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Purchased Worldmark & Sent Rescission Thanks to TUG

donscott

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1/11/20 - I purchased 10,000 annual credits and they threw in 10,000 bonus credits for about $28k, Found this forum same day, became a member and did the normal research. Faxed in my rescission 1/12/20 and followed up by sending my rescission letter certified mail yesterday (1/13/20). Many thanks for all the great info on the forum!

Does anyone know approximately how long it takes for them to process the rescission and send me confirmation? If not, I'll report back with that info for others.
 

sue1947

TUG Review Crew: Rookie
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They will process the rescission, but they aren't required to send confirmation so don't worry if you don't get one.
A good resource for buying WM resale is wmowners.com/forum. Look at the Memberships for sale thread to get an idea of current resale prices.
 

TheTimeTraveler

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1/11/20 - I purchased 10,000 annual credits and they threw in 10,000 bonus credits for about $28k, Found this forum same day, became a member and did the normal research. Faxed in my rescission 1/12/20 and followed up by sending my rescission letter certified mail yesterday (1/13/20). Many thanks for all the great info on the forum!

Does anyone know approximately how long it takes for them to process the rescission and send me confirmation? If not, I'll report back with that info for others.


Good move on the rescission! As Sue said, they don't have to acknowledge receipt of your rescission but they do have to act on it, and you should receive a refund within a 45 day timeframe.

Smart move on becoming a member, and welcome to TUG.





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donscott

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As a followup, on the day my rescission letter was delivered by certified mail, I received an email and a phone call from the sales people I talked to at the time of purchase. I didn't answer as I was not going to have them attempt to change my mind. I received a rescission confirmation letter by email today (7 days from when my rescission letter was delivered). The refund has yet to hit my credit card, but I'll post when it does.

Anyway, this follow up is just for anyone searching the forums to get a rough timeline of the rescission process with Worldmark.
 

DaveNW

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Nice work, Don. When you're ready to buy again, check the WorldMark resales on eBay. You can get a 10K credit account for a couple thousand dollars or less. Way better than $28K.

Dave
 

CPNY

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1/11/20 - I purchased 10,000 annual credits and they threw in 10,000 bonus credits for about $28k, Found this forum same day, became a member and did the normal research. Faxed in my rescission 1/12/20 and followed up by sending my rescission letter certified mail yesterday (1/13/20). Many thanks for all the great info on the forum!

Does anyone know approximately how long it takes for them to process the rescission and send me confirmation? If not, I'll report back with that info for others.
@Grammarhero did we capture this 28K?
 

lotus5

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We are vacationing at Worldmark Indio. Got sucked into adding 7000 points to our account for $18,000! We know better! But here we are. Doing the rescind today. Can I just go into the sales office to do this and put up with the noise? or fax and certified letter? What wording in the rescind letter? - Jim
 

Grammarhero

Official TUGBBS Rescission Master
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We are vacationing at Worldmark Indio. Got sucked into adding 7000 points to our account for $18,000! We know better! But here we are. Doing the rescind today. Can I just go into the sales office to do this and put up with the noise? or fax and certified letter? What wording in the rescind letter? - Jim
Definitely do rescind. I've seen WM contracts on ebay for $3k. Look for your contract paperwork for the rescission instructions. Follow as exact.

Read TUG for two months. Maybe rent. Then if you are comfortable, then buy a TS, a lifelong commitment.
 

donscott

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Update, I saw the $$$ deposited back into my account the day after they confirmed my rescission. Timeline simplified in this post for future reference:

Saturday - 1/11/20 - Bought Timeshare from Worldmark
Sunday - 1/12/20 - Sent Rescission letter by Fax (Rescission letter for California people is in CA-Worldmark-Public Report they provided)
Monday - 1/13/20 - Sent Rescission letter by Certified Mail
Thursday - 1/16/20 - Rescission letter delivered via Certified Mail
Thursday - 1/16/20 - Received calls and emails from salespeople to try and change my mind (I ignored both)
Thursday - 1/23/20 - Received email from Worldmark with a Rescission Confirmation Letter
Friday - 1/24/20 - Funds were refunded back to my credit card

@lotus5 The CA Public Report says you can return the rescission letter to the point of sale, by fax or certified mail, but I would recommend certified mail (much easier and less likely that letter gets lost)
 
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