# [2015] About to Start the Foreclosure Process



## GoChiefsorBust

Hello Everyone,

I have been lurking on this site for about 2.5 years.  I discovered it about 2 months AFTER my soon to be ex husband and I purchased ownership at La Cascada (San Antonio, TX).  We have 308k annual points, and we were paying a LOT for it in maintenance and loan fess.....almost $1k/month.

Originally we were splitting the timeshare payments 50/50; however due to his poor financial decisions, I have been trying to take over the entire payment on my own.  However, that is no longer feasible.  

I completed the Wyndham Financial Hardship package and put in receipts, copies of bank statements, W-2s, legal documents, statements from lawyers.....I submitted this information about 3 weeks ago and hadn't heard back from anyone so I called them.  I was informed that my financial hardship claim was denied.  I promptly told the (nice) representative that I need them to cancel any automatic withdraws, seeing that I won't have the money to pay them any way.  

I asked what the penalty for non-payment would be: he told me that their creditors would call and harrass me until we went into the foreclosure process, which would adversely affect my credit score.  I told him, ok, thank you for your honesty. 

I have read how people would come on here and ask "what would happen if...." but they would never come back and update people on the status of WHAT happened if they DID; well, consider me your guinea pig!  I appreciate the wealth of information I have received from you all, so it's the least I can do.  I'll try to provide current, timely, information as soon as I have been provided with updates from them.  My hope is that with me having made contact with Wyndham 4 months ago, and last month, they see a record of me making an effort to be upfront about my financial situation.  I doubt they care though.....


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## gygull

I received my hardship package yesterday. I'm disappointed to hear that you were denied considering the fact that you are going through a divorce. I'm going to hold off filling out mine for now. At least until I decide which route to go.


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## GoChiefsorBust

I was too.  We had made payments on time this entire time.  It's not like I just chose to stop paying.....I actually enjoy using the TS and was disappointed with their findings.  I'm researching a Plan B and C and D.......just in case....but as it stands my actual mortgage takes precedence.


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## vacationhopeful

You owe almost $50,000 on your timeshare loan?

Your soon to be ex ... he signed those loan papers also ... tell Wyndham where he works? 

If you agreed to take over this in your NOT YET finalized divorice ... kick you lawyer's butt and redo the settlement agreement.

Shit happens ... BUT you can't take this hit on your credit for the next 10+ years ....


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## Passepartout

We are saddened by your circumstances. Good luck and know that eventually you will get your feet back under you and be able to move ahead. Did you seek counsel from a lawyer who specializes in financial stuff, including bankruptcy. It is possible (though I know nothing of your finances other than the TS) that a bankruptcy would affect your credit less than a foreclosure. BK would be able to do away with the TS debt, and depending on which state you live in may not effect your home mortgage or car(s). It's possible that other debt can be discharged as well. You'd have to do the paperwork first to be able to know. Usually the initial assessment is at no charge to you.

Anyway, thanks for telling us and we look forward you your report of how this is progressing.

We wish you well, regardless.

Jim


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## GoChiefsorBust

Forgive me, not quite sure how to multi-quote yet:

Vacationhopeful - The settlement agreement as it stands is pretty fair.  And it's not even an issue of holding someone accountable.  The fact is, neither of us can spare any additional money to put aside to the timeshare.  He has an obligation to pay child support for our child and his child from a previous marriage; that supersedes (to me) any timeshare payment.  I'd rather him provide for his kids than make a Wyndham payment 

Passeportout: I've been researching bankruptcy.  That was my Plan C.  Right now we owe $39K and some change on the TS; monthly maintenance fees are $149.  I am the "breadwinner" and make enough money where people may tell me that it wouldn't make sense to file bankruptcy.  I have no additional debt besides my mortgage and the TS (no student loans / credit cards / car loans / medical bills, etc), so I REALLY don't want to mess up my credit.  However I found myself putting off groceries, gas, and commuting fees just so I had enough to put together for the TS payment.  That's ridiculous.  

I was thinking on the train ride home.....maybe I could tap into my 401K and deplete that (keeping in mind the tax penalty) to pay off Wyndham, and then I'll just have the $149/mo. to pay (which is reasonable).  I don't necessarily want to do that....but if I have to I know it's an option.  Not one I'm interested in pursuing.  But I am open to advice.  I don't want to mess up my credit.  I take pride in honoring my obligations....and my STBXH is doing what he can; I can't fault him on that.  We're just kinda STUCK.

Thanks for the replies so far; I appreciate it.


