Just Rescinded

[ELG90]

Hello All,

Just became a member of TUG after reading my WorldMark Wyndham contract and doing some research after getting suckered into a presentation in Vegas and coming out with a vacation ownership. Luckily, I quickly realized I made a huge mistake that same day. I am still within the rescinding period of 5 days as I signed March 1st. I mailed the rescission letter via priority, certified with a return receipt requested. I noticed there were two different addresses on the contract. One being a P.O. Box and one regular address so to ease my own mind, I mailed to both. Both are in Orlando, Florida. Should I also send to the Wyndham resort where I signed the contract? I dated, signed, and wrote my contract and member information along with my name, phone number and email address of course. I do have one concern as the downpayment was put on the Wyndham Rewards VISA card they ran my credit for. What have been some of the decisions some of you all have made with the card and when? Lastly, is there anything else I am missing from my rescission letter or how I went about it? I followed what the contract stated, but of course for peace of mind, any recommendations/suggestions would definitely be helpful as this is all completely new to me. Hope to continue educating myself more and purchase on resale in the near future. Thanks in advance!

 

[CPNY]

Hello All,

Just became a member of TUG after reading my WorldMark Wyndham contract and doing some research after getting suckered into a presentation in Vegas and coming out with a vacation ownership. Luckily, I quickly realized I made a huge mistake that same day. I am still within the rescinding period of 5 days as I signed March 1st. I mailed the rescission letter via priority, certified with a return receipt requested. I noticed there were two different addresses on the contract. One being a P.O. Box and one regular address so to ease my own mind, I mailed to both. Both are in Orlando, Florida. Should I also send to the Wyndham resort where I signed the contract? I dated, signed, and wrote my contract and member information along with my name, phone number and email address of course. I do have one concern as the downpayment was put on the Wyndham Rewards VISA card they ran my credit for. What have been some of the decisions some of you all have made with the card and when? Lastly, is there anything else I am missing from my rescission letter or how I went about it? I followed what the contract stated, but of course for peace of mind, any recommendations/suggestions would definitely be helpful as this is all completely new to me. Hope to continue educating myself more and purchase on resale in the near future. Thanks in advance!

First, congrats! Spend time here and learn about the different systems. You may find what you want and need are two different things. Also, look into other systems since you may like those resorts and locations better.

as long as you followed the directions you should be fine. Did everyone who’s name is on the deed/contract sign the rescission letter? That’s a must. If you and a spouse are listed on the contract then both you and your spouse (or other) MUST sign the rescission letter, if not they can ignore the rescission. As long as you wrote your intent to exercise your right rescind and cancel within the specified timeframe, contract number etc etc you should be fine.

do you mind telling us how much they sold it to you for? We have a running total of how much money TUG has saved members in rescinding over the years. Welcome again!

 

[Rolltydr]

Hello All,

Just became a member of TUG after reading my WorldMark Wyndham contract and doing some research after getting suckered into a presentation in Vegas and coming out with a vacation ownership. Luckily, I quickly realized I made a huge mistake that same day. I am still within the rescinding period of 5 days as I signed March 1st. I mailed the rescission letter via priority, certified with a return receipt requested. I noticed there were two different addresses on the contract. One being a P.O. Box and one regular address so to ease my own mind, I mailed to both. Both are in Orlando, Florida. Should I also send to the Wyndham resort where I signed the contract? I dated, signed, and wrote my contract and member information along with my name, phone number and email address of course. I do have one concern as the downpayment was put on the Wyndham Rewards VISA card they ran my credit for. What have been some of the decisions some of you all have made with the card and when? Lastly, is there anything else I am missing from my rescission letter or how I went about it? I followed what the contract stated, but of course for peace of mind, any recommendations/suggestions would definitely be helpful as this is all completely new to me. Hope to continue educating myself more and purchase on resale in the near future. Thanks in advance!

You only mention yourself, not a significant other, but if you have a partner and they signed the contract, they also have to sign the recision letter. As long as the letter is postmarked within the 5 days, you should be fine. No need to send to the Wyndham where you purchased the contract. If everything is in order, your credit card charge will be refunded but it could take up to 45 days. Good luck.

Congratulations on finding TUG and welcome.

 

[Fredflintstone]

Congratulations and great decision! You will literally find better packages on resale for literally pennies on the dollar. Perhaps rent for awhile as buying a timeshare is a Long term commitment and are notoriously hard to sell. The Maintenance fees do climb yearly and you can get hit with special assessments, club dues, etc. Point values do expire forcing you to travel even if you can’t afford the airfare and other costs. Exchange companies like RCI charge large fees to exchange plus membership dues as well if you decide to exchange outside your system.

I have found renting best in my situation. I enjoy sniffing the deal, cash is king, expecting top notch service or can move on as I’m not locked into any contracts. If, by chance, I can’t travel, I bank my travel dollars versus feeling forced to use up points or time that is about to sink.

