[ 2020 ] What happens once we submit Rescission Letter to Diamond Resorts?

[Stephanie73]

My mom is already a DRI owner and last weekend at a sales presentation she got talked into buying more points to solve a problem that points don't solve. (Topic for another thread...)
I have found this forum to be so valuable in helping understand how to get her out of this situation, so THANK YOU to everyone who posts on here regularly!!!

She has sent the Rescission form and letter to DRI via certified mail, as well as faxing it. She sent it well within the timeframe, 2 days after she signed papers. She also called her credit card company and disputed the charge in the same timeframe.
She received an email confirming receipt of her rescission letter (including a request not to dispute the CC charge). She also received a voicemail from DRI saying they needed to confirm some information in order to process the rescission request.

My question is: what can we expect to happen next, and in what timeframe?
If there are people on here who've successfully gotten out of the purchase, can you do it without returning any phone calls? I REALLY don't want my mom on the phone with these people, I fear it will result in a reversal of her cancellation, but she is extremely nervous about just sending a letter and not doing anything else.
Any insight into what happens next would be much appreciated. Thank you.

 

[TheTimeTraveler]

My mom is already a DRI owner and last weekend at a sales presentation she got talked into buying more points to solve a problem that points don't solve. (Topic for another thread...)
I have found this forum to be so valuable in helping understand how to get her out of this situation, so THANK YOU to everyone who posts on here regularly!!!

She has sent the Rescission form and letter to DRI via certified mail, as well as faxing it. She sent it well within the timeframe, 2 days after she signed papers. She also called her credit card company and disputed the charge in the same timeframe.
She received an email confirming receipt of her rescission letter (including a request not to dispute the CC charge). She also received a voicemail from DRI saying they needed to confirm some information in order to process the rescission request.

My question is: what can we expect to happen next, and in what timeframe?
If there are people on here who've successfully gotten out of the purchase, can you do it without returning any phone calls? I REALLY don't want my mom on the phone with these people, I fear it will result in a reversal of her cancellation, but she is extremely nervous about just sending a letter and not doing anything else.
Any insight into what happens next would be much appreciated. Thank you.

Your mother will receive her refund within 45 days, and sometimes sooner.

There is NO reason for her to accept any phone calls; it is usually another sales ploy!

Tell her to sit back, relax, and congratulate her for sending in her rescission paperwork.

Now she can go celebrate




.

 

[LannyPC]

My mom is already a DRI ...
She also received a voicemail from DRI saying they needed to confirm some information in order to process the rescission request.

My question is: what can we expect to happen next and in what time frame?

This is a common ploy when rescission letters are received. The sales people try to get the buyer to reverse the decision to rescind. She does not need to call them back.

By the way, since she is already an owner, what happens next is that everything goes back to the way they were before she signed the papers, to her original ownership. Some people mistakenly thing that, if they are already owners, they sign and buy the new update, then rescind, that that will cancel their original ownership. No, it does not work that way.

 

[Stephanie73]

Your mother will receive her refund within 45 days, and sometimes sooner.

There is NO reason for her to accept any phone calls; it is usually another sales ploy!

Tell her to sit back, relax, and congratulate her for sending in her rescission paperwork.

Now she can go celebrate




.

Good news, thank you for the reassurance!

 

[Stephanie73]

This is a common ploy when rescission letters are received. The sales people try to get the buyer to reverse the decision to rescind. She does not need to call them back.

By the way, since she is already an owner, what happens next is that everything goes back to the way they were before she signed the papers, to her original ownership. Some people mistakenly thing that, if they are already owners, they sign and buy the new update, then rescind, that that will cancel their original ownership. No, it does not work that way.

Yes, after we finish this rescission process, we will likely move onto the process of getting her out of the original ownership. I imagine I'll be spending some more time on this forum sorting out the best way for her to get rid of her timeshare! She didn't want it in the first place, her ex-husband "gifted" it to her in their divorce and she's been paying ridiculous maintenance fees on it ever since. I hadn't realized all this until this whole situation surfaced. Arrgghh!
Thanks for your comments!

 

[LannyPC]

I imagine I'll be spending some more time on this forum sorting out the best way for her to get rid of her timeshare!

Well this is definitely the best place to come for advice and info on how to accomplish this.

 

[Grammarhero]

My mom is already a DRI owner and last weekend at a sales presentation she got talked into buying more points to solve a problem that points don't solve. (Topic for another thread...)
I have found this forum to be so valuable in helping understand how to get her out of this situation, so THANK YOU to everyone who posts on here regularly!!!

