# $15,949 - the plan I just bought from Wyndham - Please help me rescind!!!



## briancaughman (Jul 29, 2008)

My wife and I just signed up (July 26, 2008) for a 105,000 annual point plan with Wyndham while visiting their Wyndham Smoky Mountains resort in Sevierville, TN.  We paid $15,949 including all closing and processing fees.  They gave us an additional 195,000 points up front (one time), and made us VIP for the first 2 years.  We have A++ credit, and they signed us up for a 6-month, no-interest Bank of America credit card on which they charged the entire amount.  Our plan was to take advantage of the 0% interest, and pay off the balance in full before the 6 month term was up.

*I am so glad I found this wonderful web site while I'm still in my 10-day rescission period!!!*

There is a section titled "Refund Provisions" in the Tennessee Public Offering Statement that reads verbatim as below:
_You may cancel a contract to purchase a timeshare interest within ten (10) days from the date of the contract, where you have made an on-site inspection of the timeshare project before signing the contract, and, if you have not made such an inspection, within fifteen (15) days from the date of the contract.  If you elect to cancel, you may do so by hand delivering notice to the seller within the designated period, or by mailing notice to the seller (or his Agent for service of process) by prepaid United States Mail, postmarked anytime within the designated period._

*Here's where I need your help...*
I am a little uncertain as to exactly where I need to mail my rescission letter.  An addendum to our contract lists the Seller as Wyndham Vacation Resorts, Inc. with an address at 8427 Southpark Circle in Orlando, FL.  However, the location where we toured the property and signed the contract to purchase was at 308 Collier Drive in Sevierville, TN.

Any thoughts???
Thank you all so much!!!  I love this web site!!!

- Brian C


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## AwayWeGo (Jul 29, 2008)

*Suspenders & A Belt.*




briancaughman said:


> Any thoughts?


  Send it both places -- registered & certified & delivery receipt requested -- also on-line delivery confirmation. 

Can't be too careful





briancaughman said:


> I love this web site!


Me too. 

Unfortunately, I spend more time horsing around here at TUG-BBS than I do actually going to timeshares.  

Could it be that timeshares are like sex ? 

You know -- the people who are talking about it aren't doing it & the people who are doing it aren't talking about it ? 

1 never know, do 1 ?

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


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## Bill4728 (Jul 29, 2008)

Away we go said:
			
		

> > Originally Posted by briancaughman
> > I am a little uncertain as to exactly where I need to mail my rescission letter.
> > Any thoughts?
> 
> ...



I agree, you're saving yourself over $15,000!!  Mail it to both places!!


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## Bill4728 (Jul 29, 2008)

Buying a Wyndham TS can be a great deal. But as you likely have read, you can buy a Wyndham point TS for about $0.01 cents a point. So that 105,000 pts TS you bought, could likely be purchased for about $1,000. (or $15,000 less than you paid! )


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## Patri (Jul 29, 2008)

Yay Brian. Glad you found us in time. Rescind with a clear conscience and buy resale after you do some research on the whole industry.


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## summervaca (Jul 29, 2008)

Brian,

I am new to Wyndham also.  Last week I purchased 154,000 points at Seawatch Plantation in Myrtle Beach for $613 on ebay.  It took me a lot of reading and asking questions but so far things are going off without a hitch.

I learned from everyone here that there are many, many deals to be had on Wyndham points out there.

I'm glad you found TUG so fast.  I didn't and ended up paying developer price for the Marriott I own.  I don't regret it though because I am having a ball with Timeshare!

Good Luck and Happy Hunting!

Debbie


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## briancaughman (Jul 29, 2008)

Thanks so much, everyone!  Your responses are most helpful, and my wife is so happy that we will be saving $15k!!!  I'll definitely do my homework on this site and others before I purchase... re-sale, of course!

Funny thing, I just found another address in my documentation that lists a PO Box in Las Vegas for Wyndham.  I'll be mailing the cancellation letter to all three now!

- Brian


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## ajlm33 (Jul 29, 2008)

briancaughman said:


> We have A++ credit, and they signed us up for a 6-month, no-interest Bank of America credit card on which they charged the entire amount.  Our plan was to take advantage of the 0% interest, and pay off the balance in full before the 6 month term was up.
> [- Brian C



Once you rescind, you might also want to think about contacting the credit card company and "disputing" the charge due to the fact that you are "returning" your purchase until your credit from the TS company is processed. BofA has nothing to do with the TS company so you now have a new credit card to worry about. FWIW.


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## JoeMid (Jul 29, 2008)

AwayWeGo said:


> Send it both places


agree


AwayWeGo said:


> -- registered & certified & delivery receipt requested -- also on-line delivery confirmation.


I don't think reg and cert are combinable and even if they were, why?


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## JoeMid (Jul 29, 2008)

ajlm33 said:


> Once you rescind, you might also want to think about contacting the credit card company and "disputing" the charge due to the fact that you are "returning" your purchase until your credit from the TS company is processed. BofA has nothing to do with the TS company so you now have a new credit card to worry about. FWIW.


I disagree, disputing a charge that you made is not proper unless/until they fail to do what they are supposed to do.


