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Please advise (I still have time to rescind)

nando_7

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I stumbled upon this site like so many...AFTER I purchased a timeshare. I'm still confused but from what I can understand, it seems too good to be true. And we all know the saying...

I just purchased a time share at Pueblo Bonito Sunset for approximately $8000 when it's all said and done. This is for 8 weeks per year in a junior suite at any Pueblo Bonito Resort as well as a list of thousands of other hotels they have in a book they gave me. If I want to upgrade, I take from the $3000 of "bonus money" or whatever you want to call it that they "give" me each year. Say the upgraded room is $400, I can use $200 from that $3000 bonus money and upgrade to that room for $200(in this example). In addition to those 8 weeks, I have 50 points to use. This is where I'm confused even after I called and they explained it. What do I need more points for if I already have 8 weeks? The 8 weeks is with something called Pueblo Bonito preferred. The 50 points I'm told I can bank with RCI and every 2 years use it to book a Jr suite somewhere. When I use those 50 points there is a maintenance fee of $4.59 per point...so essentially $459 any time I book using those points. The lady explained that when I from my 8 week time that I have, the maintenance fees are "optional". Again, "optional" to me seems to good to be true. Who would pay them if they're "optional".

Can someone please help and clear this up for me and advise on whether or not this is a good purchase. I purchased yesterday at approximately 2pm so I just finished 1 complete day since purchase and am still within the rescind period and am trying to now decide if I should keep or rescind. I feel like I'm missing something here because this doesn't sound half bad from what I do understand.

Any help is greatly appreciated. Thanks
 

nando_7

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Also, I'm a little worried because I'm still in Cabo and we don't leave until noon tomorrow. If I need to rescind, I'd like to do it asap. However, I want to send it certified mail and I'm not sure if that's even an option here in Mexico.
 

Ty1on

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Rescind. Mexican timeshares are easy peasy to exchange into or rent. If you bought yesterday, you have to get that certified mail postmarked by Monday. I read a story about a guy who found a local lawyer who helped him rescind in person, but I can't tell you anything about that.
 

happymum

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I am not familiar with the Pueblo Bonito property, but in general the advice here is to rescind while you can, then take your time to research extensively before buying. That way, you know what is an appropriate cost and what benefits to expect. Make sure you follow the recission instructions exactly!
 

nando_7

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I just spoke to a lady who's number is on their information packet under "member services" who said the only thing I need to do is send an email to a particular email address requesting cancellation. She made sure to make it very clear that my $1700 deposit would be non-refundable. She said it at least 3 times.

Do they legally have to refund my deposit even if I sign something that states that I understand it was non-refundable under any circumstances? If they do not refund my deposit (which I'm guessing they won't), what are the chances I ever see that money again even if I dispute it through my bank? (U.S Bank)
 

Ty1on

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First of all, it's all refundable by Mexican law. Second, she's coaching you to violate the rescission instructions so they can deny your rescission.

DO NOT speak with Sales or Member Services!
 

Ty1on

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The rescission law supercedes any contractual language. You cannot sign away your right to full rescission.
 

nando_7

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The instructions on cancelling ARE NOT on the contract and she kept referencing the termination clause that says nothing about cancelling within 5 days or gives any address to send a cancellation letter to. Their "thirteenth clause" states:

13- This agreement may be terminated without penalty to any of the parties in the following cases:

1) Expiration of the validity of this agreement if MEMBER did not choose the corresponding renewal
2) Early termination as chosen by MEMBER, as long as MEMBER is up to date with all his/her payments under this agreement
3) By death of MEMBER and if the beneficiary does not wish to continue with this agreement

Therefore, the parties agree that in case of termination of this agreement, Pueblo Bonito will have no obligation to refund any amount to the MEMBER for any reason. The parties agree that PUEBLO BONITO will retain the amounts paid on the date of termination as a penalty for cancellation.

From everything you guys are saying and comments on other threads, that last little paragraph is not enforcable and illegal if I rescind within 5 days, correct?
 

Ty1on

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Correct. You have an inalienable right to rescind within 5 days. I thought Mexico required rescission instructions to be included with the contract, but I could be wrong. If I'm right, they violated law by not including them. Are you sure there isn't another form in there outside the contract detailing how to rescind?

Hopefully someone will chime in with the correct address, and also the address for Profeco. You should send them a copy of the rescission at the same time to establish that you rescinded on time of the resort tries to deny that you did.
 

Karen G

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The instructions on cancelling ARE NOT on the contract and she kept referencing the termination clause that says nothing about cancelling within 5 days or gives any address to send a cancellation letter to. Their "thirteenth clause" states:

13- This agreement may be terminated without penalty to any of the parties in the following cases:

1) Expiration of the validity of this agreement if MEMBER did not choose the corresponding renewal
2) Early termination as chosen by MEMBER, as long as MEMBER is up to date with all his/her payments under this agreement
3) By death of MEMBER and if the beneficiary does not wish to continue with this agreement

Therefore, the parties agree that in case of termination of this agreement, Pueblo Bonito will have no obligation to refund any amount to the MEMBER for any reason. The parties agree that PUEBLO BONITO will retain the amounts paid on the date of termination as a penalty for cancellation.

From everything you guys are saying and comments on other threads, that last little paragraph is not enforcable and illegal if I rescind within 5 days, correct?
Here is a link to Profeco, the Mexican consumer protection agency: http://www.profeco.gob.mx/revista/publicaciones/otas_pub_06/timeshares_abr06.pdf
In the center of the document it discusses the five-day rescission period. Your deposit should be returned according to Mexican law. There is also contact info for Profeco. I think there is a Profeco office in Cabo.

