Sent rescission letter - what do I do now?

[thepen88]

Hello, Tug! Long story short, I purchased a HGVC timeshare for a Las Vegas property while I was staying at the NYC Hilton Midtown last week without really knowing what the product entailed and after reading up on posts posted in the Tug community, I realized I made a mistake and decided to rescind. I signed the contract on Saturday, November 30 and sent my rescission letter on Monday, December 2nd via USPS certified mail to the address listed in the rescission section of my contract (an Orlando office address). According to the contract, New York allows for 7 business days to rescind. According to my USPS tracking, my package was delivered to the office in Florida this morning, 12/5. However, I haven’t been contacted by HGVC rescission services team that they have received and/or in the process of processing my rescission. I’m worried they won’t process my paperwork in time, and I’ll be stuck with the purchase. Is there anyway I can verify the correct office/people received my paperwork and will cancel my contract?

I appreciate your help!

 

[dayooper]

Hello, Tug! Long story short, I purchased a HGVC timeshare for a Las Vegas property while I was staying at the NYC Hilton Midtown last week without really knowing what the product entailed and after reading up on posts posted in the Tug community, I realized I made a mistake and decided to rescind. I signed the contract on Saturday, November 30 and sent my rescission letter on Monday, December 2nd via USPS certified mail to the address listed in the rescission section of my contract (an Orlando office address). According to the contract, New York allows for 7 business days to rescind. According to my USPS tracking, my package was delivered to the office in Florida this morning, 12/5. However, I haven’t been contacted by HGVC rescission services team that they have received and/or in the process of processing my rescission. I’m worried they won’t process my paperwork in time, and I’ll be stuck with the purchase. Is there anyway I can verify the correct office/people received my paperwork and will cancel my contract?

I appreciate your help!

You purchased in Vegas so I believe it’s under Nevada law (5 days I believe). You still should be OK. HGV will honor your recession but are of no legal liability to keep you informed. They have 45 days to complete the process. They have been taking less time, though.

With the exception of their sales department, HGV is a fairly standup company and, as long as you followed the process, they will come through.

 

[TheTimeTraveler]

Hello, Tug! Long story short, I purchased a HGVC timeshare for a Las Vegas property while I was staying at the NYC Hilton Midtown last week without really knowing what the product entailed and after reading up on posts posted in the Tug community, I realized I made a mistake and decided to rescind. I signed the contract on Saturday, November 30 and sent my rescission letter on Monday, December 2nd via USPS certified mail to the address listed in the rescission section of my contract (an Orlando office address). According to the contract, New York allows for 7 business days to rescind. According to my USPS tracking, my package was delivered to the office in Florida this morning, 12/5. However, I haven’t been contacted by HGVC rescission services team that they have received and/or in the process of processing my rescission. I’m worried they won’t process my paperwork in time, and I’ll be stuck with the purchase. Is there anyway I can verify the correct office/people received my paperwork and will cancel my contract?

I appreciate your help!

It's the Postmark date that counts, nothing else. Monday, December 2 is the official date you rescinded so you are all set.

Sit back, relax, and allow up to 45 days. They WILL honor your rescission.










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[thepen88]

Thank for your responses @dayooper and @TheTimeTraveler! I’m hoping the rescission process will go smoothly for me.

Having reviewed other Tug posts, I know some received an email notifying them that their rescission was received, which is why I was wondering about an email confirmation. I also emailed different HGV emails I saw in different posts asking about rescission, but I have not received any responses from the Hilton team. I know they’re not legally obligated to notify me they are processing my rescission, but I wish there was a way to confirm with them to ease my mind.

I also saw in another post that someone called the Loan Services hotline at 800-472-6387, and they were able to confirm the possession of their rescission paperwork. I might try to do that tomorrow just to confirm. I’m a worrier by nature, so while I want to trust the process, I also want to be triple sure my cancellation will be approved.

I appreciate all of the information Tug members provide to help - it’s reassuring!

 

[GT75]

If you do get any calls from HGVC, it will be from your salesperson trying to save their sale (therefore, their commission. ) The only sure way to know that HGVC has handled the rescind (which they legally well) is when you receive your downpayment on your CC.

 

[Makana]

It's the Postmark date that counts, nothing else. Monday, December 2 is the official date you rescinded so you are all set.

Sit back, relax, and allow up to 45 days. They WILL honor your rescission.










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Where does it say they have 45 days? When does the 45-day period start?

My paperwork, said the monies from the transaction would be refunded within 20 days. It's past 20 days from the date they received my rescission letter which was sent within 5 days of the signing of the contract. I did receive confirmation of their receipt of my letter.

Thanks!

 

[TheTimeTraveler]

Where does it say they have 45 days? When does the 45-day period start?

My paperwork, said the monies from the transaction would be refunded within 20 days. It's past 20 days from the date they received my rescission letter which was sent within 5 days of the signing of the contract. I did receive confirmation of their receipt of my letter.

Thanks!

Simply sit back and relax. You know they have it and you know they will honor it by law.

Be patient with the US Mail system and the developer slowness.

Buy resale next time and you won't encounter any of these issues.










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[Passepartout]

Where does it say they have 45 days? When does the 45-day period start?

I did receive confirmation of their receipt of my letter.

Thanks!

The 45 days is not etched in stone-as far as we know. It really depends mostly on when -in YOUR billing cycle the refund gets posted to your account.

