Original Message:
Re: Re: Wyndham timeshare any way to stop the contract? (by KC):
esthera40 wrote:I recently bought a timeshare with wyndham in October. Still paying the mortgage. I discovered Its hard to use because the properties are always not available plus they are charging several fees which I was unaware of at the time we signed the contract. I just want out of this nightmare. Any thoughts will be appreciated.
A very few states have a contract rescission (cancellation) period of 10 days after contract execution; in most states it's 5-7 days. Wherever in the USA you signed on the dotted line, you are obviously a few months too late to cancel a contract that was executed back in October.
Frankly (...and please don't shoot the messenger here) you don't have a lot of options. With an unpaid loan balance, you cannot possibly transfer the "product" to anyone else. You likely (and wisely) don't want to pay off the loan to then only be able to dump the "product" for just a very tiny fraction of whatever you paid Wyndham. So.....you can either keep paying on the note and fees and try to use this "product" --- or you can just stop paying and face the inevitable negative credit report consequences for defaulting on the loan. It's a tough spot to be in, with some difficult decisions to make. Only you can decide upon the most palatable course of action between these two unpleasant alternatives, neither one of them very attractive.