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Recission: How Long Before I See My Deposit Returned?

wimmerlady

newbie
Joined
Jul 26, 2014
Messages
1
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0
Location
San Diego, CA
As with 90% of posters I've seen so far, we purchased our first timeshare without visiting TUG first. What a tremendous mistake! It was the usual song and dance: at Lawrence Welk Resort (Escondido / San Diego) we were certain we would not buy, but we were sucked in by the mind-games about what a good deal we were getting, and the cell phone blockers in the office prevented us from doing any research when we were there. We had been enticed to the presentation by the promise of baseball tickets, without planning to purchase a timeshare at all, and we scoffed at the $69,000 pricetag for the rooms (which were admittedly very nice) they showed us. Every time we declined one offer, they would return with another offer, all incorporating various "discounts" and special offers: law enforcement discount! VIP discount! free plane tickets! free cruises!
When they finally presented us with an offer of less than $20,000 that was spread out with payments under $300 monthly for 100 payments, we started to get excited, and somehow we purchased. They charged a downpayment of $1800 to our credit card.

We were severely uninformed, especially because we had never done any timeshare research before, and something told me to do research that night. I found TUG -- I am so grateful! -- and spent several hours perusing the forums that night! Definitely the buyer's remorse kicked in immediately when I searched online and found deals online and on TUG for pennies on the dollar. We were so disappointed, but I found several extremely helpful guidelines for how to go about writing a recission letter, which I wrote the next day. On the fourth day, we sent a fax to the number in our contract, as well as a certified letter, with 25 pages of documentation (copied from our contract and documents we had signed). I've redacted our personal information here, but this is the letter we sent, after taking parts of several suggested letters by TUG members:

Reference: Platinum Ownership Number XXXX, Contract Number P-XXXXX, Intent to Cancel July 18, 2014

Welk Resort Group, Inc.
8860 Lawrence Welk Drive
Escondido, California 92026
Attn: Welk Resorts Platinum Program


To Whom It May Concern:

Regarding Contract P-XXXXX for purchase of a Welk Resorts Platinum Program (reference Platinum Ownership Number: XXXXX) at Welk Resort in Escondido, California 92026: We, [First, middle, last names], are exercising our legal right to cancel this contract effective Thursday, July 18, 2014. We expect a full refund of our deposit of $1830 onto the American Express credit card belonging to [my name] ending in XXXX. Furthermore, we expect the cancellation of automatic payments from this credit card. Do not make any additional charges to our credit card. We are terminating this contract within our seven-day rescission period (from the day that the contract was signed on July 13, 2014) permitted to us by the State of California [California Business and Professions Code Section 11238].

Enclosed we have returned the vouchers for Platinum Benefits, provided to us on condition of our ownership. These are: four (4) round-trip airfare tickets for flight within the continental US; a Two (2) For One San Diego Harbor Excursion Dinner Cruise. These vouchers have not been claimed; do not charge us for their use or require any reimbursement since they have been returned without any benefit to us or use.

Please confirm our legal rescission in writing.

Sincerely,


[our names, contact information, etc]


My question is, how long before we can expect to see our deposit returned? I received a confirmation report on the fax, as well as a signed return slip for the certified mail. Several users reported that Lawrence Welk representatives called them after similar letters, trying to dissuade them, but no one has contacted us, and our credit card reports that there has been no cancelling or refunding of the charges. Should I send another nastygram? I want to avoid calling, because everyone we spoke to there was an extremely smooth talker and although we plan to purchase a time-share at some point, guided by TUG and with extensive research, that office was the lair of satan, filled with gorgeous people who could talk you into ANYTHING. I do not want to get on the phone with any of them! What is the next step? Should I get a lawyer? They signed for the certified letter on the 7th day, which means that not only did I get it post-marked in time (the 4th day), they received it by fax on the 4th day and it was physically in their hands by the 7th day.

Any advice?
Thank you so much to all of the members who took time to share their experiences. You helped us feel empowered to write a competent recission letter, and I am so grateful.
 
My question is, how long before we can expect to see our deposit returned? I received a confirmation report on the fax, as well as a signed return slip for the certified mail.

It can be as long as 45 days but it usually does not take that long.

Just remember, if you do not see your refund immediately, don't go phoning the resort, salesperson, timeshare company, etc., and ask because you will probably get the runaround and a repeat of the hard sell trying to convince you to reverse your decision to rescind.
 
Dispute the charge with your CREDIT CARD COMPANY. The CCC will do a big sucking sound as it gets your money out of their bank account.
 
Relax! You have written proof. I have not seen a single post on TUG where when rescission letter is post marked or received within proscribed time they have not gotten a cancellation.

If 45 days passes then a lawyer may be needed, but rescission laws are one thing Developers, even Westgate, don't ignore.
 
I would still do the formal dispute with your credit card company - it has to be in writing. Call them first, and find out exactly what you have to send them.
 
But the cc company shouldn't be doing anything drastic until the time limit has passed for the refund. You will get it. Make sure cc co. knows the date or they could create problems that don't really exist.
 
But the cc company shouldn't be doing anything drastic until the time limit has passed for the refund. You will get it. Make sure cc co. knows the date or they could create problems that don't really exist.

YOU MUST DISPUTE any charge within a certain number of days per WHERE is the home state OR the STATE where the charge was made. And I think it is FAR, FAR better to be inside the number of days verses being outside the "DISPUTE THE CHARGE" DAY count.

Follow DeniseM's suggestion, call your credit card company and ASAP dispute the charge. YOU can bet your bottom dollar the timeshare sales staff charged your credit card 2 seconds after they SWIPPED if thru their machine. That is about the length of time it would take them to enter the amount into their machine.
 
