Comments on: What Happens if I Stop Paying My Timeshare? http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/ Timeshare Help Resource Thu, 29 Jul 2010 16:18:14 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Traci http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-10/#comment-2771 Traci Thu, 29 Jul 2010 10:44:23 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2771 Hey Dorothy, are you a u.s. citizen? Just wondering what could be in store for me. How long did it take them to send you the deed in lieu to settle your account? Hopefully, you are finished now, but please keep us updated. I am really nervous about this. Summer Bay calls at least 2-3 times a day and at least one email. That could be easily fixed, thinking about changing the phone number, or doing away with the land line all together. Don't think they have cell phone numbers. Hey Dorothy, are you a u.s. citizen? Just wondering what could be in store for me. How long did it take them to send you the deed in lieu to settle your account? Hopefully, you are finished now, but please keep us updated. I am really nervous about this. Summer Bay calls at least 2-3 times a day and at least one email. That could be easily fixed, thinking about changing the phone number, or doing away with the land line all together. Don’t think they have cell phone numbers.

]]> By: Dorothy http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-10/#comment-2768 Dorothy Thu, 29 Jul 2010 02:41:54 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2768 Wyndham finally sent me the deed in lieu of foreclosure paperwork....after months of harassing calls and referral to a collection agency. I think they try to scare and intimidate people into paying before deciding to send the deed in lieu forms. I signed mine and sent them back so now what happens? Wyndham finally sent me the deed in lieu of foreclosure paperwork….after months of harassing calls and referral to a collection agency. I think they try to scare and intimidate people into paying before deciding to send the deed in lieu forms. I signed mine and sent them back so now what happens?

]]> By: Traci http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-10/#comment-2766 Traci Wed, 28 Jul 2010 20:18:12 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2766 Hey Melham, I've been reading the posts. Most seem to have bought from the same ts. Also, others that have gotten the deed in lieu of forclosure seem to live outside the u.s. We are u.s. citizens, so we are stuck with the sucky credit if we decide to go this route. Just testing the waters I suppose. We got suckered into ts just like the rest. We did buy a resale so not near as much money as others, but it's still a struggle. We have had it only 3 yrs. and have never gotten to use it. Gosh, until reading this post I never realized how many of us there are out there. I didn't know they could really forclose if you were still making the monthly payments and not paying the maint/taxes. You would think they would have done something already since we haven't paid those fees for 2009 & 2010. I wish someone has been through this with Summer Bay, so I didn't have to be the guinea pig, but I guess somebody's gotta get this ball rollin'. My husband is usually the one that jumps into bad $ decisions. I wish I could say this was his fault, but I talked him into it. How stupid I was!!! As I said in my other post, the ts hasn't been able to get July's payment, and that was really a blessing in disguise. Well, I guess we are just gonna ride the roller coaster and see what happens. I am tired of throwing money away that no one is benefitting from, well except the ts. But that is fixing to change. Thank you so much for your support! I will probably need alot more of it before this is over. Btw, how are things going so far for you? If yours gets settled soon, please keep supporting the rest of us out there. We are really going to need your encouragement and wisdom. I salute all of us brave souls for wising up! Hey Melham, I’ve been reading the posts. Most seem to have bought from the same ts. Also, others that have gotten the deed in lieu of forclosure seem to live outside the u.s. We are u.s. citizens, so we are stuck with the sucky credit if we decide to go this route. Just testing the waters I suppose. We got suckered into ts just like the rest. We did buy a resale so not near as much money as others, but it’s still a struggle. We have had it only 3 yrs. and have never gotten to use it. Gosh, until reading this post I never realized how many of us there are out there. I didn’t know they could really forclose if you were still making the monthly payments and not paying the maint/taxes. You would think they would have done something already since we haven’t paid those fees for 2009 & 2010. I wish someone has been through this with Summer Bay, so I didn’t have to be the guinea pig, but I guess somebody’s gotta get this ball rollin’. My husband is usually the one that jumps into bad $ decisions. I wish I could say this was his fault, but I talked him into it. How stupid I was!!! As I said in my other post, the ts hasn’t been able to get July’s payment, and that was really a blessing in disguise. Well, I guess we are just gonna ride the roller coaster and see what happens. I am tired of throwing money away that no one is benefitting from, well except the ts. But that is fixing to change. Thank you so much for your support! I will probably need alot more of it before this is over. Btw, how are things going so far for you? If yours gets settled soon, please keep supporting the rest of us out there. We are really going to need your encouragement and wisdom. I salute all of us brave souls for wising up!

