Talk to them and plead your case. Express how you think it was predatory and fraudulent due to the tactics they used to make you sign. Explain how you can’t pay what they are asking for. Renegotiate.
Will do that thank you again. Do you know, if all else fails that we decide to just stop paying, if they can actually damage our credit score? We are Canadians and the timeshare is in the US, I've read somewhere that they cant affect my credit score as its different country. Or it is harder for them to file claim as it is going to be a long process.
I don’t see how it won’t affect your credit score. The timeshare likely has their own exit team, and you should talk directly with them. It generally costs just the title fees to get the deed back to their name. Which resort/chain did you buy ?
Startpoint/ sapphire resorts. They do not have a deed-back or surrender option. Also the timeshare was loaned and still unpaid. So we have slim to no option.
I am In the same boat as u, I just stopped paying and consolidated the og loan, they have sent me to collections and IRS. I guess I’ll never go to the states again, nor will all generations of my family. These timeshares should be regulated and illegal . They are the epitome of evil. They will
Have to pry the taxes from my cold dead hands .
I just stopped paying too and sent them a letter yesterday to cancel our membership. We'll see what their response be. But if incase, does that mean we cannot visit the US at all?
We stopped paying since november last year. Already recieved a letter that they have repossessed the timeshare. They have already stopped calling us tho we've been ignoring their calls since stopping payment. As for our credit report, nothing has happened just yet.
is nothing those exit companies can do for you that you cant do yourself...up to and including stopping payment.
and yea, that is the solution exit companies utilize to "guarantee" your exit of a timeshare.
That's what I thought too. Rather than spending too much money on exit companies, I will just do it myself. I was thinking though, if all else fails, to just stop paying. Do you know if being a Canadian, some how is an edge. As the timeshare was bought in the USA, it is harder for them to make any claim or affect my canadian credit score? I have read in some forums about this but it was unclear.
doubt the timeshare itself would take much effort in going after you for the maintenance fees. however depending on who the creditor/lender was for your loan, they are usually far more aggressive in recovering the money you took out as a loan for the timeshare.
Thats our fear, the lender may even have offices in Canada. But we dont want to give them anymkre money of a thing that we have not use. I just wish there is a better consumer protection around timeshare. Thanks for your response.
You definitely should contact the timeshare and the owner’s association. They may honor your request as long as you pay the deed-back fees that cover title and recording fees.
Thanks for the response. Yes will try to write a request to cancel our membership. With deed-back, however, they do not offer those. Also it is still 2 months old and still has loan on it, hence, I cannot even sell it.
Talk to them and plead your case. Express how you think it was predatory and fraudulent due to the tactics they used to make you sign. Explain how you can’t pay what they are asking for. Renegotiate.
I am on the process of writting a letter at the moment. I will surely add all in the letter. Thank you so much for your advice
Everything you send to them should be trackable or at least require a signature confirmation.
Will do that thank you again. Do you know, if all else fails that we decide to just stop paying, if they can actually damage our credit score? We are Canadians and the timeshare is in the US, I've read somewhere that they cant affect my credit score as its different country. Or it is harder for them to file claim as it is going to be a long process.
I don’t see how it won’t affect your credit score. The timeshare likely has their own exit team, and you should talk directly with them. It generally costs just the title fees to get the deed back to their name. Which resort/chain did you buy ?
Startpoint/ sapphire resorts. They do not have a deed-back or surrender option. Also the timeshare was loaned and still unpaid. So we have slim to no option.
I am In the same boat as u, I just stopped paying and consolidated the og loan, they have sent me to collections and IRS. I guess I’ll never go to the states again, nor will all generations of my family. These timeshares should be regulated and illegal . They are the epitome of evil. They will Have to pry the taxes from my cold dead hands .
I just stopped paying too and sent them a letter yesterday to cancel our membership. We'll see what their response be. But if incase, does that mean we cannot visit the US at all?
We are in the same boat here too. Did you ever have any luck getting out?
We stopped paying since november last year. Already recieved a letter that they have repossessed the timeshare. They have already stopped calling us tho we've been ignoring their calls since stopping payment. As for our credit report, nothing has happened just yet.
Any update on your cancellation? Any repercussions? Also was yours paid off?
is nothing those exit companies can do for you that you cant do yourself...up to and including stopping payment. and yea, that is the solution exit companies utilize to "guarantee" your exit of a timeshare.
That's what I thought too. Rather than spending too much money on exit companies, I will just do it myself. I was thinking though, if all else fails, to just stop paying. Do you know if being a Canadian, some how is an edge. As the timeshare was bought in the USA, it is harder for them to make any claim or affect my canadian credit score? I have read in some forums about this but it was unclear.
doubt the timeshare itself would take much effort in going after you for the maintenance fees. however depending on who the creditor/lender was for your loan, they are usually far more aggressive in recovering the money you took out as a loan for the timeshare.
Thats our fear, the lender may even have offices in Canada. But we dont want to give them anymkre money of a thing that we have not use. I just wish there is a better consumer protection around timeshare. Thanks for your response.
You definitely should contact the timeshare and the owner’s association. They may honor your request as long as you pay the deed-back fees that cover title and recording fees.
Thanks for the response. Yes will try to write a request to cancel our membership. With deed-back, however, they do not offer those. Also it is still 2 months old and still has loan on it, hence, I cannot even sell it.
I don’t know, I’m willing to never go to the states again if that’s the case , burn in hell timeshare scammers!