H
hcunningham
Guest
state of california. on 4/4/01 i entered into an agreement with pacific monarch resorts, inc. to purchase a time share interest. i couldn't afford to pay the down payment price of $900 so they let me pay $450 then and had me sign a bank card sales slip for the remaining $459 and dated it for 5/2/01. i signed a "ton" of stuff that evening and have since come to realize i can't afford it. i went to the bank yesterday (5/1/01) and blocked the 2nd part of the downpayment from going through on 5/2/01. i also mailed the company their recission form filled out and dated on 5/1/01 and sent it registered/return receipt. i kept a copy of everything. in reading their recission instruction it states that in california you have until midnight of the 3rd day following the day you sign the offer to purchase to back out. my instincts would be that until the initial transaction is complete; there is no deal in play. my assumption is that transaction has been spread in agreement by them and myself into a two part down payment transaction. any chance i may be correct and have the right to opt out of the time share purchase commitment? thanks, hankc.