]]> By: MELHAM http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-10/#comment-2762 MELHAM Wed, 28 Jul 2010 15:13:53 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2762 TRACI, Try to read above posts and then you can decide from there. TRACI,

Try to read above posts and then you can decide from there.

]]> By: Traci http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-10/#comment-2756 Traci Tue, 27 Jul 2010 21:42:49 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2756 Has anyone ever bought through Summer Bay in Orlando? We still owe bout 4 years and have not paid our maint. fees/taxes for 2 years. My wallet was stolen the first of this month so I cancelled all my credit/debit cards. TS was unable to collect, so instead of sending them the new numbers to resume our payments, my husband and I have been thinking about just letting it go. We are also in a finacial hardship. My husband was laid off over a year ago. We were turned over to collections for the maint. fees/taxes sometime last year with the threat of forclosure. Up until this month we paid our ts on time. Anybody got some advice? Has anyone ever bought through Summer Bay in Orlando? We still owe bout 4 years and have not paid our maint. fees/taxes for 2 years. My wallet was stolen the first of this month so I cancelled all my credit/debit cards. TS was unable to collect, so instead of sending them the new numbers to resume our payments, my husband and I have been thinking about just letting it go. We are also in a finacial hardship. My husband was laid off over a year ago. We were turned over to collections for the maint. fees/taxes sometime last year with the threat of forclosure. Up until this month we paid our ts on time. Anybody got some advice?

]]> By: Susan http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-10/#comment-2755 Susan Tue, 27 Jul 2010 10:15:55 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2755 And...another question. What if with Wyndham you have used points to pay your maintainence fees ahead of time. Is that considered a "payment"? Thanks And…another question. What if with Wyndham you have used points to pay your maintainence fees ahead of time. Is that considered a “payment”? Thanks

]]> By: Susan http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-10/#comment-2753 Susan Tue, 27 Jul 2010 01:26:37 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2753 Thanks Jason, Does it seem to matter with anyone the outstanding balance on the loan or just a lack of payments? Thanks Jason,
Does it seem to matter with anyone the outstanding balance on the loan or just a lack of payments?

]]> By: Jason http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-10/#comment-2752 Jason Tue, 27 Jul 2010 01:15:52 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2752 Susan, I talked to Wyndham before stopping payments and asked what options were available since I could not afford the TS anymore. They said either pay or dont pay and be delinquent. I specifically asked about Deed in Lieu of Foreclosure and they said that a property has to be 150 days past due...no payments made what so ever...before they will even consider a deed in lieu of. Susan,
I talked to Wyndham before stopping payments and asked what options were available since I could not afford the TS anymore. They said either pay or dont pay and be delinquent. I specifically asked about Deed in Lieu of Foreclosure and they said that a property has to be 150 days past due…no payments made what so ever…before they will even consider a deed in lieu of.

]]> By: Susan http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-9/#comment-2751 Susan Mon, 26 Jul 2010 22:36:19 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2751 I see a lot Wyndham TS owners. Have any of you attempted to contact them to ask for a deed in lieu prior to stopping payments? If so what was the response? I see a lot Wyndham TS owners. Have any of you attempted to contact them to ask for a deed in lieu prior to stopping payments? If so what was the response?

