Cancellation Letter, What do You think?

[James_Bond007]

Hi All,
I'm new here, My Wife and I went to Wyndham Grand Cancun in late Feb/24, we went thru a presentation and eventually signed up for a small amount timeshare/membership ($4200US), we paid a deposit of $1080US, we are from Canada. We have had second thoughts on it now, and don't think we need or will be using it in the future, but we are past the cancellation date already. I've been researching on this site, and it seems like they won't really come after us if we don't pay (starting in June we are set to pay $140US/mth for 24 mths), it would be too much hassle for them to go after us for such a small amount compared to what others have invested, and it should affect my Credit Score either from what ppl have been saying, since I am here in Canada, and they are in Mexico, and we have no Deed, just an membership agreement and such...
So today I thought to send them a cancellation letter, here it is, please let me know what You think, Please and Thanks,, James

"
Hello,



We are writing to You to cancel our Contract with Caracol Club Vacational, S.A. DE C.V.Contract # Customers are James and Nordia .



The total amount of the Contract is for $4200 US, We have paid a deposit of $1090US, with a Balance owing of $3360.00 in return we get 1 week E Studio over a period of 3yrs starting Feb 24,2024, we have decided that this in not for Us, as well since the signing of the contract on Feb 24/24 some financial changes have happened for Us and it is now not in our intention or plan to use the Timeshare anytime in the near future.



We ask that this contract be Cancelled ASAP, and that a portion of the deposit be sent back to Us, we ask that out of the $1080US deposit that was paid, that only $850US of it be paid back to Us, the rest can be kept by Caracol Club Vacational as we did spend time with the Representative Diego Martinez and learned allot while with him…Please send said amount of $850US to the credit card used initially to make the deposit purchase, if that is not possible then send a cheque to our address that You have on file, we ask that You inform Us of when this is happening as soon as possible.



We have done our research on our options, since we do not possess a Deed to any property, and we have only purchased a “Membership” of sorts which entitles Us to some time at the Wyndham Grand Resort on a Year to Year basis, and since we have not used this service as of Yet, and no Service has been Given we think this is Fair, since our situation has changed and nothing has been lost or gained.



We ask that You respond to this ASAP so we may close this issue and move on with Life!



Thank You for Your time concerning this Matter!



James / Nordia

 

[dioxide45]

The second and fourth paragraphs are not necessary. You don't need to spell out the terms of the contract and you don't need to give a reason. I would also wipe out the third paragraph. You are entitled to a full refund. No need to offer them to keep some of your deposit because you feel guilty for cancelling.

 

[James_Bond007]

The second and fourth paragraphs are not necessary. You don't need to spell out the terms of the contract and you don't need to give a reason. I would also wipe out the third paragraph. You are entitled to a full refund. No need to offer them to keep some of your deposit because you feel guilty for cancelling.

Ok, thank You for Your Advice, much appreciated

 

[byeloe]

I think that it is unlikely that you will receive any refund since you are past the rescind date. I would cancel the credit card that is set up for future payments

 

[James_Bond007]

Ok, Thank You too Byeloe for Your advice too

I sent off the email and they have responded, they sent pics of the contract signed, reviewed what the contract is offering (funny thing is that they mentioned the "side benefits" of the package, access to Owners Link, Just book and asap weeks given to us, 1 dream week and 14 Caracol nights at Wyndham Grand Cancun, plus 4 nights at WGC free with AI, but nothing about the timeshare part which is as far as I can tell entitles us to 1 week for 3 yrs at a Estudio at WGC not including AI bracelets for all occupants), and that too get out of it we would have to pay another $1200US and not get any of the other money back, and of course if we don't pay that our credit score would be affected...

Yes I think the next option is too just cancel my current credit card (think of switching anyways to one that has some points attached to it) and let it go, since we have no deed and they are in Mexico and we in Canada...

 

[James_Bond007]

Hi All, I'm still nervous about not paying up and cancelling my CC, we don't have to start making payments till June, so there is some time, I like everyone else don't want any Credit score repercussions and hassles with collections and those sorts of issues...Plus if we don't pay, and we go back to Mexico can anything happen??

 

[TheTimeTraveler]

Hi All, I'm still nervous about not paying up and cancelling my CC, we don't have to start making payments till June, so there is some time, I like everyone else don't want any Credit score repercussions and hassles with collections and those sorts of issues...Plus if we don't pay, and we go back to Mexico can anything happen??

Are you cancelling or defaulting? If you're past the rescission period then I would call it a default.

I would think if they have your credit card information then they will continue to protect their income and make an attempt to collect. Keep in mind that you willingly signed the contract and did not rescind within the legally allowed timeframe. Had you done so then you wouldn't be having this conversation.

