Another helpful hint when trying to rescind a timeshare purchase

[Karen G]

A poster in the Mexico forum reported that he was able to cancel a timeshare purchase in Mexico via his credit card. He was past the five day rescission period allowed in Mexico but he was still with in the 14 day time period allowed by Visa to cancel a purchase.

I don't know if this policy applies to all Visa credit cards but it would certainly be something to check into if one were in such a situation.

 

[Passepartout]

I could see how the Mexican resort office processing rescissions, when faced with a rescission letter- even a few days late- AND notification of a credit card down payment being contested might be inclined to back down. Add a questionnaire from PROFECO questioning fraudulent sales practices, and they might decide the buyer is just not worth the hassle. The last thing they want to do is split the sales commission with a collection agency in another country.

That might give us another tactic to inform people of. Especially those that get trapped into buying at the beginning of their vacation and for any number of reasons don't get a rescission letter into the mail in the required 5 days.

We can hope.

Jim

 

[theo]

Comparing apples and enchiladas...

A poster in the Mexico forum reported that he was able to cancel a timeshare purchase in Mexico via his credit card. He was past the five day rescission period allowed in Mexico but he was still with in the 14 day time period allowed by Visa to cancel a purchase.

I don't know if this policy applies to all Visa credit cards but it would certainly be something to check into if one were in such a situation.

Whoa! Let's be very clear here that the legality of a binding contract and credit card company policy are completely unrelated issues and entirely separate conversations.

This tactic might very well work for a purchase in Mexico, simply because Mexican sellers know that they have absolutely no leverage over someone in the U.S.A. anyhow.
For a U.S. purchase by a U.S. citizen however, that ain't so. Credit card dispute alone in the U.S. would have absolutely no bearing or impact on a rescission attempted and filed "too late" under applicable state law if the U.S. developer chose to play hardball (...as I suspect that many would --- and they surely would ultimately prevail).

I'm happy for those who belatedly escaped a "Mexican Mistake", but I wouldn't want U.S. folks to think for one moment that it would ever be that easy here in the U.S.

 

[cyseitz]

Wyndham Branson Meadows

We got $150 American Express Card for going to an owner update in July.

 

[bnoble]

still with in the 14 day time period allowed by Visa to cancel a purchase

I'm not familiar with this policy. Can anyone point me at a credit card that actually states this?

 

[theo]

Howzzat now?

We got $150 American Express Card for going to an owner update in July.

Very happy for you --- but of what relevance is this to the discussion at hand about contract rescission and credit card dispute policies?