Recently Bought Timeshare - Help Rescinding - Need Advice

[Evo_Phillips]

Yesterday we purchased a timeshare through H10 Premium and are wanting to rescind. We made the purchase yesterday so we are still in the five day window.

We went to talk with the salesperson to let them know we wanted to rescind per our contract. The boss man came over and gave us the LloydShare option as well as others. They seem too good to be true. We still pushed our decision to rescind. That's when he brought over a different piece of paper that we signed stating that we could get our money back but we would be out on $3800 of our investment because of the incentives they offered us. These incentives things like $2000 for a free week of stay at the resort, $840 upgraded service for our current stay, administrative fees, and a couple other fees.

Here are my questions:
1) If we send in our letter to rescind do we miss out on the $3800 or will we get our entire investment back?

2) Do we need to work through their office here? If not, who do we send it to?

The resort is about 15m from Cancun.

Thanks in advance

 

[davidvel]

Yesterday we purchased a timeshare through H10 Premium and are wanting to rescind. We made the purchase yesterday so we are still in the five day window.

We went to talk with the salesperson to let them know we wanted to rescind per our contract. The boss man came over and gave us the LloydShare option as well as others. They seem too good to be true. We still pushed our decision to rescind. That's when he brought over a different piece of paper that we signed stating that we could get our money back but we would be out on $3800 of our investment because of the incentives they offered us. These incentives things like $2000 for a free week of stay at the resort, $840 upgraded service for our current stay, administrative fees, and a couple other fees.

Here are my questions:
1) If we send in our letter to rescind do we miss out on the $3800 or will we get our entire investment back?

2) Do we need to work through their office here? If not, who do we send it to?

The resort is about 15m from Cancun.

Thanks in advance

Rescind immediately per the instructions in your contract by everyone who signed the contract (spouse etc). Write that you decline all incentives. Call your cc and dispute the charges.

 

[Passepartout]

$2000 for a FREE week isn't quite free. If the upgrades were granted as a condition or reward for the purchase, I can see you being liable, but if it was granted in advance as an incentive to attend the presentation, you owe nothing. Follow the rescission information in your contract exactly, and STAY AWAY from the sales office. Their job is to save their commission, not help you rescind.

 

[TheTimeTraveler]

Rescind via REGISTERED MAIL and do not return to the Resort or the Sales Office.

You only have 5 Days in which to rescind so act quickly.




.

 

[Evo_Phillips]

$2000 for a FREE week isn't quite free. If the upgrades were granted as a condition or reward for the purchase, I can see you being liable, but if it was granted in advance as an incentive to attend the presentation, you owe nothing. Follow the rescission information in your contract exactly, and STAY AWAY from the sales office. Their job is to save their commission, not help you rescind.

They were part of the "bribes" for signing up and we definitely got played. The interesting part is when we sat down to talk with them about rescinding they pulled this paper out of their packet. Then used it to pressure us in to a "better" deal. However, this paper wasn't included in the original contract. They gave an excuse that the contract was written a long time ago so this was an addendum. It was also strange that it wasn't put in our packet yet they conveniently had it ready to throw in our face.

We printed out a letter to rescind and will send a copy to the company, the sales office, and profeca. We also plan on disputing the charges through our credit card company.

Thank you all for the help.

 

[RX8]

Congrats on saving your money. it is common for the Mexican timeshare salespeople to lie to you about your rescission rights. Some have gone so far as to have a buyer sign a piece of paper waiving their rescission rights (not legally binding).

 

[Evo_Phillips]

I dropped off the letter of recision to the sales office. They want me to come back on Saturday (they are closed tomorrow) to sign some documents. Should I head in to sign them or just leave it at the recision letter?

 

[bogey21]

Mail it. Any conversation you have with these people will do nothing more than get you in deeper and may end up voiding your rescission rights...

George

 

[dioxide45]

Does the contract provide a provision to email or fax the rescission? Mailing is a good option, but I don't trust the mail in Mexico to actually get it delivered. Going to the sales office is problematic and they aren't the people that process rescissions.

 

[davidvel]

I dropped off the letter of recision to the sales office. They want me to come back on Saturday (they are closed tomorrow) to sign some documents. Should I head in to sign them or just leave it at the recision letter?

DO NOT GO back. DO NOT SIGN anything.

 

[easyrider]

Yesterday we purchased a timeshare through H10 Premium and are wanting to rescind. We made the purchase yesterday so we are still in the five day window.

We went to talk with the salesperson to let them know we wanted to rescind per our contract. The boss man came over and gave us the LloydShare option as well as others. They seem too good to be true. We still pushed our decision to rescind. That's when he brought over a different piece of paper that we signed stating that we could get our money back but we would be out on $3800 of our investment because of the incentives they offered us. These incentives things like $2000 for a free week of stay at the resort, $840 upgraded service for our current stay, administrative fees, and a couple other fees.

Here are my questions:
1) If we send in our letter to rescind do we miss out on the $3800 or will we get our entire investment back?

2) Do we need to work through their office here? If not, who do we send it to?

The resort is about 15m from Cancun.

Thanks in advance

Send a rescission letter email and include everyone's name that signed as wanting to rescind. Also send or give them the letter. In this communication say you do not want this product and expect a full refund. CC a copy to Profecco ( turista@profeco.gob.mx ), the resort and your credit card company.

It is fraud to tell you the incentive or anything they offered has to be paid back. Claim fraud with your credit card company. The resort may not cooperate but Visa will make sure you get your funds back, Profecco will see the complaint and the resort will see that you included Profecco within the recission period.

Bill

 

[Ty1on]

I dropped off the letter of recision to the sales office. They want me to come back on Saturday (they are closed tomorrow) to sign some documents. Should I head in to sign them or just leave it at the recision letter?