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## JoeMid (Jul 29, 2008)

briancaughman said:


> Thanks so much, everyone!  Your responses are most helpful, and my wife is so happy that we will be saving $15k!!!  I'll definitely do my homework on this site and others before I purchase... re-sale, of course!
> Funny thing, I just found another address in my documentation that lists a PO Box in Las Vegas for Wyndham.  I'll be mailing the cancellation letter to all three now!
> - Brian


In addition to hiding the rescission info under a lot of paper (in Mexico they make it disappear completely), I think the multiple addresses are another confusion factor meant to boggle the new owner's mind.

Remember to mail back any program materials or they may charge you for them, you didn't drink that good champagne did you?


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## ajlm33 (Jul 29, 2008)

JoeMid said:


> I disagree, disputing a charge that you made is not proper unless/until they fail to do what they are supposed to do.



You must be a more trusting individual than I am. If it was my hard earned money on the line, I wouldn't would want to trust a TS company to reverse anything in a timely manner, especially a charge of almost $16,000. Why not use all the leverage you can against them to help them "do what they are supposed to do"? Just a thought.....


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## DeniseM (Jul 30, 2008)

I wrote this FAQ for another timeshare system, but besides that, everything in it applies to you.  - Rescinding FAQ


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## richardm (Jul 30, 2008)

*Thanks for the laughs!*



AwayWeGo said:


> Unfortunately, I spend more time horsing around here at TUG-BBS than I do actually going to timeshares.
> 
> Could it be that timeshares are like sex ?
> 
> ...



Small pt contract purchased directly from Wyndham.... $15,949..... 

Same pt contract purchased via resale...... $950......

Alan Cole's thought process.................. PRICELESS!


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## Patri (Jul 30, 2008)

richardm said:


> Alan Cole's thought process.................. PRICELESS!



Of just plain kooky.  :whoopie:


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## briancaughman (Jul 30, 2008)

Thanks again, guys.  I'm headed to the Post Office right now to mail out the cancellation paperwork to all 3 addresses.  I'm sending it Priority Mail, Certified, and with a Return Receipt.  Looks like it will cost about $10 or so per mailling, but still well worth the refund!

I'll follow up with them on the phone after the letter is delivered (unless they call me first) to see where they would like me to ship back the welcome kit and all literature they gave me upon signing up.  If they come back with a better deal, I'm definitely going to say "no thank you" this time, but I'll post the details here so you all will know how they operate and what the new deal offered is.

And yes, we did drink the Sparkling Grape Juice... no Champaign... Sevierville is a dry county in TN.

Thanks!


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## jdb0822 (Jul 30, 2008)

I wouldn't waste your time calling.  All that will do is give them the oppurtunity to make excuses and attempt to delay your cancellation.  

Be sure and dispute the charge on the credit card too.


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## acesneights (Jul 30, 2008)

You might want to cancel the credit card also.

Stan


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## kalua (Aug 2, 2008)

*RE; rescinding letter*



briancaughman said:


> My wife and I just signed up (July 26, 2008) for a 105,000 annual point plan with Wyndham while visiting their Wyndham Smoky Mountains resort in Sevierville, TN.  We paid $15,949 including all closing and processing fees.  They gave us an additional 195,000 points up front (one time), and made us VIP for the first 2 years.  We have A++ credit, and they signed us up for a 6-month, no-interest Bank of America credit card on which they charged the entire amount.  Our plan was to take advantage of the 0% interest, and pay off the balance in full before the 6 month term was up.
> 
> *I am so glad I found this wonderful web site while I'm still in my 10-day rescission period!!!*
> 
> ...


 YOU can send a letter to both places ,but becareful, thoses places is not the correct place , !st thing is check your contract you will probally find that inside that 10 day contract is the actuall contract in-which you will only have 7 days to cancel, in anycase try to cancel by doing the following 2.look in your contract ,the finance center for wyndham is Los Vegas call them w/contract # tell them you want to cancel,Then send a letter to them RETURN RECIEPT,if you have not past the dead line this will work I did this in JUNE, hope this helps anyone who read's it GOOD LUCK PS get name, date and time of person you speak with.


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## kalua (Aug 2, 2008)

I also left out the info on the credit card, you have probally already been charged whatever amount after you have cancelled w vegas finance,and sent your letter, then call the bank explain to the bank the reason for the problem and that you have cancelled  it and that their should be no charge , and the your trying to stop a problem before it happens and they will put an explanation in the computer for whoever reads it ,worked for me.also sending a letter to the resort is a waste of time they mostlikely will contact you. I hope you read this intime !!even if today was the 7 day do these things anyway just to make sure remember the call and letter has to be made and postmarked on the7 day sorry everyone one for being so long winded.


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## Patri (Aug 2, 2008)

You don't have to cancel your credit card. If you rescind within the timeframe (the return receipt is the proof of postmark) you will get a refund. Just calm down and wait. (Although now I see it is a new one just for this, so you probably won't want to keep it anyway. You could call and tell them you rescinded and when that goes through you will be cancelling the card. But if you want to keep it, keep it.)
We rescinded with Wyndham (then Fairfield) a few years ago with no hassle. No one asked for the packet back and they didn't charge us for it. We kept it and it has been handy to look up the resorts, etc.
If you mailed within the recission period to the right address you will be fine. People rescind all the time.


