Any sugestions on cancelling Wyndham contract after the recession date has passed

[kshirese]

My husband and I signed a contract Jan 21, 2016. We were told we would not have access to the website for 4-6 weeks. We were told a lot of things actually, not told a lot of thing would be more appropriate.

Long story short. I have not used the service and doubt we ever will. I do feel the presentation grossly misrepresented what it is we actually get for the points we purchased, availability, pricing and investment potential. I don't know if its just sheer ignorance on our part or fraud on their part. I tried contacting the sales office and only received a voicemail so I called the "quick start hotline" where I was provided with far more than just bad pictures of run down resorts. I was told the only way out is to pay the contract and Wyndham can decide if they want to take it back or go through a realtor and sell.

I am not sure how you are supposed to fully assess something to cancel in seven days if you have no access to it for 4-6 weeks. I admit, its my fault for not reading the contract in its entirety but after being there for 5 hours and a blizzard on top of us I just wanted to leave. We had to put down a deposit of $2,167 which makes me feel even worse. I had high hopes of dream vacations and now I fear all we have is a nightmare.

HELP, someone has to knowhow to get from under their thumb.

 

[Passepartout]

Actually, what you found out is accurate. You had at least 5 days or more to read and rescind the purchase. Now it's VERY difficult to end a legally constructed and signed contract. Sorry.

Worse, on the resale market it is worth a very small percentage of the price you paid. So even paying it off, you'd be lucky to get 10-20% of what you have in it.

SO REALLY the best tactic at this point is to hang around TUG and learn to use what you bought. Wyndham resorts are very nice places you and your family can use to make some great family memories. Recently we took a poll of where/how TUGgers acquired their first timeshare and almost exactly half bought from the developer. And many even bought subsequent time from developers too. So you are in good company. Hang out in the Wyndham forum, and newbies forum. Get the owner's manual. It has a wealth of information, and all the terminology you'll find to be able to get the most from your ownership.

Welcome to TUG!

Jim

 

[vacationhopeful]

The interest rate on your newly acquired loan will also make you sick. Start looking for a way lower interest rate to pay it off...

examples:
a)open a new credit card which has a 0% interest rate for 6 months to a year.
b) open a home equity line on your house to pay off the Wyndham financing.
c) ask for a 'family' loan at a very LOW to none interest rate & pay it before the cableTV bill ... and take them/give them vacations (not for payment, but as a "you saved our ass" gift.
d) get a 2nd job
e) mow your own grass
f) clean your own house

Do NOT stop paying into your retirement fund or matching savings programs with your employers.

And get out your budget to add the expense monthly of MFs (maintenance fees) and this loan payment .. to whoever or what institution you WILL BE PAYING.

Review all those budget items that can be downsized: Cable TV bill, gym membership, personal trainer, contract cell phone bills and options; not buying a new car; fast food eating; brown bag your lunch to work; until you get rid of this TS loan.

PS And every time you go away to use a vacation stay ... YOU will be spending MORE money on costs to travel there, eating out, doing things (like river rafting or admission fees to events/parks) ... so put that loose change every night into the "GO AWAY FUND".

 

[kshirese]

Jim Oh no! Thanks for the feedback. I will continue to monitor the site and look into a lawyer. I would much rather pay one rather than to give Wyndham another penny. I am just not interested in the resorts. I simply want out of my ownership but, you seem to like would you like to purchase mine.

 

[kshirese]

Linda that sounds about right....sigh! lets see what the lawyer says.

 

[tschwa2]

Wyndham has a lot of very nice resorts and a few older resorts. They may have shown you the point chart for some of those older resorts showing you how much time you could get with what you bought. The reality is you aren't going to get multiple weeks in the nicer resorts during peak season.

 

[ronparise]

You can still have "dream vacations" but I agree the "nightmare" is what they will cost

You didnt say how much you bought but Im guessing from this statement "the presentation grossly misrepresented what it is we actually get for the points we purchased," its not very much

For the sake of the discussion Ill assume 105000 points t about $20000; 10% down; finance the remainder at 18%. It could be more or less but my suggestion will be the same. so using my assumptions your cost per point is 20 cents and your monthly payment on the loan is about $300 and maintenance fees about $50 a month This will buy you a week somewhere in the off season and your cost per week (until the loan is paid off) will be about $4200

My suggestion is this. Buy a million points on the secondary market for $3000 or so, Now your total out of pocket is $5000 and you monthly expense will be the same $300 a month for the loan and about $500/month for the maintenance fees. (9600 per year) with your 1.1 million points you can do 10 of those 105000 point reservations, do the math and thats less than $1000 for a week.. Not great but not bad either but certainly dream vacations that will provide memories forever

My first purchase was 385000 points and my wife was pissed at the new monthly expense I had taken on. Her comment was...you better figure out how to rent this sh**. So I did

I made 6 weekend reservations and rented 5 to pay for all my maintenance fees, leaving one for us to enjoy ourselves>

Im not suggesting you do what I did, or that you would make enough to pay all your fees and loan payments but I could, and I bet you could too


so my advice is the same advice I gave my clients when I was a stockbroker; "average down"

 

[ekajun1957]

Not knowing how many points and where the points are and your financial situation and what your vacation dreams are makes it hard to give advice on how to use it.
Also don't get trapped into upfront money for promises to get you out and lawyers and such. Just usually more money lost.
Like Ron said there are ways to go forward and make it work. First get educated on what you have and what it will take to get use from it. Could be Ron's advice to get more is best if you can. I used his advice and although I have not recouped much of my original cost I offset my yearly expenses which is what I was hoping for at this point.
Good luck and use this forum to your advantage, don't be afraid to ask questions. Go look for subject headings that you think could help and read them.
Again another thing is that timesharing is lot like other things, requires an investment of time to really make it work.

