Help getting out of a timeshare in Puerto Vallarta

[lilj1143]

I was wondering if anybody knew how to back out of a timeshare?? My wife and I got pressured into buying a timeshare in puerto Vallarta and at the moment it seemed like a deal if a lifetime,but yea as we got back home to reality,we realized this wasn't for us! We purchased this timeshare on 8/16/15.Help anyone


Sent from my iPhone using Tapatalk

 

[Karen G]

In Mexico you have the right to rescind your timeshare purchase in five business days from the date you signed the contract. You appear to be beyond that five-day period if you signed on Aug. 16.

However, if you believe you were lied to or there was any fraud in getting you to agree to buy, you might get some relief from the Mexican consumer protection agency Profeco. You can contact them at their website here.

You have nothing to lose by trying to rescind if you choose to do so. Just prepare a letter stating that you wish to cancel your agreement with whatever timeshare company you bought. Be sure to have everyone who signed the contract sign the rescission letter. Send it by certified mail to have proof of when you mailed it. There should be instructions on how to rescind somewhere in all the paperwork you received, but some companies are notorious for hiding that information. There's no guarantee that they would honor a rescission at this point, but you can at least try.

Where did you buy?

 

[SciTchr]

If anything was told to you that was untrue during the sales pitch, you can file with your credit card company. We got sucked in by Bellaire in Puerto Vallarta. I believed them and it was quite the great deal The next day we filed with Profeco at the PV office and hand delivered a letter (which they would not touch or accept) at Bellaire, so we did certified mail. We even hired a PV lawyer who tried to help us. It ruined the rest of our vacation. In the end it was our CC company that got our deposit back for us due to our proof of fraud, which were notes of the interaction and receipts. Since you are too late to rescind, call your CC company and discuss with them. I read that "Anthony Coppello" of Bellaire and all the other names it has since taken on is now in jail. Hope that is true! He was a real smooth talker. He tried to make us feel that he was mafioso. We will never do another TS presentation again!

 

[bjones9942]

If an attempt to rescind (a tad late) doesn't work, my next move would be to contact the resort and ask if they'll let you out of the contract. Never hurts to ask, and you may get someone different than the person who rejected your rescission letter.

Failing that, I'd try to move past the buyers remorse and take a realistic look at the situation. Can you make the purchase work for you? Are you open to learning how to trade to other resorts/locations? Could you 'rent' the unit to friends and family in the years you don't feel like traveling (even just to get back your maintenance fees)?

And while you're doing that, take a look at the posts here. There's a wealth of knowledge about using (and selling) your timeshare! Welcome aboard!

 

[Karen G]

See post #73 in this thread about someone who was able to rescind after the five-day rescission period in Mexico. Their credit card company was able to help them.