• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 30 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 30th Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $21,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $21 Million dollars
  • Sign up to get the TUG Newsletter for free!

    60,000+ subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Purchased Worldmark & Sent Rescission Thanks to TUG

donscott

TUG Member
Joined
Jan 12, 2020
Messages
3
Reaction score
18
Points
63
1/11/20 - I purchased 10,000 annual credits and they threw in 10,000 bonus credits for about $28k, Found this forum same day, became a member and did the normal research. Faxed in my rescission 1/12/20 and followed up by sending my rescission letter certified mail yesterday (1/13/20). Many thanks for all the great info on the forum!

Does anyone know approximately how long it takes for them to process the rescission and send me confirmation? If not, I'll report back with that info for others.
 

sue1947

TUG Review Crew
TUG Member
Joined
Feb 23, 2009
Messages
1,748
Reaction score
1,193
Points
523
Location
Seattle
Resorts Owned
Worldmark and VI
They will process the rescission, but they aren't required to send confirmation so don't worry if you don't get one.
A good resource for buying WM resale is wmowners.com/forum. Look at the Memberships for sale thread to get an idea of current resale prices.
 

TheTimeTraveler

TUG Member
Joined
Jan 23, 2008
Messages
5,952
Reaction score
2,858
Points
648
Location
Florida
1/11/20 - I purchased 10,000 annual credits and they threw in 10,000 bonus credits for about $28k, Found this forum same day, became a member and did the normal research. Faxed in my rescission 1/12/20 and followed up by sending my rescission letter certified mail yesterday (1/13/20). Many thanks for all the great info on the forum!

Does anyone know approximately how long it takes for them to process the rescission and send me confirmation? If not, I'll report back with that info for others.



Good move on the rescission! As Sue said, they don't have to acknowledge receipt of your rescission but they do have to act on it, and you should receive a refund within a 45 day timeframe.

Smart move on becoming a member, and welcome to TUG.





.
 

donscott

TUG Member
Joined
Jan 12, 2020
Messages
3
Reaction score
18
Points
63
As a followup, on the day my rescission letter was delivered by certified mail, I received an email and a phone call from the sales people I talked to at the time of purchase. I didn't answer as I was not going to have them attempt to change my mind. I received a rescission confirmation letter by email today (7 days from when my rescission letter was delivered). The refund has yet to hit my credit card, but I'll post when it does.

Anyway, this follow up is just for anyone searching the forums to get a rough timeline of the rescission process with Worldmark.
 

DaveNV

TUG Review Crew: Expert
TUG Member
Joined
Jun 1, 2006
Messages
22,003
Reaction score
29,217
Points
1,348
Location
Mesquite, Nevada
Resorts Owned
Free Agent
Nice work, Don. When you're ready to buy again, check the WorldMark resales on eBay. You can get a 10K credit account for a couple thousand dollars or less. Way better than $28K.

Dave
 

CPNY

TUG Member
Joined
Jun 18, 2019
Messages
7,508
Reaction score
4,392
Points
349
Resorts Owned
Harborside Resort at Atlantis
SVV - Key West/Bella
WKV
Regal Vista at Massanutten
1/11/20 - I purchased 10,000 annual credits and they threw in 10,000 bonus credits for about $28k, Found this forum same day, became a member and did the normal research. Faxed in my rescission 1/12/20 and followed up by sending my rescission letter certified mail yesterday (1/13/20). Many thanks for all the great info on the forum!

Does anyone know approximately how long it takes for them to process the rescission and send me confirmation? If not, I'll report back with that info for others.
@Grammarhero did we capture this 28K?
 

CPNY

TUG Member
Joined
Jun 18, 2019
Messages
7,508
Reaction score
4,392
Points
349
Resorts Owned
Harborside Resort at Atlantis
SVV - Key West/Bella
WKV
Regal Vista at Massanutten

lotus5

TUG Review Crew: Veteran
TUG Member
Joined
Nov 23, 2008
Messages
42
Reaction score
24
Points
368
Location
Blaine, WA
We are vacationing at Worldmark Indio. Got sucked into adding 7000 points to our account for $18,000! We know better! But here we are. Doing the rescind today. Can I just go into the sales office to do this and put up with the noise? or fax and certified letter? What wording in the rescind letter? - Jim
 

Grammarhero

Official TUGBBS Rescission Master
TUG Lifetime Member
Joined
Jun 9, 2019
Messages
3,086
Reaction score
2,486
Points
399
Location
Washington, DC Area
Resorts Owned
Wyndham Grand Desert 77k, VV Williamsburg 4L/4 & 2/2
Former: Wyndham 276k, HGVC South Bend 1/1
We are vacationing at Worldmark Indio. Got sucked into adding 7000 points to our account for $18,000! We know better! But here we are. Doing the rescind today. Can I just go into the sales office to do this and put up with the noise? or fax and certified letter? What wording in the rescind letter? - Jim
Definitely do rescind. I've seen WM contracts on ebay for $3k. Look for your contract paperwork for the rescission instructions. Follow as exact.

Read TUG for two months. Maybe rent. Then if you are comfortable, then buy a TS, a lifelong commitment.
 

donscott

TUG Member
Joined
Jan 12, 2020
Messages
3
Reaction score
18
Points
63
Update, I saw the $$$ deposited back into my account the day after they confirmed my rescission. Timeline simplified in this post for future reference:

Saturday - 1/11/20 - Bought Timeshare from Worldmark
Sunday - 1/12/20 - Sent Rescission letter by Fax (Rescission letter for California people is in CA-Worldmark-Public Report they provided)
Monday - 1/13/20 - Sent Rescission letter by Certified Mail
Thursday - 1/16/20 - Rescission letter delivered via Certified Mail
Thursday - 1/16/20 - Received calls and emails from salespeople to try and change my mind (I ignored both)
Thursday - 1/23/20 - Received email from Worldmark with a Rescission Confirmation Letter
Friday - 1/24/20 - Funds were refunded back to my credit card

@lotus5 The CA Public Report says you can return the rescission letter to the point of sale, by fax or certified mail, but I would recommend certified mail (much easier and less likely that letter gets lost)
 
Top