 

[ronparise]

Not knowing how many points and where the points are and your financial situation and what your vacation dreams are makes it hard to give advice on how to use it.
Also don't get trapped into upfront money for promises to get you out and lawyers and such. Just usually more money lost.
Like Ron said there are ways to go forward and make it work. First get educated on what you have and what it will take to get use from it. Could be Ron's advice to get more is best if you can. I used his advice and although I have not recouped much of my original cost I offset my yearly expenses which is what I was hoping for at this point.
Good luck and use this forum to your advantage, don't be afraid to ask questions. Go look for subject headings that you think could help and read them.
Again another thing is that timesharing is lot like other things, requires an investment of time to really make it work.

ekajun1957 is correct. my advice wont sane any money, It will cost you a whole lot more... all it does is average down the cost per vacatiom

 

[Passepartout]

Looking back at #4, the OP says she isn't interested in the resorts or TS in general and doesn't want to give Wyndham any more money. I don't think she is interested in 'averaging down' the cost of even more vacations.

Kshirese, you can certainly just not pay them, but there will likely be consequences. Those will certainly include harassing phone calls and collection letters, and may well result in a credit ding, judgement, and possibly garnishment. It wouldn't happen right away, but Wyndham is unlikely to just give up and let you off. They're like that.

Jim

 

[raygo123]

Maybe you would want to look at the post " about to start foreclosure process "

Sent from my Nexus 7 using Tapatalk

 

[am1]

Without reading what the others wrote (I am sure all good info), I got a contract cancelled (direct sales, no tour) that I purchased in September of one year and the following May sent in the documents to finalize it. I forget the timeline in the middle except I was traveling and had to stop in at a US Embassy to sign the deed back. A few more details to this then being mislead or buyers remorse.

Best of luck in using your timeshare or getting it cancelled.

 

[TUGBrian]

doesnt cost you much of anything (postage) to write a letter (or 10) to the rescission address and demanding they accept the cancellation.

tis all a "cancellation firm" would do anyway.

 

[Bigrob]

Linda that sounds about right....sigh! lets see what the lawyer says.

Don't get suckered twice. Some lawyers may tell you that you have a good case and bill you for lots of hours, with nothing to show for it at the end. Then you have legal fees on top of the costs with Wyndham.

I'm not saying it's impossible. But Wyndham is very experienced in these matters and it's a good bet that you did not walk away from the presentation with anything in writing that is in conflict with the terms of the contract you signed; verbal representations are trumped by the written contract. I would just hate to have you pour good money after bad.

 

[Vacationfuntips]

This is a link to the Club Wyndham Plus Member's Directory 2014-2015.

http://www.nxtbook.com/nxtbooks/wynd...5/index.php#/1

A new Wyndham directory should come out soon to view with some of the newer resorts and the club program changes.

When I can't find something using Club Wyndham, I use RCI to do an exchange with my points. There are so many vacation possibilities! You can set up your RCI account by calling the Wyndham/RCI line. 1-800-572-0931. You get an RCI account at no additional charge which is paid with your maintenance & program fees.

You may just want to learn how to use what you've just purchased. My advice is NOT to buy more points unless you LIKE the program and learn to use it. You can learn about the Points Credit Pool (to have access to future use years points and have 3 years to use those points from time of deposit) or borrowing your future use year points for FREE if you need more points to make a reservation (good for Express Reservations) . You can even RENT additional points online for $8 per 1,000 (easy to do once you make an EXPRESS Reservation) If you cancel the Express Reservation the SAME Day. Points are Returned and available to use again before they expire.

If you deposit your Wyndham points into RCI you get 2 years to use them. You can also extend your points if you cannot use them all in 2 years by paying the current fee of $99 to do it.

Read the Club Wyndham Directory and learn more...

Good luck in whatever you decide is best for you?

Cynthia T.

 

[kshirese]

Thanks for all the feedback. If I thought I would enjoy using the timeshare I wouldn't bother with trying to cancel it. If I felt that it was worth the money I have to pay out then the issue would be moot. It seems like a lot of work that needs to be invested in going on a vacation. Points, weeks, buying more points, reading directories, go to RCI....A Vacation shouldn't be work and a lot of effort. I just want to pick a location, go to trip advisor read the reviews, pick a place and pay for it and airfare and go at my leisure. Everyone is entitled to what they like. I just don't like Wyndham. Now, I may just have to chuck it up to a loss but, I am not ready to do that just yet...So, I will keep you all posted on my progress if, I have any. Failure is when you stop trying....Thanks again for all the suggestions. BTW My contract is for 84,000 points for $14,000 knowing what I know now yeah not a deal and NO I am not going to buy more and NO I am not even going to use those...lol! If you want them please let me know how I can give them to you but of course the contract comes with them.

