happens.  Miss the guy.


This is off-topic, but I've also been saying for years  "The older I get, the smarter my Dad gets!"  I think that wisdom that we initially ignored, but later hold priceless, is their way of staying with us and watching out for us.

Hopefully my wonderful kids will feel the same way, but will realize it sooner rather than later.


----------



## lkstan (Jan 31, 2011)

*resinding purchases*

I have made two different timeshare purchases direct from developers over the past 15 years and cannot say sorry as I have used them well.  and have also taken advantage of the II cheap getaways.  that said:

I have also resinded another 3-4 purchases that I made and then found out they were not what they said, etc.   blatent lies ticked me off,

In each case, I resinded when still at the resort and did so by simply taking a hand written letter and the materials to the sales office,   and had the office sign a copy of letter as recieved.   they did so willingly as I believe this occurs very regularily. 

also set thru several "just for the gift"  really wanted more info, etc. and it is fun just to see what lies they will tell.   yes, there is a lot of pressure;.  only once did they really try not to give the gift (2 disney tickets), but after 4-5 hours of pressure, I put the pressure on them and they came thru. 

if mailed make sure you get some type of delivery reciept with signature.


----------

