Help Rescinding! Tradeup and need to cancel

[floridamind]

So I got suckered in to another timeshare meeting and possibly made the biggest financial mistake of my life. I previously had done this and bought into sheraton flex at the vistana in Orlando. My partner and I were happy enough with that purchase as it seems like a decent investment. This time my partner and I upgraded our VOI by trading in and getting a larger VOI. We simply cannot afford it after looking at everything. I am in the process of reading over everything and I want to rescind the agreement. Is it possible to rescind the agreement so that we retain our original contract from before and our smaller allotment of VOI? Any help would be great, especially examples of rescind letter drafts. Also, does the letter need to be notarized? What info should be included, where to send? I am reading it but I cannot find the specifics.

 

[WManning]

So I got suckered in to another timeshare meeting and possibly made the biggest financial mistake of my life. I previously had done this and bought into sheraton flex at the vistana in Orlando. My partner and I were happy enough with that purchase as it seems like a decent investment. This time my partner and I upgraded our VOI by trading in and getting a larger VOI. We simply cannot afford it after looking at everything. I am in the process of reading over everything and I want to rescind the agreement. Is it possible to rescind the agreement so that we retain our original contract from before and our smaller allotment of VOI? Any help would be great, especially examples of rescind letter drafts. Also, does the letter need to be notarized? What info should be included, where to send? I am reading it but I cannot find the specifics.

@Grammarhero

 

[ChiefIlliniwek]

Did you buy more flex points? Don’t believe anything the salesmen say. None of this stuff is an investment.

 

[RX8]

When did you purchase? Your rescission instructions are in your contract. If you purchased while physically in Florida you have ten days to rescind. The process is pretty simple. Write a letter stating something along the lines of “Per the terms of our contract, we are cancelling the May 16, 2022 purchase of contract number 123456 (if there is one on your contract).” If both you and your partner signed the contract then both you and your partner sign the rescission letter (it does not need to be notarized). Mail it certified, return receipt requested to the address listed in your rescission instructions. The only date that matters is when you mail the rescission, not when they receive it, your original contract will be reinstated and your money paid will be refunded.

Important - don’t call them or take their phone calls as they will attempt to talk you out of rescinding.

 

[floridamind]

Got everything sent in! Hopefully it’ll get processed within a few days so that I can make original monthly payment before it becomes past due. And you were right about not talking to them. My partner did notify them and they tried desperately to make us keep the new contract. Politely told them no longer interested but it took quite a while to get them to take the no as an answer.

 

[dioxide45]

When you rescind, everything reverts to as it was before you signed the contract you rescinded. So your original contract will be restored.

 

[dioxide45]

Got everything sent in! Hopefully it’ll get processed within a few days so that I can make original monthly payment before it becomes past due. And you were right about not talking to them. My partner did notify them and they tried desperately to make us keep the new contract. Politely told them no longer interested but it took quite a while to get them to take the no as an answer.

You should absolutely NOT rescind in person at the sales office. They are not the ones that process rescissions. YOu need to read the contract and mail (via USPS) a rescission letter to the address in the contract.