WALK AWAY FROM TIMESHARE

If the timeshare industry had a functional way to get rid of timeshares in a fair and expedient manner, no one would have to just walk away. If you enjoy your timeshare then good, but try and get rid of it, I spent 8 years trying to unload this timeshare with no takers, except the scam companies looking for $$$ to help me get rid of it. Got burned twice, won't happen again. The timeshare resort wouldn't take it back, no other options but to walk away. Making this industry go bust would not really be a problem. I don't see a downside here.

Sure, if people walk away from their fees, fees might go up for those who still use their timeshare.

That's as good a reason as any for those who want to keep their timeshares to lobby their Boards to get their heads out of (wherever) and face the real world.

I posted it on another thread, somewhere, but even RCI finally admits timeshares sold "into perpetuity" was a mistake, and resorts need to deal with it.

http://www.rciventures.com/rdo-strengthens-code-of-conduct-to-include-exit-strategy/

Some of us former LOTs (Lovers of Timeshare) who have been taking flak from current LOTs because we have been encouraging the industry to correct the "No Exit Strategy" mistake are gratified to see that some headway is being made.

Some LOTs are so into themselves and their timeshares, that you don't even dare talk about this issue on their little private forums. So, like I said, it's gratifying to see the industry waking up a bit.

We have switched from vacations to staycations, so I started trying to get rid of ours in 2008, and have only managed to give away two weeks. Still have four. One of our resorts has led us on about taking ours back, for free, but they have stopped answering emails. We've been paying fees there since 1992, so it's not like we are irresponsible deadbeats shirking our responsibilities.

Don't walk away, RUN away as fast as you can!

It just occurred to me that the longer the industry ignores this problem, the more owners will be affected by it.

Every owner, some day, for one reason or another, will not want to, need to, be able to, be an owner.

Ignoring this issue, or thinking it is being handled by threatening owners with litigation, liens, and all manners of ugliness, does not resolve it.

if you enjoyed your resort leave 2 years of maint fees for them in your WILL give your childrem friends relatives a great free vacation

I just heard back from one of our resorts yesterday.

They have decided not to take weeks back at this time, but we are "on the list."

That's where we have paid since 1992, and we have offered them for free for several years. They have an Owners Rental Program, and we have them in it. I also rent out a week at another resort. of course, we don't get our full fees back.

It's not about just the money; it's about having to hassle with something you should not have to hassle with. There should be a point when you can just move on.

My timeshare nightmare is over, and my credit took little or no hit whatsoever. The collection company put a comment on the credit report for non-payment of maintenance fees. So what, you can survive up to two on the report, by walking away from your timeshare, and as of today my credit rating is back up to where it was before. And having a good spam / call blocker on your cell is a good idea too. The only way to force the timeshare industry to change and implement a timeshare return system is to hurt them where it counts, in the $$$ area. All the best to you that have your timeshare.

Update: April 2016 - Non-Payment Message on credit reports is gone, it only stayed on my reports for 6 months. FICO score back to normal. So much for the credit collection wankers !!!

We have been in a battle for almost two years over our timeshare at, Westgate Smoky Mountains, which is now all but burnt down. We bought in 2013, odd year and have yet to be able to book our week for the two bedroom unit. We finally did for next year, July 4th weekend after doing everything except beat the crap out of someone or cuss them straight down. But now that week is not going to happen. And they are offering at no fee to transfer our week, oh how gracious of them. I didn't buy somewhere else. OK sorry for all the nonsense but do you know how the the collection came off of your credit report?

As long as you have the timeshare promissory note paid off, and the only thing you have to worry about is maintenance fees, then its not a big deal. Maintenance fees are not a secure debt ... no matter how much a collection agency says otherwise. Collection agency added a note to my credit report, and 6 months later it was gone. Now if you have a secure note and default on that note, It will follow you. Any maintenance fees collection statements will just go away . Good luck !!

You bring up a point I have not been able to have answered. If you have a timeshare and walk away from it and it goes into foreclosure, does the resort get that so called property or week back? If so they then sell it to another buyer. But then still can charge you the full amount of what you owed before the foreclosure. How is that? Should they not only be able to charge you the difference of any of what is owed? If a car is repoed and it goes to auction, you are only obligated for money owed over what it auctions for.

