Canceling THE Contract

Please ...can someone answer a couple of questions...

HOW MANY DAYS DO I HAVE TO LEGALLY CANCEL ONE OF THESE CONTRACTS? IS 5 DAYS LEGALLY CORRECT IN STATE OF NEVADA?

CAN THEY LEGALLY KEEP ALL THE MONEY I PUT DOWN?

WHAT ARE MY OPTIONS TO GET SOME OF THE MONEY BACK?

OR SHOULD I JUST FORGET THE MONEY AND MOVE ON!

THANKS

I'm not sure what the rescission period is in Nevada. Rescission periods vary depending on what state you bought in ..... some are 5 days, some are 7 days and some are 10 days from the date you signed the contract. You can call the resort where you bought to get this answer.

If you are in the rescission period you must follow the directions in your contract and send the rescission letter by certified mail/return receipt to the address in your contract.

When you rescind you get your entire money down returned to you. It's the law, but you must do it within the rescission period.

After searching on google, it looks like the recission period in Nevada is 5 days.

jayjay wrote:

I'm not sure what the rescission period is in Nevada. Rescission periods vary depending on what state you bought in ..... some are 5 days, some are 7 days and some are 10 days from the date you signed the contract. You can call the resort where you bought to get this answer.

If you are in the rescission period you must follow the directions in your contract and send the rescission letter by certified mail/return receipt to the address in your contract.

When you rescind you get your entire money down returned to you. It's the law, but you must do it within the rescission period.

I recently was fraudulently induced into buying a timeshare on Cape Cod. The sellers promised us $100 in gas coupons and $500 in gifts and 4 free airline tickets none of which we have received. We bought an alleged forclosed unit for $7,000 less than half of what it sold for new but we have not received anythiong we have been promised. We have paid over $1800 to date and wisgh just to get out of the contraxct we will agree to give up any right to recover our money. The monthly payment comes out of a checking account would our credit rating be adversly affected if we cancelled the checking account? Thanks

danab50 wrote:

I recently was fraudulently induced into buying a timeshare on Cape Cod. The sellers promised us $100 in gas coupons and $500 in gifts and 4 free airline tickets none of which we have received. We bought an alleged forclosed unit for $7,000 less than half of what it sold for new but we have not received anythiong we have been promised. We have paid over $1800 to date and wisgh just to get out of the contraxct we will agree to give up any right to recover our money. The monthly payment comes out of a checking account would our credit rating be adversly affected if we cancelled the checking account? Thanks

I would contact the Massachusetts Attorney General to file a complaint concerning this company.

In Nevada with my Timeshare... I called on the 6th day of recission of the contract...one day too late and they are intent on keeping all of my money...they need it far more than I do...because they said I could not take any repercussion after it was cancelled or they would make me keep paying on the condo. Do I want the 2,000... hell yes...but it is far more important to me to get out of this damm thing. These are a joke and never never again will I play this game unless I am with a lawyer or gone to law school myself . KT

Actually, you came out very well by losing only $2000. Many resorts would have made you adhere to your contract after the recission period was over and force you to pay the balance and if you refused they could ruin your credit. You're very lucky this resort did not.

Chalk it up to a very expensive $2000 lesson in life.

katet11 wrote:

In Nevada with my Timeshare... I called on the 6th day of recission of the contract...one day too late and they are intent on keeping all of my money...they need it far more than I do...because they said I could not take any repercussion after it was cancelled or they would make me keep paying on the condo. Do I want the 2,000... hell yes...but it is far more important to me to get out of this damm thing. These are a joke and never never again will I play this game unless I am with a lawyer or gone to law school myself . KT