Cancellation Letter, What do You think?

[James_Bond007]

Hi All,
I'm new here, My Wife and I went to Wyndham Grand Cancun in late Feb/24, we went thru a presentation and eventually signed up for a small amount timeshare/membership ($4200US), we paid a deposit of $1080US, we are from Canada. We have had second thoughts on it now, and don't think we need or will be using it in the future, but we are past the cancellation date already. I've been researching on this site, and it seems like they won't really come after us if we don't pay (starting in June we are set to pay $140US/mth for 24 mths), it would be too much hassle for them to go after us for such a small amount compared to what others have invested, and it should affect my Credit Score either from what ppl have been saying, since I am here in Canada, and they are in Mexico, and we have no Deed, just an membership agreement and such...
So today I thought to send them a cancellation letter, here it is, please let me know what You think, Please and Thanks,, James

"
Hello,



We are writing to You to cancel our Contract with Caracol Club Vacational, S.A. DE C.V.Contract # Customers are James and Nordia .



The total amount of the Contract is for $4200 US, We have paid a deposit of $1090US, with a Balance owing of $3360.00 in return we get 1 week E Studio over a period of 3yrs starting Feb 24,2024, we have decided that this in not for Us, as well since the signing of the contract on Feb 24/24 some financial changes have happened for Us and it is now not in our intention or plan to use the Timeshare anytime in the near future.



We ask that this contract be Cancelled ASAP, and that a portion of the deposit be sent back to Us, we ask that out of the $1080US deposit that was paid, that only $850US of it be paid back to Us, the rest can be kept by Caracol Club Vacational as we did spend time with the Representative Diego Martinez and learned allot while with him…Please send said amount of $850US to the credit card used initially to make the deposit purchase, if that is not possible then send a cheque to our address that You have on file, we ask that You inform Us of when this is happening as soon as possible.



We have done our research on our options, since we do not possess a Deed to any property, and we have only purchased a “Membership” of sorts which entitles Us to some time at the Wyndham Grand Resort on a Year to Year basis, and since we have not used this service as of Yet, and no Service has been Given we think this is Fair, since our situation has changed and nothing has been lost or gained.



We ask that You respond to this ASAP so we may close this issue and move on with Life!



Thank You for Your time concerning this Matter!



James / Nordia

 

[dioxide45]

The second and fourth paragraphs are not necessary. You don't need to spell out the terms of the contract and you don't need to give a reason. I would also wipe out the third paragraph. You are entitled to a full refund. No need to offer them to keep some of your deposit because you feel guilty for cancelling.

 

[James_Bond007]

The second and fourth paragraphs are not necessary. You don't need to spell out the terms of the contract and you don't need to give a reason. I would also wipe out the third paragraph. You are entitled to a full refund. No need to offer them to keep some of your deposit because you feel guilty for cancelling.

Ok, thank You for Your Advice, much appreciated

 

[byeloe]

I think that it is unlikely that you will receive any refund since you are past the rescind date. I would cancel the credit card that is set up for future payments

 

[James_Bond007]

Ok, Thank You too Byeloe for Your advice too

I sent off the email and they have responded, they sent pics of the contract signed, reviewed what the contract is offering (funny thing is that they mentioned the "side benefits" of the package, access to Owners Link, Just book and asap weeks given to us, 1 dream week and 14 Caracol nights at Wyndham Grand Cancun, plus 4 nights at WGC free with AI, but nothing about the timeshare part which is as far as I can tell entitles us to 1 week for 3 yrs at a Estudio at WGC not including AI bracelets for all occupants), and that too get out of it we would have to pay another $1200US and not get any of the other money back, and of course if we don't pay that our credit score would be affected...

Yes I think the next option is too just cancel my current credit card (think of switching anyways to one that has some points attached to it) and let it go, since we have no deed and they are in Mexico and we in Canada...

 

[James_Bond007]

Hi All, I'm still nervous about not paying up and cancelling my CC, we don't have to start making payments till June, so there is some time, I like everyone else don't want any Credit score repercussions and hassles with collections and those sorts of issues...Plus if we don't pay, and we go back to Mexico can anything happen??

 

[TheTimeTraveler]

Hi All, I'm still nervous about not paying up and cancelling my CC, we don't have to start making payments till June, so there is some time, I like everyone else don't want any Credit score repercussions and hassles with collections and those sorts of issues...Plus if we don't pay, and we go back to Mexico can anything happen??

Are you cancelling or defaulting? If you're past the rescission period then I would call it a default.

I would think if they have your credit card information then they will continue to protect their income and make an attempt to collect. Keep in mind that you willingly signed the contract and did not rescind within the legally allowed timeframe. Had you done so then you wouldn't be having this conversation.

I doubt anything will happen if you default and decide to return to Mexico at some time in the future. Be sure to keep your hands in your pockets and do not sign any timeshare contracts.

Clearly not what you want to hear but it is what it is.







.

 

[James_Bond007]

Are you cancelling or defaulting? If you're past the rescission period then I would call it a default.

I would think if they have your credit card information then they will continue to protect their income and make an attempt to collect. Keep in mind that you willingly signed the contract and did not rescind within the legally allowed timeframe. Had you done so then you wouldn't be having this conversation.

I doubt anything will happen if you default and decide to return to Mexico at some time in the future. Be sure to keep your hands in your pockets and do not sign any timeshare contracts.

Clearly not what you want to hear but it is what it is.







.

Oh No Problem, I need to hear that more often lol. Actually feeling kinda foolish, I don't know what was in us to sign this things, we refused to sign the initial offers, then they sent this other guy that asked us questions about the person that showed us the set up and if he did things in a certain way, quality control they said, then he asked why we didn't want to sign, we said money/commitment, then he offered us this trial version of it, only $4200, with $1K down, so we thought what the heck! Later on my wife was having second thoughts, I should have listened to her then and just got out of it when there, but here we are...My main concern now is just by defaulting, how will that affect if at all my credit rating, like if they sell the debt to a collection agency up here in Canada, won't that show on my Credit report? Thanks for the advice TheTimeTraveler