If you rescind a timeshare contract, get a cancelation letter

[DonnaD]

Just to be on safe side, if you decide to rescind a contract for a timeshare, be sure to get a formal letter from company stating that contract was rescinded and no money is owed by you to the company. Two and a half years after we rescinded a contract the day after signing to buy it, I received a letter from a collection agency demanding payment. I had a letter in hand that I had requested thru Profeco. I faxed it to collection agency and requested a letter from them acknowledging the error. I added it to my file. Keep your file handy. You never know when you might need to pull it out.
DonnaD.

 

[DeniseM]

What resort was this?

 

[T-Dot-Traveller]

I believe it was Vallarta Gardens in Nuevo V - Mexico

Donna started a TUG thread in 2014 about Vallarta Gardens - to warn readers
and it had quite a few added posts - from others who bought on promises that were complete lies

*****
Donna ,
Glad you have your documents . Sorry this has been such a difficult year .

Your Puerto Vallarta friends and TUG friends hope to see you at the Club Regina -PV Marina in 2017

.

 

[T_R_Oglodyte]

You can try for a cancellation letter, but I would never plan on receiving one.

The most important thing to do is to look for the cancellation requirements in the contract, and then be sure that you fulfill everyone of those requirements, and more. If the contract says cancellation needs to be postmarked by a certain day, then make sure you send it certified so you have proof of mailing. If the contract says, must be received by a certain date, then get proof of service. If the contract doesn't say fax is acceptable, then don't rely on fax.

If the contract says must be mailed by a certain date, then use postal service, with documentation, instead of FedEx or UPS. Or, better yet, use both mail and FedEx/UPS, with the signature documenting that the rescission was both post-marked by the required date and received by the required.

Don't scrimp and try to save $50 when you have $30,000 or more at stake. Make sure you have all of the bases covered yourself. Don't rely on getting an acknowledgement from the developer. They have every reason to "lose" your notice.

 

[taffy19]

Here is Donna's post and horror story. I remember it well and it's almost three years ago now.

 

[DeniseM]

All good advice, but a scenario like this is a lot less likely to happen in the US where you have the protection of US law.

Sent from my BNTV400 using Tapatalk

 

[DonnaD]

Update

I am not permitted to name the timeshare company per our cancellation. I got the letter as part of Profeco mediation.
That collection letter arrived as I was reeling in grief from losing my husband
. It was very upsetting.