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I sent a notice of rescisson.. what now?

mgsmws

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Hello. I sent a notice of rescission to the address, the contract stated, within the rescission period (via certified mail). I received the receipt in the mail along with an envolope from them that had a refrigator magnet with their phone number on it. Im guessing it is an invitation for me to call them so they can talk me to death. I saw many people posting, not to call or take any calls from them. What should I do now? Should I just wait? Will they let me know when the rescission process starts or finishes? Can I relax? I'm stressed like never before.
 

csxjohn

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If you followed the instructions and sent your letter to the proper place, you can relax.

Don't call them and don't take calls from them.

If you paid by credit card, dispute the charges if they ever show up on your bill.

Welcome to TUG.
 

momeason

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Hello. I sent a notice of rescission to the address, the contract stated, within the rescission period (via certified mail). I received the receipt in the mail along with an envolope from them that had a refrigator magnet with their phone number on it. Im guessing it is an invitation for me to call them so they can talk me to death. I saw many people posting, not to call or take any calls from them. What should I do now? Should I just wait? Will they let me know when the rescission process starts or finishes? Can I relax? I'm stressed like never before.
Join TUG and read a lot for at least a few months. Ask questions after determining what you want out of a timeshare and then maybe buy retail.
Research first. It is a lifetime contract in most cases unless you buy a rare Right to use contract which will expire at a specific date.

First piece of advice if you do ultimately decide to buy.. Buy something desirable that may be easier to unload. There are no guarantees though. The TS company can and will change the rules and fees often.
Most of these properties can be rented, sometimes for less than maintenance fees..depends on where they are an of course their quality.
 

Rent_Share

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Keep in mind when you return something from a store it sometimes takes up to a week for the credit to show on your account.

As long as you followed the instructions in the package your will be fine

How many thousand of dollars did TUG save you ?

Welcome
 

luzestrella

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I just sent a revocation letter on April 24. The return receipt i got back said they had received it the 26th. I ignored all calls and did not contact them. My deposit was back in my account this past Monday May 6th and today the 9th I received a letter from them confirming my cancellation and a receipt of my refund. Just wait it out a bit. Since you got the return receipt you should be fine and they are probably just taking their time processing.
 

carl2591

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I just sent a revocation letter on April 24. The return receipt i got back said they had received it the 26th. I ignored all calls and did not contact them. My deposit was back in my account this past Monday May 6th and today the 9th I received a letter from them confirming my cancellation and a receipt of my refund. Just wait it out a bit. Since you got the return receipt you should be fine and they are probably just taking their time processing.
BE sure to keep the letter FOREVER.. because there may be some point in the future some little $hit head attorney may try to see how many old accounts he can get active and send you a letter stating you owe MF's on a unit you "owned" for the past 5-6 yrss.. If you have the letter you send a copy and he crawls back in his hole..

if you can not find the letter you will have to spend some money to make this go away.. :mad:

justsayin...

better safe than sorry.. :annoyed:
 

momeason

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I just sent a revocation letter on April 24. The return receipt i got back said they had received it the 26th. I ignored all calls and did not contact them. My deposit was back in my account this past Monday May 6th and today the 9th I received a letter from them confirming my cancellation and a receipt of my refund. Just wait it out a bit. Since you got the return receipt you should be fine and they are probably just taking their time processing.
Yeah! I am glad it is behind you. You dodged a big bullet. Welcome to TUG.
 

luzestrella

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BE sure to keep the letter FOREVER.. because there may be some point in the future some little $hit head attorney may try to see how many old accounts he can get active and send you a letter stating you owe MF's on a unit you "owned" for the past 5-6 yrss.. If you have the letter you send a copy and he crawls back in his hole..

if you can not find the letter you will have to spend some money to make this go away.. :mad:

justsayin...

better safe than sorry.. :annoyed:

thanks for the tip.. will make sure i do!
 

mgsmws

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I just sent a revocation letter on April 24. The return receipt i got back said they had received it the 26th. I ignored all calls and did not contact them. My deposit was back in my account this past Monday May 6th and today the 9th I received a letter from them confirming my cancellation and a receipt of my refund. Just wait it out a bit. Since you got the return receipt you should be fine and they are probably just taking their time processing.
Yesterday, I got a welcome letter from them dated 4 days after they received the notice. This morning, they refunded the deposit. My minds not at ease yet. I dont trust those guys.
 

Rent_Share

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If anything was on a debit/credit card, report those cards lost and get new account numbers.

If you signed any auto pay authorizations put the financial institution on notice with a copy of the recession letter and refund cancelling any future draft on your account by this merchant.
 

luzestrella

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Yesterday, I got a welcome letter from them dated 4 days after they received the notice. This morning, they refunded the deposit. My minds not at ease yet. I dont trust those guys.
I got my refund first n then days later I got a letter confirming the cancellation so hopefully it is on its way
 

theo

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Fwiw...

While it may be nice to receive a letter confirming a developer contract rescission, be advised that a developer is under absolutely no obligation to do so.