]]> By: Radha http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-9/#comment-2743 Radha Thu, 22 Jul 2010 14:11:14 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2743 Hi All, Its me again. As I mentioned in my previous posts above, I am not in US anymore. So all NON US guys who don't care for Credit History and even for those who care for Credit History. I am getting emails from my timeshare stating that I need to fill out a form with some sort of notary and pay them 400 USD they will cancel all my timeshare stuff and even they dont report to the credit collection agencies. So My advice is again stop paying the timeshare stuff and they will try to bother you and even threat you that they will sue and other stuff, but finally they will email you politely and ask you to return the timeshare. Below I am pasting the email I got from the timeshare person: -------------------------------------------------------------- Hi, Please be advised that Westgate Resorts is attempting to contact you regarding the impending foreclosure of your account. At this time we have been unsuccessful in maintaining an open line of communication, and wish to do so in order to bring resolution to this urgent matter. We understand that sometimes unforeseen circumstances can cause a financial burden that could prohibit the repayment of your Mortgage Note. At Westgate, our goal is to provide you with quality vacation experiences that your family looks forward to year after year. With this in mind, we would appreciate the opportunity to work with you to find an amicable solution that benefits both you and Westgate Resorts. If you wish to continue your Westgate ownership, there are some options we can discuss. At this point, Westgate is willing to restructure your mortgage to make it possible for you to keep your current property, or transfer your ownership to something that works better for you. However, should you decide that vacation ownership is not something you wish to continue, Westgate is also willing to accept a Warranty Deed In Lieu of Foreclosure ("WDIL"). Taking advantage of any of these options would accomplish the following: * All foreclosure proceedings would cease. * You would be released from any past delinquency and penalties. * It would prevent any negative reporting to the various credit agencies. As your Contract Mediator, I will do my best to assist you so that you can avoid the foreclosure process. Please know I am here to help you, but if you do not call, I cannot assist your or your family. Our office hours are Monday through Thursday from 8:00 a.m. to 7:00 p.m., Friday from 8:00 a.m. to 5:30 p.m., and Saturday from 9:00 a.m. to 3:00 p.m. Eastern Standard Time. I look forward to speaking to you real soon. Respectfully, Elynn Jenkins ---------------------------------------------------------------- Hope this will help..:) Hi All,

Its me again. As I mentioned in my previous posts above, I am not in US anymore. So all NON US guys who don’t care for Credit History and even for those who care for Credit History.

I am getting emails from my timeshare stating that I need to fill out a form with some sort of notary and pay them 400 USD they will cancel all my timeshare stuff and even they dont report to the credit collection agencies. So My advice is again stop paying the timeshare stuff and they will try to bother you and even threat you that they will sue and other stuff, but finally they will email you politely and ask you to return the timeshare.

Below I am pasting the email I got from the timeshare person:
————————————————————–
Hi,

Please be advised that Westgate Resorts is attempting to contact you regarding the impending foreclosure of your account. At this time we have been unsuccessful in maintaining an open line of communication, and wish to do so in order to bring resolution to this urgent matter.

We understand that sometimes unforeseen circumstances can cause a financial burden that could prohibit the repayment of your Mortgage Note. At Westgate, our goal is to provide you with quality vacation experiences that your family looks forward to year after year. With this in mind, we would appreciate the opportunity to work with you to find an amicable solution that benefits both you and Westgate Resorts. If you wish to continue your Westgate ownership, there are some options we can discuss. At this point, Westgate is willing to restructure your mortgage to make it possible for you to keep your current property, or transfer your ownership to something that works better for you.

However, should you decide that vacation ownership is not something you wish to continue, Westgate is also willing to accept a Warranty Deed In Lieu of Foreclosure (“WDIL”). Taking advantage of any of these options would accomplish the following:

* All foreclosure proceedings would cease.
* You would be released from any past delinquency and penalties.
* It would prevent any negative reporting to the various credit
agencies.

