mcmurphy510
newbie
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.
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.