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Cancelled Vistana contract; follow up Qs

dribkcalb

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hey all,
A couple weeks ago my husband and I purchased a Sheraton flex plan and later that night, something wasn't sitting right with me about it. Within a few days, I checked the Vistana website and there was NOTHING available. I mean literally not a single random weekday for as far out as I could search. So immediately told him we’re canceling (later to discover that nothing was showing in our search results at the time, but a week later it would…? oh well, I’d still rather rescind now and do some research rather than stick with it and hope we figure out how to make it work eventually) we wrote up a letter, sent it certified mail, etc.
I have a few questions though
1. if they don’t confirm our rescission before the first payment is due, will it affect our credit? (looking like we’re past due on a loan because they haven’t cancelled it yet) I sent the letter within the 5 days, but I’m not sure how much time they have to review it/ actually cancel everything.
2. we made our down payments on the SPG Amex cards we opened with them that day, will we get that back as well? Does anyone know if the credit cards stay open or if they’ll close those out as well?
3. they gave us the catalog stuff on a kindle fire, will I have to ship it back to them, will they dock the cost from our down payment refund, or will they just let it go and not try to charge us/get it back? (I don’t care if they want it back, it’s a crap tablet and isn’t terribly expensive if they do want to charge me, I just want to know about any charges they may try to slide in there)
 

taterhed

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Well, you didn't mention the state....which affects the legal requirements.

I'll assume you complied on the legal requirements for rescission, based on your statements.
Many states have a 20 day rule on the financial reimbursements. Not sure how well that's enforced.
I would call the CC companies and provide documentation, if required, that you have legally rescinded and request they suspend payment/dispute the charges if necessary to avoid paying on a closed debt. It's still your financial responsibility to pay by the 'terms of agreement' to avoid penalties etc....
Debts are rarely reported to credit agencies inside of 30/60 days overdue...so that's unlikely.
The lines of credit will likely stay open unless you specifically cancel them. Additionally, they were probably 'hard pulls' and will remain on your credit history whether you close the cards/LOC or not. So, if you need/want the cards...might as well leave them open for now. They will probably count against your 5/24 (although some SPG Amex cards do not...).

Others have reported not being charged for the tablet, but they have the right to charge you if you don't return. It's fine to 'wait and see' and then return the device if requested/debited. If they fail to fully return your funds, dispute the amount, return the item and provide documentation of the return--requesting full refund or have the charge removed via dispute resolution. Keep good records.

Congrats!
Welcome to TUG. You've saved a bunch of $$$$$

After things settle down.....
Come back to TUG and see if a Timeshare is right for your families needs and vacation plans. All that good stuff they told you? Well, some of it is very true (great vacations with family, better rooms, fabulous resorts...a commitment to spending vaca time with family every year). The parts about the high-priced developer sales....well, that part is less true and much more money.

Resale timeshare ownership is a great value and a great solution for many folks. Come back and find out what is right for you.
Most timeshare ownership (weeks, flex, points etc....) can be had for pennies on the dollar. BUT!!! Educate yourself first and figure out the truth before you buy.

Buy resale, buy once...buy right.
Consider joining TUG: best $15 you'll ever spend.

Cheers!

Great place to start is here: TUG timeshare Advice!
 

DavidnRobin

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Congrats on the Rescind - whew!!! Close one.

You wouldn’t have seen them as your account would not become active that quickly (within recession period)

Don’t sweat the other stuff - it will get cancelled. VSE is on the up-n-up on this as long as they got your recession letter in time.

We never returned our materials - nothing was said or charged.
Resale...
 

okwiater

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You wouldn’t have seen them as your account would not become active that quickly (within recession period)
When we purchased Flex, the contracts showed up in Villa Finder later that same day.
 

DavidnRobin

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When we purchased Flex, the contracts showed up in Villa Finder later that same day.
You were already in system - correct?
This is new owner.
My first ownership took a couple of weeks to show up in their system (pre-online). How about your first ownership - did it show immediately?

Regardless, good for them - and they shouldn’t worry - VSE will process the rescind (as long as received).


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NiteMaire

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DK1456

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Congrats on the Rescind - whew!!! Close one.

You wouldn’t have seen them as your account would not become active that quickly (within recession period)

Don’t sweat the other stuff - it will get cancelled. VSE is on the up-n-up on this as long as they got your recession letter in time.

We never returned our materials - nothing was said or charged.
Resale...
hi, how long does it take Vistana to cancel and refund? I am on day 15 since my letter was delivered (within 10day cancellation period) I have not heard anything. Thank u
 
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DavidnRobin

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hi, how long does it take Vistana to cancel and refund? I am on day 15 since my letter was delivered (within 10day cancellation period) I have not heard anything. Thank u
Mine took about 2 weeks, but that was a while ago.

As long as you sent recession letter - it will show. If you are worried about CC charge - don’t pay the VSE portion and contact your CC company that you have rescinded the contract.


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DK1456

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Mine took about 2 weeks, but that was a while ago.

As long as you sent recession letter - it will show. If you are worried about CC charge - don’t pay the VSE portion and contact your CC company that you have rescinded the contract.


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Thank you so much for your response and advice. Today is day 16, still no luck yet with my refund. Yes I will contact my cc company. Thank you again.
 
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