Club Wyndham - Need Help Rescinding Contract $45k

[xverse25]

Definitely poor financial responsibility on my part, I’m usually better than this but being in Las Vegas this week with all the drinking definitely lead to some bad decisions here.

Got suckered into a Bronze VIP contract for 300k points, and when I said no they offered to upgrade me to Gold VIP (+500k points) for the first 2 years, and then when I was thinking real hard about it they offered another 300k bonus points for the first year, all adding up to $45k. Found it really hard to resist the points since I was planning to travel a lot this year and next, and I’m also pretty young, so saw the potential of the points adding up over the years, but after sobering up, these maintenance fees really add up! Saw the resale prices on eBay and realized I’ve definitely messed up!

I see the licensee name as: Wyndham Vacation Resorts, Inc. and the “Incentive Acknowledgment Disclosure” form lists the address to: Wyndham Vacation Resorts, Inc., 6277 Sea Harbor Drive, Orlando, FL 32821.

Any suggests on formatting the letter and the ways to send it to them to confirm and rescind this contract? It has been only 24 hours since I signed the documents.

For the transactions fees and processing fees, do I just end up eating that cost now? They’re non-refundable right? $28k was financed through them and $16k got charged on a 0% interest credit card. What happens to the credit card charge and the card itself?

Really glad I had AI do a search and review on this timeshare and found this forum. Would appreciate any help with this.

Thanks all!

 

[amycurl]

Congrats on finding TUG in time!
Letter needs to include the full names of everyone who signed the contract, and the contract number. Everyone who signed the contract needs to sign the rescission letter. Be sure to get proof of mailing within the time period to the exact address specified in the contract.

I don’t know what to do about the financing/ credit card. My understanding is that rescission will cancel all that as well, but others will come along to confirm that.


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[tschwa2]

All charges including transaction and processing charges will be reversed and credited. The opening of the credit card itself is a seperate transaction and that is not subject to the rescission, just the charges put on the card. You can keep the new card open or you can as a seperate transaction contact the CC and ask to close the account. Doing so may affect your credit in the same way it would if you had opened any new credit card and then decided to close it.

 

[dioxide45]

Definitely poor financial responsibility on my part, I’m usually better than this but being in Las Vegas this week with all the drinking definitely lead to some bad decisions here.

Got suckered into a Bronze VIP contract for 300k points, and when I said no they offered to upgrade me to Gold VIP (+500k points) for the first 2 years, and then when I was thinking real hard about it they offered another 300k bonus points for the first year, all adding up to $45k. Found it really hard to resist the points since I was planning to travel a lot this year and next, and I’m also pretty young, so saw the potential of the points adding up over the years, but after sobering up, these maintenance fees really add up! Saw the resale prices on eBay and realized I’ve definitely messed up!

I see the licensee name as: Wyndham Vacation Resorts, Inc. and the “Incentive Acknowledgment Disclosure” form lists the address to: Wyndham Vacation Resorts, Inc., 6277 Sea Harbor Drive, Orlando, FL 32821.

Any suggests on formatting the letter and the ways to send it to them to confirm and rescind this contract? It has been only 24 hours since I signed the documents.

For the transactions fees and processing fees, do I just end up eating that cost now? They’re non-refundable right? $28k was financed through them and $16k got charged on a 0% interest credit card. What happens to the credit card charge and the card itself?

Really glad I had AI do a search and review on this timeshare and found this forum. Would appreciate any help with this.

Thanks all!

You should be looking for the rescission or right to cancel section of the contract to locate the address. There might even be other options for rescission such as email or fax. BUT you need to make sure these are listed in the section that covers your legal right to cancel. The address for rescission might not be the same as the general address for the company that shows up in other sections of the contract.