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## ronparise

In my opinion your "mistake" in the hardship application was continuing to pay during the process

Your application is designed to show that you can no longer make the payments. but you were paying.   It just doesn't square.


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## sjsharkie

GoChiefsorBust said:


> I was thinking on the train ride home.....maybe I could tap into my 401K and deplete that (keeping in mind the tax penalty) to pay off Wyndham, and then I'll just have the $149/mo. to pay (which is reasonable).  I don't necessarily want to do that....but if I have to I know it's an option.  Not one I'm interested in pursuing.  But I am open to advice.  I don't want to mess up my credit.  I take pride in honoring my obligations....and my STBXH is doing what he can; I can't fault him on that.  We're just kinda STUCK.
> 
> Thanks for the replies so far; I appreciate it.


Definitely do not tap into your 401k.  Per your earlier post, you can't spare any additional money to put aside for the timeshare.  Don't make things worse by paying of the loan with your retirement savings -- and then saddle yourself with ongoing mfs.

I know you don't want to mess up your credit, but it doesn't sound like you are buying any large assets soon.  In any event, I believe it is far better to walk away and take a ding on your credit than deplete your retirement savings and have nothing to fall back on in an emergency or at retirement age.  Just my 2 cents -- not a professional opinion.  I'd stop paying and then see if you can work with Wyndham on doing a deed back.

Good luck to you.

-ryan


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## GoChiefsorBust

ronparise said:


> In my opinion your "mistake" in the hardship application was continuing to pay during the process
> 
> Your application is designed to show that you can no longer make the payments. but you were paying.   It just doesn't square.



You have a point.  I was making payments, albeit late.....but it's gotten to a point where I can no longer scrimp and pinch, even paying late.  I suppose my sense of obligation really messed up my chances of getting a fair deal. 

This is what bothers me.  People will intentionally NOT pay because they hate Wyndham, or just don't want to be bothered.  I try to do the right thing and it ends up working against me.  I'm not pouting, but.....it's not fair


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## GoChiefsorBust

sjsharkie said:


> Definitely do not tap into your 401k.  Per your earlier post, you can't spare any additional money to put aside for the timeshare.  Don't make things worse by paying of the loan with your retirement savings -- and then saddle yourself with ongoing mfs.
> 
> I know you don't want to mess up your credit, but it doesn't sound like you are buying any large assets soon.  In any event, I believe it is far better to walk away and take a ding on your credit than deplete your retirement savings and have nothing to fall back on in an emergency or at retirement age.  Just my 2 cents -- not a professional opinion.  I'd stop paying and then see if you can work with Wyndham on doing a deed back.
> 
> Good luck to you.
> 
> -ryan



Thank you Ryan.  I don't want to mess with my 401K either, but this is scary.  I'm not looking forward to the calls or the threats or the judgements...and then I was thinking, can they garnish wages?  Can they try to take my home?  Tomorrow I'm going to reach out to a few lawyers for free consultations.  Just to see what they say about this.  I'm not trying to buy a new car / open a new line of credit / buy a new house / buy ANYTHING, so if my score happens to drop, well then, I can deal with it and pay for things we need with cash.  So much to process!


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## Ty1on

GoChiefsorBust said:


> Thank you Ryan.  I don't want to mess with my 401K either, but this is scary.  I'm not looking forward to the calls or the threats or the judgements...and then I was thinking, can they garnish wages?  Can they try to take my home?  Tomorrow I'm going to reach out to a few lawyers for free consultations.  Just to see what they say about this.  I'm not trying to buy a new car / open a new line of credit / buy a new house / buy ANYTHING, so if my score happens to drop, well then, I can deal with it and pay for things we need with cash.  So much to process!



Don't answer phone calls from unknown numbers.  After foreclosure, you'll be offered to revise the credit report from "foreclosure" to "Settled for Less than Owed" for 15%-20% of the balance.  If you don't see any major credit needs for 7 years or so, then you don't even need to entertain that.

They won't garnish or lien.  They'll eventually just take back the ownership and report it as foreclosed.


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## GoChiefsorBust

Ty1on said:


> Don't answer phone calls from unknown numbers.  After foreclosure, you'll be offered to revise the credit report from "foreclosure" to "Settled for Less than Owed" for 15%-20% of the balance.  If you don't see any major credit needs for 7 years or so, then you don't even need to entertain that.
> 
> They won't garnish or lien.  They'll eventually just take back the ownership and report it as foreclosed.



