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.

 

[WManning]

See sticky at top of this forum it will walk you through the process. Please let us know when you recieve acknowledgement from Wyndham on rescind request.

Sticky - HELP! How can I cancel/rescind my recent Wyndham timeshare purchase

How To Rescind Your Recent Wyndham Timeshare purchase This post is designed to be a quick guide on how to rescind your timeshare purchase from Wyndham. If you are not purchasing from Wyndham, or want a more in-depth guide please refer to this TUG advice article...

tugbbs.com

[ 2019 ] Instructions on cancelling your recent Wyndham timeshare purchase

This is a work-in-process on a sticky I would like to create that provides specific instructions on how to rescind a Club Wyndham purchase agreement. Please use this post to provide constructive comments. At some future date I will zap all the comments and make this a sticky. Thanks How To...

tugbbs.com

 

[xverse25]

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.


Sent from my iPad using Tapatalk

Thanks for responding. When you say “everyone who signed the contract”, you mean just everyone financially responsible right? There wasn’t anyone else with me during time of purchase and signing, like from my side. I don’t have a spouse or anything, but the contract had a licensee from Wyndham sign as well with the processing. I don’t need to go back for their signature do I? As I’m flying out of Vegas later tonight.

The same “Incentive Acknowledgement Disclosure” page mentions “If Buyer cancels the timeshare purchase contract during the applicable cancellation period, the right to receive Wyndham Reward Points will be automatically cancelled without notice, penalty or obligation.”

At the bottom of this page is that same address to Orlando Florida. Unfortunately it doesn’t mention anywhere else about cancellations or the days in which I can cancel but this was done in Nevada.

I don’t see any other specific cancellation sections in the other pages. Do I need to go back out to this Wyndham Hotel office?

 

[schoolmarm]

Do NOT go back to the Wyndham sales office or the resort office. They will probably STALL you beyond the rescission date. Resort staff might not know how to rescind. DO NOT GIVE THEM YOUR LETTER or PAPERS. You need to mail your letter to the Florida address in your contract.

Each state has a different number of days to rescind a contract. Send your letter TODAY. Some states are 3-5 days, and a couple are up to 2 weeks. I think that Nevada is on the shorter side. Do it NOW and get it over with.

 

[jwalk03]

If yours is the only owner on the contract you are the only one that needs to sign. Do not go back to sales- they will just try to sale you again and maybe outright lie to you to try and run the clock out on your recession timeframe- or give you false instructions for how to rescind!!

Just follow the instructions outlined in your contract. NV is among the shortest state windows to rescind. (5 days I think) so don’t delay in getting this done and saving yourself thousands and thousands of dollars!!

 

[TUGBrian]

grats on saving 45k! that should net you some wonderful family vacations over the next few years!