How to cancel or terminate contract of marriot vacation club destination program after 10 days

[shashi19]

Hi all,
recently i hav become the owner(as they say) of marriott vacation club destination program in that i hav purchased 1500 points...after reading on several forum i hav come to know dat i hav made very bad deal...my 10 days for cancelling contract is over...how should i cancel this contract...please help

 

[Aurelius]

If you’re past your recision period you can’t cancel the contract. Your options are to learn how to use it, pay off the loan and sell/give it away, or default on the loan and allow it to be foreclosed on (lose anything you’ve paid thus far and credit impacted).

Whatever you do don’t give money to any timeshare cancellation companies. They won’t be able to do anything for you except take your money.

 

[echino]

You cannot cancel past rescission period. While paying retail is a bad deal and you overpaid, the Marriott Vacation Club is actually one of the best timeshare systems. Learn to use it. 1,500 points is not that many, but if you find you are short for any particular reservation, you can always rent points from other owners, at about $0.60-$0.65 per point.

 

[TheTimeTraveler]

Hi all,
recently i hav become the owner(as they say) of marriott vacation club destination program in that i hav purchased 1500 points...after reading on several forum i hav come to know dat i hav made very bad deal...my 10 days for cancelling contract is over...how should i cancel this contract...please help

Congratulations on your newly acquired purchase. The good or bad news is that you own it, and the really bad news is that you're likely stuck with it until you unload to someone else AFTER being 100% paid off.

So now that your have it you want to be 100% sure that you are making the very best use of it. Take a look at www.vacationpointexchange.com

Doing so will allow you one of two things; Rent additional points and take an awesome vacation, OR rent your points each year and help you cover your loan expenses. The going rate for rental points appear to be running about 60 to 65 cents per point.


Welcome to the TUG forum






.

 

[Passepartout]

Hi all,
recently i hav become the owner(as they say) of marriott vacation club destination program in that i hav purchased 1500 points...after reading on several forum i hav come to know dat i hav made very bad deal...my 10 days for cancelling contract is over...how should i cancel this contract...please help

shashi19, Congratulations! You are now a timeshare owner! Marriott won't cancel the contract after the legally allowable 'cooling off' time period. You are in good company here. At least half (and in Marriott, I suspect a lot more) of us bought our first timeshare just like you did. From the developer, at retail and we didn't rescind. The good news is that there is an active Marriott group of owners here who help each other get the most out of a great system, and use of really top-of-the-line resorts. You saw value in the product when it was shown to you. While some of the details may have been exaggerated, there is good value there. Stick around. Spend some time snooping around the Marriott Forum, and WELCOME!

Jim

 

[shashi19]

thank you guys for reply...there is exit membership program...do you know how does it work?

 

[shashi19]

Congratulations on your newly acquired purchase. The good or bad news is that you own it, and the really bad news is that you're likely stuck with it until you unload to someone else AFTER being 100% paid off.

So now that your have it you want to be 100% sure that you are making the very best use of it. Take a look at www.vacationpointexchange.com

Doing so will allow you one of two things; Rent additional points and take an awesome vacation, OR rent your points each year and help you cover your loan expenses. The going rate for rental points appear to be running about 60 to 65 cents per point.


Welcome to the TUG forum






.

what is unloading to someone else means??

 

[dioxide45]

thank you guys for reply...there is exit membership program...do you know how does it work?

Do you have a loan against the points? With points, you really don't need the exit program because they have some value. Not nearly as much as you paid, perhaps $2-$4 per point, but you can sell them IF you don't own any money against them. So as long as you didn't finance the purchase, you can sell it but expect to lose a lot of money on the deal.

You are far better to figure learn how to get the most use out of it. You must have seen some value in the purchase in order to be willing to buy the points?

 

[TheTimeTraveler]

what is unloading to someone else means??

Selling your ownership, or giving away your ownership. Right now no one would touch it if there is an outstanding loan against it.





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[Passepartout]

thank you guys for reply...there is exit membership program...do you know how does it work?

Feel free to ask Marriott, but it's unlikely you can exit a membership that isn't paid in full. That's how other timeshare ownership exits work. The TS must be paid for, then the owner has to pay even more to surrender it to the parent company. NOW, beware! There are companies that promise to 'get you out' of your TS. Don't believe a word of it. They will take your money, maybe post an ad on some obscure website and when it doesn't sell, they'll charge you more and you'll still own it and be responsible for the cost and fees.

Really. At this point, your best option is to learn to use it and buckle down and pay it off. In the end you'll like it. Honest.

Jim

 

[DEScottzz]

We bought 2500 points at retail in our first purchase. We could see through the salesperson's pitch, but we still saw value in owning the points because it would discipline us to take vacations. We were never very good at that.

It took me a couple months to figure out we had paid too much. Subsequently, we bought more, but paid much less. We still like the points, and we can still use a little help pushing us to take the vacations we need and deserve.