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DRI Rescission Questions

mcmurphy510

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Hi All,

We recently purchased a number of timeshare points from DRI (US Collection). We got 2500 of them for 10,000 and thought it was a good deal... but then we started reading this board. Wish we had done this first.

Anyway... we purchased 2500 points at $4.00 even per point on August 12th in Sedona, Az. We read up on here and decided to rescind. According to the contract and AZ law we had to mail or fax the rescission letter within 7 days (which would be Aug 19th).

On the 18th we both faxed and mailed (express with tracking and signature confirmation) the rescission to DRI. We have both the proof of fax and the delivery confirmation.

It's now the 30th of August and we have yet to hear from them (either by mail or phone) or have or deposit of 1292.00 refunded to our cc.

Just wondering a few things:
Does it sound like we followed the correct procedure? Should we be covered?
What should we expect from DRI? Are they likely to simply grant rescission or try to save?
How long does it normally take to get a response? How about refunded?
What's our recourse if they deny it or we don't hear back?

Thanks for all your help.
 

artringwald

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Hi All,

We recently purchased a number of timeshare points from DRI (US Collection). We got 2500 of them for 10,000 and thought it was a good deal... but then we started reading this board. Wish we had done this first.

Anyway... we purchased 2500 points at $4.00 even per point on August 12th in Sedona, Az. We read up on here and decided to rescind. According to the contract and AZ law we had to mail or fax the rescission letter within 7 days (which would be Aug 19th).

On the 18th we both faxed and mailed (express with tracking and signature confirmation) the rescission to DRI. We have both the proof of fax and the delivery confirmation.

It's now the 30th of August and we have yet to hear from them (either by mail or phone) or have or deposit of 1292.00 refunded to our cc.

Just wondering a few things:
Does it sound like we followed the correct procedure? Should we be covered?
What should we expect from DRI? Are they likely to simply grant rescission or try to save?
How long does it normally take to get a response? How about refunded?
What's our recourse if they deny it or we don't hear back?

Thanks for all your help.
If you followed the rescission instructions in the contract, which it sounds like you did, you are off the hook. Do not call them or answer calls if they call you. They'll just try to get you to buy again, maybe at reduced prices, but even 90% off would be a bad deal. You may not get any written verification of them accepting recession. If your deposit hasn't been refunded in 30 days, you should contact the credit card company to have the charges reversed.
 

johnrsrq

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If you followed the rescission instructions in the contract, which it sounds like you did, you are off the hook. Do not call them or answer calls if they call you. They'll just try to get you to buy again, maybe at reduced prices, but even 90% off would be a bad deal. You may not get any written verification of them accepting recession. If your deposit hasn't been refunded in 30 days, you should contact the credit card company to have the charges reversed.
$4 a point @ .10 (or,90%off) or 40 cent a point. I'd take that. But the OP did follow the correct path to rescind.

Not all purchases are bad. It appears your bias against all things DRI clouds your suggestions.
 

Passepartout

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If you rescinded by the means required, and within the time frame allowed, DRI has no choice but to process the rescission. However, they are under no obligation to inform you of the progress of it. The refund could take up to 45 days to be posted to your account.

So if nothing appears by about the last week of September, you have a right to be upset, but until then, sit on your hands.

Jim
 

mcmurphy510

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Thanks all. I was worried that I might have missed something.

I was about to try and call them, but I'll hold off.

Thanks.
 

artringwald

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$4 a point @ .10 (or,90%off) or 40 cent a point. I'd take that. But the OP did follow the correct path to rescind.

Not all purchases are bad. It appears your bias against all things DRI clouds your suggestions.
It's not hard to find people giving away their points, so yes, 40 cents a point is a bad deal. Besides, 2500 points is barely enough to get a studio unit at most DRI resorts. You really need 5K-10K points to book a week for a decent size unit at a desirable location.

I don't like DRI's sales tactics, but you're jumping conclusions to call me biased against DRI. We have owned DRI since 2004 (which we bought from the developer), and have bought more DRI property since then through resales. We do like their resorts, and have no intentions of selling. Although they continue to raise maintenance fees, it's often because they acquired properties that were in need of repair. We're willing to pay higher fees if it helps keep the resorts in good condition.
 
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TUGBrian

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Welcome to TUG, you just saved 10,000 bucks!
 

mcmurphy510

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Thanks everyone for your responses.

The refund on my cc just appeared on my online statement... so it looks like the rescission went through.

I am still interested in buying points in DRI or elsewhere, but I can see I have a lot to read up on.
 