Having confirmation puts you ahead of what they are required to do. So, hard as it is, go celebrate. Hang the lights and stockings. Buy a nice gift for your spouse. Plan next Summer's vacation. Rejoice that it won't be at retail at some salesweasel's profit.

Relax!

Jim

 

[brp]

The 45 days is not etched in stone-as far as we know. It really depends mostly on when -in YOUR billing cycle the refund gets posted to your account.

I'm not sure3 I understand. Charges and credits to a credit card account are completely asynchronous to ones billing cycle. They are solely dependent upon the merchant and show up when they are posted, independent of the billing cycle. Unless I'm missing what you're saying here.

Cheers.

 

[Passepartout]

I'm not sure3 I understand. Charges and credits to a credit card account are completely asynchronous to ones billing cycle. They are solely dependent upon the merchant and show up when they are posted, independent of the billing cycle. Unless I'm missing what you're saying here.

Cheers.

It's entirely possible that you have a better understanding of credit card billing than I do, but what I described is the way the delay in being refunded was described to me.

 

[brp]

It's entirely possible that you have a better understanding of credit card billing than I do, but what I described is the way the delay in being refunded was described to me.

Ah, seems like timeshare folks trying to justify a delay on their side

I download stuff into Quicken on a daily basis, and things show up when they show up (based on merchant posting) and not related to the billing cycle. But, if they can tie things to a billing cycle (and they're not the only folks who try to explain their refunds in terms of the cardholder's billing cycle) they can take longer and make it seem like it's someone else.

Cheers.

 

[1Kflyerguy]

A lot of business quote the 45 day timeline for refunds, not just timeshares. I think it might be linked the old days when people mostly got their statements in the mail..

I also download my transactions into quicken, and have noticed some merchants charges show up almost immediately and others take a few days or even a week to post.

 

[Talent312]

My paperwork, said the monies from the transaction would be refunded within 20 days....

The 20-day period is derived from Florida Statutes, Section 721.06.
However, it can take a CC issuer additional time (a billing cycle) to post it.
Check with your CC issuer to see if it's pending. It may show it online.

 

[brp]

However, it can take a CC issuer additional time (a billing cycle) to post it.
Check with your CC issuer to see if it's pending. It may show it online.

I've not know of any credit card issuer to take this long, and to base any posting on billing cycles, in about a decade. This part seems unlikely.

Cheers.

 

[xxprophet]

Hello, Tug! Long story short, I purchased a HGVC timeshare for a Las Vegas property while I was staying at the NYC Hilton Midtown last week without really knowing what the product entailed and after reading up on posts posted in the Tug community, I realized I made a mistake and decided to rescind. I signed the contract on Saturday, November 30 and sent my rescission letter on Monday, December 2nd via USPS certified mail to the address listed in the rescission section of my contract (an Orlando office address). According to the contract, New York allows for 7 business days to rescind. According to my USPS tracking, my package was delivered to the office in Florida this morning, 12/5. However, I haven’t been contacted by HGVC rescission services team that they have received and/or in the process of processing my rescission. I’m worried they won’t process my paperwork in time, and I’ll be stuck with the purchase. Is there anyway I can verify the correct office/people received my paperwork and will cancel my contract?

I appreciate your help!

1st off timeshare companies try to deflect the truth and the rescission duration truth is that rescission/cancellation period is governed by the state where your timeshare is located and not where you applied for timeshare... Since your timeshare is located in Nevada, HGV was legally bound to provide the correct and accurate Rescission period which apparently, HGV didnot place in your contract being the rescission time for Nevada where timeshare is physically located. HGV misrepresented material facts of contract and thereby your contract is already invalid and rescindable based on HGV misrepresentation of material facts! I know this for HGV tried it with me on 11/16 with a cancellation duration based on my residence address in Texas and not Florida's state mandated recission period where timeshare is located. Look at your rescission period in contract and if it does not match the state mandated recission period where timeshare is located then contract is already invalid under the clause of misrepresentation by Timeshare company of material facts. I just had my contract cancelled for HGV's misrepresentation of correct and accurate recission period. 2ndly, don't worry about contact by HGV for they will try to deflect but as long as you have your receipt of mailing showing date mailed holds precedence.

Note To All: Misrepresentation by any timeshare company of false rescission period in contract vs physical timeshare location and state laws of timeshare location is grounds for recission and contract cancellation even if the recission period has passed. The timeshare misrepresented required/correct & accurate material facts. I know because I just had my timeshare contract cancelled/rescinded for this same violation by the HGV Hope this helps folks, this basis works even if your rescission period has passed. Any false data in contract by timeshare company invalidates entire contract and recission/cancellation accurate information is required to make the timeshare's physical state location looks to me that your contract contains similar false recission/cancellation duration by HGV

 

[xxprophet]

In my case Texas recission/cancellation period where I reside is (6) Days. Timeshare is located in Florida is (10) Days explicitly, so Florida State Laws govern recission/cancellation No exceptions. HGV tried to state my rescission period passed cause they tried to base my rescission period on my residence location of Texas but to NO AVAIL!!! Folks check your contracts!! HGV does this misrepresentation alot and again I say.... Even if your rescission period has past, this misrepresentation is total grounds for Rescinding/Canceling any TIMESHARE at any time with any timeshare company within I think (5) years of execution HGV did alot of scrambling and attempted justifications but to NO AVAIL!! GET OUT OF YOUR TIMESHARE EASY!!!