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Cancel Contract?

gwilson

newbie
Joined
Apr 8, 2021
Messages
1
Reaction score
0
Points
1
Resorts Owned
WorldMark
Has anyone had success canceling their contract long after the rescission period?
 

easyrider

TUG Review Crew: Elite
TUG Member
Joined
Aug 21, 2005
Messages
15,057
Reaction score
8,007
Points
948
Location
Palm Springs of Washinton
Resorts Owned
Worldmark * * Villa Del Palmar UVCI * * Vacation Internationale*
Has anyone had success canceling their contract long after the rescission period?

The only thing I can think of is death. When a person passes away no one has to claim their timeshare. Most people sell these memberships but the membership has to be paid off for most buyers to want it. If money is owed on the membership some people will stop paying and just let it foreclose then take the credit score hit.

Bill
 

TheTimeTraveler

TUG Member
Joined
Jan 23, 2008
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5,952
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Location
Florida
.

You can't cancel any contract after the end of the rescission period. You can make alternative choices such as:


1). Sell or give away your ownership

2). Declare bankruptcy (which can have a lot of downside to it).

3). Give your ownership back to the HOA



In any event, don't fall for any of those absolute scams from folks who claim they can solve your problem with an upfront fee. They will simply take your money and disappear forever.

Welcome to TUG.




.
 

dioxide45

TUG Review Crew: Expert
TUG Member
Joined
May 20, 2006
Messages
47,378
Reaction score
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Points
1,299
Location
NE Florida
Resorts Owned
Marriott Grande Vista
Marriott Harbour Lake
Sheraton Vistana Villages
Club Wyndham CWA
.

You can't cancel any contract after the end of the rescission period. You can make alternative choices such as:


1). Sell or give away your ownership

2). Declare bankruptcy (which can have a lot of downside to it).

3). Give your ownership back to the HOA



In any event, don't fall for any of those absolute scams from folks who claim they can solve your problem with an upfront fee. They will simply take your money and disappear forever.

Welcome to TUG.




.
There is no need to declare bankruptcy unless there is a mortgage against it. If it is paid in full, one could stop paying. I don't know how Worldmark works because I don't think it is deeded. So they couldn't foreclose if you don't pay MFs.
 

geist1223

TUG Member
Joined
May 20, 2015
Messages
5,974
Reaction score
5,728
Points
499
Location
Salem Oregon
Resorts Owned
Worldmark 97,000 Credits
DRI Cabo Azul 50,500
Royal Solaris San Jose del Cabo
If the Worldmark Account if fully paid off there are 3 Options:
1. Pay the yearly Maintenance Fees and learn to enjoy it.
2. Through Wyndham explore Ovation (turning back to Wyndham).
3. Go to www.wmowners.com and sell it.
 

Mongoose

TUG Member
Joined
Mar 15, 2012
Messages
2,073
Reaction score
1,081
Points
373
Location
Colorado
Resorts Owned
Hyatt Pinion Pointe, Hilton The Bay Club, Worldmark
Has anyone had success canceling their contract long after the rescission period?
If you have a mortgage on it no. If its paid off, many companies will take them back. Resale options are unlimited and depend on location and timing.
 

HudsHut

TUG Review Crew
TUG Member
Joined
Jun 6, 2005
Messages
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Welcome to TUG @gwilson

You didn't give us any info about your situation, but essentially, no. All you can do is stop paying, and deal with the consequences.

If you have the good health, and money to travel, WorldMark is a very flexible timeshare system. If you can afford it, begin using it. If you can't, stop paying now. Do not sign up with any outfit that calls you, claiming they can get you out of the contract. You will just throw away more money.
If you keep it, NEVER attend an "owner update". Just say "no, thank you", then walk away. Ignore the person who yells after you, or follows you.
 
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