Passepartout

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I am still interested in buying points in DRI or elsewhere, but I can see I have a lot to read up on.
Consider other systems. Ones that don't strip benefits from subsequent buyers. A resale somewhere that's been converted to RCI Points comes to mind. Do some reading, Become an informed buyer- or even better, check the rentals in the TUG Marketplace. You can often rent very nice digs at or below the cost of maintenance fees. Not to mention- zero buy in cost.

Welcome to TUG!

Your interest in 'points' indicates a desire to exchange. Nobody buys points to stay in one 'home' resort. So in order to see thousands of resorts and check reviews on them, join TUG. We saved you $10K, so you can afford $15/yr for access to those reviews.

Jim
 

artringwald

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Consider other systems. Ones that don't strip benefits from subsequent buyers. A resale somewhere that's been converted to RCI Points comes to mind. Do some reading, Become an informed buyer- or even better, check the rentals in the TUG Marketplace. You can often rent very nice digs at or below the cost of maintenance fees. Not to mention- zero buy in cost.

Welcome to TUG!

Your interest in 'points' indicates a desire to exchange. Nobody buys points to stay in one 'home' resort. So in order to see thousands of resorts and check reviews on them, join TUG. We saved you $10K, so you can afford $15/yr for access to those reviews.

Jim
Here's a thread with some questions you should answer for yourself before you can decide where, when, and what to buy:

http://www.tugbbs.com/forums/showthread.php?t=208742

I'm glad you found TUG in time to rescind!
 

winger

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Good job! The DRI sales reps suckered you into wasting money on 2500 measly points which, as Art correctly mentioned, you really cannot do much with, and you threw it right back at them. Serves then right-I wished more people get informed and not fall for any false promises the weasle sales reps make.

Don't get me wrong, we like our DRI ownership and we have met some very nice and helpful employees over the years; but, their sales reps are generally pretty horrible. We even met a mom and son team a few years ago at a presentation-they were one of the least professional sales reps we met...not 'very nice' as DW nicely put it.
 

johnrsrq

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It's not hard to find people giving away their points, so yes, 40 cents a point is a bad deal. Besides, 2500 points is barely enough to get a studio unit at most DRI resorts. You really need 5K-10K points to book a week for a decent size unit at a desirable location.

I don't like DRI's sales tactics, but you're jumping conclusions to call me biased against DRI. We have owned DRI since 2004 (which we bought from the developer), and have bought more DRI property since then through resales. We do like their resorts, and have no intentions of selling. Although they continue to raise maintenance fees, it's often because they acquired properties that were in need of repair. We're willing to pay higher fees if it helps keep the resorts in good condition.
I understand you like your weeks at P@P. It works for your plans.

The resale points at $0 are not the same as what the OP purchased and subsequently rescinded. The developer points allow others to stretch, add and enhance their respective fixed weeks or whatever else they bring to the mix. If one needs a few thousand points to do this, like I did, then it works. It works quite well. In the past, the week you may have owned when DRI took over mgmt were treated markedly different than a resale week one may purchase at the same resort. The offering was to give preference to those weeks of the place which was taken over. But those who thought they were so smart by buying same week at resorts could not bring them in and achieve more loyalty status which works better in its global platform. It's just a club however if you bring a part to the party which you have already committed to, then, the outlay may make sense. In regards to your week in Kauai, if flying there annually or using the exchanges works for you great. Others might leverage the club over time to their advantage.

If the OP had no prior asset/Timeshare to his recent visit, then his rescission would truly be recommendable in my opinion and I'm glad he found "TUG" and "saved" the 10,000. However, maybe he had other timeshares to bring which were not mentioned.

Anyway. Glad it worked out for all.
 
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artringwald

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I understand you like your weeks at P@P. It works for your plans.

The resale points at $0 are not the same as what the OP purchased and subsequently rescinded. The developer points allow others to stretch, add and enhance their respective fixed weeks or whatever else they bring to the mix. If one needs a few thousand points to do this, like I did, then it works. It works quite well. In the past, the week you may have owned when DRI took over mgmt were treated markedly different than a resale week one may purchase at the same resort. The offering was to give preference to those weeks of the place which was taken over. But those who thought they were so smart by buying same week at resorts could not bring them in and achieve more loyalty status which works better in its global platform. It's just a club however if you bring a part to the party which you have already committed to, then, the outlay may make sense. In regards to your week in Kauai, if flying there annually or using the exchanges works for you great. Others might leverage the club over time to their advantage.