Would you be so kind as to tell us how much you saved by recinding? @Grammarhero keeps track of those who found TUG, rescinded and got full refunds.


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[ELG90]

First, congrats! Spend time here and learn about the different systems. You may find what you want and need are two different things. Also, look into other systems since you may like those resorts and locations better.

as long as you followed the directions you should be fine. Did everyone who’s name is on the deed/contract sign the rescission letter? That’s a must. If you and a spouse are listed on the contract then both you and your spouse (or other) MUST sign the rescission letter, if not they can ignore the rescission. As long as you wrote your intent to exercise your right rescind and cancel within the specified timeframe, contract number etc etc you should be fine.

do you mind telling us how much they sold it to you for? We have a running total of how much money TUG has saved members in rescinding over the years. Welcome again!

Thank you! Finding this forum was a life saver! Yes, all signatures are on the rescission letter. Saved 17k. Thanks to everyone here for your help!

 

[ELG90]

You only mention yourself, not a significant other, but if you have a partner and they signed the contract, they also have to sign the recision letter. As long as the letter is postmarked within the 5 days, you should be fine. No need to send to the Wyndham where you purchased the contract. If everything is in order, your credit card charge will be refunded but it could take up to 45 days. Good luck.

Congratulations on finding TUG and welcome.

Thanks a bunch! Would you recommend holding on to the Wyndham Rewards VISA after the refund or cancelling? I know it will be a ding on my credit, but just wondering others' thoughts.

 

[ELG90]

Congratulations and great decision! You will literally find better packages on resale for literally pennies on the dollar. Perhaps rent for awhile as buying a timeshare is a Long term commitment and are notoriously hard to sell. The Maintenance fees do climb yearly and you can get hit with special assessments, club dues, etc. Point values do expire forcing you to travel even if you can’t afford the airfare and other costs. Exchange companies like RCI charge large fees to exchange plus membership dues as well if you decide to exchange outside your system.

I have found renting best in my situation. I enjoy sniffing the deal, cash is king, expecting top notch service or can move on as I’m not locked into any contracts. If, by chance, I can’t travel, I bank my travel dollars versus feeling forced to use up points or time that is about to sink.

Would you be so kind as to tell us how much you saved by recinding? @Grammarhero keeps track of those who found TUG, rescinded and got full refunds.


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Thanks!! I have been considering renting now that I have been doing more and more research as it may be a better option for me as well. Not sure where to begin when it comes to that, but I am sure I will learn quite a bit while I am here. I appreciate everyone responding so quickly as today is the last day if I did the rescind letter wrong. I received a text from USPS that they have been delivered to both addresses already. Now comes nerves, the waiting game. I saved 17k by rescinding.

 

[CPNY]

Thanks!! I have been considering renting now that I have been doing more and more research as it may be a better option for me as well. Not sure where to begin when it comes to that, but I am sure I will learn quite a bit while I am here. I appreciate everyone responding so quickly as today is the last day if I did the rescind letter wrong. I received a text from USPS that they have been delivered to both addresses already. Now comes nerves, the waiting game. I saved 17k by rescinding.

@Grammarhero 17K Mark it!

 

[CPNY]

Thanks!! I have been considering renting now that I have been doing more and more research as it may be a better option for me as well. Not sure where to begin when it comes to that, but I am sure I will learn quite a bit while I am here. I appreciate everyone responding so quickly as today is the last day if I did the rescind letter wrong. I received a text from USPS that they have been delivered to both addresses already. Now comes nerves, the waiting game. I saved 17k by rescinding.

Which locations do you plan on visiting?

 

[CalGalTraveler]

Thanks a bunch! Would you recommend holding on to the Wyndham Rewards VISA after the refund or cancelling? I know it will be a ding on my credit, but just wondering others' thoughts.

Congrats on finding TUG and rescinding in time to save $17k. You can rent a lot and/or buy several resales for that amount of money.

Not sure why cancelling your cred card would be a ding on your credit. If no AF keep for a while because it keeps your credit utilization down. If there is an AF, keep for 11 months and then cancel when the AF is due. No ding on that decision.

 

[Fredflintstone]

Thanks!! I have been considering renting now that I have been doing more and more research as it may be a better option for me as well. Not sure where to begin when it comes to that, but I am sure I will learn quite a bit while I am here. I appreciate everyone responding so quickly as today is the last day if I did the rescind letter wrong. I received a text from USPS that they have been delivered to both addresses already. Now comes nerves, the waiting game. I saved 17k by rescinding.

No need to worry. If you followed the rescission instructions perfectly as outlined in your contract, your refund should be in your hot, little hands within 45 days. It’s the law that they accept and refund your money so it’s all good.


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[AnnaS]

Congratulations!

 

[ELG90]

Which locations do you plan on visiting?

I plan on visiting Disney world next and possibly Denver Colorado next year.

 

[ELG90]

Congrats on finding TUG and rescinding in time to save $17k. You can rent a lot and/or buy several resales for that amount of money.

