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Keep or Cancel?

Discussion in 'Buying, Selling & Renting Timeshares' started by katie lucille, Jun 3, 2019.

  1. katie lucille

    katie lucille Guest

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    The statement about the 10 days has no information on where the information needs to he sent. I combed through all the forms and every document has the same address.

    I see a lot of people giving away timeshares or selling them for $1, I guess I don't understand why. What's the catch and if thats normal is that what most of you experienced timesharers do? @TUGBrian
     
  2. Karen G

    Karen G Moderator

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    Life happens and circumstances change. I think most of the people who give away their timeshares no longer use them or they can't afford the annual maintenance fees or they have too many.

    Personally, we used to own nine timeshares and we used them every year either for family trips or trips where we took friends with us. We lived in the rainy Seattle area and we were always on the lookout for great escapes to sunnier, drier locations. Eventually our kids all grew up, my husband retired, and we moved to a sunnier, drier location that has all the activities we used to travel to right here at home. We now like to do more cruises or road trips to nearby scenic locations and we found that we weren't using our timeshares like we did before. So, we sold our timeshares. We loved them while we owned them and we're happy not to have them any more! Plus, it's much easier to rent timeshares than own them now.
     
    silentg, TUGBrian and Passepartout like this.
  3. katie lucille

    katie lucille Guest

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    Thank you for your thoughtful response and explanation. Much appreciated!
     
  4. lvtraveler

    lvtraveler TUG Member

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    We faxed ours as documented on the Notice of Rescission, then followed up with an email to confirm... But agreed above, follow the recision instructions carefully.
     
  5. LannyPC

    LannyPC TUG Member

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    In addition to Karen's remarks above, I will say this. It's the law of supply and demand. With the case of over 90% of the TSs out there, there is far more supply than demand, hence the low prices. Also, many people are trying to dump their timeshares just to get out from under the MFs. Remember, the MFs in most cases ( a few in Mexico are exceptions) have to be paid each year whether you use the TS or not. And even if the MFs are affordable, the peripheral costs of traveling might not be.

    Then you have some owners who realize that they can rent a similar interval for less than the MFs which compounds the problem in that, if an owner can't use his week and wants to rent it out to recoup the MFs, he might not get it all back.
     
  6. katie lucille

    katie lucille Guest

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    Update: The office signed for my letter but they are not responding to emails, texts or my calls. I also have not seen a credit to my bank yet either.

    Spoke with the Attorney Generals office and they said that I've done everything I need to do. I just wish I had a way to verify that they don't submit the financing or the contract....

    I'll give it a few more days. If I dont recieve a credit for the deposit do you think I should dispute the charge?
     
  7. TheTimeTraveler

    TheTimeTraveler TUG Member

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    Don't worry about anything at this point. They have 45 days to refund your money.

    If you've done everything you need to then you are all set. You really don't want to speak with them because they may put some high pressure on you to keep the contract in place.

    Relax and enjoy life! :banana:




    .
     
  8. Karen G

    Karen G Moderator

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    I think someone
    has posted in the past that disputing the charge too soon caused a delay in getting the cancellation finalized. I know it's hard to wait but I think you've done all you need to do at this point so try to wait it out a while longer to dispute the charge. Maybe you could talk to someone at the credit card customer service office and see what advice they'd give you.
     

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