If you dropped off the rescission letter to the sales office, you never dropped off the rescission letter. They have no incentive NOT to lie and say you never did so.

The BS you signed about them keeping $3,800 is meant to intimidate buyers out of rescinding and has no legal standing. By Mexican law, they must completely reverse the entire transaction when you rescind.

 

[bjones9942]

I agree with the above. Follow the directions to rescind exactly as they are described in your contract. Do not talk to anyone in person. Do not sign anything new. Follow the directions to rescind exactly as they are described in your contract. And it wouldn't hurt to send an email with a cc to profeco stating that you have elected to rescind and that they should expect the paperwork shortly via whatever means you sent it.

 

[Grammarhero]

Yesterday we purchased a timeshare through H10 Premium and are wanting to rescind. We made the purchase yesterday so we are still in the five day window.

We went to talk with the salesperson to let them know we wanted to rescind per our contract. The boss man came over and gave us the LloydShare option as well as others. They seem too good to be true. We still pushed our decision to rescind. That's when he brought over a different piece of paper that we signed stating that we could get our money back but we would be out on $3800 of our investment because of the incentives they offered us. These incentives things like $2000 for a free week of stay at the resort, $840 upgraded service for our current stay, administrative fees, and a couple other fees.

Here are my questions:
1) If we send in our letter to rescind do we miss out on the $3800 or will we get our entire investment back?

2) Do we need to work through their office here? If not, who do we send it to?

The resort is about 15m from Cancun.

Thanks in advance

@Evo_Phillips Mind sharing how much you'd save in rescission? As half of tuggers initially bought developer TS, there is no shaming.

 

[Evo_Phillips]

@Evo_Phillips Mind sharing how much you'd save in rescission? As half of tuggers initially bought developer TS, there is no shaming.

We bought a package for $12k and paid for the entire thing up front. As of yesterday we got all $12k of our money back from the company. We never went back to the sales office and just dealt with the company headquarters. They were direct with what we needed to do and were responsive in getting our money back.

The things we won't get back are the six hours we spent with the sales people on day one of our vacation and all of day two working to get our money back. Now I know better.

I really appreciate this forum, it was a big help in getting out of this mess.

 

[T-Dot-Traveller]

We bought a package for $12k and paid for the entire thing up front. As of yesterday we got all $12k of our money back from the company. We never went back to the sales office and just dealt with the company headquarters. They were direct with what we needed to do and were responsive in getting our money back.

The things we won't get back are the six hours we spent with the sales people on day one of our vacation and all of day two working to get our money back. Now I know better.

I really appreciate this forum, it was a big help in getting out of this mess.

Welcome to TUG
Glad you got your $ 12 K back

Come back again and find out how to rent or buy resale - and get great vacations using timeshares.

TUG has:
1 ) Marketplace for rentals and resales
2) last minute rental Forum ( 45 days or less to check in / max $ 800 a week)
3) sub forum where you can view TS that folks are giving away.

 

[LannyPC]

The things we won't get back are the six hours we spent with the sales people on day one of our vacation...

When they enticed you to attend the sales presentation, how long did they promise the sales presentation would last?

I'm going to safely assume it was nowhere near six hours. So what made you stay for six hours? I'm not trying to scold or criticize you. This happens a lot. We hear several complaints on these boards how these presentations lasted a lot longer than promised. But to satisfy my curiosity and so we can help others who come on these boards enquiring about sales presentations, what prevented you from leaving after the agreed-upon time (90 minutes? 2 hours?)?

 

[IN102XL]

When they enticed you to attend the sales presentation, how long did they promise the sales presentation would last?

I'm going to safely assume it was nowhere near six hours. So what made you stay for six hours? I'm not trying to scold or criticize you. This happens a lot. We hear several complaints on these boards how these presentations lasted a lot longer than promised. But to satisfy my curiosity and so we can help others who come on these boards enquiring about sales presentations, what prevented you from leaving after the agreed-upon time (90 minutes? 2 hours?)?

Well for me, leaving is difficult because I finally feel heard. And I believe that I am close to a solution. While I may still feel a little doubtful, I also feel hopeful that things are going to work out. This is my moment. The moment where I win and things improve for me. I believe there words. I believe they are trying to help me. I believe I am getting a great deal. And I am looking forward to travel and enjoy whatever perks and benefits have been promised to me. I stay because I feel as if I am finally wining. Finally catching a break. My doubtfulness may still fluctuate but I desperately want to win. So, I ignore logic and common sense and focus on my feeling. And during those moments I am feeling heard, I am feeling important, I am feeling like a winner. I don’t actually begin feeling like a loser and or a fool until the next few days.

 

[Evo_Phillips]

When they enticed you to attend the sales presentation, how long did they promise the sales presentation would last?

I'm going to safely assume it was nowhere near six hours. So what made you stay for six hours? I'm not trying to scold or criticize you. This happens a lot. We hear several complaints on these boards how these presentations lasted a lot longer than promised. But to satisfy my curiosity and so we can help others who come on these boards enquiring about sales presentations, what prevented you from leaving after the agreed-upon time (90 minutes? 2 hours?)?

Our sales pitch was a one on one meeting with the sales guy which they said would last about 90 minutes. We went to breakfast then went out to walk around the resort. Honestly, we didn't even talk about the timeshare stuff for the first hour or two. The guy we talked to was an American and the conversation was interesting and a lot of fun. I understand that this was all part of their effort to gather information and to make "friendly" to legitimize the sales pitch. By the time we were in the sales pitch we were buzzed and not making the best decisions.

By the time we were done signing we had spent six hours with the sales team. The six hours wasn't just the "90 minute" pitch but was from the initial hook at the check in counter to the final sale in the sales office.