Their only legal obligation is to process the cancellation and refund any deposit, if the letter of rescission was sent to the right location, by the prescribed means and within the applicable state law deadline.
There may be a "follow up" letter of confimation of cancellation sent, but not necessarily and not usually...
 

GTStone

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Recission follow up

When I cancel something, I'm fine with talking to the people. I keep an excellent log of ALL communications starting with the original purpose. I do not want them to have any excuse for delaying or diverting a cancellation request.

I use an approach like this: "When we talked, your offering sounded very nice, but I really needed time to more carefully evaluate it. Now that I (we) have looked at the whole situation, we simply cannot proceed. I'm sure you understand the need to be very cautious during these difficult economic times."

No sales pitch will get me to back down. I first obtain the full name of the person with whom I am speaking, I take notes during the conversation, and then I write it up. I also note the date, time (beginning and end ) of the call, and the number I called. If transferred, I note that information also. This way if it were ever challenged at a later time, I can show proof of these conversations, and a clear willingness to handle the process appropriately.

In the end, the easiest resolution should they not comply is to file a complaint with their state Attorney General. That office will ask if you have records of all communications. The end result could be a fraud indictment against the company !
:wave:
 

Rent_Share

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When I cancel something, I'm fine with talking to the people. I keep an excellent log of ALL communications starting with the original purpose. I do not want them to have any excuse for delaying or diverting a cancellation request.

I use an approach like this: "When we talked, your offering sounded very nice, but I really needed time to more carefully evaluate it. Now that I (we) have looked at the whole situation, we simply cannot proceed. I'm sure you understand the need to be very cautious during these difficult economic times."

No sales pitch will get me to back down. I first obtain the full name of the person with whom I am speaking, I take notes during the conversation, and then I write it up. I also note the date, time (beginning and end ) of the call, and the number I called. If transferred, I note that information also. This way if it were ever challenged at a later time, I can show proof of these conversations, and a clear willingness to handle the process appropriately.

In the end, the easiest resolution should they not comply is to file a complaint with their state Attorney General. That office will ask if you have records of all communications. The end result could be a fraud indictment against the company !
:wave:
Great advice for documenting negotiations, however in the states that have recession laws, the legal requirement is a written notice to the buyer of their rights, and an address where the written notice is to be sent. That eliminates aby disputes as to the intents and agreements of the parties.
 

mgsmws

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I got a comfirmation letter but check this out. the day after we made the purchase, my wife and i went back to speak to the closing manager saying we wanted to cancel. this was before i knew about sending a rescission letter. she talked us into getting a cheaper one so we signed another contract with a different account #. she said the old account was no good. yeah we were stupid. now that i sent the rescission letter, they reinstated the original purchase. i called them to ask why and the customer service rep said i can ignore it because both accounts were closed. now i got a letter from bill me later for the deposit. its says if i dont want the account then to return the merchandise to the merchant. whatever that means. what should i do about this?
 
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It depends. If you're within the Recission Period, you can rescind that one. If it's outside the timeframe, you're the owner of a timeshare. You can TRY to get an attorney involved, but it may not work out in your favor.

TS
 

brownhaired_girl

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I'm sure that I am not as knowledgeable about how to rescind as many here, but this was my experience in a nutshell. I had put a developer purchase on a credit card. I sent a rescission letter by certified mail within the next 48 hours. I did contacted the sellers. I was told that the money would be put back on the credit card. After many contacts over the next couple months with promises that the money was coming I finally contacted the credit card company. At that time I was informed that I only had a short while left to dispute the charges. (It was quite a few years ago and I don't remember for sure but it might have been about a 90 day window from date of charges.) I sent the credit card a copy of the letter, copy of the receipt for it being certified with the date and phone charges showing that I had contacted them many times with the length of the calls. I did get my money back but the whole process was very stressful to say the least. Wish I had done my homework before buying.
 

Rent_Share

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It depends. If you're within the Recission Period, you can rescind that one. If it's outside the timeframe, you're the owner of a timeshare. You can TRY to get an attorney involved, but it may not work out in your favor.

TS
I strongly disagree with you

The second contract clearly supersedes the first one and it was rescinded within the statutory period. Any attempts to collect the voided contract will result in the developer paying the buyers attorney's fees

If it's Westgate they will try anything
 

csxjohn

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... I had put a developer purchase on a credit card. I sent a rescission letter by certified mail within the next 48 hours. I did contacted the sellers. I was told that the money would be put back on the credit card. After many contacts over the next couple months with promises that the money was coming I finally contacted the credit card company. At that time I was informed that I only had a short while left to dispute the charges. (It was quite a few years ago and I don't remember for sure but it might have been about a 90 day window from date of charges.)



the whole process was very stressful to say the least. Wish I had done my homework before buying.
This is a good lesson for everyone to remember

1) Even though you follow all the instructions, contact your credit card company and dispute the charges.

If you had not finally done that you would have had to have gone to court and prove you rescinded legally.

2) Don't contact the sellers after you rescind. They will just lead you on and try to get you past the deadline for rescinding and for disputing the CC.

3) No need to stress if you follow the instructions and contact the CC company.
 
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