I've heard of people who prepared a letter while they were at Pueblo Bonito and took it to the administration office (not sales office). They had someone sign that they received the letter and kept a copy for themselves. I believe there's a business center where you could use a computer and print out a letter. It can be a simple statement that you are exercising your right of rescission according to Mexican law and be sure that both you and your husband (or whoever you bought it with) sign the letter.

If you have any questions whatsoever how the timeshare plan you bought works, rescind now while you still can. Don't talk to anyone in the sales dept. Good luck and let us know how it turns out.
 

nando_7

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Perfect. That's exactly what I'll do now. I'll keep you posted on the resolution. Thanks everyone for your quick replies! VERY helpful!
 

Karen G

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If you used a credit card for your down payment, once you prepare and deliver your rescission letter, dispute the charge with your credit card company and send them a copy of your rescission letter.
 

nando_7

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Sorry, but to confirm. On my cancellation letter I will include the following. Please let me know if I need to add anything else:

My name, date, contract number, and notice of cancellation beginning today. Anything else?
 

Ty1on

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Sorry, but to confirm. On my cancellation letter I will include the following. Please let me know if I need to add anything else:

My name, date, contract number, and notice of cancellation beginning today. Anything else?
no need to say beginning today.
 

Karen G

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Sorry, but to confirm. On my cancellation letter I will include the following. Please let me know if I need to add anything else:

My name, date, contract number, and notice of cancellation beginning today. Anything else?
Nothing else needed.
 

Ty1on

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Timeshare Owner Name
Address
City, ST Zip Code
Contact Phone Number
Fax Number
E-mail Address

Timeshare Company
Address
City, ST Zip Code
Contact Phone Number
Fax Number

Current Date

Attention Customer Service,
I am writing to cancel my timeshare contract. My name is (enter your name here) and I purchased a timeshare with (enter timeshare company) on (enter purchase date). I am writing to you within the mandated rescission period to cancel this contract. I am entitled to this rescission period by Mexican law as enforced by Profeco.

Timeshare: Generic Name Resorts
Owner: Timeshare Owner Name
Contract Number: XXXXXXXX
Date of Purchase: XX-XX-XXXX

I’ve made the decision to cancel my contract for the following reasons:
1. E.g. I do not think I can afford to make the payments.

2. E.g. I felt I was pressured/misled/lied to in the timeshare sales presentation.

Again, I am cancelling my timeshare contract immediately. Please reply with a written response and refund all monies paid by me toward this contract purchase as per law.

Sincerely,

Timeshare owner name
 

Ty1on

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PS they don't have to send a written response, but it doesn't cost anything to ask for it. They will call you trying to rescue their sale. You gain nothing by talking to them.
 

dioxide45

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No need to tell them why you have to rescind. This will just give them a reason to call or talk to you to get you to take some other offer. Just telling them you are rescinding is all you need. Provide only the necessary details.
 

nando_7

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Below is what I sent before I saw the template suggested above. I gave no reason as I didn't think that was important. Did I need to include that? Here's what I emailed them:

Contract number: 155***
Name on contract/member name: ***
Date of contract: March 9, 2017
To Whom It May Concern:
Please accept this email as notice that I would like to cancel my contract (number ***) that was activated on March 9, 2017. Today is March 10, 2017. I am within the 5 business day rescission period that is given to me under Mexican law to cancel this contract without penalty. The law also states that you are to refund me the full amount of the deposit, without penalty, within 15 days. The deposit was taken out of my bank account using my U.S Bank Visa card. There were 2 separate charges made- one for $1257 dollars, and the other for $499 dollars, for a total of $1756 dollars. Please reference this link if you have any questions regarding Mexican law mentioned above: http://www.profeco.gob.mx/revista/publicaciones/otas_pub_06/timeshares_abr06.pdf
I have also cc'd Profecos on this email, and I will be mailing a certified letter on Monday as well.
Thank you for your prompt attention and cancellation of the contract referenced above.

Will this suffice?
 

Karen G

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Will this suffice?
Yes, that should be fine. Don't forget to notify your credit card company and dispute both charges.
 

Conan

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Here's what I emailed them:

Please accept this email as notice ....
It's OK that your letter had the word "email" but you are going to deliver it physically - - not by email -- right?
 

TUGBrian

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congrats on finding TUG in time to save $8000 bucks!
 

Karen G

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Here is a quote from the Profeco brochure:

"By law, you have five business days to cancel the contract after you have signed it. If you decide to cancel the purchase within this period, notify the developer by email and certified mail. Keep the receipt as evidence you cancelled on time."

I hope the OP was able to hand deliver her rescission letter while she was still on the property as an additional means of notifying the developer as the email address she was given may or may not be the correct one. However, if she also sends her letter by certified mail so that she has the receipt from the post office showing that she did so within the five days, hopefully that will be enough to satisfy the credit card co. to reverse the charges.
 

nando_7

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Here is a quote from the Profeco brochure:

"By law, you have five business days to cancel the contract after you have signed it. If you decide to cancel the purchase within this period, notify the developer by email and certified mail. Keep the receipt as evidence you cancelled on time."

I hope the OP was able to hand deliver her rescission letter while she was still on the property as an additional means of notifying the developer as the email address she was given may or may not be the correct one. However, if she also sends her letter by certified mail so that she has the receipt from the post office showing that she did so within the five days, hopefully that will be enough to satisfy the credit card co. to reverse the charges.
Question- As long as the certified mail is postmarked within the 5 day recession period, am I ok even if it takes the letter 2 weeks to actually be delivered?
 
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