This is good to know, thank you!  NO major credit needs so I will definitely keep this in mind.  I've decided (already) to drop Plan D (tap into my 401K) from the table.  That's MY money; not Wyndham's!


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## ronparise

GoChiefsorBust said:


> You have a point.  I was making payments, albeit late.....but it's gotten to a point where I can no longer scrimp and pinch, even paying late.  I suppose my sense of obligation really messed up my chances of getting a fair deal.
> 
> This is what bothers me.  People will intentionally NOT pay because they hate Wyndham, or just don't want to be bothered.  I try to do the right thing and it ends up working against me.  I'm not pouting, but.....it's not fair



As a real estate agent in SW Flordia during our boom and bust, I saw a lot of short sales. The applicant had to do the same sort of applicaation to get a bank to approve a short sale and they were always declined as long as the applicant kept paying...as soon as he fell 3 months behind it would be approved

You are likely to be turned down any way because you have the assets (401k).  I think you have to decide; borrow against the 401k, or stiff Wyndham and take a hit to your credit

I know what I would do, which is to stiff wyndham. Your credit score will come back, I promise.


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## GoChiefsorBust

ronparise said:


> As a real estate agent in SW Flordia during our boom and bust, I saw a lot of short sales. The applicant had to do the same sort of applicaation to get a bank to approve a short sale and they were always declined as long as the applicant kept paying...as soon as he fell 3 months behind it would be approved
> 
> You are likely to be turned down any way because you have the assets (401k).  I think you have to decide; borrow against the 401k, or stiff Wyndham and take a hit to your credit
> 
> I know what I would do, which is to stiff wyndham. Your credit score will come back, I promise.



I appreciate the advice, truly.  I was thinking just now how I am going to have to remind myself daily to give them the "silent" treatment.  Meaning, where I would WANT to write and send a letter stating that I am unable to pay, and would like consideration into Wyndham taking the TS back and clearing me and the STBX from any obligation to them.....but this is Wyndham we're talking about.  They're not always the most reasonable.  I'm going to stick this process out.  Since payment is due tomorrow and the 27th, I'll report back and let you know if they reach out to me, or let me sit.......


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## Padad

ronparise said:


> As a real estate agent in SW Flordia during our boom and bust, I saw a lot of short sales. The applicant had to do the same sort of applicaation to get a bank to approve a short sale and they were always declined as long as the applicant kept paying...as soon as he fell 3 months behind it would be approved
> 
> You are likely to be turned down any way because you have the assets (401k).  I think you have to decide; borrow against the 401k, or stiff Wyndham and take a hit to your credit
> 
> I know what I would do, which is to stiff wyndham. Your credit score will come back, I promise.



Are retirement assets considered in such a hardship?    See what happens after you don't pay for three months 

Change your number at TS company to landline, then Cancel your landline.  

Consider refi on your house, pay off TS, then give it away.   Paying over 30 years is less of a cash flow hit.


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## am1

GoChiefsorBust said:


> You have a point.  I was making payments, albeit late.....but it's gotten to a point where I can no longer scrimp and pinch, even paying late.  I suppose my sense of obligation really messed up my chances of getting a fair deal.
> 
> This is what bothers me.  People will intentionally NOT pay because they hate Wyndham, or just don't want to be bothered.  I try to do the right thing and it ends up working against me.  I'm not pouting, but.....it's not fair



There is a lot to be said for honoring a debt.  But look at it from Wyndhams eyes.  You are more likely to continue to pay then someone who has stopped paying and late fees and compounded interest has made the amount owing a lot more then what was owed.  

I am in favor of not allowing debts to be discharged.  That would benefit honest people as interest rates would be lower and bank and other lending companies would be more willing to lend money.


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## uscav8r

ronparise said:


> You are likely to be turned down any way because you have the assets (401k).  I think you have to decide; borrow against the 401k, or stiff Wyndham and take a hit to your credit
> 
> I know what I would do, which is to stiff wyndham. Your credit score will come back, I promise.


The 401k is a protected asset, at least from bankruptcy. Retirement assets are not generally considered liquid or current assets; I would not even bother listing these on the application.  


Sent from my iPad using Tapatalk


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## ronparise

am1 said:


> There is a lot to be said for honoring a debt.  But look at it from Wyndhams eyes.  You are more likely to continue to pay then someone who has stopped paying and late fees and compounded interest has made the amount owing a lot more then what was owed.
> 
> I am in favor of not allowing debts to be discharged.  That would benefit honest people as interest rates would be lower and bank and other lending companies would be more willing to lend money.