Not a secured debt?

As I posted July 11, 2014:

"One of our resorts does not foreclose; they get a judgment for bad debts and then put a lien on your other property (house for instance). You still own the timeshare and your debt, with accumulated legal fees, just increases."

I believe that it also depends on the state you live in. They can threaten a lien, but they are bluffing. Again only secured debts can have a lien applied. The collection industry purposely obstructs people from learning what collection practices they use. Read what the rules say in your state. But the bottom line is non secured debt is nothing to worry about. "Caveat Emptor" in all things. Maintenance Fees are not a secured debt. Loan payments on a timeshare are a secured debt because you signed a promissory note.

INSTRUCTIONS FOR COLLECTING A JUDGMENT AND COMPLETING A WRIT OF GARNISHMENT

"Step 3: Serve the Court Order and the interrogatories on the Judgment Debtor. request to place a lien against real estate owned by the Judgment Debtor."

https://www.courts.state.co.us/Forms/PDF/JDF%2082%20How%20to%20Collect%20a%20Judgment%20and%20Issuing%20a%20Writ%20of%20Garnishment%20R6%2015%20(FINAL).pdf

scottm421 wrote:

I believe that it also depends on the state you live in. They can threaten a lien, but they are bluffing. Again only secured debts can have a lien applied. The collection industry purposely obstructs people from learning what collection practices they use. Read what the rules say in your state. But the bottom line is non secured debt is nothing to worry about. "Caveat Emptor" in all things. Maintenance Fees are not a secured debt. Loan payments on a timeshare are a secured debt because you signed a promissory note.

It's not as hard to get out of these contracts as consumers think. Most companies are putting it in their budget to pay for cancellations now. I know my old site budgeted for a few million because they know there are MANY companies now that are assisting with cancellations.

The reason many companies often collect fees upfront is because no one wants to pay someone to get them out of their contract...... a lot of people feel as though they lost twice if they have to pay ANOTHER fee just to cancel something they have paid a ton of money into. Once the consumer is free and clear of their deed or contract they fail to pay the company that helped cancel their contract. Just being honest of how it works and why some companies ask to be paid upfront.

Whats even more sad is when we get calls that people want help SELLING their timeshare. That's like selling someone a lemon car. Many timeshares are for list for sale for $1 on eBay because they just want relief from MF.

Timeshares aren't necessarily bad, it's just people aren't properly taught how to purchase them.

saram280 wrote:

Timeshares aren't necessarily bad, it's just people aren't properly taught how to purchase them.

Timeshares are easy to BUY. The problem is that people aren't properly taught how to get RID of timeshares.

One timeshare management company I'm unhappy to be acquainted with hands out a sheet titled "Our Promise." In it, they promise, among other things, "Guaranteed future vacations that can be passed on to future generations."

That's not a promise; that's a WARNING! This particular timeshare management company hits 11 on a 10 point nasty scale if you DARE ask about giving back your unneeded timeshare. And they require buyers from current owners to pony up more than two years maintenance in advance, a requirement that must have been designed to kill resales and make sure that current owners will HAVE to "pass their vacations on to future generations."

I say again: Timeshares are easy to BUY. The problem is that people aren't properly taught how to get RID of timeshares.

NEVER pay anyone money upfront that claims they can get you out of your contract . SCAM ALERT !!

Welcome back Don........didn't recognize your new avatar.

Thanks.... I got an new email address so I guess they changed my avatar . Is this better ?

Considering that almost every single post is negative and illustrates how gullible people get destroyed by xtreme tactic sales presentations full of so much deceit it makes used car dealers look honest, you have a LOT of nerve gall to advertise under the guise of a conversation which by the way WAS obvious.

markl18

saram280 wrote:

One timeshare management company I'm unhappy to be acquainted with hands out a sheet titled "Our Promise." In it, they promise, among other things, "Guaranteed future vacations that can be passed on to future generations."

Sounds -- and smells -- like Spinnaker/Southwind.

Warning to all readers: STAY AWAY FROM Spinnaker/Southwind. Don't even buy their deeded weeks and/or points on the secondary market.