How to cancel a a worldmark timeshare purchase

[kathieh1]

We purchased 10K additional points yesterday, and today I'm having second thoughts. I have read through my email copy of the documents and I can't find ANY instructions on cancelling the purchase. There is no "form" etc. as part of the documents we received. I can look again, but I'm not seeing anything about it. I thought it would be clearly stated. The only thing I did see is we have 5 calendar days to cancel the purchase. Would the instructions be somewhere else other than in the docusign document which is hard to read.

 

[kathieh1]

I found the paragraph about cancelling now. So does the cancellation just need to be postmarked within 5 days or received by them? I would assume postmarked? (certified mail etc.). What specifically do I need to send them with the cancellation? I don't have printed copies of anything and am on vacation where it's a bit difficult to get things printed.

 

[rickandcindy23]

Postmarked. But don't delay. Make sure you send it certified, so you will get that piece of paper back showing that they did received your rescission.

WorldMark is a great product, but I guarantee you can get 50,000 or more credits for what you were going to pay for the 10,000. Resale is always better. Ebay has some amazing deals.

Good for you for rescinding. How much was it going to cost?

 

[dioxide45]

Better than the method of delivery is two forms of delivery. It can take the stress away when notoriously slow Certified Mail doesn't get there fast enough. Use one trackable method of delivery and then another regular stamped USPS First Class letter with a Certificate of Mailing. If email or fax is an option in the contract, use that. It is the fastest.

 

[easyrider]

I found the paragraph about cancelling now. So does the cancellation just need to be postmarked within 5 days or received by them? I would assume postmarked? (certified mail etc.). What specifically do I need to send them with the cancellation? I don't have printed copies of anything and am on vacation where it's a bit difficult to get things printed.

Oregon's Right of Rescission for a Timeshare Contract is the buyer must submit this notice by certified mail with a return receipt requested.

Bill

 

[TUGBrian]

congrats on finding TUG in time to rescind! you saved an absolute fortune!

if you still like worldmark, you are going to be even more shocked at how much cheaper those points are on the resale market!

 

[sue1947]

All you need is a simple letter stating you are rescinding the contract. Include signatures from everybody who signed the contract. Just a piece of paper with a few sentences and signatures and then take it to the nearest postoffice and send it certified so you have proof it was sent. WM/Wyndham won't give you any problems so the certified probably isn't necessary, but just an extra layer of piece of mind.

 

[kathieh1]

We are actually very early owners of Worldmark since 1995 I think and long term TUG members. We bought the original points at Eagle Crest when that was their only resort. We currently own 35K points.. and have Travelshare Diamond Elite (but NOT VIP). Because of our age (around 70) we're actually at a point where owning less makes more sense and we also own a few Hawaii timeshares (which we need to offload soon). Cancelling makes sense, and not buying would have made even MORE sense.. I need to write myself a letter to carry to remind myself of all the reasons to NOT fall for the sales pitches. The cost for the 10K was going to be 29,750 (after a "*discount* for owning another Wyndham related Shell property). We knew that was ridiculous.. there is always a reason they offer a supposedly tempting discount and we knew that wasn't real - and just seriously - that's way too much money since we could pay for a LOT of housekeeping fees for that plus the extra $81 a month in maintenance fees. By the way, the pitch to get us to go to the presentation (we usually turn these down) was that there were changes that would mean we would get some new features or perks on our existing membership without having to pay anything if we just went to the sales meeting and "accepted" them. That was, of course, a lie. I wasn't able to discern any new features that would not involve us buying more points. The tempting features (besides more housekeeping and guest passes) was the Travel program Travel up(discount airfare, etc.) and something where we could let them rent our Maui Timeshare for us and turn it into WM points.. but I got to thinking that I really dislike those kinds of "clubs" where you have to book everything through a third party. I've had issues with that in the past when I needed to change or cancel reservations.. Soo... I came to my senses. I just wanted to confirm the cancellation details with you all here and I really appreciate all the advice.

 

[Huskerpaul]

Don't forget that with WM you can rent credits in or out, up to two times the number of credits you own, each year. Credits are currently renting for $0.07 - $0.08 per credit over on wmowners.com. $30k will rent you a lot of credits and HK tokens. No need to add to what you already own if renting credits in will accomplish the same goal of more vacations at WM properties.

