# I own points with Diamond that I'd like to get rid of.....



## Artsondra (Aug 14, 2017)

It looks like, from the forums I have visited and threads I have read, that my best option to get rid of my Diamond contract is to let it go into foreclosure. Other than for the hit on my credit report are there any other consequences for going through foreclosure?

Our last purchase with Diamond was Oct. 2016. We already had prior loans with them but with their encouragement we purchased more. We were told that all our previous loans with them were to be rolled together so we would only have one monthly loan payment to make. The understanding we had was that there was now only one contract now. When we got home and looked more closely at our finances we realized we could not afford this contract so we sent in the cancellation of contract to Diamond within the time. In November I sent an email to Diamond asking if we could still use points that had already been paid for from 2015. Their reply was that when we cancelled the contract we lost all points. So we accepted our loss and, other than a letter in Nov. 2016 acknowledging our cancellation of the contract, we heard nothing from Diamond until June 2017. Diamond was now taking the position that our letter of cancellation was only for the most recent (October 2016) addition to the contract and did not include any existing loans made before then. Diamond told us that we were behind in our payments from Nov. 2016 up to the present.


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## TUGBrian (Aug 14, 2017)

welcome to TUG!

it sounds like you signed up for some sort of upgrade, and when you legally rescinded that you simply went back to whatever ownership you had prior to signing up for the upgrade/trade in/whatever they want to call it.  this is quite common in the timeshare world.

sadly, if you did have an original loan balance, you will need to pay that off before you have any options (other than defaulting and risking the repercussions there).

if you do pay off the loan balance, you can of course surrender your ownership back to DRi for a $250 fee using their deedback program (sticky at the top of this forum)


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## Irene Parker (Nov 17, 2017)

Someone on Trip Advisor posted today a TUG link that advised a widow to just stop paying. I found this advice alarming because DRI has been cooperative with people in her situation if there is no loan outstanding. Our Diamond Advocacy Facebook has assisted on a volunteer basis 201 timeshare members -  190 DRI (I am a DRI member) 8 Bluegreen and a few others. Bluegreen members have their own Facebook called Bluegreen Class Action. About 100 formal complaints have been filed supported by several volunteer advocates and regulatory agencies, about half have been refunded had loans cancelled, relinquished and unfortunately about 5% foreclosed. Members included a Florida detective, an ICE deportations agent with a Master in Justice, a case manager for a federal judge retired from the Clark County Nevada District Attorney's office.  This past Sunday I walked a member trying to cancel a Sampler through the Consumer Financial Protection Bureau complaint form. On Wednesday she received a call from the DRI AZ sales manager letting her know she was being refunded and the agent fired because her complaint matched so many others. Granted this is unusual speed and unheard of she did not have to pass through the DRI automatic denial department talked down to by "hospitality" agents. The real name of the department is Diamond Resorts Consumer Advocacy but the same people worked in Loss Mitigation. The name was changed about a month after we launched our Facebook. Refunds and loan cancellations are a fight to the finish, but the Callahans received a $142,000 loan cancellation the day I sent a draft of this article. DRI had turned down their lawyer.

http://insidetimeshare.com/another-nightmare-timeshare-street/


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