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Newbie and New Owner and want to cancel immediately!

Kurai

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Hello I'm very new here and new to this timeshare.. here's my story.

On June 3th 2022 my fiance and I were just having a small vacation together before getting married on June 10. We were staying at a La Quinta Hotel, on our way back to our hotel room we were stopped by this gentleman asking us if we just checked in into the hotel recently. We told him we checked in the day before. He asked "oh have you got your coupons yet? For all the restaurants and events going on the place we're visiting. He mentioned that Wyndham had bought out La Quinta and is now part of there hotel family. He gave us a bunch of coupons and told us that there was a event going on at this new hotel not too far from where we're staying at. That if you attend, youll get gifts at the end if you stayed to the end. Surely unaware that he was trying to lure us to those 2hr Timeshare contract purchases and unaware we end up going.
So we went, got assigned to this guy, the way he was convincing us to sign up and how another gentleman did the presentation, they were using sympathetic tactics to get people to buy the contract. The guy who was giving presentation he was using his son who is in terminal cancer stage and the agent who was assigned to us was using the death of his newborn son and that fact that his wife was from the same country as I am to his advantage. So and so what supposed to be less than 2hrs we were there 5hrs, my fiancé knew was going on and of course for me I got lured into it and end up signing the contract and signed up for a credit card as well or "Earners Card". They told me I didn't have to pay any deposit until I found towards the end that I have to pay the $8000+ deposit they charged from the credit card which they mentioned at the end and have to pay it off within 6 months which I don't have the money for. So after that conundrum when we got back to the hotel realizing what the mistake I had done had ruined my time with my fiancé.
So couple days later I found the "rescission" part of the contract that I only have within 6 days to recind the contract but I researched that in the state of Texas is was within 5 days by law. I signed the contract on June 3 and sent the cancelation letter on June 7 notarized, certified with signature and a return receipt to the mentioned address that was written on the rescission part of the contract. The tracking number said it was recieved and signed by a person there stating that they had received it. So hopefully im still in time to cancel. So today as of June 11 I received the credit card and I dont want to activate knowing that I've sent the cancelation notice prior to that. So please I really need help with this. I got the $23k property contract with the 8k down payment which they charge on the credit card that I got today. I even emailed the rescission department email that I found on this forum asking if they have received and looked at the notice. So please help!
 

VacationForever

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Since you rescinded within the 5 days, i.e. postmark, and tracking information to show that it was received, you should be fine. I know you don't want to activate the card, but you do need to track the refund of the charges back to the credit card. I would call the credit card company to indicate that you are not intending to use the card and won't be activating it, but there was an $8K charge on it that should be refunded because of rescission.
 
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Kurai

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Since you rescinded within the 5 days, i.e. postmark, and tracking information to show that it was received, you should be fine. I know you don't want to activate the card, but you do need to track on the refund of the charges back to the credit card. I would call the credit card company to indicate that you are not intending to use the card and won't be activating it, but there was an $8K charge on it that should be refunded because of rescission.
Thank You ill definitely do a follow-up on that.
 

DaveNV

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It's the postmark date of when you SENT the rescission letter, not when it was received. So you should be good to go. Save all those receipts as proof that you did things within the timeframe allowed.

Welcome to Tug. Stick around and read more about buying a timeshare resale, which you can get for pennies on the dollar, and often for Free. It's a great way to have excellent vacations, but you need to know how things work.

Dave
 

Kurai

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Today I called the credit card company, it was answered through a computer. I haven't activated it but I did ask if there was any transaction charged to it and it said it charged me the amount of the down payment of 8k. I wanted to talked to a direct person but they didn't give me that option. Has anyone had any success in completely canceling their contract?. It wasn't in my intention to have this, but I was pressured into it.
 

VacationForever

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Today I called the credit card company, it was answered through a computer. I haven't activated it but I did ask if there was any transaction charged to it and it said it charged me the amount of the down payment of 8k. I wanted to talked to a direct person but they didn't give me that option. Has anyone had any success in completely canceling their contract?. It wasn't in my intention to have this, but I was pressured into it.
Most of us on this forum has rescinded a developer purchase. I have done it 4 times myself.
 

dioxide45

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Today I called the credit card company, it was answered through a computer. I haven't activated it but I did ask if there was any transaction charged to it and it said it charged me the amount of the down payment of 8k. I wanted to talked to a direct person but they didn't give me that option. Has anyone had any success in completely canceling their contract?. It wasn't in my intention to have this, but I was pressured into it.
If you already mailed your rescission letter, be patient. The timeshare companies don't play games with state rescission law. There is nothing you can do to speed up the process. The credit card is a separate application and you will still have it after rescission is complete. Any down payment will be refunded to the card and it will have a $0 balance. Choose to keep it or close it as you wish.
 

emeryjre

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When you call the 800 number on the back of your inactivated credit card, start hitting the zero key and keep saying representative until you break through the initial phone “tree” sequence. In my experience this can be the only way to get to some one to talk to.
 

easyrider

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Today I called the credit card company, it was answered through a computer. I haven't activated it but I did ask if there was any transaction charged to it and it said it charged me the amount of the down payment of 8k. I wanted to talked to a direct person but they didn't give me that option. Has anyone had any success in completely canceling their contract?. It wasn't in my intention to have this, but I was pressured into it.
There should be a number on the card to report fraud. They usually answer. Talk to this department to dispute the charge.

Bill
 

VacationForever

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The main thing is that while waiting for a refund back to the card, you don't want to end up with being delinquent on the credit card charge because it will incur fees and dings your credit history for not making payment on time. Hence, you need to reach someone in the credit card department with the situation, so that they can put the charge on hold.
 

dioxide45

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The main thing is that while waiting for a refund back to the card, you don't want to end up with being delinquent on the credit card charge because it will incur fees and dings your credit history for not making payment on time. Hence, you need to reach someone in the credit card department with the situation, so that they can put the charge on hold.
A credit card payment isn't due until 21-25 days after the end of the billing cycle. If they just signed up for the credit card, chances are the end of the next billing cycle isn't for at least 30 days. Rescission should be long taken care of before a payment is ever due.
 

VacationForever

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A credit card payment isn't due until 21-25 days after the end of the billing cycle. If they just signed up for the credit card, chances are the end of the next billing cycle isn't for at least 30 days. Rescission should be long taken care of before a payment is ever due.
I understand that but I always try to be extra cautious on everything financial.
 

ttraveler

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Most of us on this forum has rescinded a developer purchase. I have done it 4 times myself.
When you have recinded how long did you wait for notification. Recinded a Vistana contract and have not heard anything - am looking for a number to contact them to check on things
 

VacationForever

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When you have recinded how long did you wait for notification. Recinded a Vistana contract and have not heard anything - am looking for a number to contact them to check on things
There is no notification. You just have to wait for the refund to show up on the credit card.
 

dioxide45

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When you have recinded how long did you wait for notification. Recinded a Vistana contract and have not heard anything - am looking for a number to contact them to check on things
How long ago did you send your rescission?
 

RX8

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Other than waiting for your refund, if you haven’t already received it, there is nothing else to happen with the rescission. Congrats on saving some big bucks.
 
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