Upgrading to cancel contract?

[Tia G.]

Good morning! Sadly I purchased points with Wyndham at the beginning of 2020 and was not aware of my right to cancel so I think I am stuck. However I recently attended an owner update where of course they tried to sell me more points to maintain VIP status. Long story short I declined of course because I now know the game but just had a thought this morning. If I purchase a new contract to upgrade my points am I still afforded that cancellation period? I am thinking if this is the case I am going to attend a meeting on my next vacation and upgrade just to cancel and rid myself of these monthly payments. Any insight is appreciated!

 

[geist1223]

In all likelihood you will only be able to cancel your new purchase.

 

[markb53]

Good morning! Sadly I purchased points with Wyndham at the beginning of 2020 and was not aware of my right to cancel so I think I am stuck. However I recently attended an owner update where of course they tried to sell me more points to maintain VIP status. Long story short I declined of course because I now know the game but just had a thought this morning. If I purchase a new contract to upgrade my points am I still afforded that cancellation period? I am thinking if this is the case I am going to attend a meeting on my next vacation and upgrade just to cancel and rid myself of these monthly payments. Any insight is appreciated!

Let’s say you bought a new contract tomorrow and they did an equity trade and you essentially traded in you old contract. Then, the day after tomorrow you canceled the newly purchased contract. Wyndham would simply put your old contract back in place just as if you never traded it in.

 

[HitchHiker71]

Good morning! Sadly I purchased points with Wyndham at the beginning of 2020 and was not aware of my right to cancel so I think I am stuck. However I recently attended an owner update where of course they tried to sell me more points to maintain VIP status. Long story short I declined of course because I now know the game but just had a thought this morning. If I purchase a new contract to upgrade my points am I still afforded that cancellation period? I am thinking if this is the case I am going to attend a meeting on my next vacation and upgrade just to cancel and rid myself of these monthly payments. Any insight is appreciated!

Taking this approach - you'll only be cancelling the newly signed contract - which will then revert your account back to the original contract. There's no "get out of jail free" card for you at this point - short of paying off any timeshare loan balance and then unloading your timeshare contract back via Certified Exit or selling via a third party. Unfortunately if you have a timeshare loan with Wyndham, there really aren't many options. I'd still recommend contacting Wyndham and at least inquiring about any available options you might have. If you don't have a timeshare loan - depending on what you own - Wyndham may take it back for no cost via Certified Exit - or you could sell via a third party agency. Many folks on here have sold contracts either direct or via a third party and can provide details on how to do this.

 

[nancypants]

Taking this approach - you'll only be cancelling the newly signed contract - which will then revert your account back to the original contract. There's no "get out of jail free" card for you at this point - short of paying off any timeshare loan balance and then unloading your timeshare contract back via Certified Exit or selling via a third party. Unfortunately if you have a timeshare loan with Wyndham, there really aren't many options. I'd still recommend contacting Wyndham and at least inquiring about any available options you might have. If you don't have a timeshare loan - depending on what you own - Wyndham may take it back for no cost via Certified Exit - or you could sell via a third party agency. Many folks on here have sold contracts either direct or via a third party and can provide details on how to do this.

Thank you so much for this information! I was wondering the same.

 

[nancypants]

So glad you asked this question as I was having buyers remorse. I upgraded this weekend and a got a much better deal but then I was in sticker shock lol

Good morning! Sadly I purchased points with Wyndham at the beginning of 2020 and was not aware of my right to cancel so I think I am stuck. However I recently attended an owner update where of course they tried to sell me more points to maintain VIP status. Long story short I declined of course because I now know the game but just had a thought this morning. If I purchase a new contract to upgrade my points am I still afforded that cancellation period? I am thinking if this is the case I am going to attend a meeting on my next vacation and upgrade just to cancel and rid myself of these monthly payments. Any insight is appreciated!

 

[Ty1on]

Good morning! Sadly I purchased points with Wyndham at the beginning of 2020 and was not aware of my right to cancel so I think I am stuck. However I recently attended an owner update where of course they tried to sell me more points to maintain VIP status. Long story short I declined of course because I now know the game but just had a thought this morning. If I purchase a new contract to upgrade my points am I still afforded that cancellation period? I am thinking if this is the case I am going to attend a meeting on my next vacation and upgrade just to cancel and rid myself of these monthly payments. Any insight is appreciated!

A rescission would return you to your status before you signed the contract you are rescinding, so your ownership in the original contract would be restored.