Need Help Rescinding Holiday Inn Club Vacations Time Share

[Njramsey]

the state you signed the contract in dictates how long you have to legally rescind.

it ranges from 3 to 15 days, sadly back in feb is well past any legal rescission period.

So once you pass this date how do you get out

 

[Njramsey]

My wife and I went involved in this matter and bought at Holiday Inn Club Vacation in timeshare. After buying in April 2019 then several months passed to activate our account until debiting payments amounting to 4,500 dollars. But after activating the account I have tried to use but we had this deception we realize that what they sold to us at the moment does not work.

Now we can't make a reservation at national hotels in the Dominican Republic we can't book outside our conuntry because there is never availability. We want to end the contract and we would like to know what is the best way to end this deception so as not to pay something that we will never be able to use because we are in the Caribbean.

We would like to cancel this contract , this is a hoax and we were scammed....

Where you able to cancel? I am trying to find out how to cancel?

 

[Njramsey]

Hi there,

I'm new to tugbbs but I've read a few of the forums here. I need a bit of clarification that would be much appreciated.
I signed up not realizing how expensive it would be for 2 vacations per year. I have 100,000 points with Holiday Inn Vacation Club and realized that it entitles us to 2-2.5 vacation days PER YEAR. When originally signing up, we were misled to think the 40,000 points were for the full period of the vacation week and not 40,000 points per NIGHT at the hotels. We want to cancel our timeshare, however, I'm not sure if we are eligible for a rescission simply because although we just made the last payment for the deposit 3 days ago, we signed the contracts back in October when we originally signed up. Is there a way to cancel this timeshare as we cannot afford to keep it, it will cost us 3-4 times our regular vacation funds each year. I'd love to get some or all of our funds back but don't think I'll be so lucky. However, what are my options at this point? Despite it being a legal contract, can we write a letter to cancel and that seal the deal?

Thanks for the help!

Where you able to cancel? Any advice? I am trying to cancel, I owe so much and we can not afford it we need out!!!

 

[TUGBrian]

So once you pass this date how do you get out

well sadly if you are past that date, you dont have very many good options.

1. you can still try to cancel following the instructions, but if you are beyond your legal rescission date they have no obligation to let you out. squeaky wheel sometimes gets the grease.
2. default
3. learn to use what you purchased...unfortunately this will be the only way to extract any value out of your ownership.

sadly if you still owe on the loan, its doubly more difficult as the creditor who lent you the money expects to be paid back that money they loaned, and are going to be far more aggressive at recovering those funds should you become unable or unwilling to pay.

if you transfer the loan balance to another line of credit, you can give your ownership back to holiday inn for free and be rid of the maintenance fees.

 

[Passepartout]

Depending on when you signed the contract, you can rescind (terminate the contract) without penalty. Once that time has passed, you are obligated to complete (pay) the contract. It's almost impossible to cancel after the time has passed for you to cancel unless you have written proof that you were promised something that was not in the contract. The fact that you signed up for payments you can't afford is not grounds to cancel. Sorry. The alternative is to simply stop paying, but that can have serious repercussions on your credit- including reduced score, foreclosure, collection and lawsuit including garnishment of pay.

Good Luck!

Jim

 

[3663fbdad]

Hey everyone, I'm new here just in the past few days, and I apologize for not posting until now, but when I found the site I felt that I needed to get busy rescinding immediately......The wife and I took the HICV offer to go to Gatlinburg, TN for a few nights. I never thought I would get caught up in this mess but here we are......The sales pitch was very good, but with that said, we are not really mad at those folks, however, we are extremely mad at ourselves.
We purchased (signed by both) on Saturday evening 9/26/2020, by noon Sunday on the trip home, I literally began to feel sick about the decision. Shortly after arriving home I began some research and starting feeling even worse. Work on Monday was a mess, I started the rescission letter that day at work, I talked more with the wife after work and we had the letter (signed by both) sent out by USPS certified return receipt mail on Tuesday 9/29/2020 by 2 pm (In Tenn. you have ten days)......I pray that I had everything correct.
Also, it was a bit tricky finding the proper address. The sheet they give you about canceling/rescinding says to send to "Seller" at the address given. Then you have to track down the correct seller name. I might not should have but I also sent it to the Land Trust Co, the Escrow Co, and the Title Co. too.....I included highlighted copies with TN code for rescission, address', etc......I also returned the member kit and member orientation trip offer.
As a reminder, those mailings can be tracked with the tracking number on the receipt
A question I do have is this.....just to be safe should I send the letter again?
I will try to keep everyone updated and thanks to all that participate here......I really hope this works out!!!