The implication that folks in a financial bind are not honest, is just wrong

The honesty of lenders like Wyndham that will make loans to anyone to buy something worth about 10% of its sale price...not so much.. f... 'em I say


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## alexadeparis

am1 said:


> I am in favor of not allowing debts to be discharged.  That would benefit honest people as interest rates would be lower and bank and other lending companies would be more willing to lend money.



I don't even know where to start with this. SO misinformed. Banks get tax write offs for bad debts. I guarantee that it would NOT lower interest rates for anyone else, or make banks any more willing to lend money, by preventing people that can't pay from being discharged. Plus it's in the constitution. How would not allowing debts to be discharged help the person who can't pay their bills? And because they can't afford to pay their bills due to their life circumstances that makes them dishonest?!? And finally, how does this uninformed opinion help the OP?


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## am1

ronparise said:


> The implication that folks in a financial bind are not honest, is just wrong
> 
> The honesty of lenders like Wyndham that will make loans to anyone to buy something worth about 10% of its sale price...not so much.. f... 'em I say



Never implied that people in a financial bind are not honest.  But people trying to make good on their debts are honest.  

Wyndham as well as other timeshare sellers are not honest.  We all know that and the government allows it.


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## am1

alexadeparis said:


> I don't even know where to start with this. SO misinformed. Banks get tax write offs for bad debts. I guarantee that it would NOT lower interest rates for anyone else, or make banks any more willing to lend money, by preventing people that can't pay from being discharged. Plus it's in the constitution. How would not allowing debts to be discharged help the person who can't pay their bills? And because they can't afford to pay their bills due to their life circumstances that makes them dishonest?!? And finally, how does this uninformed opinion help the OP?



If people were forced to honor their debts they would hopefully make better choices.  Some would second guess a retail timeshare purchase and avoid this whole mess completely.  

Less tax write offs for banks means the government would need to tax us less leaving more money in our pockets to stimulate the economy.  

I do think if lenders were less likely to have to deal with defaults then interest rates would be lower.  

People who cannot pay their bills are not dishonest but people who do when they can are honest.


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## Bigrob

Rather than liquidating your 401K, you could take a loan against it, use it to pay off the loan on the TS, then sell (yes, you should get something out of it, as Wyndham points contracts do have some value now) the timeshare, which will eliminate the maintenance fee portion and also get you back something (admittedly a small fraction of the initial cost.)

The interest rate on your loan "to yourself" is usually pretty reasonable, you're paying the money back to yourself, no credit hit, and the amount should be lower because you've eliminated high interest rate plus the maintenance fees. 

The other thought of a home equity line would be worth considering too if there's room for it. Also the interest on a home equity loan is generally tax deductible.

But definitely do NOT liquidate the 401K and take the immediate tax hit plus 10% penalty. That would be the worst move you could make.


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## CO skier

GoChiefsorBust said:


> This is good to know, thank you!  NO major credit needs so I will definitely keep this in mind.  I've decided (already) to drop Plan D (tap into my 401K) from the table.  That's MY money; not Wyndham's!



You are absolutely correct.  Do not tap your 401K either directly or through a loan to pay off the $39,000 timeshare.  This is just sending good money, that you need to reserve for retirement, after bad.

Consult with some attorneys, but they do not work cheap.  Only you can decide if it is worth a few thousand dollars for an attorney to walk you through defaulting on the timeshare (and possibly stopping any harassing phone calls), or if it is worth it for you on your own to just stop paying on the TS, re-filing the hardship package after 3 or 4 months, and if that does not succeed, putting up with the harassing phone calls.  Either way, your credit score will suffer, but this is unavoidable.

A certain default percentage is built into these timeshare loans.  Don't feel bad that the best solution is to default.  You are just part of a larger statistical analysis.  It is not fair, but that is how the system is designed.

It won't be easy, but I hope you make the best decision.


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## GoChiefsorBust

am1 said:


> If people were forced to honor their debts they would hopefully make better choices.  Some would second guess a retail timeshare purchase and avoid this whole mess completely.
> 
> Less tax write offs for banks means the government would need to tax us less leaving more money in our pockets to stimulate the economy.
> 
> I do think if lenders were less likely to have to deal with defaults then interest rates would be lower.
> 
> People who cannot pay their bills are not dishonest but people who do when they can are honest.



