Original Message:
Re: Re: My timeshare is paid in full, but I just don't want it anymore (by Lance C.):
amandaf151 wrote:Hello. I’m just looking for a little clarity. I was given an annual deeded Welk one bedroom timeshare in Escondido, CA in 2007. I knew nothing about timeshares or even that there were maintenance fees each year. A couple of years later an elderly couple came to our house and talked us into buying 120,000 Platinum points for $3,000 saying we would never be able to sell it without them. My husband and I used a week in 2007 and my son used a couple of days of it in 2010. It hasn’t been used since, but maintenance fees have been paid every year. Last year Hyatt took over and instead of paying both the maintenance fees and points fees online, we were mailed the maintenance fee and paid it, but never received an invoice for the points fees, and I never thought about it. I also pay county taxes each year. I looked at my account earlier this year and found that my points had been removed. I called and was told they were removed due to non-payment. After a lot of pretty intense conversations they finally reinstated my points. I have asked numerous times for them to take the timeshare back but they always say they don’t have a buyback program at the time. They told me that they show that I have been asking since 2019 and they will let me know if they have a buyback program. I also asked why I pay county taxes if I have points. They said I have a deeded contract that is forfeited when I use my points so I am still obligated to pay taxes. Someone told me I either have a deed or points, not both. I am looking at all of my options to get away from this timeshare. Any thoughts would be greatly appreciated.
Very few timeshare companies have a buy back program. If they take a unit back from you, it's either at no cost or they will charge you a transfer fee plus possibly the next maintenance fee. They will not pay you for your unit. You can check with the resort's Homeowners' Association to see what deed back program they have.
Also, if all your maintenance fees are up to date, you can advertise that you want to give your unit away. You can advertise here on RedWeek's Bargain section. You can also advertise on Timeshare Users Group (aka "TUG"; tugbbs.com) in its Free Timeshares section.
If neither of these options works, then you last resort would be to stop all maintenance fee payments and let your unit go into default and foreclosure. You will probably face a bunch of annoying collection calls and letters. You might also face a hit on your credit history and score, but those can usually be overcome quickly.
Just do not go looking to many of these scam companies or law firms that claim they can get you out of your timeshare or its contract scot-free.