# need help and advice



## Thisor (Nov 11, 2011)

I went to work on Tuesday very happy  having purchased my very first time share. After hearing how much I paid and what I was getting my friend told me to first review the paper work and be sure everything was correct and to second come to this site and ask for help.

Just so you know I signed the papers Monday November 7, 2011. During the sales pitch I was shown what was inclusive in my purchase. I bought two weeks at the Cove in Yarmouth. I told the gentleman we normally rent a cottage in August for two weeks and we would be looking for the same time period which he said was do-able. So my husband and I bought we are now the proud owners of 36600 points and realize we can not spend two weeks at the cove in august for the points we purchased so falsehood number one! 

We were told if we had any questions or concerns to call and they would be happy to answer anything. I called left a message and still have not heard back from them. Falsehood number two. 

We were told we could use the pool and facilities any time we wished and that we could pick up days for 55 dollars a night when there were available units and this was part of a "bonus package" we were getting for signing that day. We went today to use the pool and see about getting a unit for a Friday or Saturday night we were in luck there was a unit available in a few weeks on a Saturday night the price 89.95. I asked why it was not 55$ which was the "advertised" price and was told that was the rates from four years ago. So now we have falsehood number three. 

We paid 9,495.00for the unit and closing costs which I am beginning to think was a tad high. I put the down payment on my discover card and am thinking I should call and tell them to stop payment. 

Today after visiting the property and reading all the fine print I am really just sad  and feeling lost and lied to. I do not know how long I have to rescind my offer or what avenue I have open to either get what i was told I was paying for or to just get out of this timeshare. If I do get out of it I will still want to buy one but I want to be better informed and really get what I am being sold not four year old rates and undeliverable promises. Any help or advice you could provide would be wonderful!

Thanks
Diane


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## brigechols (Nov 11, 2011)

Rescind. Check your paperwork to find the timeframe for rescinding the purchase. Checkout the TUG rescinding FAQ - http://www.tugbbs.com/forums/showthread.php?t=74493


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## DeniseM (Nov 11, 2011)

YOU STILL HAVE TIME - *RIGHT NOW* - you need to sit down and go through your purchase paperwork, find the rescinding info., and follow the directions EXACTLY.

You have a very short time frame - and only one chance to rescind - Do it now.

Then, you can take your time and do your research about timesharing - don't even think about that right now.

JUST DO IT!

More info. about rescinding - This was written for a different resort, but everything else applies to you:  http://www.tugbbs.com/forums/showthread.php?t=74493


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## vacationhopeful (Nov 11, 2011)

Mail off the rescind letter TOMORROW. Hand write it. Photocopy it. Don't even THINK about it - just rescind. 3 lies.


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## fishingguy (Nov 11, 2011)

*waaaaaay toooooo much!*

$9.5K is grossly too much, especially when owners are giving away similar timeshares for next to nothing now on the resale market.  As others said, rescind -- you only have a finite period of time to do it!  Follow the instructions they provided in the packet of info you received, exactly as written!!!

Don't attempt to contact them via phone or email -- they will just try to talk you out of rescinding by feeding you more half-truths!


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## Thisor (Nov 11, 2011)

I have gone through my paperwork three times including the CD that was included in my package and can not find this information anywhere. I am at a loss as to where it would be.


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## vacationhopeful (Nov 11, 2011)

Take a deep breath.

Look for papers with your signature on it. It is usually on that page or the page before it. Yes, they had you sign you name 10+ times; but only one of those was a CONTRACT.

The post office opens at 9AM tomorrow. You will find it. Just take a deep breath.


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## fishingguy (Nov 11, 2011)

Search more thoroughly, in almost all states they are required to provide details for rescinding.  It may be called something else on the CD or even buried in the contract you signed somewhere -- they typically only have to provide the info but it doesn't need to be convient.  So even read the fine print!


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## DeniseM (Nov 11, 2011)

Unfortunately, the info. is sometime "accidentally" left out.

I would go ahead and write and send a rescission letter - see the link above for a template, and send it US Mail, return receipt, with a copy of the main page(s) of your contract, as recommended.  

Send it to what ever address is on your contract/sales papers - if there is more than one address - send it to both.  

If there is a Fax number - also FAX them the same info.

If you have an email address - send them an email notifying them that you have sent the written rescission.

Be firm and brief.

The law is on your side - just cover all your bases and you will be OK.


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## wackymother (Nov 11, 2011)

Here's an address on the Cove at Yarmouth website. Send your letter here as well as to any addresses on your paperwork. Send all letters via U.S. Mail, return receipt requested, unless your paperwork specifies otherwise. Even if it does, you should send however the paperwork says, AND via U.S. Mail, return receipt requested. 