As your Contract Mediator, I will do my best to assist you so that you can avoid the foreclosure process. Please know I am here to help you, but if you do not call, I cannot assist your or your family. Our office hours are Monday through Thursday from 8:00 a.m. to 7:00 p.m., Friday from 8:00 a.m. to 5:30 p.m., and Saturday from 9:00 a.m. to 3:00 p.m. Eastern Standard Time.

I look forward to speaking to you real soon.

Respectfully,

Elynn Jenkins
—————————————————————-

Hope this will help..:)

]]> By: Jackee http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-9/#comment-2740 Jackee Wed, 21 Jul 2010 18:27:07 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2740 We to bought into a timeshare that promised we could come to the resort at anytime. We were given points and told it would never cost more then 9,000 points for any vacation. We supposedly bought a 3 bedroom unit at Barrier Island in Kitty Hawk N.C. Come to find out we didn't have enough points to stay in a 3 bedroom anywhere. We also do not have enough points to say in even a 1 bedroom at our so called home resort. To fix the problem that would not exist had they been honest, they suggest we but another unit that is being liquidated. We will get 30,000 extra points. If we combine them with the points we already have 35,500 then we ought to be able to go anywhere we want. Well if we do this then we will have to pay maintenance fees on the new property also. This was nothing more then a scam. We to bought into a timeshare that promised we could come to the resort at anytime. We were given points and told it would never cost more then 9,000 points for any vacation. We supposedly bought a 3 bedroom unit at Barrier Island in Kitty Hawk N.C. Come to find out we didn’t have enough points to stay in a 3 bedroom anywhere. We also do not have enough points to say in even a 1 bedroom at our so called home resort. To fix the problem that would not exist had they been honest, they suggest we but another unit that is being liquidated. We will get 30,000 extra points. If we combine them with the points we already have 35,500 then we ought to be able to go anywhere we want. Well if we do this then we will have to pay maintenance fees on the new property also. This was nothing more then a scam.

]]> By: MELHAM http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-9/#comment-2737 MELHAM Mon, 19 Jul 2010 15:18:03 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2737 Jason, You mean all you have to do is just pay whatever is your outstanding balance on you maintenance fee and that's it!? Hope I can receive the same letter too I stopped paying 2 on Feb 2010. Thank you also for keeping us updated. Hope to hear more from you and Stacy. Jason,

You mean all you have to do is just pay whatever is your outstanding balance on you maintenance fee and that’s it!? Hope I can receive the same letter too I stopped paying 2 on Feb 2010. Thank you also for keeping us updated. Hope to hear more from you and Stacy.

]]> By: Jason http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-9/#comment-2734 Jason Sun, 18 Jul 2010 14:25:18 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2734 UPDATE! Stopped paying Wyndham TS in January 2010. Like Stacy J I received a packet of documents form Wyndham in the mail today. ”As an alternative to foreclosure and avoiding additional costs, legal fees, and a foreclosure on your credit report, Wyndham will accept the return of the unit if you execute the enclosed Deed of Lieu of Foreclosure documents. By signing this deed you will be relieved of any further obligation on the contract, however THIS EXCLUDES ANY OUTSTANDING PROPERTY OWNERS ASSOCIATION FEES. If you elect to execute & return the enclosed documents within 15 days upon receipt of this letter, we will send you a check in the amount of $125 for notary fees, etc within 45 days. You must execute the documents in the presence of a notary public. Upon the receipt of the correctly executed documents your contract with our company will be terminated.” I was jumping for joy after reading this. Like Stacy J, they say we owe over $750 in maintenance fees. Will keep you updated as things progress. Thanks Stacy J for keeping us up to date on your transactions. UPDATE! Stopped paying Wyndham TS in January 2010. Like Stacy J I received a packet of documents form Wyndham in the mail today. ”As an alternative to foreclosure and avoiding additional costs, legal fees, and a foreclosure on your credit report, Wyndham will accept the return of the unit if you execute the enclosed Deed of Lieu of Foreclosure documents. By signing this deed you will be relieved of any further obligation on the contract, however THIS EXCLUDES ANY OUTSTANDING PROPERTY OWNERS ASSOCIATION FEES. If you elect to execute & return the enclosed documents within 15 days upon receipt of this letter, we will send you a check in the amount of $125 for notary fees, etc within 45 days. You must execute the documents in the presence of a notary public. Upon the receipt of the correctly executed documents your contract with our company will be terminated.” I was jumping for joy after reading this. Like Stacy J, they say we owe over $750 in maintenance fees. Will keep you updated as things progress. Thanks Stacy J for keeping us up to date on your transactions.

