Official TUGBBS Rescission Master
TUG Lifetime Member
- Jun 9, 2019
- Reaction score
- Washington, DC Area
- Resorts Owned
- Wyndham 353k pts, Williamsburg Plant 4L/4 & 2/2, DRI South Bend 1/1
The way Wyndham hoodwinked the OP he should just walk away and stop paying. Sorry to the few that think it is wrong to use anti deficiency laws to their advantage. But this OP was totally taken advantage of. I would also suggest trying to have the credit card charges reversed if he can prove it is not mentioned in his purchase agreement.I estimate OP’s rescinded TS to be about $25k. His deposit was $7k. His payments on the rescinded TS would be about $500 for ten (10) years. Using the 12 percent interest rate and the Accounting 72 Rule of 2, looks like the financed value is about $18k.
You can do either. I have started a conversation with you. You can respond to it or post the information I had enumerated right here.How do I PM you? Just attach the file on here?
Okay. We know that the NJ TS has deficiency treatment. Looks like the CWA, with the PVTO being located in DE, also has deficiency treatment. Looks like OP's screwed in this aspect.I also just realized that the contract from November in Atlantic City says that I'm married, and I'm not. I wonder would that make that contract mull and void?
I doubt that caution prevents OP from being forthcoming. I suspect he is overwhelmed by all the contract nonsense. He should just take a deep breath and gather all the facts first before desperately looking for a solution. It's much simpler to make the right decision when one has all the facts.@BilWil Thank you for providing this information. Unfortunately, you might not qualify for anti-deficiency treatment as your Wyndham TS are in NJ and DE (PVTO). We have four (4) reports of tuggers who defaulted on Wyndham TS. Two defaulted on Wyndham loans. None got reported to the credit agencies or faced a loan. However, he situation is different.
We hope that you are well. If you made the difficult decision to default, would you kindly let us know or PM me as to whether your credit got affected? The information would help TS owners moving forward.I also just realized that the contract from November in Atlantic City says that I'm married, and I'm not. I wonder would that make that contract mull and void?