Don't try calling anyone like your salesperson--they will just try to stall you until the recission period is over!

http://www.coveatyarmouth.com/contact-us


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## ampaholic (Nov 11, 2011)

The one thing you don't want to do is *delay*- shotgun the rescission if need be. You want to establish that you tried to rescind within the time-frame required.

When the Salesmanship drugs (lies) wear off - you will be glad you rescinded.


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## ronparise (Nov 11, 2011)

If you can rescind; do it, But Im afraid that you may be too late, I found several references on the internet stating the the rescission period in Mass. is just  3 days.

Id send it in anyway

If they refuse to let you rescind, Id tell them Im not paying, that I was lied to at the presentation and that they either take it back or not, but I 'm not  going to pay them. I dont advise doing this, but it is what I would do...There will be major headaches if you take this tack...collections people will likely be calling and credit scores will drop, the end result may be that they foreclose, but Ive seen this work before with other timeshare companies

The other option is to figure out what you own and make the best of it, perhaps buy more (resale if possible) to get the weeks you want

many of us here bought our first contracts retail and still love what they own

Good Luck


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## Passepartout (Nov 11, 2011)

I also looked up the Mass rescission law. 3 business days. Boy, that's tough.

As Ron said, I'd be a real stinker about it. Challenge the charge- even cancel the credit card. Obviously the OP has no proof of the verbal promises so she has a chance of proving fraud.

OTOH if they can get 2 weeks in Summer on Cape Cod $9500 may not be too bad- in the overall scheme of things. If their 36,000 points (what kind of points?- RCI or some other proprietary type) won't get them 2 weeks as she said- then it's not as represented. 

Diane, I hope you can get this sale rescinded. It doesn't look like they are obligated by law to cancel the sale after 3 business days, but if you make yourself unpleasant enough.....

Good luck, and welcome to TUG

Jim Ricks


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## glypnirsgirl (Nov 11, 2011)

In many states if the rescinding information is not clearly printed on the documents, then the buyer cannot be held to the rescission period.

Don't know about Massachusetts.

elaine


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## ronandjoan (Nov 12, 2011)

vacationhopeful said:


> Mail off the rescind letter TOMORROW. Hand write it. Photocopy it. Don't even THINK about it - just rescind. 3 lies.



Send it certified mail!


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## Thisor (Nov 12, 2011)

OK I own it. I will be happy about it! I will! Called a real estate agent whom I bought my house from in Mass it is 72 hours for post mark on the rescind letter. which would have been Thursday. I will stick with what I have for a year and read the boards here and learn before I buy more RCI points so I can get what I really want and when I really like taking my Vacation. I want to thank you all for the great advice and the 3 day rule will make acceptance sink in faster for me and I will keep taking  deep breaths!

Side note: My husbands says I can make myself unpleasant on occasion but he just prefers to suck it up and own it and learn from this for the next set of points we buy!


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## DeniseM (Nov 12, 2011)

If the rescission info. really isn't in your packet, then the agent has broken the law and you should go ahead and try to rescind - it will cost you a few bucks, and may save you thousands.  What do you have to lose?


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## Thisor (Nov 12, 2011)

this is what my son found last night after I read to him your posts here and the information on the link. 
"Any notice to the note holder shall be given by mailing such notice by certified mail, return receipt requested, to the note holder at the address stated in the first paragraph of this note, or at such address as may have been designated by notice to the borrower."

So although they never state the time by law to rescind they did give the information in some form....which I am sure legally will cover their interests.


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## DeniseM (Nov 12, 2011)

I don't think that covers them - they are required to provide rescission instructions.  You have nothing to lose by rescinding.


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## glypnirsgirl (Nov 12, 2011)

DeniseM said:


> I don't think that covers them - they are required to provide rescission instructions.  You have nothing to lose by rescinding.



I wholeheartedly agree. Almost always they are required to give you notice of your right to rescind. That notice language is not notifying you of your right to rescind: it only tells you where to send notices.