]]> By: Jellico http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-9/#comment-2733 Jellico Sun, 18 Jul 2010 14:04:32 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2733 Susan, not sure what a TS dump is but a Qcd cannot be done on a ts as far as I know. Susan, not sure what a TS dump is but a Qcd cannot be done on a ts as far as I know.

]]> By: Susan http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-9/#comment-2732 Susan Sat, 17 Jul 2010 19:24:36 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2732 Has anyone tried The Timeshare Dump or a Quit claim deed? Has anyone tried The Timeshare Dump or a Quit claim deed?

]]> By: Jim and Tammy http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-9/#comment-2730 Jim and Tammy Thu, 15 Jul 2010 16:56:11 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2730 We are considering stopping paying on our Wyndham timeshare. We are doing research to find out how badly it will affect us. Your blogs have been very helpful. We've been paying on ours for almost 4 years. It was originally $20,000. We still owe $16,000, since the interest is so high. I figured out that if we only make the minimum monthly payment of $326.87 it will take us 17 years to pay it off. Plus there's almost $900/year in maintenance fees, which will only increase as time goes on. I don't know what we were thinking when we bought it. It's a luxurious way to vacation, but sheesh... you can stay at a pretty nice place for just what the maintenance fees cost. We're trying to decide if it is worth the hit we'll take to our credit. We are hoping to build a new house in a few years, which we'll need to take out a loan for. It's just SO expensive to keep paying on the timeshare. We're trying to get out of debt, and $16,000 would take a big chunk off of our debt. Anyone have any opinions about whether the risk to your credit is worth it? Has anyone finished the process of the whole deed in lieu thing successfully? It sounds like that may be okay. Not ideal, but acceptable. We appreciate listening to your stories, and will continue to follow what is happening with all of you. I don't think we'll ever be suckers for high pressure sales again. What a huge mistake! We are considering stopping paying on our Wyndham timeshare. We are doing research to find out how badly it will affect us. Your blogs have been very helpful. We’ve been paying on ours for almost 4 years. It was originally $20,000. We still owe $16,000, since the interest is so high. I figured out that if we only make the minimum monthly payment of $326.87 it will take us 17 years to pay it off. Plus there’s almost $900/year in maintenance fees, which will only increase as time goes on. I don’t know what we were thinking when we bought it. It’s a luxurious way to vacation, but sheesh… you can stay at a pretty nice place for just what the maintenance fees cost.

We’re trying to decide if it is worth the hit we’ll take to our credit. We are hoping to build a new house in a few years, which we’ll need to take out a loan for. It’s just SO expensive to keep paying on the timeshare. We’re trying to get out of debt, and $16,000 would take a big chunk off of our debt. Anyone have any opinions about whether the risk to your credit is worth it? Has anyone finished the process of the whole deed in lieu thing successfully? It sounds like that may be okay. Not ideal, but acceptable. We appreciate listening to your stories, and will continue to follow what is happening with all of you. I don’t think we’ll ever be suckers for high pressure sales again. What a huge mistake!

]]> By: MELHAM http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-9/#comment-2729 MELHAM Wed, 14 Jul 2010 17:45:23 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2729 I havent received anyhting yet, but no more calls but as stacy said they might send me the same letter. I havent received anyhting yet, but no more calls but as stacy said they might send me the same letter.

