• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 30 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 30th Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $21,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $21 Million dollars
  • Sign up to get the TUG Newsletter for free!

    60,000+ subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Help what do I do?

Xlee17

Guest
Joined
Jun 16, 2024
Messages
8
Reaction score
0
Resorts Owned
Bluegreen villa wisconsin dells
Went on a family trip to Wisconsin dells and got tickets for a good discount for the kids and turn out it was purchase for timeshare. At the time of purchasing it me and my husband thought I was buying our own getaway mini 2 bedroom resort home so we can come up here every year to save me & my 5 kids money. We purchase it on 6/6/204 and now it’s 6/15/2024 and my sister was telling us it’s a scam. I read some of the document I sign and did not realize their annual fee was so high, on top of the interest I’ll be pay with its monthly payment also. How do I cancelled this? And is it too late to cancel and get my $2500 deposit back? I thought it was a good investment only to turn out I’ll be more broke paying for it vs. using that monthly payment/ fees and annual fee cost to pay for my children’s expenses or other bills that is cheaper. Any idea to help out how to cancel?
 

TUGBrian

Administrator
Joined
Mar 24, 2006
Messages
22,517
Reaction score
8,203
Location
Florida
Welcome to TUG!

unfortunately the state law in wisconsin provide you only 5 days to cancel a new purchase, though your sales contract might specify a longer timeframe. I would urge you to find the cancellation section of your sales contract and follow the instructions to the letter to send off your request to cancel asap.

while they are under no obligation to let you out if you dont meet the deadline, there is no harm in trying and you might get lucky as it has happened in the past!
 
Joined
Sep 24, 2011
Messages
3,075
Reaction score
1,287
Location
Deltona Florida
You could simply stop paying, but it will be a hit on your credit. Or, you could use it. Keep reading here on TUG to get the most out of your timeshare. But DO NOT talk to anyone at any (scam) timeshare exit company, they'll take your $$$ and your credit is worse off.

TS
 

Xlee17

Guest
Joined
Jun 16, 2024
Messages
8
Reaction score
0
Resorts Owned
Bluegreen villa wisconsin dells
You could simply stop paying, but it will be a hit on your credit. Or, you could use it. Keep reading here on TUG to get the most out of your timeshare. But DO NOT talk to anyone at any (scam) timeshare exit company, they'll take your $$$ and your credit is worse off.

TS
My first payment is coming July 1, so I basically just loss $2500 and my $49 to them? And if I stop making payment does it reflect my credit score, I mean I’m only sitting at 620 anyways. But my husband does own our home and his name is on the contract too.
 

Xlee17

Guest
Joined
Jun 16, 2024
Messages
8
Reaction score
0
Resorts Owned
Bluegreen villa wisconsin dells
Welcome to TUG!

unfortunately the state law in wisconsin provide you only 5 days to cancel a new purchase, though your sales contract might specify a longer timeframe. I would urge you to find the cancellation section of your sales contract and follow the instructions to the letter to send off your request to cancel asap.

while they are under no obligation to let you out if you dont meet the deadline, there is no harm in trying and you might get lucky as it has happened in the past!
It does tell me in the contract that if I would like to cancel my program benefits I can send a written request at least 30 days before my renewal date so does that mean I have until July 6, 2024 to send a written letter since I sign my contract on June 6, 2024?
 

billymach4

TUG Member
Joined
Oct 20, 2006
Messages
4,044
Reaction score
1,596
Location
Everywhere
It does tell me in the contract that if I would like to cancel my program benefits I can send a written request at least 30 days before my renewal date so does that mean I have until July 6, 2024 to send a written letter since I sign my contract on June 6, 2024?
Can you post or take a photo of the exact language in the contract. Of course block out your personal info. Some of the experts here will be able to advise.
 

Passepartout

TUG Review Crew: Veteran
TUG Member
Joined
Feb 10, 2007
Messages
28,729
Reaction score
17,624
Location
Twin Falls, Eye-Duh-Hoe
My first payment is coming July 1, so I basically just loss $2500 and my $49 to them? And if I stop making payment does it reflect my credit score, I mean I’m only sitting at 620 anyways. But my husband does own our home and his name is on the contract too.
Defaulting on the payments you agreed to will affect your (and your husband's) credit for some 10 years. You may not have taken the time to read through what you signed at that presentation. Yes, we know. You were on a vacation and having fun with the kids and all that. But this is kind of serious.

Please consider seriously that at the time, you- and he- felt that you could afford these payments. You're not alone. We took a poll of TUGgers. Timeshare USERS here. The result was that almost exactly 50% did the same thing that you did. They bought their first timeshare at a presentation, with absolutely NO intention of doing so. Then they didn't rescind during the allowed 'cooling off' time, just like you.

Yes, you CAN do nothing and wait for the consequences. Many here will counsel you to do that. But know that THEIR credit won't be affected no matter what YOU do.

I'm going to counsel you to follow the suggestion that you DO write a letter to BG, pleading hardship. Outline that paying them will bite into your kids' college funds and delay your eventual retirement, and leave you ill prepared for an unexpected emergency, and that is not a risk you are willing to take, for the sake of future vacations. Then when they tell you 'Tough Luck, you signed the contract willingly, so pay up'. Sit down and write the check. Maybe start a side gig, or get a second job to pay off the loan you took out.

Good Luck with this decision.,

Jim
 

tschwa2

TUG Review Crew: Veteran
TUG Member
Joined
Dec 19, 2008
Messages
16,076
Reaction score
4,721
Location
Maryland
Resorts Owned
A few in S and VA, a single resort in NC, MD, PA, and UT, plus Jamaica and the Bahamas
I am pretty sure the program benefits that they mention that you can cancel 30 days before your renewal date, which would be May 6, 2025 (30 days before renewal, not 30 days after purchase) is some ancillary program benefits not the purchase itself.

You rescision date is likely 5 days and listed on your contract near where you signed or initialed.
 
Top