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We rescinded -- now what?

B

B5Flyer

TUG Member
Joined
Nov 26, 2008
Messages
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0
Location
Wisconsin
We rescinded our Luganamar, purchased 20 Nov on 28 Nov, within the 10 day window.

Thus far we have heard/received nothing, and the charge to our credit card has not been reversed.http://www.tugbbs.com/forums/images/smilies/annoyed.gif

BTW, we rescinded after coming to TUG. You guys saved us $$$$. We intend to buy a trader and a mandatory, but without your valuable info and insights, we would have had to buy another Developer to retro/requalify the mandatory.

Perhaps you can let us know what to expect next?
 
If you rescinded the way the contract stated, you're fine! I do believe it takes a certain amount of time (not long) for your credit card to be refunded. I'm so glad you found TUG in time!
 
Zac495 said:
If you rescinded the way the contract stated, you're fine! I do believe it takes a certain amount of time (not long) for your credit card to be refunded. I'm so glad you found TUG in time!
Click to expand...

Starwood is a reliable company, if you rescinded in time, they will send you your money back. Give them a little time.

Congrats on finding us in time to save yourself (what?? ) $10,000 - $25,000 . :cheer:
 
Similar story

Just been through the exact same process. Followed the Tugs guide to recission and cancelled our purchase at the Lagunamar. Here's our timeline, which may help to reassure you.
We bought on Nov 18th, knowing nothing about timeshares. Got home, found Tugs and realized that timeshares are good but we had paid way over the odds. Sent recission fax and letter on Nov 24th (received 25th). Polite phone call from sales rep Nov 24th. Visa credited with full balance Dec 8th.
I called Starwood Vacation Ownership (documents administration) in Orlando (407 903-4635) in the meantime. The helpful clerk told me that the refund would be credited within 20 day.
Kudos to Starwood; they have been classy about refunding my money.

Great thanks to Tugs; I've now bought a Marriott resale timeshare for $25000 less (although I don't get any Star Options or the points bonuses) and my maintenance fees are half of those for the Lagunamar. Looks like a great resort though.
 
Did you send a copy of all the pertinent information to your credit card company?

hus far we have heard/received nothing, and the charge to our credit card has not been reversed.http://www.tugbbs.com/forums/images/smilies/annoyed.gif
Click to expand...

BTW - to put a smilie in your text, first click on the location in the text where you want the smile, and then just click on the icon for the smilie - it will automatically insert the smile when you click "send reply."
 
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Congrats on rescinding! :)
 
Congrats - and I would not worry about the funds - SVO gots ours funds back to our credit card in about 2 weeks.
 
B5Flyer said:
We rescinded our Luganamar, purchased 20 Nov on 28 Nov, within the 10 day window.

Thus far we have heard/received nothing, and the charge to our credit card has not been reversed.http://www.tugbbs.com/forums/images/smilies/annoyed.gif

BTW, we rescinded after coming to TUG. You guys saved us $$$$. We intend to buy a trader and a mandatory, but without your valuable info and insights, we would have had to buy another Developer to retro/requalify the mandatory.

Perhaps you can let us know what to expect next?
Click to expand...

Starwood will definitely refund your money. When you get your deposit back (what did you pay? - 10%?), buy resale if you are still interested in the concept.

If you are after StarOptions, there are 5 resorts that you can purchase on resale....

Sheraton Vistana Villages
Westin Kierland Villas
Westin Ka'anapali Ocean Resort
Harborside Resort
Westin St. John

The resorts are listed in order of pricing - Vistana Villages and Kierland are going to be your best buys.

Happy Vacationing!
 
James1975NY said:
If you are after StarOptions, there are 5 resorts that you can purchase on resale....

Sheraton Vistana Villages
Westin Kierland Villas
Westin Ka'anapali Ocean Resort
Harborside Resort
Westin St. John

The resorts are listed in order of pricing - Vistana Villages and Kierland are going to be your best buys.

Happy Vacationing!
Click to expand...

There is a comparison of these resorts - maintenance fee vs. Staroptions in Owner Resources at the top of the page under the heading "Buying and Selling." Kierland has the lowest maintenance fees of the mandatory resorts.
 
