I want to give away my timeshare [Westgate/balance due]

[Blanca]

I have this timeshare at Westgate Resort in Orlando, Florida that I would like to give away for free. It does have a debt of about $6000 left. However, I have not used my free week yet for this year, so if someone takes it they can use it right away. I need someone who knows how to work everything and can legally take my name out of the timeshare.

Thank you.

 

[theo]

I have this timeshare at Westgate Resort in Orlando, Florida that I would like to give away for free. It does have a debt of about $6000 left. However, I have not used my free week yet for this year, so if someone takes it they can use it right away. I need someone who knows how to work everything and can legally take my name out of the timeshare.

If you conduct a search of this site using the word Westgate, you will find lots of input. Be prepared that you will find none of it to be heartening.
There is very little interest in Westgate timeshares, even if already paid off in full (which yours is not) and being offered to be given away for free.
With $6k of associated debt on your particular Westgate "product", there will be absolutely no interest. Sorry, but that's the blunt, unvarnished truth.

Your options are essentially limited to first paying off the debt balance to see if Westgate (or anyone else) would maybe then take the product from you (exercising that particular option would just be a complete waste of money for a basically worthless product, IMnsHO) or simply cease making any further payments from this moment forward, default, allow foreclosure to occur (as it inevitably will), with the advance knowledge of a near-certain negative credit report "hit" that will then linger for 7 years thereafter.

Please don't shoot the messenger; I'm just telling it like it is without any sugar coating and without offering you any false or unfounded hopes.

P.S. I (belatedly) now see that you asked this very same question here in November, 2016 --- at which time you received six detailed replies.
The pertinent facts and content of those responses, however unpalatable they may be, remain applicable and unchanged in the two months since.

 

[Blanca]

If you conduct a search of this site using the word Westgate, you will find lots of input. Be prepared that you will find none of it to be particularly encouraging.
There is very little interest in Westgate timeshares, even if already paid off in full and being offered to be given away for free.
With $6k of associated debt on your particular Westgate "product", there will be no interest at all. Sorry, but that's the blunt and unvarnished truth.

No, don't be sorry. It is worth a try for me. Thank you for your input.

 

[Saintsfanfl]

There is probably only 1/1000 timeshares that have enough resale value for a non-timeshare presentation buyer to be willing to pay off a $6k mortgage as part of the purchase. Put a chunk of those in front of a skilled timeshare salesperson offering a free meal and after 90 minutes they enter a trance state and sign the forms.

 

[Blanca]

There is probably only 1/1000 timeshares that have enough resale value for a non-timeshare presentation buyer to be willing to pay off a $6k mortgage as part of the purchase. Put a chunk of those in front of a skilled timeshare salesperson offering a free meal and after 90 minutes they enter a trance state and sign the forms.

I was wondering if I pay someone if I have any chance in getting rid of this.. lol

 

[TheTimeTraveler]

I was wondering if I pay someone if I have any chance in getting rid of this.. lol

No, not as long as you have a $6K debt hanging over it. If you pay it all off then you'll be able to rid yourself of it.




.

 

[Blanca]

No, not as long as you have a $6K debt hanging over it. If you pay it all off then you'll be able to rid yourself of it.




.

So, if I pay the whole amount and have a zero balance, I do have a chance in getting rid of it then?

 

[Ty1on]

So, if I pay the whole amount and have a zero balance, I do have a chance in getting rid of it then?

honestly, as stated, even after you pay it off, it could be difficult to give away. Wastegate strips a LOT of benefits from the contract when you resell it.

 

[Blanca]

honestly, as stated, even after you pay it off, it could be difficult to give away. Wastegate strips a LOT of benefits from the contract when you resell it.

ohhh, I see..

 

[theo]

So, if I pay the whole amount and have a zero balance, I do have a chance in getting rid of it then?

Only a very small chance. The fundamental question you need to answer for yourself is whether you are willing to pay another $6,000 to take that chance.
I personally would not do so for a (let's face it, worthless) Westgate timeshare. I would instead cut my losses now, pay those thieves not another cent, default --- and just take my lumps after the inevitable credit report hit. Then again, that's very easy for me to say from my keyboard, but I'm not standing in your shoes.
You may really need and want to maintain a solid credit rating for the next 7 years, for your own personal reasons or future plans; a very valid consideration.
If that's the case, then by all means consider maintaining those payments and use the timeshare. The properties are fine --- it's the company itself that stinks.

