How to Know A Rescission Goes Through

[laurenb]

Hi All,

I sent my rescission letter to stop the process of buying my timeshare at the 11th hour. By Missouri law and clearly stated on my contract, I have 5 days to send a letter of rescission by mail. On the end of the 5th day, I got my letter certified and sent it off. Previous threads have shown that that's all I have to do, but I'm worried because the company just sent me info for the closing company, as they haven't gotten the letter yet (via tracking it's supposed to arrive tomorrow). I just want confirmation that all is done and want to be 100% sure I am off the hook and they won't come back and try to mess with me later. Should I call them first thing Monday or what? Thanks all!

 

[TUGBrian]

as long as you have proof it was mailed within the time alotted, you are fine.

dont lose it =)

 

[laurenb]

To the Hour?

as long as you have proof it was mailed within the time alotted, you are fine.

dont lose it =)

Here's the Missouri law exactly as written: "A five-day right of recision. If a consumer signs a contract to buy a timeshare and then changes his mind, he has five days to cancel. The cancellation must be in writing, and cancellation is effective when the letter is postmarked. According to state law, the seller must give the buyer an 18-point, boldface printed notice of the right to cancel at the time of purchase."

Does this mean it's okay to send any time on the 5th day? I am PST and they I think are central time. Does that matter? As you can tell, I'm pretty nervous about this.

 

[scootr5]

Should I call them first thing Monday or what? Thanks all!

Do not call them, and do not answer when the salesman calls to try and talk you in to not rescinding.

 

[DeniseM]

Does this mean it's okay to send any time on the 5th day?

Yes - as long as it's postmarked on the 5th day.

You should not call, or take their calls - PERIOD:

1) A telephone call has no legal standing - what they tell you over the phone doesn't make any difference, and you are very likely to be (intentionally) told the wrong info. over the phone. This actually happened to a recent poster, and even though they were advised not to call, they kept calling and calling and were flat out lied to, which made them more anxious….so they called some more.

2) You can only rescind in writing - and you already did that.

3) If you call, chances are they will connect you to sales, and sales will pull out all stops to talk you out of rescinding to save their commission. They will say whatever it takes to get you to change your mind - another hard sale. But sales has NO authority in the rescission process.

4) You will know your rescission has been processed when you receive your refund.

 

[laurenb]

Feeling Better

Yes - as long as it's postmarked on the 5th day.

Yes- it was postmarked on the 5th day at 4:43pm :whoopie: my time, and I got it certified and have receipt and tracking. Phew.

Thanks everyone.

 

[Mjasp]

So how do you send the "gifts" back. In my case a tablet

 

[theo]

So how do you send the "gifts" back. In my case a tablet

Cheapest available way that provides both tracking and delivery confirmation.

 

[Mjasp]

Cheapest available way that provides both tracking and delivery confirmation.

Should I wait for them to ask for it back or send it to the rescind address with the rescind letter?

 

[Mjasp]

I can bring it to the sales office, just concerned even if I get a receipt it may not be enough.

 

[theo]

I can bring it to the sales office, just concerned even if I get a receipt it may not be enough.

DO NOT visit the sales office! You will only be "sweet talked" and / or psychologically pummeled to change your mind. Ship the tablet back. It's not yours to keep now if you are rescinding and if you keep it you can expect to be (legitimately) billed at some point for its' full retail value. Proof of delivery will be sufficient. You should perhaps also consider insuring the tablet with USPS for its' retail value, in case of damage sustained in shipping.

Get the rescission letter prepared and mailed (certified mail) ASAP! The clock is ticking and you will be just plain SOL (out of luck) if you miss whatever deadline is identified by applicable state law for your particular (unspecified) purchase. Rescission time periods vary by state, from as few as 3 days in several states, to as many as 10 days in FL and TN, with most states being either 5 or 7 days). You can simply reference in your rescission letter that the tablet will be promptly returned and that it will be arriving at the same address as the rescission letter, but under separate cover.

 

[Passepartout]

Should I wait for them to ask for it back or send it to the rescind address with the rescind letter?

I would send it back to the sales office. Send it insured, and keep the postal receipt in case they ask, or try to charge you for it.

Jim