# [2008] What happens if I don't pay MF ever again?



## TSNotSure (Dec 22, 2008)

I don't want to be with Wyndham now that they changed the transfer of points rules.  If I don't pay them a red cent again, can I just forfeit my unit/points to them?

They are worthless on the re-sale market, why not just forfieit to Wynham?

What is the down-side of doing this?


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## AwayWeGo (Dec 22, 2008)

*You Can Walk Away From A Timeshare But You Can't Walk Away From Trouble.*




TSNotSure said:


> What is the down-side of doing this?


Bill collectors.  Bad credit reports.  Hits against your credit scores.  Lawsuits.  Collection fees & attorney fees & interest charges tacked onto the unpaid amounts you owe.  All sorts of unpleasantness that would make you wish you had just swallowed hard & paid up on time. 

I agree that it's a bad deal for the timeshare company to treat its owners in such a shabby way.  But once you own it, you own it -- meaning paying what's owed every year remains your responsibility till you sell it or give it away. 

Returning it to the timeshare company might be a possibility, but only if the timeshare company agrees -- & not all of'm do.  (Maybe most of'm don't, I don't know.) 

Plus, if you just quit paying, all the other owners' annual fees go up because of your unpaid timeshare bills.  

Not a good situation.  

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​


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## TSNotSure (Dec 22, 2008)

Can they be given away to charities, and if so, what charities accept them?


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## FlyerBobcat (Dec 22, 2008)

*donating...*

Make sure you read over the "Donating your Timeshare To Charity" section of:

http://www.tug2.net/advice/TUG_Taxes_and_Timeshares.htm

Not sure of the charities that accept them, but I know from reading this forum that they have to have a certain value in order for the organization to accept them.

Also look at:

http://www.tug2.net/advice/TS_abandon.htm

http://www.tugbbs.com/forums/showthread.php?t=43929






TSNotSure said:


> Can they be given away to charities, and if so, what charities accept them?


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## theo (Dec 22, 2008)

*My $0.02 worth...*



TSNotSure said:


> Can they be given away to charities, and if so, what charities accept them?



Any and all charities make the decision as to whether or not to accept a timeshare donation solely upon whether they believe that they can promptly and inexpensively sell it for some cash for their cause.

A general rule of thumb is that if it's a week you couldn't easily sell on eBay for $100, then it's also a week which no charity is likely to accept. They don't want the annual mf burden any more than you do.
Good luck -- but just walking away is not a particularly wise or prudent course of action to seriously consider.


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## bnoble (Dec 22, 2008)

As long as you have a reasonable MF/K ratio (anything under $5, or maybe a bit more), I would 

(a) credit pool your 2009 points, then
(b) hold onto it until late March or maybe April, and try to sell it then.

You can advertise the full use of 2009 points, in credit pool with an extra 2 years to use them, and catch any dead-cat-bounce that the market is likely to see on the value of WynFSP, after the 4Q timeshare glut that happens every year.


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## TSNotSure (Dec 22, 2008)

I'm not planning to walk away from it, was just curious of the consequences.  Thanks for the advice on timing to sell also.

My MF are about 3.5cents per K, a good price.  How does this credit pool thing work?  Any link?

It does infuriate me about the transfer thing though.  I just can't see how they can continue to operate taking so many things away.


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## lprstn (Dec 22, 2008)

TSNotSure said:


> I'm not planning to walk away from it, was just curious of the consequences.  Thanks for the advice on timing to sell also.
> 
> My MF are about 3.5cents per K, a good price.  How does this credit pool thing work?  Any link?
> 
> ...



Its not a bad product at all.  Just being able to use your points with the large internal trading system is enough to keep most owners happy, and being able to multiply your points into many weeks when depositing in RCI was all it took to get me to purchase and use my Wyndham every year.  The other perks I rarely even used.  So for me, a basic owner, I am still happy and still get more use from my Wyndham than I do from my Sheraton Vistana of which I pay higher mf's and only get at most 1 week a year of travel.


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## TSNotSure (Dec 24, 2008)

RCI is a joke as far as I'm concerned.  I've had searches there 1-2 years in advanced, for regions of the US, not specific resorts, and nothing ever comes through.  The only thing I like RCI for is last minute rentals.


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## Ozlander (Dec 25, 2008)

TSNotSure said:


> My MF are about 3.5cents per K, a good price.



You had better check your numbers. Nobody at Wyndam pays only 3.5 cents per K.
More like $4.00 or more per K

Merlyn


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## rickandcindy23 (Dec 26, 2008)

Ozlander said:


> You had better check your numbers. Nobody at Wyndam pays only 3.5 cents per K.
> More like $4.00 or more per K
> 
> Merlyn



In 2008, I had several resorts with fees that reasonable.  Not happening in 2009.


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## TSNotSure (Dec 27, 2008)

Yeah, I was looking at 2008.  $761/203=.0375.  I see 2009 MF were jacked up almost 17% though.


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## Sandy VDH (Dec 27, 2008)

TSNotSure said:


> How does this credit pool thing work?  Any link?



See http://tinyurl.com/Wyndham2008MemberGuide

It is on page 278, which explains the Points Credit Pool.  I tried to cut and paste the text but you can grab text from the Member Guide.  I think the link should bring you to the correct page though.

Note fee is now $30 not $25 as listed in the Guide.


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## TSNotSure (Dec 28, 2008)

Thanks for the link.  Apparently that is only good for VIP?  Not about to sink any real money into Wyndham considering the short time I've been with them and the changes I've seen.


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## timeos2 (Dec 28, 2008)

*Come on in the waters fine*



TSNotSure said:


> Thanks for the link.



No, but strict time frames apply. The pool is open to any FSP owner.


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## Perrygirl (Dec 28, 2008)

*Changed transfer of points rule*



TSNotSure said:


> I don't want to be with Wyndham now that they changed the transfer of points rules.  If I don't pay them a red cent again, can I just forfeit my unit/points to them?
> 
> They are worthless on the re-sale market, why not just forfieit to Wynham?
> 
> What is the down-side of doing this?



I was wondering what you are talking about. I was thinking of buying a Wyndham on ebay looking for about 315000 pts and they are so cheap on ebay but what is wrong that you are talking about?


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## Caius (Dec 29, 2008)

Perrygirl said:


> I was wondering what you are talking about. I was thinking of buying a Wyndham on ebay looking for about 315000 pts and they are so cheap on ebay but what is wrong that you are talking about?



Briefly, Wyndham has been taking away owner benefits and raising fees quite drastically over the past 4-5 years.  If you are planning a purchase for your own personal use, Wyndham points bought resale are still a bargain.  

Take your time, and do lots of reading to find out if the Wyndham system is right for you.  There are no shortage of resale deeds, especially now, so you can afford to be patient.

Good luck!


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## TSNotSure (Dec 30, 2008)

Perrygirl said:


> I was wondering what you are talking about. I was thinking of buying a Wyndham on ebay looking for about 315000 pts and they are so cheap on ebay but what is wrong that you are talking about?



It was mainly answered above, but one of the nice things I liked was being able to sell my unused points, or buy some if I needed them.  As said above, in only two years I've seen alot of unfriendly changes and this one upsets me the most.  I'll keep what I have for a while, but definitely will not buy anymore nor would I recommend any to others.  IMO, use www.vrbo, go when you want and overall it isn't much more expensive considering there is no market value for your unused points now.  

Add a nice increase of 17% in my case to MF this year, and this whole Wyndham thing reminds me alot of fools gold.  Timeshares aren't a very good value unless you are very flexible, etc.  I do like some aspects, but it is something I could live without too.


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