 

[sue1947]

What are you getting for the travelshare dues you are paying? While you are rescinding, you might want to take a closer look at whether you want to eliminate Travelshare and just become a 'regular' WM owner. Usually, you can join RCI and get a year's worth of internet for less than those extra dues. There's not much else there.

And keep in mind that the 'concierge' or whatever they call themselves, earnings are based on how many people they deliver to the sales weasels. Who wants to spend their vacation at a high pressure sales pitch? So they lie. Just walk on by and ignore the whole mess. Unplug your phone and enjoy your vacation.

 

[kathieh1]

How long does it typically take for WM to refund the payment to the credit card when we cancel? I charged the full 30K to two credit cards and cancelled a on the 27th and still no refund. I have proof of delivery of my letter, but no other acknowledgement that they have cancelled the sale and I'd certainly like to get my usable credit back - not to mention I prefer not to pay the huge credit card bills.

 

[dioxide45]

How long does it typically take for WM to refund the payment to the credit card when we cancel? I charged the full 30K to two credit cards and cancelled a on the 27th and still no refund. I have proof of delivery of my letter, but no other acknowledgement that they have cancelled the sale and I'd certainly like to get my usable credit back - not to mention I prefer not to pay the huge credit card bills.

It could take them up to 45 days, but I don't know what the standard is. If they take too long and it starts to get to the point of a payment being due, you may then want to dispute the charge. This will buy you some time for everything to be settled.

 

[geist1223]

If you have received the Credit Card Bills dispute them.

 

[kathieh1]

I think I'm going to have to dispute the credit card bills. I sent in the cancellation letter on September 26 and have not received any acknowledgement that the process has started. My credit cards are still showing the full amount due. I was only given a mailing address and not a phone number or fax number. Does anyone know a way to contact the Wyndham Resort (Worldmark) Reccissions office? I think they went ahead and gave me the credits, etc. and raised my dues too.. so all indications are that they are ignoring my cancellation. Any ideas for contacting them would be appreciated.

 

[kathieh1]

I called Worldmark - the account department - and at first she told me I would just have to wait 8 weeks to see if it got processed.. but then she did finally say she talked to someone at that office and they looked it up and my request was received by them and it was in process.. She still said I'd have to wait 6-8 weeks for it to go through and me to get my refund. I told her I'd have to have my credit card company dispute the charge, but she told me if I did that it could impact my Worldmark account since I would not have paid what I owed etc. I feel a bit uncertain of what to do. On the one hand I really don't want to pay 30K or even the high interest on that amount with my credit card company if I only make a partial payment, but on the other hand I don't want to get my Worldmark account frozen. Irritating.

 

[TUGBrian]

it is normal for them to take up to 45 days to process the rescission.

 

[kathieh1]

Thanks, Brian. I wish they would have sent me an email or letter saying it was in process, but I'll try to be patient and just go ahead and pay at least the minimum payment on the credit cards.

 

[WorldT]

Look up your credit card dispute process. Most of them give you 60 days to dispute. If your credit doesn't come back before that time (60 days from the day of purchase) , then go ahead and dispute it. You will need the confirmation that you mail the recision on time according to the contract.

 

[Passepartout]

@kathieh1 you got lucky. Legally, they are under no obligation to inform you of the receipt, processing, or completion of a rescission. They ARE legally obligated to process a timely submitted rescission. I suppose that you could make a case for them to refund any interest fees that are accrued with your credit cards, but that may be more trouble and expense than you want to pursue. The term 'rescission' means to set affairs back to what they existed before the purchase was made, so that couls be construed to mean they's have to reimburse you. But it's up to you to chase it down.

Stop worrying, and go celebrate.

Jim

 

[Luanne]

Thanks, Brian. I wish they would have sent me an email or letter saying it was in process, but I'll try to be patient and just go ahead and pay at least the minimum payment on the credit cards.

You should be able to put the entire amount in dispute on your credit card so that you don't have to pay anything. I know with Chase one of the reasons is that you cancelled and haven't gotten the refund yet.

 

[dioxide45]

Look up your credit card dispute process. Most of them give you 60 days to dispute. If your credit doesn't come back before that time (60 days from the day of purchase) , then go ahead and dispute it. You will need the confirmation that you mail the recision on time according to the contract.

The legally required dispute timeline is 60 days after the charge first appears on a statement. Many credit card companies go far beyond this.