]]> By: claudia http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-9/#comment-2727 claudia Wed, 14 Jul 2010 01:50:47 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2727 We live in Mexico and we have a deeded timeshare in the US but we can afford to keep making payments. If we stop paying and foreclose on our timeshare unit in Florida what happens to us? Does this affect us to get a visa or to come back to the US in the future or it just affect our credit in the US? Any help is appreciated thanks We live in Mexico and we have a deeded timeshare in the US but we can afford to keep making payments. If we stop paying and foreclose on our timeshare unit in Florida what happens to us?

Does this affect us to get a visa or to come back to the US in the future or it just affect our credit in the US?

Any help is appreciated thanks

]]> By: Stacy J http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-9/#comment-2725 Stacy J Tue, 13 Jul 2010 19:48:40 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2725 OK so I called the timeshares again.. and they said i owe 557 dollars which is bull. they added more then 300 dolalrs to the reminaing balance for taxes and late fees. Not paying them one more dime. But i talked to the deed of Leui departemtn and they said i could sign the papepers and they will stil cancel the contract without the money because that is a different department but the minatance department will probably still want it. But as long as my contract is canceled i dont care. And i know everyone was wondering about if this affects our credit, and the lady sid if i did the dee of lieu then it will show up as surrending the property and she compared it like financing a car and not being able to make the payments. she said it not good but its not as bad as just totally foreclosureing it. But in the letter it says if i send this deed out within 15 days they will send me 125 dollars notary fee within 45 days. lets see if tehy do. if they do ill pay them that and thats all. i am furious that they tried to get that much more money out of me. OK so I called the timeshares again.. and they said i owe 557 dollars which is bull. they added more then 300 dolalrs to the reminaing balance for taxes and late fees. Not paying them one more dime. But i talked to the deed of Leui departemtn and they said i could sign the papepers and they will stil cancel the contract without the money because that is a different department but the minatance department will probably still want it. But as long as my contract is canceled i dont care. And i know everyone was wondering about if this affects our credit, and the lady sid if i did the dee of lieu then it will show up as surrending the property and she compared it like financing a car and not being able to make the payments. she said it not good but its not as bad as just totally foreclosureing it. But in the letter it says if i send this deed out within 15 days they will send me 125 dollars notary fee within 45 days. lets see if tehy do. if they do ill pay them that and thats all. i am furious that they tried to get that much more money out of me.

]]> By: emmy http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-9/#comment-2723 emmy Mon, 12 Jul 2010 21:38:22 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2723 Hi.. I stopped paying my 'mortgage' payments through tempus select in January. We purchased the ts in may 09. We aren't due to pay any maintenance until next year. I received a phone call and a letter saying something about forclosure. I have read many posts and it seems that the uk citizens are getting out of them Eventually. I live in England so I'm hoping they offer dil soon. However, will this on going nightmare affect us entering the USA? We are due to come over in December for our honeymoon and I'm slightly worried. Can anyone give me any info? Thanks Hi.. I stopped paying my ‘mortgage’ payments through tempus select in January. We purchased the ts in may 09. We aren’t due to pay any maintenance until next year. I received a phone call and a letter saying something about forclosure. I have read many posts and it seems that the uk citizens are getting out of them Eventually. I live in England so I’m hoping they offer dil soon. However, will this on going nightmare affect us entering the USA? We are due to come over in December for our honeymoon and I’m slightly worried. Can anyone give me any info?

Thanks

]]> By: MELHAM http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-9/#comment-2722 MELHAM Mon, 12 Jul 2010 19:47:38 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2722 stacy, I Have Wyndham too, that's good! mine is $600/month , really cant afford anymore.I hope If ever I can bargain just not to hit my credit or we wil both loose: ruin my credit and they wont even receive anyhting single penny from me ,hope we parted ways fairly. right? thanks for more updates. stacy,

I Have Wyndham too, that’s good! mine is $600/month , really cant afford anymore.I hope If ever I can bargain just not to hit my credit or we wil both loose: ruin my credit and they wont even receive anyhting single penny from me ,hope we parted ways fairly. right? thanks for more updates.

