is it worth not honoring (stop paying) TS contract after rescind period is over? (2013)

[theo]

We wrote the cancellation letter, sent it registered mail ( we were able to do that via a website). I'm just hoping that we jumped through the correct hoops to really cancel it. Any suggestions?

Frankly, I would send signed, hard copy rescission correspondence all over again by USPS certified mail and obtain a date stamped receipt at the USPS counter (assuming that you are still within the rescission period at all).

I absolutely would not rely upon that Internet mechanism / process / electronic signature on a matter of such importance.
If you miss the rescission postmark date deadline for any reason, or if an electronically submitted signature is not accepted as valid, you will be a legal owner of record, like it or not. It's your decision, but I definitely would not take that risk.

 

[theo]

THe website is onlinecertifiedmail.com. It says the letter will be postmarked tomorrow and we have a tracking number. Do you think this is sufficient?

Do you really want to stake the validity of a timely and properly submitted rescission on a Internet message from a third party (non-USPS) entity, providing no documentary proof of the actual postmark date-to-be, after you've relayed only electronic signatures? That's entirely your prerogative, but I certainly would not do any of that.

It may be "belt and suspenders", but I would frankly submit your rescission all over again, immediately and from start to finish, with real ink signatures of all who signed the original contract, sent by certified (not registered) U.S. Mail and obtaining a hard copy, date stamped receipt of postmark date. Anything short of that effort has inherent risks with potentially undesirable consequences if the recipient determines or asserts that you have not met the specified requirements for a proper and timely submitted rescission --- now you have a battle on your hands. Why risk that possibility over a few dollars in postage?

 

[T_R_Oglodyte]

Frankly, I would send signed, hard copy rescission correspondence all over again by USPS certified mail and obtain a date stamped receipt at the USPS counter (assuming that you are still within the rescission period at all).

FWIW - you do not have to go to the counter at a post office to send a certified letter. If the post office has an electronic machine for handling mail, you can send a certified letter using the machine. (Follow the instructions on the screen.) When you are done with the transaction, the machine will generate a receipt that is proof of mailing and that has the tracking number on it.

A nice advantage of the machines is that they are available 24 hours per day.

 

[VacationForever]

Why take a chance through a third party website, with much to lose?

 

[lorilorilori]

One other question: The contract states that we have 5 business days counted from the business day following the contracts signing to cancel the contract. We are going to do what you guys suggested and send the cancellation again once we get back to the states which would be the saturday following the signing on tuesday. I am thinking that the 5 business days give us until next tuesday to have it postmarked. In which case us getting this out on monday, the 4th business day after the signing would be within the parameters of the contract. Do you see it this way?

 

[theo]

One other question: The contract states that we have 5 business days counted from the business day following the contracts signing to cancel the contract. We are going to do what you guys suggested and send the cancellation again once we get back to the states which would be the saturday following the signing on tuesday. I am thinking that the 5 business days give us until next tuesday to have it postmarked. In which case us getting this out on monday, the 4th business day after the signing would be within the parameters of the contract. Do you see it this way?

I was not aware that your purchase was in another country; that relevant detail was not previously disclosed.
In the U.S., contract rescission periods (and business vs. calendar days) is addressed within each individual state's law.

I would be inclined to agree with your interpretation, but certainly am not rendering a legal opinion --- I don't even know what country you are in now (Mexico maybe?), or how they legally define "business days". Just do it as soon as you can (...btw, you could also take care of this in person, "off Net" while still right there, wherever "right there" may be).

 

[T_R_Oglodyte]

Is certified mail even available for deliveries outside the US? If the letter is no longer in USPS hands, how could USPS track delivery?

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What is the specific language in your contract regarding cancellation? Does it say post-marked within five business days? If it doesn't say postmarked or mailed, the developer might say that since they didn't receive the cancellation within five business days, the cancellation period is over.

If you are still at the resort, I would go to the sales office and deliver the cancellation in person. If you're there as a couple, maybe have one of you take a time-stamped picture or video of the other person delivering the notice.

Or send it via fax, and retain the fax printout. I would use a business office fax service that provides a receipt, because the receipt will show the number it was sent to, that the transmission was successful, and the date and time.

 

[Garcia7]

I'd say you have a pretty good grasp of the consequences. Being turned over to collection, getting calls at all hours, having your credit take a hit, possible inability to buy a house or car- or at least without paying exorbitant rates.

Why didn't you rescind when you could? The law was on your side for 3-10 or more days. Many here have bought from the developers. Most chalked it up to a bad judgement. Saw that even though they found out like you did that better deals exist, the value they saw when they bought is still there. Pay it off, hang around TUG. Learn to get the best use of what you bought. Don't buy retail again.

Best wishes.

Welcome to TUG.

Is this for all timeshares?