It is inexpensive to try to rescind and very expensive to not.

elaine


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## glypnirsgirl (Nov 12, 2011)

*Language of the Mass statute*

Here is the pertinent language of the Massachusetts statute (i have bolded the pertinent parts):

Section 10. (a) Except as otherwise provided in this section, in the case of any consumer credit transaction, including opening or increasing the credit limit for an open-end-credit plan, in which a security interest, including any such interest arising by operation of law, is or will be retained or acquired in any property which is used as the principal dwelling of the person to whom credit is extended, *the obligor shall have the right to rescind the transaction until midnight of the third business day following the consummation of the transaction or the delivery of the information and rescission forms required under this section together with a statement containing the material disclosures required by this chapter,** whichever is later*, by notifying the creditor, in accordance with regulations of the commissioner, of his intention to do so. *The creditor shall clearly and conspicuously disclose*, in accordance with regulations of the commissioner, to any obligor in a transaction subject to this section the rights of the obligor under this section. The creditor shall also provide, in accordance with regulations of the commissioner, appropriate forms for the obligor to exercise his right to rescind any transaction subject to this section. No finance or other charge shall begin to accrue on any such transaction until the termination of the rescission period provided for in this section.


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## vacationhopeful (Nov 12, 2011)

glypnirsgirl said:


> I wholeheartedly agree. Almost always they are required to give you notice of your right to rescind.* That notice language is not notifying you of your right to rescind*: it only tells you where to send notices.
> 
> It is inexpensive to try to rescind and very expensive to not.
> 
> elaine



Heed this advice as IF you paid big bucks for. Some people on this forum give VERY good advice for free. 

What you posted is NOT the language I have seen in multiple contracts used to sell someone a timeshare. It is clearly stated RIGHT TO RESCIND, tells the number of days and the address IN VERY NOTICABLE location.

Send it anyway. Today. Might have to travel a few miles to an open post office. I know the one at my regional NJ distribion center if open to 5PM. And the one at the multiple millions of people live here city (main branch) is also open to 5PM.


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## Patri (Nov 13, 2011)

Oh my goodness, yes, rescind. It now looks like you have the law on your side.


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## ampaholic (Nov 13, 2011)

glypnirsgirl said:


> Section 10.  - snip - The creditor shall *clearly and conspicuously* disclose, in accordance with regulations of the commissioner, to any obligor in a transaction subject to this section the rights of the obligor under this section. *The creditor shall also provide*, in accordance with regulations of the commissioner, *appropriate forms* for the obligor to exercise his right to rescind any transaction subject to this section. No finance or other charge shall begin to accrue on any such transaction until the termination of the rescission period provided for in this section.



I think the law is on your side if they failed to provide "appropriate forms" and/or failed to inform you "clearly and conspicuously" of your right to rescind.

It may even be that legally the rescission period has yet to start - since it can't even begin until they follow the law.


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## e.bram (Nov 14, 2011)

OP:
Still time, Ma. rescission period is three BUSINESS days, and Friday was a holiday.
Most if not all TSes on the Cape were sold as fixed weeks. Few prime weeks owners converted to  points. so point availability is minimal.
How were you sold these points. I believe the Cove was sold out long ago.


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## RX8 (Nov 14, 2011)

Thisor said:


> OK I own it. I will be happy about it! I will! Called a real estate agent whom I bought my house from in Mass it is 72 hours for post mark on the rescind letter. which would have been Thursday. I will stick with what I have for a year and read the boards here and learn before I buy more RCI points so I can get what I really want and when I really like taking my Vacation. I want to thank you all for the great advice and the 3 day rule will make acceptance sink in faster for me and I will keep taking  deep breaths!
> 
> Side note: My husbands says I can make myself unpleasant on occasion but he just prefers to suck it up and own it and learn from this for the next set of points we buy!



Some good advice here.  Hopefully you will at least TRY to get this contracted rescinded.  If you just decide to "own it" then just understand it may be $9495 down the drain.  An eBay auction recently closed with a high bid of $1.


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## scootr5 (Nov 14, 2011)

e.bram said:


> OP:
> Still time, Ma. rescission period is three BUSINESS days, and Friday was a holiday.



Right, but the papers were signed on Monday - the third BUSINESS day would have been Thursday.

The lack of clear and conspicuous forms is the better argument.


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## djs (Nov 14, 2011)

OP, this advice doesn't help your current situation, but try reaching out to your City Councilor(s), State Rep and State Senator.  They may have had other constituents in similar situation as you.  Let them know that you feel the 3-day recision period is too short (or whatever else you feel about it).  

Each of these officials are there to represent your interests.  As far as contacting your City Councilor, although they don't have any pull on state laws they likely are in regular contact with their counterparts at the State and are still a resource worth reaching out to.


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## vacationhopeful (Nov 14, 2011)

Tuesday was Election day ... almost all of our government offices were closed as were on Veteran's Day on Friday.

3 business days would be WED, THURS and TODAY (Monday).