]]> By: Stacy J http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-9/#comment-2721 Stacy J Mon, 12 Jul 2010 18:31:36 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2721 Melham what kind of Timeshares do you have again? Once you notice the phone calls stopping then you should be expecting a the deed to hand it over. I got a lawyer to check it out for free of charge so nice of him! he said it was legit and that i should deffnatly take it. he suggested taht i call them and see if i could get out of paying the maintance fees from the time i stopped paying though which is $40 a month since febreary. If anything i will just pay it. i rather pay $200 now then thousands in the end. AQnd it the letter also states that this will not take a hit on a my credit which i am very happy about. Melham what kind of Timeshares do you have again? Once you notice the phone calls stopping then you should be expecting a the deed to hand it over. I got a lawyer to check it out for free of charge so nice of him! he said it was legit and that i should deffnatly take it. he suggested taht i call them and see if i could get out of paying the maintance fees from the time i stopped paying though which is $40 a month since febreary. If anything i will just pay it. i rather pay $200 now then thousands in the end. AQnd it the letter also states that this will not take a hit on a my credit which i am very happy about.

]]> By: Melham http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-9/#comment-2720 Melham Sat, 10 Jul 2010 23:58:08 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2720 Erica, You are right, I would also rather have a bad credit than have them for the rest of my life. I havent received any offer too. Bad thing is I havent bought any big thing such a home. Pls keep update us too. Erica,
You are right, I would also rather have a bad credit than have them for the rest of my life. I havent received any offer too. Bad thing is I havent bought any big thing such a home. Pls keep update us too.

]]> By: Erica http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-9/#comment-2719 Erica Sat, 10 Jul 2010 01:01:24 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2719 They called me about twice a week and I finally decided to answer. They are trying to get me to pay something, but I told them I'm not sure. But, they don't know I'm not going to pay them a dime. I read from someone on this site that if you pay them even a little bit of what you owe it will start all over again. So, it has been since NOV of 2009 I have stopped paying. I have yet to get an offer from them. I have a timeshare through Palm Beach Resorts located in West Palm Beach, FL. I'm holding my ground and not paying them a dime. I have made all my big purchases such as buying a home and car. So at this time I don't need the good credit anymore IF it takes a hit on it. So, I am prepared to have 7 years of bad credit. BUT, I have checked my credit..as of 6-12-2010 my credit is still good. Shocked...I didn't see the timeshare on there at all yet. So I'll check it again in another month or so to see if has changed. But, I rather have 7 yrs of bad credit than stick with the timeshare for the rest of my life. They called me about twice a week and I finally decided to answer. They are trying to get me to pay something, but I told them I’m not sure. But, they don’t know I’m not going to pay them a dime. I read from someone on this site that if you pay them even a little bit of what you owe it will start all over again. So, it has been since NOV of 2009 I have stopped paying. I have yet to get an offer from them. I have a timeshare through Palm Beach Resorts located in West Palm Beach, FL. I’m holding my ground and not paying them a dime. I have made all my big purchases such as buying a home and car. So at this time I don’t need the good credit anymore IF it takes a hit on it. So, I am prepared to have 7 years of bad credit.

BUT, I have checked my credit..as of 6-12-2010 my credit is still good. Shocked…I didn’t see the timeshare on there at all yet. So I’ll check it again in another month or so to see if has changed.

But, I rather have 7 yrs of bad credit than stick with the timeshare for the rest of my life.

]]> By: MELHAM http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-9/#comment-2716 MELHAM Fri, 09 Jul 2010 14:07:46 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2716 Lynn, Forgot to mention that I paid TIME SHARE ONLY for my TS ads I paid $600 too but its over 3 yrs now, I never heared any single offer, they make a lot of business out of TS. Lynn,

Forgot to mention that I paid TIME SHARE ONLY for my TS ads I paid $600 too but its over 3 yrs now, I never heared any single offer, they make a lot of business out of TS.