 

[vacationhopeful]

Thanks for all the feedback. .....snip ..... If you want them please let me know how I can give them to you but of course the contract comes with them.

If you mean, the "mortgage contract"? ... that you will be stuck with UNLESS Wyndham agrees to cancelling it.

Go check the closing prices on eBay for Wyndham points ....

And another piece of advice .. nobody emailing or cold calling you has ANY way to get Wyndham to agree otherwise... as those firms ALL promise to get you your down payment money back and cancel the purchase contract ... just pay $599, $2295, etc via Western Union or certified funds. THOSE ARE SCAMS.

 

[Vacationfuntips]

Thanks for all the feedback. If I thought I would enjoy using the timeshare I wouldn't bother with trying to cancel it. If I felt that it was worth the money I have to pay out then the issue would be moot. It seems like a lot of work that needs to be invested in going on a vacation. Points, weeks, buying more points, reading directories, go to RCI....A Vacation shouldn't be work and a lot of effort. I just want to pick a location, go to trip advisor read the reviews, pick a place and pay for it and airfare and go at my leisure. Everyone is entitled to what they like. I just don't like Wyndham. Now, I may just have to chuck it up to a loss but, I am not ready to do that just yet...So, I will keep you all posted on my progress if, I have any. Failure is when you stop trying....Thanks again for all the suggestions. BTW My contract is for 84,000 points for $14,000 knowing what I know now yeah not a deal and NO I am not going to buy more and NO I am not even going to use those...lol! If you want them please let me know how I can give them to you but of course the contract comes with them.

I really don't know how successful you will be trying to get out of your contract?

You might want to consider using your points and renting out your booked vacation to try and re-coup some of your contract costs and maintenance fees. You can book a vacation for friends or family too. You do get 1 Wyndham Guest Confirmation to use each year at no additional charge with your points package tier.

84K points doesn't sound like too many points to manage, it can be used to book some very nice vacations within the Wyndham system. Look through the Club Wyndham Plus Member's Directory to see what your points will buy? If you need more,you can turn those 84K points into 168K points using the Points Credit Pool to save up your points to a higher total by depositing them with Wyndham for a $39 fee and have 3 years to use them. However if you do use the Points Credit Pool you lose the ARP booking ahead benefit (You can book your vacation 13 months in advance with ARP at your "Home Resort" or CWA resort). You can book your vacation 10 months or less anywhere else within Club Wyndham based upon availability.

Timeshares are NOT for everyone. You must learn how to use it. For me, it took me awhile - lots of reading (over and over) the Club Wyndham Plus Member's Directory hard copy and online copy. Reading posts on Tug BBS is very helpful.

Wyndham is a very flexible timeshare system. It has rules, but once you learn them - you can use your points to SAVE a ton of money on your vacations.

When I first purchased my points, I thought that perhaps there were just a handful of Club Wyndham resorts that I might ever consider going to. I did not really want to plan out things so far ahead. It is very challenging sometimes with work and family commitments that come up. However, there is flexibility within the Club Wyndham system, and reservations can be canceled and points returned back to your account (if you cancel at least 15 days or more before your vacation).

Keep in mind, there are often extra costs involved with regular hotel stays such as internet, parking fees, resort fees, taxes, etc... that can really add up. With timeshare it is mostly already included with your vacation points (know that each resort has it's own fee structures so you must read the resort details to find out the cost extras - if any?)

I am really enjoying the Wyndham product much more than I originally thought. The room quality, cleanliness and furnishings at places that I've gone to within Club Wyndham I really never had any issue with. Sometimes I wished decor was to a higher standard, or the location a bit more central to the area's highlights - but all in all not a deal breaker.

Club Wyndham has many locations to choose from. I would prefer some more tropical spots to choose from, but Club Wyndham keeps adding more places to their timeshare portfolio - so I remain hopeful.

If you set up your online access at www.myclubwyndham.com you can view room floor plans, unit sizes, points charts, resort maps, amenities, etc... Not all Wyndham properties are equal - but with patience you can look up properties that you might find interesting at locations you DO WANT TO Go TO and use www.tripadvisor.com to check those property reviews.

With RCI Exchange, I have traveled to some really wonderful places for really great price/per point ratios. Without RCI, I could have spent 5-8K for just 1 vacation if I paid out-of-pocket (without timeshare). I checked dates and prices with popular travel sites - I felt I really got the most bang for my buck. RCI also has LAST CALL vacations for under $300 for the week (travel within the next 60 days or less). There is also RCI Extra Vacations - for additional cash purchased vacations (no points involved).

Again, timeshare is NOT for everyone, and no one likes to feel they have made a mistake because of a salespersons promises, lack of information or any misrepresentations. However, if you can try to figure out how to make it work, you might be able to enjoy what you have already purchased?

Good luck!
Cynthia T.