If the OP had no prior asset/Timeshare to his recent visit, then his rescission would truly be recommendable in my opinion and I'm glad he found "TUG" and "saved" the 10,000. However, maybe he had other timeshares to bring which were not mentioned.

Anyway. Glad it worked out for all.
One of my weeks is in The Club, so I do know the difference between clean points and dirty points. I enjoy the flexibility of points and enjoy the additional benefits of our Silver level membership. I agree that some could benefit by buying more developer points to get past a membership threshold. From what I've read, that purchase can usually be negotiated to a price much lower than DRI's new customer price.

Unfortunately, many DRI points owners ignore the fact or have forgotten that Club membership is not transferable to resale purchasers. I see ads all the time where the seller says their points are usable at DRI locations all over the world. Ads often fail to mention which collection the point are in. I wonder how many have purchased resale points, only to discover that they're only good within the collection.

As long as we want to go to Kauai every year, I will not attempt to pay to bring the non-Club resale weeks into the Club. If I book 360 days in advance, I've never had a problem getting an oceanfront unit with my non-Club weeks. However, each year it's getting harder to book oceanfront with with the Club points. Part of the problem with a DRI collection is you can have higher demand for the most desirable resorts in the collection than if they had been sold as deeded weeks. It's a backdoor way of getting around the timeshare law that prevents developers from overselling the available units.
 

johnrsrq

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One of my weeks is in The Club, so I do know the difference between clean points and dirty points. I enjoy the flexibility of points and enjoy the additional benefits of our Silver level membership. I agree that some could benefit by buying more developer points to get past a membership threshold. From what I've read, that purchase can usually be negotiated to a price much lower than DRI's new customer price. us

Unfortunately, many DRI points owners ignore the fact or have forgotten that Club membership is not transferable to resale purchasers. I see ads all the time where the seller says their points are usable at DRI locations all over the world. Ads often fail to mention which collection the point are in. I wonder how many have purchased resale points, only to discover that they're only good within the collection.

As long as we want to go to Kauai every year, I will not attempt to pay to bring the non-Club resale weeks into the Club. If I book 360 days in advance, I've never had a problem getting an oceanfront unit with my non-Club weeks. However, each year it's getting harder to book oceanfront with with the Club points. Part of the problem with a DRI collection is you can have higher demand for the most desirable resorts in the collection than if they had been sold as deeded weeks. It's a backdoor way of getting around the timeshare law that prevents developers from overselling the available units.
So then with the developer trying to sell at north of $7-9 ~~ no idea, and offer folks 2.8-$4.( being offer entry developer as they have something to bring in) referenced in these forums, your comment is misleading people who may be in different circumstances. All of a sudden, all points are $0. I know for me, if I could pick up 4k points from then at $.40 , I do it in a heartbeat. I'd take part of my dirty points, match 'em and get to gold. Gee, at that price might even go platinum :).
 

Karen G

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Do you need to have a recession notarized, or only if it says to do so?
No. I don't recall hearing of any requirement that it be notarized; but if your contract says that it should be, by all means do so.
 
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DanZale2000

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Do exactly what it says in the contract to rescind. Send it certified mail to the address in the contract. Give them no reason to reject your letter.
 
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post-it

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Thank you. We have until Tuesday, but I'm going to Fax the signed cancellation paperwork today so they have it first thing tomorrow and send it certified mail express tomorrow as well.

We only needed a few more points to have enough for what we need, but after reading this it sounds like we got a bad deal. It sounded great until we heard others at the resort heard the same song and dance. Some just purchased the sampler for around 2000.00. I cant remember how many points they received for this, but remember it was 18 mos to use the points. This might have been better for us since we could have rolled our next years points. I'll look into renting from TUG members if we need to.
 

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It's not hard to find people giving away their points, so yes, 40 cents a point is a bad deal. Besides, 2500 points is barely enough to get a studio unit at most DRI resorts. You really need 5K-10K points to book a week for a decent size unit at a desirable location.

I don't like DRI's sales tactics, but you're jumping conclusions to call me biased against DRI. We have owned DRI since 2004 (which we bought from the developer), and have bought more DRI property since then through resales. We do like their resorts, and have no intentions of selling. Although they continue to raise maintenance fees, it's often because they acquired properties that were in need of repair. We're willing to pay higher fees if it helps keep the resorts in good condition.
Actually, 40 cents per point to be in the Club would be excellent. Dirty points (resale) don't have access to any of the Club features, only to the resorts in that collection. Also, one can actually do quite a bit with 2,500 points if they are savvy. I've sent several friends to Williamsburg in March to a 2bdrm for only 750 points for a week (3,000 points normally). One year got the week for only 375 points (75% sale and then less than 60 days out for another 50% off).
 

