Everything has been resolved, but I wanted to post my experience so that if the moment comes when you realized you've made a mistake you don't freak out. I signed my contract after 6 hours! of going over everything. I had a lot of questions because it sounded to good to be true. It was confusing to understand as well. LOTS of red flags. Anyway, I went to my hotel and started researching and knew I needed to undo this. I didn't sleep. I read the contract, googled everything I could, and looked for stories of success. There weren't many and all the ones i did find were old. the part that amazed me the most is how some of the stories are over a decade old and its all the same tricks! these offers aren't going anywhere.
I signed on a Wednesday and the next day i had to fly back home. 12 hours of my life so basically the whole day. Friday i typed up my rescission letter and headed to the post office to send it by registered mail. sent an email to the members services department and made many calls that day and Saturday. Monday i sent more registered mail and emails. by 5pm I had my cancelation email. always send everything in writing. even though i have my cancellation email, i want it on paper that i did it the way my contract stated. it was hidden and i had to work hard to get the info on the phone. most of the information that i needed was not in my paperwork, but thankfully it all worked out.
the lies: before signing I was told this is an investment, that you can rent it out for thousands! that you can stay anywhere in the world in this book he gave me for $300-$600 a week. they have discounts on planes, cruises, hotels, etc. i had 4 weeks of travel to use because he gave me extra days and extra points. i was told there were no maintenance fees unless i used it and a $1500 refurbishing fee every 5 years. thats it! easy peezy. i also got a $1500 credit on a cruise so basically its free. when i got home and started to really read the fine print, most of this was not the case. there were going to be fees all the time and they would increase 6% or whatever inflation is at the time. reading online i saw tons of complaints about how many members could not book anywhere, could only use a limited amount of points at a time, that non-members got rooms at pueblo bonito cheaper than us "owners" and we also have to eat the cost of listing the property (a set amount goes directly to pueblo bonito.) i was told i wouldnt get my account information for 4-5 days, which didnt bother me bc it was going to be the weekend, but thankfully i realized what a huge mistake i was making and rescinded immediately! ive read many dont realize their mistake until they cant book, the bills for maintenance start coming, or their account information never comes. does any of this sound familiar? great deal right? well... the lies didnt stop there. when i asked how do i cancel (before i signed, he said "you just put it in writing and thats it.")
after i sent my email of rescission, the sales person got back to me later that day. said i was going to lose out big and he was trying to help me not lose my money. guaranteed i could make my money back by renting it out to the tune of $14k at least a month from now. basically i would be using other peoples money to pay my debt. If i didnt go through with the deal, i was not going to get my down payment back because i signed a waiver. i told him i have 5 days due to mexico's law of rescission in article 56. i also told him he never told me about the 5 day rule and it was not in my contract. he said our contract was different, that i was going to be penalized and if i didnt let him help me and keep the timeshare that the collections department would be taking over. i only had 24hours to change my mind and after that he wouldnt be able to save me from losing all my money. he also said that they would come after me for payments if i didnt pay 50% of my balance off. that paying min 50% was the only way out of my contract. i read enough online that i knew none of this was true. Please, do not ever believe the lies or let them scare you into changing your mind. you can resign later, but u cant always rescind.
I signed on a Wednesday and the next day i had to fly back home. 12 hours of my life so basically the whole day. Friday i typed up my rescission letter and headed to the post office to send it by registered mail. sent an email to the members services department and made many calls that day and Saturday. Monday i sent more registered mail and emails. by 5pm I had my cancelation email. always send everything in writing. even though i have my cancellation email, i want it on paper that i did it the way my contract stated. it was hidden and i had to work hard to get the info on the phone. most of the information that i needed was not in my paperwork, but thankfully it all worked out.
the lies: before signing I was told this is an investment, that you can rent it out for thousands! that you can stay anywhere in the world in this book he gave me for $300-$600 a week. they have discounts on planes, cruises, hotels, etc. i had 4 weeks of travel to use because he gave me extra days and extra points. i was told there were no maintenance fees unless i used it and a $1500 refurbishing fee every 5 years. thats it! easy peezy. i also got a $1500 credit on a cruise so basically its free. when i got home and started to really read the fine print, most of this was not the case. there were going to be fees all the time and they would increase 6% or whatever inflation is at the time. reading online i saw tons of complaints about how many members could not book anywhere, could only use a limited amount of points at a time, that non-members got rooms at pueblo bonito cheaper than us "owners" and we also have to eat the cost of listing the property (a set amount goes directly to pueblo bonito.) i was told i wouldnt get my account information for 4-5 days, which didnt bother me bc it was going to be the weekend, but thankfully i realized what a huge mistake i was making and rescinded immediately! ive read many dont realize their mistake until they cant book, the bills for maintenance start coming, or their account information never comes. does any of this sound familiar? great deal right? well... the lies didnt stop there. when i asked how do i cancel (before i signed, he said "you just put it in writing and thats it.")
after i sent my email of rescission, the sales person got back to me later that day. said i was going to lose out big and he was trying to help me not lose my money. guaranteed i could make my money back by renting it out to the tune of $14k at least a month from now. basically i would be using other peoples money to pay my debt. If i didnt go through with the deal, i was not going to get my down payment back because i signed a waiver. i told him i have 5 days due to mexico's law of rescission in article 56. i also told him he never told me about the 5 day rule and it was not in my contract. he said our contract was different, that i was going to be penalized and if i didnt let him help me and keep the timeshare that the collections department would be taking over. i only had 24hours to change my mind and after that he wouldnt be able to save me from losing all my money. he also said that they would come after me for payments if i didnt pay 50% of my balance off. that paying min 50% was the only way out of my contract. i read enough online that i knew none of this was true. Please, do not ever believe the lies or let them scare you into changing your mind. you can resign later, but u cant always rescind.