YOU MUST DISPUTE any charge within a certain number of days per WHERE is the home state OR the STATE where the charge was made. And I think it is FAR, FAR better to be inside the number of days verses being outside the "DISPUTE THE CHARGE" DAY count.

Follow DeniseM's suggestion, call your credit card company and ASAP dispute the charge. YOU can bet your bottom dollar the timeshare sales staff charged your credit card 2 seconds after they SWIPPED if thru their machine. That is about the length of time it would take them to enter the amount into their machine.

You certainly have 30 days or more, since statements come out monthly. Again, people should relax. We have never heard a story of someone not getting refund if they returned letter in time.
Did I say wait until outside the dispute day count?????
 
Thank you for posting this. We just purchased a 1 br Villa at Welk San Diego on Aug 1, we just copied and pasted your rescission letter and plugged in our data! I hope you don't mind. Please let us know when you get your refund and everything is settled. We wish we would have found these forums before purchasing as well!
 
Hello,

Wish I had found TUG before purchasing at Welks in Escondido this past Friday 8/1 as well. Before hubby and I submit our rescission letter, what is considered a good deal for a 3BR/360K platinum points EOY? I work for a major airline and travel frequently. Timeshare sounds like a good deal for our family, but just wanted to score deals out there :). Of course, when we signed up at the OC Fair to "preview" we really had no intention of purchasing that day. We did not feel pressured at all, but thought we were getting a good deal. Tips/advice please.

Thank you in advance :).
 
I can't give you specific numbers on what constitutes a 'good deal' for you, but I can say that there is no such thing as a 'good deal' from any developer.

You should rescind, now, while the opportunity exists. Then do some studying. If it turns out that buying from the developer is the right move for you, that 'deal' will always exist. We often tell people the above, and very few go back to a developer to buy again.

Timeshares today cost just pennies on the dollar. Try looking up what you purchased on eBay. The developers will offer 'bonus weeks' and special perks, that do have some value, a little. But when you pencil out what those perks actually cost you, they are VERY expensive.

Time's a'wasting. Get that letter out.

Welcome to TUG!

Jim
 
Hello,

Wish I had found TUG before purchasing at Welks in Escondido this past Friday 8/1 as well. Before hubby and I submit our rescission letter, what is considered a good deal ......Thank you in advance :).

STOP DELAYING! RESCIND NOW - you could get hit by a truck tomorrow!

The recommended timeframe to figure out WHAT timeshare system or product might be best for you is 6 months to one year.

Yes, it sounds like a long time to wait, but you are buying into a lifetime maintenance fees and vacations every year or so. You are buying more than a 7 night vacation - it is a style of vacations. If this bothers you, perhaps timesharing is not right for you AT THIS TIME.

READ, ask questions, rent or drop in on several resorts (better to do both), and ask some more questions. After awhile, it will be fast and easy to say, "I like this place; it's OK; no way do I want to sleep here; or this suits me and the family; we are really happy with this.".
 
Thank you Jim and Linda!

Rescind letter was faxed in early this morning (Mon) and since we were still in San Diego, hubby personally dropped off copy of letter and returned "welcome binder" to a staff in the escrow office. While at the resort, hubby took down names and contact number of person(s) in charge of processing cancel requests and left voicemail messages as they were not available. By the end of the day, we received a phone call and email reply confirming that our cancellation request will be processed and refund will take up to 30 days.

Thank you Jim and Linda for your reply/advice. I am so thankful to have found this TUG forum and will never sit in a timeshare sales presentation again. I am excited to research and learn more about resale. I work for a major airline and our family travel frequently. Owning a timeshare would work well for our family and can't wait to find a great deal at a discounted price :).

Kind regards ...
 
Thanks.
As you work for an airline and love to travel, I would suggest one of the larger resort chains. Welks is a smaller chain; usually trading WITHIN a system, is a better deal than looking and paying the extra layers with an exchange company. Yes, you LIVE in HI - but all the "BIG CHAINS" have multiple resorts in the islands - it is the OFF island destinations where you would be spend the TRAVEL time and costs to get to. If you prefer CA to OR/WA, be sure there are different CA resorts (as an example).
 
Thank you Linda... any recommendation on which bigger chains taking into consideration the maintenance fees? Floating weeks or points?
 
POINTS: If you are doing MOSTLY Western US travel, Worldmark is a player. If you are looking for higher level of style (along with HIGHER MFs), Hyatts (know very little) or Starwood (must buy a mandatory resort for the points) or Shell (smaller). Marriott points are expensive as you HAVE to pay a re-education fee to use them as points (the clock seems to have rotated Points are better) - but once paid, resale works work like developer points. RCI Points (look for CHEAP MFs where you buy - might be a good option - has daily bookings but with added fees).

DEEDED WEEKS: Only if the DEED is what you will use, 75% of the time. Do NOT buy an Orlando deed - little value, so easy to rent in Orlando for less than MFs.

BUT do more research for details to match your needs!
 
Don't buy any timeshare for a while. Rent a few times. TUG Last Minute Rentals are a good place to look. This will give you a chance to see and experience several systems without commitment. Or MFs. Often these are aven at lower cost than their underlying MF.

I concur with Linda that either Worldmark, or something with strong internal exchange opportunities could be best for you. I am generally happy with VRI managed resorts, and if you don't need the big hotel name, these are worth a look. You can obtain these that have been converted to RCI Points, so giving even more exchange options. www.vriresorts.com Both of these are particularly go9d for Western people.

Jim
 
Thank you again Linda and Jim. I will continue to research what type will be best for our family. Look forward to visiting this forum regularly :).
 
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