cancel my timeshare

[garycherie]

I am trying to cancel a upgrade in timeshare i sent a certified letter stating i wanted to cancel i also went to my salesperson and give them a letter and they say i have to give up my equity in the current timeshare i own in panama city is wyndham trying to scam me out of 134K they say they cant resind the upgrade umless i do so

 

[paxsarah]

The good news is that the certified letter, if you sent it to the address in your contract by the deadline for rescission in your contract, is going to take care of cancelling your recent purchase. The salesperson is just trying to scare you into changing your mind. You never had any equity to give up. When salespeople talk equity, they're really talking the worth they give your timeshare if you're trading it in to purchase a different type/location of points. It doesn't have any value/equity in the real world.

So if the salesperson is trying to talk you into signing or agreeing to something, just disregard them. If they insist, I'd simply state something like, "I assume the rescissions department at corporate will contact me to take care of this step when they receive my letter." (They will not, though, because it's not necessary and just a sales scare tactic.)

 

[tschwa2]

Whatever you do, do not sign anything saying you are cancelling the rescission. This is one of the reasons here at TUG, we never suggest you go down to cancel with the sales department. Your salesperson is trying to scare you out of cancelling.

 

[boxer156]

I just rescinded on mine about a month ago, and did the following process:

1. Sent an email immediately to Wyndham--and attached my rescission letter
2. Sent both UPS Certified and USPS Certified Delivery that same day

I actually received an email back from them about 2-3 days after #1 above--stating that my payments had been cancelled. Didn't expect that--or trust it--so I still kept all my Certified Mail documentation just in case. About 1 week ago, I received the formal Letter from Wyndham stating that my contract had in fact been cancelled.

It was actually WAY easier than I thought--and I have to give Wyndham credit they followed through very professionally--and timely. With that said, I went out and got a 300k contract for $800 and I'm awaiting the closing on that lol.