Whatever you do or decide, do not pay any "escape / relief / exit" company that promises a magical exit from your contractual obligation. Those parasites prey upon desperate people, offering empty promises they cannot possibly keep. The simple and straightforward truth is that there is no magic wand or pixie dust or secret potion that can somehow magically extricate you from a lawful, binding contract into which you freely and voluntarily entered.

 

[Blanca]

A chance, but only a chance. The fundamental question you need to answer for yourself is whether you are willing to pay another $6,000 to take that chance.
I personally would not do so for a (let's face it, worthless) Westgate timeshare. I would instead cut my losses, pay those thieves not another cent, default --- and just take my lumps on the credit report hit. That's easy enough for to say, since I'm not standing in your shoes. You may really need and want to maintain a solid credit rating, for your own personal reasons.

Whatever you do or decide, don't pay some fly by night "escape / relief / exit" company that promises a magical exit from your obligation. There is simply no magic wand or pixie dust that can somehow extricate you from a lawful, binding contractual obligation into which you freely and voluntarily entered.

Yes, I wish I had never signed those papers.. and now I am paying the price for my poor judgement. I will have to pay it off regardless, since I worked so hard to be in good standing to just not pay off my debt and let it hit my credit in a negative matter..

 

[Passepartout]

Yes, I wish I had never signed those papers.. and now I am paying the price for my poor judgement. I will have to pay it off regardless, since I worked so hard to be in good standing to just not pay off my debt and let it hit my credit in a negative matter..

That's about it. It was a snap, uninformed, impulse decision, and you fell for it. At this point, you might as well pay it off as quickly as possible and use it. That's the best way to get value from a timeshare. You're in good company, a poll taken here on TUG last year asked where we (TUGgers) had bought our first timeshare, and it came down almost exactly 50/50% developer purchase/resale. And we're supposed to be the smart ones. In the general population of TS owners, the VAST majority bought from the developer.

Wastegate (as they are known here) have nice resorts in great locations that you will truly enjoy using. The reasons that caused you to buy in the first place are still valid, it's just that their sales practices suck and that once you are an owner, they make it almost impossible to unload. Stick around TUG, learn to use it. We're pretty nice people, too.

Jim

 

[Rjbeach2003]

There is another discussion going on regarding giving away to Grandmother. It's regarding Westgate. Go take a look at the end of second page. They paid off balance and Westgate took it back. Ask that person about it.
There are more trade back programs now. Probably varies property to property. The more desirable ones will be sold again and again.

 

[VacationForever]

Many reported here that if it is fully paid off, Westgate does take back the week and maybe ask you to pay another few hundred dollars to complete the transfer back to them.

 

[Ty1on]

Many reported here that if it is fully paid off, Westgate does take back the week and maybe ask you to pay another few hundred dollars to complete the transfer back to them.

Wasn't it 1 to 2 years maintenance fees?

 

[VacationForever]

Wasn't it 1 to 2 years maintenance fees?

I do not know but have seen numbers quoted on TUG as $500 and $700, based on my memory.

 

[theo]

I do not know but have seen numbers quoted on TUG as $500 and $700, based on my memory.

I seem to vaguely remember a figure of $1,500 cited about a year ago and $700 in a very recent post (#30 in the "transfer to Grandma" thread).

However, in any scenario, the ownership must be paid in full and the account current to even be considered --- which doesn't help the OP in this thread.

 

[Blanca]

That's about it. It was a snap, uninformed, impulse decision, and you fell for it. At this point, you might as well pay it off as quickly as possible and use it. That's the best way to get value from a timeshare. You're in good company, a poll taken here on TUG last year asked where we (TUGgers) had bought our first timeshare, and it came down almost exactly 50/50% developer purchase/resale. And we're supposed to be the smart ones. In the general population of TS owners, the VAST majority bought from the developer.

Wastegate (as they are known here) have nice resorts in great locations that you will truly enjoy using. The reasons that caused you to buy in the first place are still valid, it's just that their sales practices suck and that once you are an owner, they make it almost impossible to unload. Stick around TUG, learn to use it. We're pretty nice people, too.

Jim

Thank you, Jim!!!