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## acesneights (Aug 2, 2008)

What's the point in having a $15,000 maxed out credit card reported to the credit bureaus?

Unless you want the card (FF?) get the bank to annul the whole thing and not report it on your credit report(s).

If you really want a new card wait for one of those AMEX offers where you get 50,000 miles and take a trip to Europe.

Stan


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## briancaughman (Aug 3, 2008)

Update...

I have received the receipts from the post office for all 3 mailings (TN, FL, and Las Vegas).  I have an image printed out with the signatures from Wyndham where they received my cancellation.  No one has called me yet from the Resort.

I am assuming the credit card will show the initial $15k+ charge, and then they will issue a comparable credit to zero it out.


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## Jya-Ning (Aug 4, 2008)

briancaughman said:


> Update...
> 
> I have received the receipts from the post office for all 3 mailings (TN, FL, and Las Vegas).  I have an image printed out with the signatures from Wyndham where they received my cancellation.  No one has called me yet from the Resort.
> 
> I am assuming the credit card will show the initial $15k+ charge, and then they will issue a comparable credit to zero it out.



I believe credit card company allows you 60 days cycle to dispute.  If the credit does not show in the first cycle, I will write to credit card company notice them there is an item in dispute.  

Most of the case, it will follow through.  I don't believe it is the company's desire to get into dispute in this situation.  However, there are always exception.

Jya-Ning


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## briancaughman (Aug 4, 2008)

Update...

The Bank of America credit card arrived at my home today.  There is no statement included with the card yet. A statement with the $15,949 charge will likely show up later this month.

I'm planning to call BofA to let them know what has happened and that a $15,949 credit should be coming back on the card soon to zero out the balance.  The promo period is 0% for 6 months.  Question... should I NOT activate the card by calling the 800 number on it, or does that even matter?  I am planning to cancel the card after the balance is back to zero.


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## Karen G (Aug 4, 2008)

briancaughman said:


> Question... should I NOT activate the card by calling the 800 number on it, or does that even matter?  I am planning to cancel the card after the balance is back to zero.


I don't think I'd bother with activating the card if you don't intend to use it.

Congratulations on finding TUG in time!


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## briancaughman (Aug 15, 2008)

I'll wrap up this thread now with my final update...

I did not activate the BofA credit card.  I just waited patiently and followed up with the 1-800 number on back of the card today.  It took Wyndham about 2 weeks, but they did credit me back the entire amount.  The card shows an initial charge from my visit in the Smoky's of $15,949 on 7/26/08.  They received my rescission letter around 8/4/08 at all three addresses I mailed it to.  The credit was issued to my account of $15,949 on 8/14/08.  That zero'd out the card, so I cancelled it.  Pretty simple!  They never called me.

Thanks again to everyone on this site that helped and for the valuable information I found just in time to save myself from making a huge mistake.

Brian


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## richardm (Aug 15, 2008)

*Not a mistake, just a better decision!*

Brian-

Don't view it as a mistake! Many owners buy directly from the resort and enjoy their ownership.. Regardless of what you pay- a timeshare can be a great value and provide years of enjoyment and travel opportunities! By discovering the value and potential of resale- you've simply managed to ensure you'll have the knowledge to be able to make the best decision for your family when you finally do buy! 

Good luck and help spread the word about the benefits of resort ownership!


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## tofuyan (Aug 15, 2008)

briancaughman said:


> Update...
> 
> The Bank of America credit card arrived at my home today.  There is no statement included with the card yet. A statement with the $15,949 charge will likely show up later this month.
> 
> I'm planning to call BofA to let them know what has happened and that a $15,949 credit should be coming back on the card soon to zero out the balance.  The promo period is 0% for 6 months.  Question... should I NOT activate the card by calling the 800 number on it, or does that even matter?  I am planning to cancel the card after the balance is back to zero.



I had rescinded with them on July 12, and just got the B of A statement yesterday with both the charge and credit with balance $0.  It took about a month for the confirmation


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## capsman (Aug 15, 2008)

Boy $15,000 buys a heck of a "boy I'm glad I found that website" dinner.  

Have a good bottle of wine with it and then start your process of buying at 1/10th the cost!!    

Congrats


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## Jya-Ning (Aug 15, 2008)

At least on this part, they are better than avg.

Jya-Ning


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## Karen G (Aug 16, 2008)

Thanks for posting the rest of the story, Brian.  It is always so rewarding to hear of success stories like this--TUG comes through again!!


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## briancaughman (Aug 23, 2008)

Funny thing... the salesman from Wyndham Smokies emailed me yesterday to say welcome aboard and how smart we were to buy their package (at retail).  I tried to reply and tell him we had rescinded, but his inbox was full.

I guess he'll find out when the commission check doesn't arrive.


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## dulceamor1979 (Aug 27, 2008)

_Post deleted. Ads are not permitted in this forum_


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