Hi Everyone, My husband and I were very stupid and signed a contract for a time share during our honeymoon last year in Mexico. When we got home we decided to cancel the contract because we simply could not afford it. We sent a letter to RCI and were basically told tough luck. There is no cancellation clause in the contract. So they claim that neither party could cancel. We charged the whole amount to our Credit card, so we contacted the credit card company and disputed the charge. Ultimately we got credited the money back. Now RCI has sent our account to a collection Agency. We have never used any of the services of the time share, but they claim that we still owe them the full $5K. They have sent notices and pulled a hard inquiry on our credit reports. I am wondering what I should do next... PLEASE help!!! Thank you!
The question that stands out in my mind is that jsut because there is no 'cancellation clause' in a contract mean that it cannot be done? If anything, there should have been a clause in there that said that they will not honor any requests to cancel. I dunno... I would consult an attorney about this, too much money riding on this.
Thanks for the answers/questions. I thought that the lack of a cancellation clause would be the issue.. They are saying that the cooling off period does not apply because we signed the contract in Mexico and that it applies to Mexican laws (whatever the heck that means)..Can anyone suggest a place to call to find out what the law is or what rights we would have? Thanks again for all of your help
Can a debt incurred out of country be included on your U.S. credit report? For that matter, can a contract, signed in Mexico be enforced in the U.S.?