]]> By: MELHAM http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-9/#comment-2715 MELHAM Fri, 09 Jul 2010 14:06:07 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2715 stacy, so far after i wrote them a letter saying I cant afford anymore but for 5 yrs a was religiously on time, it was good but due to divorce and health I cant afford anymore ,I cant give them what I dont have . I explained that through writing but I dont answer their calls.then now they stopped calling . I dont know what;s next.I may probably receive an offer like yours but mine is quite big money ($600/month incl maintenance fee,I stopped Feb too.)So please update us here. or you can e-mail me at meserr88@yahoo.com. stacy,

so far after i wrote them a letter saying I cant afford anymore but for 5 yrs a was religiously on time, it was good but due to divorce and health I cant afford anymore ,I cant give them what I dont have . I explained that through writing but I dont answer their calls.then now they stopped calling . I dont know what;s next.I may probably receive an offer like yours but mine is quite big money ($600/month incl maintenance fee,I stopped Feb too.)So please update us here. or you can e-mail me at meserr88@yahoo.com.

]]> By: Stacy J http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-9/#comment-2714 Stacy J Fri, 09 Jul 2010 13:40:17 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2714 Lynn, never heard of them but dont pay any of those places that says they can sell your ts. I got beat out of $1000.00 Paying timeshares only 3 years ago, saying they would sell my ts in 6 months guareteed. Its been 3 years and now they wont even take my call. I reported them to the BBB. Never got my money back by the way. just be careful who you pick. And Melham I am going nto call them hopefulyl this afternoon if i have time. Hopefulyl they just let it go its not like they are going to loose any money they i borrowed the money from them and they borrowed it from themselves they already got at least 10,000 from me altready i think thats enough. But i got my friends lawyer to look over the deed of leui on monday to make sure its all legit and i wont be coned into anything else. I will keep you all updated. any luck with your Melham ? Lynn, never heard of them but dont pay any of those places that says they can sell your ts. I got beat out of $1000.00 Paying timeshares only 3 years ago, saying they would sell my ts in 6 months guareteed. Its been 3 years and now they wont even take my call. I reported them to the BBB. Never got my money back by the way. just be careful who you pick. And Melham I am going nto call them hopefulyl this afternoon if i have time. Hopefulyl they just let it go its not like they are going to loose any money they i borrowed the money from them and they borrowed it from themselves they already got at least 10,000 from me altready i think thats enough. But i got my friends lawyer to look over the deed of leui on monday to make sure its all legit and i wont be coned into anything else. I will keep you all updated. any luck with your Melham ?

]]> By: Lynn http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-9/#comment-2712 Lynn Thu, 08 Jul 2010 22:21:29 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2712 Anyone here had experience with the G&G timeshare law group? I'm thinking of contacting them to use them to help us get out of our Cancun timeshares. Anyone here had experience with the G&G timeshare law group? I’m thinking of contacting them to use them to help us get out of our Cancun timeshares.

]]> By: MELHAM http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-9/#comment-2710 MELHAM Thu, 08 Jul 2010 13:47:37 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2710 stacy, How about trying to call them and make a bargain. " Any suggestion that can be a help? any one? stacy,

How about trying to call them and make a bargain. ” Any suggestion that can be a help? any one?

]]> By: Stacy J http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/comment-page-9/#comment-2707 Stacy J Wed, 07 Jul 2010 19:04:39 +0000 http://rcivip.com/2008/what-happens-if-i-stop-paying-my-timeshare/#comment-2707 They didnt state a nu,ber figure. I just figured 1500 for both the maintance and morgage together. So what are they asking for the morgage, maintance fees, and/or both. cause if its just the maintance fees I guess it wouldnt be that high. i dont want to to pay anything to them. what you think ? They didnt state a nu,ber figure. I just figured 1500 for both the maintance and morgage together. So what are they asking for the morgage, maintance fees, and/or both. cause if its just the maintance fees I guess it wouldnt be that high. i dont want to to pay anything to them. what you think ?

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