Not sure why cancelling your cred card would be a ding on your credit. If no AF keep for a while because it keeps your credit utilization down. If there is an AF, keep for 11 months and then cancel when the AF is due. No ding on that decision.

Thanks for the tip. Would it be helpful to keep and use (after the money is refunded of course) to take advantage of those points and use toward vacations possibly?

 

[ELG90]

Congratulations!

Thank you so much!

 

[ELG90]

No need to worry. If you followed the rescission instructions perfectly as outlined in your contract, your refund should be in your hot, little hands within 45 days. It’s the law that they accept and refund your money so it’s all good.


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Thanks for the reassurance. Any recommendations on where to begin when it comes to renting as opposed to purchasing on resale?

 

[Fredflintstone]

Thanks for the reassurance. Any recommendations on where to begin when it comes to renting as opposed to purchasing on resale?

I must admit, I love renting timeshares. Tug has a rental section. The best deals are those 60 days out. Many of those deals are offered below MF. Redweek.com is good too. I have seen timeshares for rent in Expedia as well. I like Airbnb as well.

Shop around. Cash is King and puts you in the drivers seat. You will find great deals hunting. I have known folks post here and ask if anyone has a timeshare to rent a certain week and certain place. Many have scored doing that.


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[Rolltydr]

Thanks a bunch! Would you recommend holding on to the Wyndham Rewards VISA after the refund or cancelling? I know it will be a ding on my credit, but just wondering others' thoughts.

You can get better cards but you’ll have to make that decision based on your own credit situation and needs. I will tell you that I cancelled my Wyndham VISA a couple of years ago when they devalued the card. I had used it to pay my maintenance fees as it was worth $60 per 10,000 reward points. They reduced it to $50 so I cancelled and got a cashback card.


Harry

 

[LannyPC]

Any recommendations on where to begin when it comes to renting as opposed to purchasing on resale?

Check out TUG's Marketplace. Red Week, E-Bay, My Resort Network, and sometimes Craigslist are good. Also, if you have the freedom to travel within 45 days, you can check out TUG's Last Minute Rental section. Some ads are posted there. You can also advertise for free that you are looking for something. Perhaps a fellow TUGger with a points package can get you something where and when you want for $800 per week or less.

 

[Fredflintstone]

Check out TUG's Marketplace. Red Week, E-Bay, My Resort Network, and sometimes Craigslist are good. Also, if you have the freedom to travel within 45 days, you can check out TUG's Last Minute Rental section. Some ads are posted there. You can also advertise for free that you are looking for something. Perhaps a fellow TUGger with a points package can get you something where and when you want for $8000 per week or less.

8k per week? Wow, the most I have paid is 1400 and that was a 2 bedroom Maui Ocean club Ocean Front.




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[CPNY]

I plan on visiting Disney world next and possibly Denver Colorado next year.

If you just plan on orlando and and not necessarily DVC then you can buy into any system that has both locations. They say don’t buy RCI for the purposes of going to Disney. Sales people tell you, buy here and go to Disney, everyone does! It’s not easy from what I hear and you have to be flexible.

 

[LannyPC]

8k per week? Wow, the most I have paid is 1400 and that was a 2 bedroom Maui Ocean club Ocean Front.

Oops. One too many zeroes in that price. Fixed it.

 

[ELG90]

You can get better cards but you’ll have to make that decision based on your own credit situation and needs. I will tell you that I cancelled my Wyndham VISA a couple of years ago when they devalued the card. I had used it to pay my maintenance fees as it was worth $60 per 10,000 reward points. They reduced it to $50 so I cancelled and got a cashback card.


Harry

Ya, I have been doing my research on the card and seen the value of them has gone down over time so I may just cancel once they refund the money to it from the deposit. Just finished getting a call from someone in Orlando, FL also possibly trying to change my mind since the rescind letter went out last week, but didn't answer.

 

[ELG90]

If you just plan on orlando and and not necessarily DVC then you can buy into any system that has both locations. They say don’t buy RCI for the purposes of going to Disney. Sales people tell you, buy here and go to Disney, everyone does! It’s not easy from what I hear and you have to be flexible.

I am actually planning on taking my family to Disney some time within the first or second week of Nov of this year. We are pretty flexible as long as it is not during a peak time, but I assume many of these will be taken quickly anyway.

 

[ELG90]

I must admit, I love renting timeshares. Tug has a rental section. The best deals are those 60 days out. Many of those deals are offered below MF. Redweek.com is good too. I have seen timeshares for rent in Expedia as well. I like Airbnb as well.

Shop around. Cash is King and puts you in the drivers seat. You will find great deals hunting. I have known folks post here and ask if anyone has a timeshare to rent a certain week and certain place. Many have scored doing that.


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Oh wow, didn't know you could find some on Expedia also. Good to know! Thanks! I am definitely going to be doing my research as I am planning on Disney World first or second week of Nov.