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It is very unfortunate that me and my wife actually signed the contract to avail the Holiday Ownership. There are several red flags to me when the agent was doing the presentations like "the offer is only good for this day". This strategy does not give you enough time to weigh whether the offer was really beneficial or if the benefits outweight the additional expenses.
Well, we've signed it and now after arriving home and considering the monthly obligation for 42 months, the offer does not look as good as it was during the presentation. It struck as something that should be on the least priority of my monthly expenses.
Now we're stuck with it. Is there any legal implacation if we cancel the contract? The catch here is instead of paying the 10% downpayment we were given the option to just pay half or 5% which is PHP 9,100 on the spot and the remaining 5% is to be paid on the 15th of July also specified on the contract.
My wife and I, after careful discussion and consideration, decided that we can not afford the additional burden of paying the Timeshare monthly installment as we have other more pressing obligation at the moment.
I really need some advise in this matter before I start calling them for cancellation. I am not interested about refunding the P9,100 dp. I will just consider it as lost money (albeit hard earned money). What i don't want is some collection agent or phone calls from them will have to bother me. They know a lot of my personal information including my wife
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