Thank you so much TNB for sharing your experience and timeline. I did not get the call back, but that's OK!
And I really appreciate the phone number. I'll follow up on that.
 
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DeniseM said:
Did you send a copy of all the pertinent information to your credit card company?
Click to expand...
I'll wait untill I get the statement, and contest the charge it it is still there.

DeniseM said:
BTW - to put a smilie in your text, first click on the location in the text where you want the smile, and then just click on the icon for the smilie - it will automatically insert the smile when you click "send reply."
Click to expand...

Thanks Denise! :clap:
 
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James1975NY said:
Starwood will definitely refund your money. When you get your deposit back (what did you pay? - 10%?), buy resale if you are still interested in the concept.

If you are after StarOptions, there are 5 resorts that you can purchase on resale....

Sheraton Vistana Villages
Westin Kierland Villas
Westin Ka'anapali Ocean Resort
Harborside Resort
Westin St. John

The resorts are listed in order of pricing - Vistana Villages and Kierland are going to be your best buys.

Happy Vacationing!
Click to expand...

We are interested in StarOptions, which is why we'll buy a Mandatory. Thank you for the list.
 
Not all SVV is mandatory: just Key West and Bella! So ask the seller before you buy! :)

Katherine
 
B5Flyer said:
We are interested in StarOptions, which is why we'll buy a Mandatory. Thank you for the list.
Click to expand...

While we also like StarOptions - and own Mandatory. From what I have read here - Voluntary resorts have some advantages/values worth considering - e.g. cost, II usage, and retro value - that may (or may not) be worth considering.

good luck
 
Follow up

DavidnRobin said:
Congrats - and I would not worry about the funds - SVO gots ours funds back to our credit card in about 2 weeks.
Click to expand...
I checked my credit card this morning and saw thatStarwood indeed refunded our money -- 12 days after they received our letter.

I guess we get to keep all the promo material (and the hats), which is good, so we can really study the program before we make a future purchase

Once again, I can't thank all of you enough.:whoopie:
 
B5Flyer said:
Once again, I can't thank all of you enough.:whoopie:
Click to expand...

I'm so glad it worked out for you. Good luck looking on the resale market. If I had to do it all over again, I'd buy a center OF at WKORV, for what that's worth.
 
You were given 10-day rescission? I bought my timeshare (regretably) on Dec 7th and was given a 5-day period, in addition to being verbally promised a 30-day full refund rescission. I've sent and faxed my rescission letter and hope to hear back or follow-up soon.
 
kerfuffly - Welcome to TUG! :hi:

The rescission period is determined by local law and cannot be changed by the resort - in Mexico it's 10 days. Verbal promises are not valid. Sales people in Mexico are infamous for trying to get the buyer to verbally agree to other terms - which is not legal.

Please see this article for all the info. about rescinding from a Starwood contract.

Please let us know how it goes!
 
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kerfuffly said:
You were given 10-day rescission? I bought my timeshare (regretably) on Dec 7th and was given a 5-day period, in addition to being verbally promised a 30-day full refund rescission. I've sent and faxed my rescission letter and hope to hear back or follow-up soon.
Click to expand...

If this was SVO resort - it was likely not 5 days - more like 7-10. Check the paper work you were given - it will be there. Nothing that was said verbally will hold up (this was a clause that was signed in your docs). If this is not SVO - you are on the wrong forum.

If paid by credit card - you can try contacting them - handle quickly.
 
Thank you for the welcome :)
My contract did state 5-day rescission period without penalty. I pored over the agreement and unfortunately, it was the only page that I glaced over. It wasn't until I spoke to the Cancellation dept that I knew it was 5... went back to the contract and found the quote on pg 9. Sigh... I'll keep you folks posted. Thanks for the link as well.
 
DavidnRobin,
Yes, it's the SVO at Lagunamar... lovely place, dazzling. I'm planning to call the Cancellation on Tuesday to follow-up on status of cancellation. Once I get some rescission confirmation, I will dispute the charge with my CC company.

Folks, thanks for responding. This forum is encouraging, and it lets me know that I'm not alone in this challenge.
 
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