Timeshare ownership, especially with a big company like Wyndham Vacation Ownership, is often sold as a dream come true—the promise of guaranteed vacations in luxurious settings. This, coupled with the long-term realities of most people’s financial commitments, along with changing personal circumstances or a change in preferred vacation activities, often makes people want out. Wyndham cancellation and ownership transfer may be cumbersome, but as complicated as it may sound, with the right information and steps to follow, you can cancel or transfer your ownership in a way that meets both your financial and personal needs.
This all-inclusive guide walks through all the aspects of Wyndham Vacation Ownership cancellation, offering tips, strategies, and solutions tailor-made for timeshare owners based in the U.S. Whether it’s a cancellation based on finance, dissatisfaction, or other personal reasons, this guide will give you the knowledge necessary in making an informed decision.
Understanding Wyndham Vacation Ownership Cancellation Policy
Wyndham Vacation Ownership is actually one of the leading time-share companies in the world, with diverse vacation properties scattered across the globe. In essence, when you buy a Wyndham timeshare, what you acquire is practically the right to occupy a given property for a stipulated duration each year. This could be so mouth-watering an offer, especially for somebody who travels almost all the time. But in the long run, the economic and other contractual obligations may actually end up quite crippling.
Key Elements of Wyndham Cancellation Policy
- Recission Period: All U.S. states have their own rules and regulations that grant the timeshare purchaser a limited period of time, also known as the rescission or cooling-off period, during which he may decide to cancel his purchase with no strings attached. It usually ranges from 3 to 10 days depending on the state. Within this limited time frame, an owner may cancel his contract and receive a full refund.
- Contractual Obligations: When the rescission period has expired, your ability to cancel is now based on the terms of your contract. Most are designed so that it would be extremely difficult and often expensive to accomplish a successful cancellation. The details of the language within your contract are very important.
- Company Policy: Wyndham, like many in the timeshare industry, may not be too obliging about releasing owners too easily. However, the company does offer exits for people who are truly committed to going, though it typically demands some persistence and negotiation.
How to Cancel Your Wyndham Vacation Ownership: A Step-by-Step Guide
Cancelling your Wyndham Vacation Ownership is a process that requires careful attention to detail and adherence to specific steps. Here’s a detailed guide to help you navigate the process:
- Review Your Contract Thoroughly: Start by reading your contract carefully to understand your rights and obligations. Pay special attention to the cancellation terms, fees, and any clauses related to contract termination.
- Act Within the Rescission Period: If you are within the rescission period, act immediately. Draft a written cancellation notice, include all necessary details (such as your name, contract number, and reason for cancellation), and send it via certified mail to Wyndham’s designated address. Retain a copy for your records and proof of mailing.
- Contact Wyndham for Post-Rescission Options: If the rescission period has passed, contact Wyndham’s customer service or owner support team. They may offer options for exiting your contract, such as a deed-back program, where you return the timeshare to the company.
- Prepare and Submit Documentation: Gather all relevant documentation, including your contract, proof of payments, and any correspondence with Wyndham. Submit these documents along with your cancellation request to support your case.
- Seek Professional Advice: If you face difficulties or resistance, consider consulting a timeshare exit company or an attorney specializing in timeshare law. Professionals can offer valuable insights and negotiate on your behalf.
Cancellation Deadlines: When Can You Cancel for a Full Refund?
The timing of your cancellation is critical when it comes to securing a full refund. Here’s what you need to know:
- Rescission Period Refund: Just as noted, the rescission period cancellation guarantees recovery of 100% of the payment made. It’s pretty much the most straightforward and risk-free way to exit a Wyndham timeshare agreement.
- After the Rescission Period: Once the rescission period is up, you have a much harder time getting a full refund. Depending on your terms and how you play the negotiation, Wyndham can make offers that are either partial refunds, or you might have to settle for alternative compensation.
- Early Termination Clauses: A few contracts may have this clause, but it usually means heavy fees that substantially cut any refund you can get.
Fees and Penalties: What to Expect When Cancelling
It is important to understand the potential cost consequences of canceling your Wyndham Vacation Ownership:
- Early Termination Fees: Most timeshare contracts will contain an early termination fee. Often, this charge can be quite substantial. The fee is typically set quite high in an attempt to dissuade owners from cancellation after the rescission period has passed.
- Administrative or Processing Fees: Wyndham may impose its own administrative fees for processing your cancellation. These charges vary and may be taken from any refund passed to you.