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Thank you. We have until Tuesday, but I'm going to Fax the signed cancellation paperwork today so they have it first thing tomorrow and send it certified mail express tomorrow as well.

We only needed a few more points to have enough for what we need, but after reading this it sounds like we got a bad deal. It sounded great until we heard others at the resort heard the same song and dance. Some just purchased the sampler for around 2000.00. I cant remember how many points they received for this, but remember it was 18 mos to use the points. This might have been better for us since we could have rolled our next years points. I'll look into renting from TUG members if we need to.
Usually samplers are 15k points for about $2,399. You are correct, they have to be used in 18 months and can only be used for resort stays.
 

post-it

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Usually samplers are 15k points for about $2,399. You are correct, they have to be used in 18 months and can only be used for resort stays.
Thanks for this feedback. This could really be helpful for us to get a great 2 bedroom or 2 weeks at a nice resort and still roll our points for another large balance for the future. I wish we had this offer instead of the contract we're getting out of.
 

post-it

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I just received confirmation our cancellation is complete and our account reflects this. In response to a few earlier comments: It appears the FAX is all that is needed. We faxed our cancellation on Sunday the 4th and then sent an additional copy FedEx overnight on Monday to be delivered on our deadline Tuesday the 6th. In checking our FedEx tracking Tuesday morning I found our package went to Tennessee instead of Las Vegas and now would not make it by the deadline. I had no choice but to call DRI, and found out our FAX copy was already in the system and account marked cancellation pending on the 4th for the date sent with a cancellation closing date for the 8th. The expressed mail hard copy wasn’t needed making late delivered not be an issue. I was very pleased with the service I received from the Financial Services Department and had no pressure what so ever to continue with the contract. The department told me the FAX is the fastest way to get the process moving since the FAX automatically uploads to the account.
We should have a credit on our card within 2 weeks.
 

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Thanks for this feedback. This could really be helpful for us to get a great 2 bedroom or 2 weeks at a nice resort and still roll our points for another large balance for the future. I wish we had this offer instead of the contract we're getting out of.
Just to let you know, the Sampler offer is always the last offer at a meeting. If you ever want a Sampler, just wait out the regular portion of the meeting and someone else will be sent over to offer the Sampler. I guess you could try and get it at the start but I've never wanted one so I haven't tried that tactic.


I just received confirmation our cancellation is complete and our account reflects this. In response to a few earlier comments: It appears the FAX is all that is needed. We faxed our cancellation on Sunday the 4th and then sent an additional copy FedEx overnight on Monday to be delivered on our deadline Tuesday the 6th. In checking our FedEx tracking Tuesday morning I found our package went to Tennessee instead of Las Vegas and now would not make it by the deadline. I had no choice but to call DRI, and found out our FAX copy was already in the system and account marked cancellation pending on the 4th for the date sent with a cancellation closing date for the 8th. The expressed mail hard copy wasn’t needed making late delivered not be an issue. I was very pleased with the service I received from the Financial Services Department and had no pressure what so ever to continue with the contract. The department told me the FAX is the fastest way to get the process moving since the FAX automatically uploads to the account.
We should have a credit on our card within 2 weeks.
Glad everything went the way you wanted without any hassle.
 

Michael1991

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Thanks for this feedback. This could really be helpful for us to get a great 2 bedroom or 2 weeks at a nice resort and still roll our points for another large balance for the future. I wish we had this offer instead of the contract we're getting out of.
Availability with the Sampler is restricted to DRI owned intervals. You will not have access to the full selection of the The Club nor its inventory, not even full selection to all the DRI managed resorts. Since you are required to attend a sales presentation, the available resorts must have a sales office. We had the Sampler in 2013. Our first reservations had to be selected from some ten locations. Most of them had no availability in the summer months. Subsequent reservations were open to wider selection of locations, but availability was still limited.
 

post-it

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Availability with the Sampler is restricted to DRI owned intervals. You will not have access to the full selection of the The Club nor its inventory, not even full selection to all the DRI managed resorts. Since you are required to attend a sales presentation, the available resorts must have a sales office. We had the Sampler in 2013. Our first reservations had to be selected from some ten locations. Most of them had no availability in the summer months. Subsequent reservations were open to wider selection of locations, but availability was still limited.
Glad you clarified this. I was wondering if I could book anywhere such as Hawaii. Not worth the $$ or the hold out for the points then
 
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