How many days do you have to cancel a Wyndham timeshare?
Wyndham is a timeshare company that sells memberships to individuals looking to vacation in a particular area for an allotted week every year. Because these timeshares are expensive and don’t always get used, many attempts to cancel their Wyndham timeshare contracts. If you’re wondering whether can you cancel Wyndham timeshare, you need to know the terms of your contract. This information will tell you whether or not it is within your legal rights to attempt to cancel your contract.
Wyndham offers a wide selection of timeshare resorts, but they may not be exactly what you’re looking for. Many people find that timeshares are too expensive and offer very little flexibility to the owner. No matter how much you may want out of your Wyndham timeshare purchase, Wyndham doesn’t want you to leave. This means that the company often puts up enough legal hurdles; and red tape to make it difficult for you to get out of the contract. Fortunately, there are some things you can do if you want to cancel your timeshare from Wyndham.
Cancellation Period: 5 Days
If you’ve purchased a Wyndham timeshare within 5 days, federal law entitles you to a full refund; including maintenance fees and closing costs, if you elect to cancel the contract. You do not need to provide any reason for canceling your contract with Wyndham during this period. The company must return your money in full upon request. Be aware that even if Wyndham’s salespeople tell you they offer a 100% money-back guarantee, they are lying to you. Any company that offers such a guarantee is a scam, and you must refrain from falling for it.
To cancel a Wyndham timeshare, you want to send them a letter. The best way to do this is by certified mail to prove that Wyndham received the letter. Be sure to include your name, address, telephone number and account number in the letter. You want to make sure that you also include your sales agreement number and the confirmation number when you book your tour.
If you own a timeshare, you are entitled to an entire rescission period. A complete rescission under the Truth in Lending Act (TILA) allows you to get out of your contract and reclaim all money paid out by you. The rescission period was created to protect home buyers from experiencing unfair and unscrupulous practices by developers and salespeople.
The rescission period is a legal clause in all timeshares. This means you have a certain length of time to cancel your purchase after becoming aware of any information that was not disclosed before the sale. For example, if you discover the timeshare resort is farther away than anticipated; – or it turns out to be your neighbor’s old location. Each state has its own laws regarding rescission and cancellation of timeshare agreements. Rescission periods tend to last 3–14 days, but they can go as long as 30 days.
It is best to consult your state’s rescission laws to determine the rescission period. The rescission period begins when you make a purchase, but many details depend on the particular situation. In many cases, the time of receipt of the public offering statement at the time of sale is a benchmark for when rescission periods must begin.
You’ll have a limited time to review and decide whether or not you want to keep your timeshare after you buy it. There may be a rescission period for these documents. It is essential to consult with a lawyer about your specific legal rights. If you purchased a Wyndham timeshare recently, transferring the ownership is easy. Typically, there will be a toll-free number on the contract. You need to call customer service and let them know about your intention of moving on.
Avoid Timeshare Scams
If you’re thinking about exiting your timeshare contract and want to keep the purchase price, the financial risks will be shared with a reputable timeshare exit company. A good exit company will offer an escrow payment option; so you only pay if they successfully exit your timeshare contract. They will usually ask you many questions to find out what all was taken care of, then focus on filling in any loopholes or misrepresentations they were given by the salesperson who got you in the timeshare contract!
Timeshare contracts are not vacations. They are financial obligations. You will want to make sure you’re doing everything possible to reduce the total annual cost of ownership. If you do keep your timeshare, you’ll want to go through and cancel your useless club memberships and other amenities that aren’t really adding value. Over time, you may even decide that selling is the right option for you. Whatever decision you choose, value the time spent researching your options instead of falling victim to a timeshare scam.