Why are you stalling? Writing a hand written letter stating: 
 Dated 11/14/2011

I rescind the purchase of CONTRACT #ABR123 signed on MON 11/7/11. Please RETURN all payments to my credit card IMMEDIATELY. I have also disputed that charge on my credit card as of this date also.

Do not contact me to reconsider. I am exercising my legal right to cancel this contract immediately for the purchase of ABC Resort in TOWN/CIty, MA for $9999.99.

Signed: Wife
Signed: Husband

with names printed below.

Regular Mail
Certified Mail 1234 1234 1234 1234 1234

See, it is that simple.


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## djs (Nov 14, 2011)

In Massachusetts, Election Day would count as a Business Day.  No harm in sending the letter out though.


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## ampaholic (Nov 14, 2011)

> the obligor shall have the right to rescind the transaction until midnight of the third business day following the consummation of the transaction *or* the *delivery of the information and rescission forms* required under this section together with a statement containing the material disclosures required by this chapter, *whichever is later,*



*Have they provided you with the "Rescission Forms" as required by the Mass statute?* Because you have three days *AFTER* they provide them - per the statute.

Don't take any crap from them - send in the rescission A.S.A.P. and insist that they honor it - if they try to fight the rescission *THEN* the fight is "on" (lawyer time).

You would resist a common pick pocket - wouldn't you


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## DeniseM (Nov 14, 2011)

Unfortunately, Thisor has not been back since posting their last response on Sat....


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## Beefnot (Nov 14, 2011)

From OP's third post in this thread, seems like she has decided it's not worth the fight and to just chalk it up to an expensive lesson learned.


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## theo (Nov 15, 2011)

*A strange contradiction....*



Passepartout said:


> I also looked up the Mass rescission law. 3 business days. Boy, that's tough.



Yes indeed --- and only one or two other states in the entire USA have rescission periods so very brief. 
In most states, it's 5-7 days (10 days in Florida, 15 days in Alaska, but in _most_ states it's 5-7 days). 

What is particularly odd about this very strange anti-consumer anomaly is that notoriously liberal Massachusetts is otherwise well known and long established as an *extremely* consumer-friendly state, with laws that historically and very consistently favor tenants over landlords, consumers over merchants, etc.  

The Secretary of State in MA (William Galvin, a former classmate and a genuinely decent man) is strongly pro consumer and of unquestionably high integrity. Frankly, I'm a bit surprised that he hasn't personally tackled and corrected this particular problem already. He certainly never avoids (...to say the least ) any camera or reporter on any issue of potential consumer / public interest in MA. I would think that the unacceptably brief 3 day rescission period in MA would be a no-brainer PR opportunity for him to get on camera and trumpet more proactive accomplishments of his office. Then again, maybe this is a matter which would require legislative change and is perhaps therefore outside the scope and authority of his office.


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## djs (Nov 15, 2011)

Theo, you bring up exactly why I suggested the OP contact his/her elected officials.  Oftentimes elected officials don't know there is an issue until it is brought to their attention.  I do agree that we tend to have very consumer friendly laws/rules/regulations here in MA and was actually shocked to find out that our cooling-off period was only 3 days.

I hope this isn't a situation of "well, most of the people buying the timeshares likely are not Massachusetts residents so we won't bother ourselves with this".


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## theo (Nov 15, 2011)

*I dunno, but...*



djs said:


> Theo, you bring up exactly why I suggested the OP contact his/her elected officials.  Oftentimes elected officials don't know there is an issue until it is brought to their attention.  I do agree that we tend to have very consumer friendly laws/rules/regulations here in MA and was actually shocked to find out that our cooling-off period was only 3 days.
> 
> I hope this isn't a situation of "well, most of the people buying the timeshares likely are not Massachusetts residents so we won't bother ourselves with this".



I doubt that's the reasoning. It's the location of the timeshare (i.e., not state of residency of the buyer) that governs the rescission (a.k.a. "cooling off") period. There are 40 to 50 timeshare facilities located within MA --- over 30 on Cape Cod alone. Surely many of those weeks are purchased and owned by MA residents. Regardless, your suggestion to try to enlist the help of appropriate pols / authorities might be a good one. Even if the rescission period has expired, that extra "juice" still _might_ help the snookered buyer...

P.S. The preceding House Speaker in your state is scheduled to check-in to the Federal penitentiary soon to begin his prison sentence after a recent corruption conviction. Accordingly, if the OP _does_ decide to seek the help or influence of an elected MA pol, Mr. DiMasi would probably not be her best first choice.


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## Rob&Carol Q (Nov 17, 2011)

DiMasi?  Salvatore DiMasi?

Wasn't he a Sales Weasel @ Branson?

Just kidding...:hysterical:


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