Sticky - Know Your Rights Of Rescission Before Attending A Mexican Timeshare Presentation

[Karen G]

Does anybody have any suggestions or advice on what to do?

Rescind while you still have the opportunity. Once the rescission period has passed, you won't have this chance again.

If you have any questions at all on what you bought, rescind and do some more research. The deal will always be there no matter what the salesman wants you to believe.

They have already demonstrated they aren't playing straight with you with their offer to buy your old timeshare which was expired. Of course they were inflating the price to make you think you were getting a bargain. What else are they misleading you about?

Do yourself a big favor and get out while you can.

 

[Tbone47]

I haven't changed my mind. I rescinded well within the five day period, but I didn't get a response till it past. They want to talk to me on the phone and will, but i have made no mention of reason for rescinding or desire to negotiate.

I am just concerned they might look for a reason to stall refunding my money. I will be patient and courteous and hope they don't violate the contract.

From what I have read online, they havent reniged on a fair recscind within the five day period.

Let't us see. I'll keep you posted.

 

[Karen G]

I haven't changed my mind. I rescinded well within the five day period, but I didn't get a response till it past. They want to talk to me on the phone and will, but i have made no mention of reason for rescinding or desire to negotiate.

Nothing good will come from any further conversations with the sales staff. They will try their hardest to get you to change your mind. Don't talk to them. The only date that matters is the date you sent your rescission, not when they got it. Save yourself more intimidation and hassle by waiting quietly for your refund.

 

[behopeful]

I need to rescind urgently ...who do I call ? There is too much info to read and I really need to get this done .


Thank you

 

[Karen G]

I need to rescind urgently ...who do I call ? There is too much info to read and I really need to get this done .


Thank you

What did you buy?

Rescission is done in writing by mail usually. Calling doesn't get it done. Write a letter simply stating that you and whoever else may have signed the purchase contract wish to exercise your right of rescission. Send it by certified mail so that you have a receipt from the post office showing the date you mailed it. That is the critical part. You have five business days to rescind in Mexico.

 

[Karen G]

You were given excellent advice in this thread in post #6 from passepartout. Follow it!

 

[behopeful]

Thank you ...for all the help . I have started the procedure. if there are people in this world who are there to rip off the hard earned money , there are people like you who save them from the bad too ...


keep up the good work !

 

[Karen G]

Thank you ...for all the help . I have started the procedure. if there are people in this world who are there to rip off the hard earned money , there are people like you who save them from the bad too ...


keep up the good work !

thanks! Glad you found us in time. Let us know what happens.

 

[Karen G]

Just want to ask...
Is there any form for cancellation?
Or a letter will do?

Just a simple letter something like this:

We are rescinding our contract dated ___________.

Be sure everyone who signed the contract signs the rescission letter. You could even include a copy of the page of the contract that you signed.

Just do it!

 

[Passepartout]

Never mind.

 

[parkbr]

Regarding 14 day Credit Card Cancellation Policy

Hello,

First of all, I thank everyone here who helped me throughout the process.

I was able to rescind after 5 day cooling period with help of the resort and the credit card company. We sent rescission letter on the 7th business day and the resort tried to downgrade our membership twice (2nd time with a better offer) before they offered the cancellation with some fees for an upgrade, which we took.

The whole process took about a month, and I have learnt a lot and I would like to share that with others.

Credit card (Mastercard and VISA) does have 14 day cancellation policy.
This rule, I was told by CC company, is something that resorts agreed when they become a merchant of the credit card company and clearly states under their chargeback guide. There is very slim way out for the merchant if the cardholder cancels within 14 days (this is calendar days) and followed all the process and the merchant cannot provide otherwise. So most of the resorts are very well aware of this policy. One of the user told me that "based solely on your credit card agreement, you unilaterally decided to cancel", this is NOT the case. This is the agreement between the merchant and the credit card company and I, as a card holder, was exercising the options that I have. This rule is international rule that applies regardless of the location. From what we have researched, chargeback hurts merchants reputation and even if they win the chargeback, they have to pay certain amount. If they have too many chargebacks, they might lose a deal with creditcard company. However, keep in mind that chargeback does not 100% guarantee your money back and takes about 2-3 months and credit card chargeback dispute do not break the contract legally. So that is the tricky part.

So in order to be out of the contract legally, you need to have a cancellation/settlement document signed by both parties. (I am not sure if you rescind within 5 days. I believe you're safe in that case.)

We have consulted the lawyer anyways and was told that it is very unlikely that they will chase after us and sue us so that we are tied to the contract even if we go through chargeback method. That is because it is not that much of money and hiring a lawyer would cost more money. He said, most likely, they'd rather spend time with a new couple who is willing to sign up for their membership, than deal with us. lol.