I doubt anything will happen if you default and decide to return to Mexico at some time in the future. Be sure to keep your hands in your pockets and do not sign any timeshare contracts.

Clearly not what you want to hear but it is what it is.







.

 

[James_Bond007]

Are you cancelling or defaulting? If you're past the rescission period then I would call it a default.

I would think if they have your credit card information then they will continue to protect their income and make an attempt to collect. Keep in mind that you willingly signed the contract and did not rescind within the legally allowed timeframe. Had you done so then you wouldn't be having this conversation.

I doubt anything will happen if you default and decide to return to Mexico at some time in the future. Be sure to keep your hands in your pockets and do not sign any timeshare contracts.

Clearly not what you want to hear but it is what it is.







.

Oh No Problem, I need to hear that more often lol. Actually feeling kinda foolish, I don't know what was in us to sign this things, we refused to sign the initial offers, then they sent this other guy that asked us questions about the person that showed us the set up and if he did things in a certain way, quality control they said, then he asked why we didn't want to sign, we said money/commitment, then he offered us this trial version of it, only $4200, with $1K down, so we thought what the heck! Later on my wife was having second thoughts, I should have listened to her then and just got out of it when there, but here we are...My main concern now is just by defaulting, how will that affect if at all my credit rating, like if they sell the debt to a collection agency up here in Canada, won't that show on my Credit report? Thanks for the advice TheTimeTraveler

 

[James_Bond007]

Hello,
Just an update and question, I have cancelled my CC attached to this contract, and also filed a dispute for the downpayment, I thought I would try and see what happens, probably will not get the downpayment back but what the heck... So the first installment payment of $140/US was scheduled to come off the cancelled CC on June 1st/24, I just go two emails from a lady at Resorts Advantage com, the first one was a review of our Account Statement with all the details of what we paid up front ($1040 US) and the balance owing which is $3300 US, they say its a trial membership... Then the 2nd email from the same person, states
"
Dear Member,
Below find the bank details to make your payment.

Currency Bank Name Bank Address Account Name Account Number Swift/CLABE Convenio Referencia
USD Bank United 6300 South Dixie Highway Resorts Advantage Ltd. Inc. 9852633661 ABA# 267090594 BUFBUS3M 053058
Sincerely,
Member Services."

I thought I recognized the Resorts Advantage LTD Inc, so I looked it up, they are a property management and collection agency, but I do not remember that name on the contract, will review it again, they are out of Miami.. Now we are in Canada, what do You guys think, is it in collections already and they are playing nice for now and will up the anty soon??
Thanks
J

 

[WorldT]

They will. Just ignore them . Don't answer anything. I don't see how they can affect your credit. You didn't buy a deed from them. You signed up for membership in a club and decided not to keep it without using any of the benefits.

 

[James_Bond007]

They will. Just ignore them . Don't answer anything. I don't see how they can affect your credit. You didn't buy a deed from them. You signed up for membership in a club and decided not to keep it without using any of the benefits.

Thanks for Your Reply, I hope it blows over eventually. The resort was great but they made it look like we would be getting great deals on other travel places and such, but I've found better rates elsewhere.. We initially declined their first offers, which were $15K and up, then on the closing interview which we were told was just a quality control interview to see if we were presented the complete information, they older guy offered us this "trial" membership, so we reluctantly went for it, but soon regretted doing so...Thanks Again!!

 

[James_Bond007]

I've been doing some more research, mostly about the chances of my credit score or worse being affected by all of this, it seems depending on how much they want to $$ to be paid, that they could get the debt to a collection agency up here and have it go from there, maybe even sue and bring it to the courts, but with our debt not being that much compared to others ($3300 US is all that is owing), it may cost them too much to go after that small a debt.

I was offered a deal to get out of it, pay another $1200 US and they would cancel it, that means overall I would have paid $2204US for basically nothing (which is $3020CAN), which for me is still a bit of $$ too forfeit for nothing..

 

[easyrider]

Wyndham Grand Cancun in late Feb/24

Wyndham does business in Canada and the financing is likely an unsecured Wyndham credit card. If so, the default would play out in Canada the same as any Canadian credit card.

You are way past the five day rescission period meaning there would be no refund of any monies paid if you walk away.

Bill

 

[James_Bond007]

Wyndham does business in Canada and the financing is likely an unsecured Wyndham credit card. If so, the default would play out in Canada the same as any Canadian credit card.

You are way past the five day rescission period meaning there would be no refund of any monies paid if you walk away.

Bill

Hi Bill,
Its Thru Caracol Vacation Club, but there are plenty of names on the contract as ppl representing other ppl or organizations, Wyndham Grand is the place we stayed at but Wyndham name is not on the contract at all from what I can see

 

[easyrider]

Hi Bill,
Its Thru Caracol Vacation Club, but there are plenty of names on the contract as ppl representing other ppl or organizations, Wyndham Grand is the place we stayed at but Wyndham name is not on the contract at all from what I can see

How did you finance this ? If it is financed with a Wyndham credit card on behalf of Caracol Vacation Club the loan is enforceable in Canada.