- Outstanding Balances: If there are outstanding fees, dues, or mortgage payments attached to your timeshare, these must be cleared before your cancellation can become active. Otherwise, it may result in further fines or legal action being taken..
How to Cancel Wyndham Vacation Ownership Online or by Phone
Wyndham provides the option to cancel either through online or via phone, which makes cancellation a bit accessible but depending on your scenario, it may differ.
- Online Cancellation Process: To cancel online, log into the official Wyndham website in your owner’s account. Visit the support or cancellation option and fill out a cancellation request form. Call Wyndham to get the confirmation of receipt, as this will verify that you sent in a request for cancellation.
Phone Cancellation Process: The phone cancellation process is done by calling either Wyndham’s customer service or owner services department. Have your contract details on hand and provide an explanation of why you’re canceling. Always note the date and time when you called, and the representative’s name to whom you spoke, along with any instructions that the person has given.
Legal Rights: Cancelling Your Wyndham Contract
Knowing your rights as a consumer can be very important in order to cancel a Wyndham Vacation Ownership contract.
- State-Specific Consumer Protection Laws: Each state in the U.S. has passed consumer-protection laws against being wrongfully treated under their respective timeshare contracts. In many states, this means you have the right to cancel your contract within a specific period and potentially receive other protections related to that period.
- Federal Consumer Protection: Although federal law can rarely directly regulate timeshare contracts, it does consist of some consumer protection provisions in cases relating to fraud and misrepresentation. If there is a sensation that the contract arose out of some misleading conduct at the time of sale, perhaps there will be the basis to invalidate the contract under federal law.
- Legal Consultation: It is advisable to seek consultation from an accomplished attorney who specializes in timeshare agreements since timeshare agreements are complex contracts that include numerous potential legal pitfalls. An attorney can help you understand your rights, identify any breaches in the contract, and explore legal avenues for cancellation.
Options If You Miss the Wyndham Cancellation Window
Just because you have missed the rescission period does not mean it is over. There are still several options available to timeshare owners who wish to exit their Wyndham contract:
- Timeshare Exit Companies: Companies like CancelTimeshareGeek specialize in getting timeshare owners out of their contracts legally and ethically. Often, these companies work directly with Wyndham to negotiate an exit on your behalf, potentially saving you from having to go through a legal battle with the company or trying to settle high cancellation fees.
- Resale Market: Selling your timeshare on the resale market is another alternative. While this avenue might prove long-winded and may not offer full recovery of your capital, it may prove to be one practical way to offload your ownership to somebody else while saving you from more maintenance fees.
- Renting Out Your Timeshare: If you cannot sell and you cannot cancel, then you can have your timeshare rented out. You may realize that this will help offset maintenance fees and, hence, reduce your financial burden as you explore other exit strategies.
Common Issues and Solutions When Cancelling Wyndham Ownership
Canceling a Wyndham timeshare is a rare event. There are several issues that frequently come up during this process. Here’s how to head them off:
- High Pressure Tactics: Wyndham, like most other timeshare companies, tends to use high-pressure tactics to dissuade you from canceling. This will often come in the form of “exclusive” deals, or other additional perks which might entice you to stay. It can be quite important to stand firm and stay focused on your goal. If needed, enlist a lawyer to assist in interpreting these strategies.
- Misunderstanding and Ambiguity: Sometimes the process of cancellation may entail a great deal of communication back and forth. Never relay anything verbally, and always document every communication with representatives of Wyndham. Keep the record of all correspondence and confirm any verbal agreement in writing.
- Confusing Contractual Terms: The contract terms in timeshare agreements have tricky legal jargons that become ambiguous and may end up confusing. If you have any doubts with any part of your contract, consult with a professional like a timeshare attorney who can explain your obligations and rights.
Alternatives to Cancelling: Reselling or Transferring Your Wyndham Ownership
If outright canceling your Wyndham timeshare proves to be too difficult or costly, you may want to consider the following:
- Reselling: The resale market provides an opportunity to transfer your timeshare to another buyer. While this may not make you whole in the amount you paid, it could be a practical way to exit your contract and not face more fees. It is important that you use well-established resale platforms and also consider any restrictions that Wyndham may impose in the process of reselling.
- Transfer of Ownership: You can transfer your ownership by selling it to a friend or family member, or even to a third party. Wyndham will have specific guidelines for transferring your ownership, such as requiring written approval from the company and there may be transfer fees as well. Still, you are able to get rid of the timeshare without the hassle of cancellation using this method.