# Need help rescinding Worldmark purchase



## catwgirl (Mar 3, 2008)

My ex-SIL (twice removed) just purchased Worldmark, signing papers on February 23 (in California).  She didn't tell me until today.  They just took the first payment from her account.  (She really can't afford this; she is making payments on the down payment and the downpayment won't be complete until August).  She just received her welcome packet.

I told her it is worth a try to follow the rescission instructions to the letter and mail it certified today.  Anything else?   Is it possible to un-do this?


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## Judy (Mar 3, 2008)

If she is still within the rescission period, it certainly is possible and worth it to cancel the developer purchase.  If she wants to rescind, she should do it NOW, and as you said, follow the instructions to the letter and send it certified mail, *return receipt requested* (unless there are other mailing instructions, but still definitely get a receipt).
If she really wants to be a Worldmark owner, she can buy on the resale market much cheaper.


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## catwgirl (Mar 3, 2008)

Well, she faxed in her recission per their instructions in her purchase documents and she also sent it certified mail.  However, she is outside the rescission period.  It is 7 days in California.  She signed on February 16, not the 23rd.  She sent in her rescission today, March 3.  Turns out she is currently going through Chapter 13 and she asked the Bankruptcy Trustee and they said she could not make the purchase.  So she put that in her rescission.  I hope that fact, together with the fact that the first installment for her down payment just cleared her account today will help.


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## RichM (Mar 4, 2008)

catwgirl said:


> she is currently going through Chapter 13



Makes you wonder how she "qualified" in the first place??? They truly will sell to anyone with a pulse...



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## catwgirl (Mar 4, 2008)

Rich,

I wondered the same thing.  It seems they were not going to run her credit report (or so they told her) until her down payment is completed in August.  They deducted $196 from her account today as her first payment toward the down payment and they are supposed to make that deduction on the first of every month through August.  Then the payments for the balance were scheduled to begin in September.  Those payments are something like $286 a month.  She thinks that is for 10 years, and only if she qualifies for their best interest rate which is over 15%.  

I am not a whiz at math, but that adds up to over $35,000 for 6000 points!!!

They apparently did an excellent job on the presentation and my poor SIL lost her mind.


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## mshatty (Mar 4, 2008)

catwgirl said:


> Well, she faxed in her recission per their instructions in her purchase documents and she also sent it certified mail.  However, she is outside the rescission period.  It is 7 days in California.  She signed on February 16, not the 23rd.  She sent in her rescission today, March 3.  Turns out she is currently going through Chapter 13 and she asked the Bankruptcy Trustee and they said she could not make the purchase.  So she put that in her rescission.  I hope that fact, together with the fact that the first installment for her down payment just cleared her account today will help.



Unbelievable.


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## Bill4728 (Mar 4, 2008)

Since she is in Bankruptcy, she can just stop paying without any problem.  Just call Wyndham and say she will not be paying them !! Then, she needs to turn off any way for Wyndham to get at her money. 

-If she set up an auto withdrawl from the checking account, TURN IT OFF. 

-If she set up an auto withdrawl from the credit card, TURN IT OFF. 

Wyndham can't come after her becuase she is in bankruptcy. And her credit is already toast.


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## UWSurfer (Mar 4, 2008)

Bill4728 said:


> Since she is in Bankruptcy, she can stop paying without any problem.  Just don't pay Wyndham!!  She needs to turn off any way for Wyndham to get at her money.
> 
> -If she set up an auto withdrawl from the checking account, TURN IT OFF.
> 
> ...



If she went out and purchased a TS while IN bankruptcy, she needs to get some serious personal budgeting & finance instruction!   She sounds like she doesn't understand how money works, let alone personal finance.  The BK is a parachute.  It obviously isn't teaching her anything in and of itself. 

You might steer her to a legitimate non-profit consumer credit counseling service, who amoung other things teach folks how to budget and save.   Here's a link to the legit one in California who has a course specifically for her: http://www.bydesignsolutions.org/workshops_pfm_after_bankruptcy.html# 

It's a life skill that she needs help with!!!


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## Bill4728 (Mar 4, 2008)

UWSurfer said:


> If she went out and purchased a TS while IN bankruptcy, she needs to get some serious personal budgeting & finance instruction!   She sounds like she doesn't understand how money works, let alone personal finance.  The BK is a parachute.  It obviously isn't teaching her anything in and of itself.
> ....
> 
> It's a life skill that she needs help with!!!



Totally true.  

A person in bankruptcy shouldn't be buying anything that isn't absolutely needed.


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## catwgirl (Mar 4, 2008)

Thanks for the info.  She got into trouble due to loss of wages while she took care of her mother while she was dying.

And yes, I agree it was a crazy, impulse purchase.  She told them a million times she couldn't afford it, and they kept finding a way that she could.  I think she was vulnerable and they just wore her down.  Not that that is an excuse.  She is getting help.  Thanks.


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