She has sent the Rescission form and letter to DRI via certified mail, as well as faxing it. She sent it well within the timeframe, 2 days after she signed papers. She also called her credit card company and disputed the charge in the same timeframe.
She received an email confirming receipt of her rescission letter (including a request not to dispute the CC charge). She also received a voicemail from DRI saying they needed to confirm some information in order to process the rescission request.

My question is: what can we expect to happen next, and in what timeframe?
If there are people on here who've successfully gotten out of the purchase, can you do it without returning any phone calls? I REALLY don't want my mom on the phone with these people, I fear it will result in a reversal of her cancellation, but she is extremely nervous about just sending a letter and not doing anything else.
Any insight into what happens next would be much appreciated. Thank you.

No need to do anything but wait. To track how much TS owners saved on TUG, mind sharing how much you saved with rescission? As half of tuggers initially bought developer/retail TS, there is no shaming.

 

[Grammarhero]

Yes, after we finish this rescission process, we will likely move onto the process of getting her out of the original ownership. I imagine I'll be spending some more time on this forum sorting out the best way for her to get rid of her timeshare! She didn't want it in the first place, her ex-husband "gifted" it to her in their divorce and she's been paying ridiculous maintenance fees on it ever since. I hadn't realized all this until this whole situation surfaced. Arrgghh!
Thanks for your comments!

Tru Diamond Transitions. It costs $1000 but she will be done with Diamond forever.

 

[Stephanie73]

No need to do anything but wait. To track how much TS owners saved on TUG, mind sharing how much you saved with rescission? As half of tuggers initially bought developer/retail TS, there is no shaming.

Don't mind sharing at all, especially as a cautionary tale. They sold her 3000 more points to get from Standard level to Silver level for $25K. My mom gave her credit card over for a down payment of $7K (which we're attempting to get reversed through rescission process) and signed loan paperwork for another $18K (at 15% interest rate!!!!). That $25K she was quoted would have actually cost her almost $45K over the life of the loan with that interest rate. So, depending how you look at it, executing the rescission saved her $25K-45K.

 

[Stephanie73]

Tru Diamond Transitions. It costs $1000 but she will be done with Diamond forever.

I haven't been able to review her account yet, but she thinks she only has points, not a deed. And based on what I've read here you have to have a deeded property to qualify for Transitions program. Do I have that right? Is there anything to be done if her account is points only? Obviously I'm just starting to dig into all this...

 

[Grammarhero]

Don't mind sharing at all, especially as a cautionary tale. They sold her 3000 more points to get from Standard level to Silver level for $25K. My mom gave her credit card over for a down payment of $7K (which we're attempting to get reversed through rescission process) and signed loan paperwork for another $18K (at 15% interest rate!!!!). That $25K she was quoted would have actually cost her almost $45K over the life of the loan with that interest rate. So, depending how you look at it, executing the rescission saved her $25K-45K.

She can give back her Standard level back to Diamond for $1k. I uploaded some guidelines and contact info.

 

[Grammarhero]

I haven't been able to review her account yet, but she thinks she only has points, not a deed. And based on what I've read here you have to have a deeded property to qualify for Transitions program. Do I have that right? Is there anything to be done if her account is points only? Obviously I'm just starting to dig into all this...

I think points are in the US collection, so it should qualify. https://www.diamondresorts.com/tran...4I_tljfF7EZUg3oFJh9hd0rDspk7LnWBoCRaoQAvD_BwE

 

[DesireMore]

I actually have a good friend who works in contracts for Diamond. Just send the letter to the rescission department in Las Vegas, and they're required by law to honor it. If you contact anyone in the "quality assurance" or sales department, they'll try to talk you into keeping it..

 

[timesharessuck23]

I actually have a good friend who works in contracts for Diamond. Just send the letter to the rescission department in Las Vegas, and they're required by law to honor it. If you contact anyone in the "quality assurance" or sales department, they'll try to talk you into keeping it..

Hi, do you happen to the fax number of the rescission department? Thank you

 

[GT75]

do you happen to the fax number of the rescission department?

You need to follow EXACTLY the method(s) stated in your paperwork.

 

[gpatrick1122]

I actually have a good friend who works in contracts for Diamond. Just send the letter to the rescission department in Las Vegas, and they're required by law to honor it. If you contact anyone in the "quality assurance" or sales department, they'll try to talk you into keeping it..

Do you have the FAX number for the Rescissions Department? I would like to confirm my rescission via fax. I did send it in via certified mail. Thank You!

 

[TheTimeTraveler]

Do you have the FAX number for the Rescissions Department? I would like to confirm my rescission via fax. I did send it in via certified mail. Thank You!

Your tracking number on your USPS Certified Mail confirms that it was delivered. No need to fax anything (even though it may make you feel better).

Sit back, relax, and allow up to 45 days for a refund.






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