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Re: Canceling THE Contract (by Dana B.):

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