Question regarding cancel timeshare membership” URGENT !!

[AnneJe]

Me and my husband purchased timeshare from HVC 5 days ago. Paid everything around 20K. After read the contract and reviews from here, we decided to cancel the membership(trust not deed) . Thanks to TUG, we did everything the rescission letter said: fax and usps the copy with our both signatures. Now is the 5th day after purchase, 3rd day after provider received the fax, we only see only 50 dollars refund to AMEX card, is this normal? What happened to the rest of the money? When we will receive the rest refund?

 

[Passepartout]

Me and my husband purchased timeshare from HVC 5 days ago. Paid everything around 20K. After read the contract and reviews from here, we decided to cancel the membership(trust not deed) . Thanks to TUG, we did everything the rescission letter said: fax and usps the copy with our both signatures. Now is the 5th day after purchase, 3rd day after provider received the fax, we only see only 50 dollars refund to AMEX card, is this normal? What happened to the rest of the money? When we will receive the rest refund?

The fact that you received the $50 is acknowledgement that the letter was received. That's good. Every company processes refunds differently, but we usually say that depending on when the refund hits your account, (in your billing cycle), it can take up to 45 days for the refund to show in your statement. It probably won't take that long.

 

[AnneJe]

The fact that you received the $50 is acknowledgement that the letter was received. That's good. Every company processes refunds differently, but we usually say that depending on when the refund hits your account, (in your billing cycle), it can take up to 45 days for the refund to show in your statement. It probably won't take that long.

Thanks for the quick response! Based on the contract, we should receive all the refund within 15 days after the provider received our rescission letter. Guess now we just need to wait …

 

[TheTimeTraveler]

Thanks for the quick response! Based on the contract, we should receive all the refund within 15 days after the provider received our rescission letter. Guess now we just need to wait …

Allow up to 45 days for your refund. Hopefully it will arrive sooner.

In any event, you will receive your refund.






.

 

[SmithOp]

Thanks for the quick response! Based on the contract, we should receive all the refund within 15 days after the provider received our rescission letter. Guess now we just need to wait …

Did you have to put down a $50 deposit before attending the presentation? I'm thinking that was the refund you saw. Some developers are collecting a deposit so people don't bail on the presentation.

 

[AnneJe]

Did you have to put down a $50 deposit before attending the presentation? I'm thinking that was the refund you saw. Some developers are collecting a deposit so people don't bail on the presentation.

No, we didn’t put any deposit to attend presentation. This 50 dollars thing I feel weird because after reading other people’s experiences on TUG for 4 days, no one has the similar refund experience like us. Seems all the people got refund all in once.

 

[AnneJe]

Just want to update. After purchased TS on Mar 18, today we received total refund!