However, we wanted to be legally out and be safe. So we chose to pay, even though we felt the upgrade was over-priced. We will consider that as a life-time lesson fee.

I guess we were very lucky in a sense that the resort was helpful and willing to cancel. I am thinking it maybe because of the Credit Card policy that they are well aware of, or simply because they are nice. We'd like to believe that it is both.

Anyways, thank you and good luck to everyone.

 

[Karen G]

Hello,

First of all, I thank everyone here who helped me throughout the process.

I was able to rescind after 5 day cooling period with help of the resort and the credit card company. We sent rescission letter on the 7th business day and the resort tried to downgrade our membership twice (2nd time with a better offer) before they offered the cancellation with some fees for an upgrade, which we took.

The whole process took about a month, and I have learnt a lot and I would like to share that with others.

Credit card (Mastercard and VISA) does have 14 day cancellation policy.
This rule, I was told by CC company, is something that resorts agreed when they become a merchant of the credit card.

Thanks so much for sharing your experience. So glad you were able to rescind your contract.

 

[kottonmindless]

Does the 5 days cancellation period also work for contract upgrade for additional points?

 

[Passepartout]

Does the 5 days cancellation period also work for contract upgrade for additional points?

Probably. It should apply to ALL timeshare purchase contracts. What does it say in your contract? Have you contacted Profeco? What resort? Does it include 'trading in' other timeshare ownership(s) you own?

You ask a question that is far too simple.

Jim

 

[FloridaGuy]

Hello, I cancelled within 2 days, however they say I purchased 5000 bonus points and massages as "gifts" . The 5000 points are listed in the cancelled contract, the massages are not. They also did not include the this wavier in my paperwork, and have requested the document. I think they purposely left it out of my paperwork. A profeco complaint has been filed, and my credit card company has it in dispute. As far as I know Article 56 says cancel "with NO Liability, whatsover...Is this correct?

 

[Karen G]

As far as I know Article 56 says cancel "with NO Liability, whatsover...Is this correct?

Rescission means that the contract is cancelled & both parties are put back in the same position as they were before the contract was made. So you should get all your money back with no further liability. Were the massages a gift you were offered to entice you to attend the sales presentation? If so you shouldn't have to pay for them as you fulfilled your obligation by sitting through the presentation.

 

[FloridaGuy]

No, the massages were extra...the gift offered for the presentation was a dinner on the beach, which we received. They say we signed a separate paper for the 5000 points and massages, if we cancelled, sorta like a penalty agreement. It was the only paper they did NOT make a copy of for us..I can find the 5000 bonus points in the contract but not the massages. I read on the board that the credit card company has a 14 day cancel period and this is international too? The CC company is currently working on my dispute and has the same package I sent Profeco. I cancelled in 2 days so does the CC policy apply too? Thank you so much for your info!

 

[Karen G]

Let us know what happens. Hopefully between Profeco & your credit card you'll be fine & you'll get your money back. Did you already receive the massages? If they referred to them as being a gift what are they charging you for?

 

[FloridaGuy]

Excactly Karen, They say they pay for these gifts and need to be reimbursed. I have stopped talking to the resort salespeople, its a broken record..I just have to drive home the NO liability whatsoever phrase in article 56..this could be awhile...

 

[tschwa2]

Did you actually receive the messages or do you just have a voucher for them? My understanding is any gift or upgrade that you receive in relation to the purchase that you can't (because you used it) or won't return- let's say you are in a 1 br but as soon as you purchase they upgrade you to the 3 br penthouse suite, they can ask for reimbursement for the days you actually stayed in the upgraded room. Similarly if you are given an IPad as a gift with purchase (not gift for attending presentation) then they can charge you for it if you do not return it. So if you received a $300 spa package and used it before you rescinded, I think you can be held responsible for that.

 

[FloridaGuy]

We used 2 massages and I understand and will be responsible, however they are trying to say I need to purchase the 5000 bonus points..The 5000 bonus points are listed in the contract too. No one has used 5000 points.

 

[dioxide45]

If the 5000 points are in the contract, they are subject to rescission. Ask them to provide this additional piece of paper they say they have regarding the 5000 points? I suspect they won't have it. What property was this?

 

[FloridaGuy]

I called their main office and requested the paper, the guy said 2 days for my email of all documents. The vacation club was Fiesta American Vacation Club. It was located at Live Aqua Cancun. I love the resort, just sorry I got involved with this Club.

 

[FloridaGuy]

Well, just to follow on the board, did not send me this piece of paper we signed about the 5000 points...shocker...they only sent the first pages of the contract. I asked again..will see what they do. They call it a "activation" letter, I call it a penalty for cancelling waiver. I had read that this is illegal? I remember this piece of paper but they intentionally left it out of my package? Perhaps to use against me?

 

[dioxide45]

Tell them that you want to cancel that additional "contract" you signed. Same rules should apply.