Bill

 

[James_Bond007]

How did you finance this ? If it is financed with a Wyndham credit card on behalf of Caracol Vacation Club the loan is enforceable in Canada.

Bill

Its 0% financing and not thru Wyndham credit card, as they are not mentioned anywhere in the contract, Only Caracol Vacation Club, I think they lease space/rooms from Wyndham..

 

[SteveinHNL]

I don't think I would be paying them any more money. But maybe that amount is worth the peace of mind to you, to know that it is over and done with. I doubt any of this will have any impact on you if you just ignore it from here, but my doubt would be no consolation if somehow this winds up on a credit report.

 

[easyrider]

Its 0% financing and not thru Wyndham credit card, as they are not mentioned anywhere in the contract, Only Caracol Vacation Club, I think they lease space/rooms from Wyndham..

I'm curious as to what company financed this. Maybe Caracol Vacation Club. I'm also curious where and to who the maintenance fee is sent. Do you pay it to Caracol in Mexico ?

Bill

 

[James_Bond007]

I'm curious as to what company financed this. Maybe Caracol Vacation Club. I'm also curious where and to who the maintenance fee is sent. Do you pay it to Caracol in Mexico ?

Bill

Yes I believe it is too Caracol Vacation Club, but its a loan of sorts, the total amount was $4200US, and we paid $1000US down on the day we signed, and he offered us 0%financing to pay of the rest which is supposed to be $140/mth for 24mths...

 

[easyrider]

Yes I believe it is too Caracol Vacation Club, but its a loan of sorts, the total amount was $4200US, and we paid $1000US down on the day we signed, and he offered us 0%financing to pay of the rest which is supposed to be $140/mth for 24mths...

I think you might be able to walk away without much other than losing the down payment and some phone calls or other communication with your balance due, lol.

Bill

 

[James_Bond007]

Hi,
Just an update and need some opinions on something..
They are still sending us updated invoices with the same $140 due for month payment, no late charges as of yet...

I found this guy giving advice and offering seminars on how to get out of timeshares, and he says for Mexican timeshares all it is is Vacation Club Memberships, as has been said here too, he also says that because the Jurisdiction is in Mexico, they cannot do anything to You if You live in USA or Canada, and they cannot do anything with your Credit Rating, here is the video, he does say that they can do some illegal things if they have your SSN or for us in Canada our SIN # which in my case they have, they can use it for identity theft which of course is illegal but you have to go thru a process if this happens.. I have two credit checks applications at the moment Credit Karma, and I have one thru my bank that keeps track of Credit Scores and suspicious activity. His name is Wayne C. Robinson, have any of You here heard of him, is he credible?
Thanks..

 

[James_Bond007]

I think you might be able to walk away without much other than losing the down payment and some phone calls or other communication with your balance due, lol.

Bill

That's the plan, the CC dispute was recently closed but I have to call them to find out what happened, as its not showing up with any info about the Closure of the dispute and such, I imagine I won't be getting anything back in regards to our deposit, but walking away from it means no more wasted $$..
Thanks Bill!!

 

[James_Bond007]

HI All,
Just another quick update, it appears that I have won my CC dispute, they closed the case a couple of weeks ago, I wasn't able to find out the details of what happened on my online account as my CC (which I also cancelled) was no longer showing up after the dispute case was closed.. I just called them today and found out I won the dispute, which is really surprising, hopefully they send me more info but I will be getting most of my $$ back from our initial payment when we were at the Resort back in February, hopefully this is the end of it... Caracol Vacation Club/Resort Advantage sent me an invoice for the late monthly payment with a late charge added on, and they either call me once a week or send 2 emails a week, but I recently saw a video from Wayne Johnson and he said they cannot do anything to You legally if You live in Canada or US..hopefully they don't use my info illegally, fingers crossed

 

[pittle]

Thanks for the update!

 

[James_Bond007]

Another Update.. This seems weird, so I've recouped most of the down payment we made when at the resort from our CC company, which was surprising, I won the dispute, but the Caracol Ppl are still contacting me, they've called asking for a callback to discuss things, and email me invoices for the 2 late mthly payments with late charges attached, and yesterday they called again and emailed me a notice saying if I don't pay what is owed within 10 days then they will report it to the credit bureau and my credit rating will be affected, but I won the dispute, they haven't mentioned anything about that, doesn't the bank collect their money from the company named in the dispute?? Any how will see what comes of this, that person I saw on the video Wayne Robinson says they can't do anything other than identity theft which is illegal!!