 

[rickandcindy23]

The return receipt is proof that you sent it and all you need, but I would be worried the same as you are. I don't know why they are allowing these companies to hide the information for the address you need to send to. That is my concern.

 

[TheTimeTraveler]

Hey everyone, I'm new here just in the past few days, and I apologize for not posting until now, but when I found the site I felt that I needed to get busy rescinding immediately......The wife and I took the HICV offer to go to Gatlinburg, TN for a few nights. I never thought I would get caught up in this mess but here we are......The sales pitch was very good, but with that said, we are not really mad at those folks, however, we are extremely mad at ourselves.
We purchased (signed by both) on Saturday evening 9/26/2020, by noon Sunday on the trip home, I literally began to feel sick about the decision. Shortly after arriving home I began some research and starting feeling even worse. Work on Monday was a mess, I started the rescission letter that day at work, I talked more with the wife after work and we had the letter (signed by both) sent out by USPS certified return receipt mail on Tuesday 9/29/2020 by 2 pm (In Tenn. you have ten days)......I pray that I had everything correct.
Also, it was a bit tricky finding the proper address. The sheet they give you about canceling/rescinding says to send to "Seller" at the address given. Then you have to track down the correct seller name. I might not should have but I also sent it to the Land Trust Co, the Escrow Co, and the Title Co. too.....I included highlighted copies with TN code for rescission, address', etc......I also returned the member kit and member orientation trip offer.
As a reminder, those mailings can be tracked with the tracking number on the receipt
A question I do have is this.....just to be safe should I send the letter again?
I will try to keep everyone updated and thanks to all that participate here......I really hope this works out!!!

Post # 3 on this thread does contain an address in Kissimmee, Florida for sending rescission paperwork. Now this posting is three years old, but I would be tempted to mail another copy of your rescission letter to that particular address if you haven't done so already......

Check it out and act quickly!

BEST OF LUCK and let us know how you finally make out.


.

 

[3663fbdad]

Post # 3 on this thread does contain an address in Kissimmee, Florida for sending rescission paperwork. Now this posting is three years old, but I would be tempted to mail another copy of your rescission letter to that particular address if you haven't done so already......

Check it out and act quickly!

BEST OF LUCK and let us know how you finally make out.


.

The 8505 W. Irlo Bronson Memorial Hwy. Kissimmee, Florida 34747 address is what I had for the "Orange lake Land Trust" and "Wilson Resort Finance, LLC" (Which is listed as the creditor). I sent to both also......What I found the "Seller" name on was the front page of the purchase agreement.....Per the heading "SELLER/DEVELOPER: Holiday Inn Club Vacations Incorporated 9271 S. John Young Pkwy, Orlando FL 32819" which matched the address on the notice sheet about being able to cancel under the TN code. Thanks for responding!!

 

[Grammarhero]

The 8505 W. Irlo Bronson Memorial Hwy. Kissimmee, Florida 34747 address is what I had for the "Orange lake Land Trust" and "Wilson Resort Finance, LLC" (Which is listed as the creditor). I sent to both also......What I found the "Seller" name on was the front page of the purchase agreement.....Per the heading "SELLER/DEVELOPER: Holiday Inn Club Vacations Incorporated 9271 S. John Young Pkwy, Orlando FL 32819" which matched the address on the notice sheet about being able to cancel under the TN code. Thanks for responding!!

I have the address as S John Young as attached. Let’s hope and pray for the best.

To track TUG rescission savings, mind sharing how much you saved with rescission? As half of tuggers initially bought developer/retail TS, there is no shame.

 

[3663fbdad]

I have the address as S John Young as attached. Let’s hope and pray for the best.

To track TUG rescission savings, mind sharing how much you saved with rescission? As half of tuggers initially bought developer/retail TS, there is no shame.

$11,627.00......I hope

 

[3663fbdad]

Sorry I haven't updated our situation. Life has been hectic but I am happy to report that everything worked out for us. Even received a letter back confirming the rescission. Because of the help of this forum, thankfully we saved a tick over $12,000.00. What a blessing! Whole process took just about 2-1/2 weeks. Thanks again!