I'm not sure I'm following your comment? The only "poor" choice we (me and STBX) made was not buying the TS via resale  .  3 years ago we could afford the payments and made them on time with no issue, as a married couple.  Due to some situations and poor financial management decisions on his part, there is hardly any money left over at the end of the month (I count about $53.00 between the both of us) to make the payment.  So I've been making late payments, or trying to put things on my credit card temporarily so that the things that are vital to me and my son (commuting, groceries, gas, his school payments, and my mortgage) are taken care of.  But I can't keep this up, not for the sake of "making memories."  Memories shouldn't run someone who is encountering an actual, legitimate life/finance change into the ground.  

I'm truly hoping....that perhaps Wyndham will offer me a deed in lieu of foreclosure.  I know it can happen, I just hope it can happen for US.


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## GoChiefsorBust

CO skier said:


> You are absolutely correct.  Do not tap your 401K either directly or through a loan to pay off the $39,000 timeshare.  This is just sending good money, that you need to reserve for retirement, after bad.
> 
> Consult with some attorneys, but they do not work cheap.  Only you can decide if it is worth a few thousand dollars for an attorney to walk you through defaulting on the timeshare (and possibly stopping any harassing phone calls), or if it is worth it for you on your own to just stop paying on the TS, re-filing the hardship package after 3 or 4 months, and if that does not succeed, putting up with the harassing phone calls.  Either way, your credit score will suffer, but this is unavoidable.
> 
> A certain default percentage is built into these timeshare loans.  Don't feel bad that the best solution is to default.  You are just part of a larger statistical analysis.  It is not fair, but that is how the system is designed.
> 
> It won't be easy, but I hope you make the best decision.



Thank you for your recommendations.  I slept on this and I am definitely not going to pull anything from my 401K.  The thought of even obtaining another loan makes my stomach churn, so that's out of the question as well.  

I believe I can put up with the harrassment.  IF it gets really bad, I'll change my phone number, and my STBX has already changed his; I don't *think *it's on file.  I was reading around the 'net last night and people had commented on other forums how they had requested a cancel of automatic payments, but they were still getting withdraws.  "Luckily" for me, over the weekend my debit card was compromised so my bank had to issue me a new one.  I'm DEFINITELY not giving Wyndham that information either!  Funny how that worked out.....


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## am1

GoChiefsorBust said:


> I'm not sure I'm following your comment? The only "poor" choice we (me and STBX) made was not buying the TS via resale  .  3 years ago we could afford the payments and made them on time with no issue, as a married couple.  Due to some situations and poor financial management decisions on his part, there is hardly any money left over at the end of the month (I count about $53.00 between the both of us) to make the payment.  So I've been making late payments, or trying to put things on my credit card temporarily so that the things that are vital to me and my son (commuting, groceries, gas, his school payments, and my mortgage) are taken care of.  But I can't keep this up, not for the sake of "making memories."  Memories shouldn't run someone who is encountering an actual, legitimate life/finance change into the ground.



That is a big poor choice to make.  A lot of us have made those same choices.  Even buying a timeshare resale can be a mistake but a lot smaller.  

There is nothing wrong with you defaulting but do not not expect Wyndham to help you.  It is their choice.


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## VacationForever

GoChiefsorBust said:


> Thank you for your recommendations.  I slept on this and I am definitely not going to pull anything from my 401K.  The thought of even obtaining another loan makes my stomach churn, so that's out of the question as well.
> 
> I believe I can put up with the harrassment.  IF it gets really bad, I'll change my phone number, and my STBX has already changed his; I don't *think *it's on file.  I was reading around the 'net last night and people had commented on other forums how they had requested a cancel of automatic payments, but they were still getting withdraws.  "Luckily" for me, over the weekend my debit card was compromised so my bank had to issue me a new one.  I'm DEFINITELY not giving Wyndham that information either!  Funny how that worked out.....



Often the bank will move automatic payment to the new account.  The only safe way is to close out all accounts from that bank and move your $ to another bank.


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## comicbookman

sptung said:


> Often the bank will move automatic payment to the new account.  The only safe way is to close out all accounts from that bank and move your $ to another bank.



If the autopayment goes directly to the bank account and it does not change there is nothing to move.  Only payments scheduled by the account owner using the banks systems can be moved if an account number is changed..  If the autopayment uses the debit card account number, and the new card has a different number, then any attempt to charge the old card number will be declined.  The bank will not move an outside debit from an old account to ta new one.


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## Passepartout

GoChiefs, if you are looking for any help from Wyndham, re: letting you return a deed in lieu of foreclosure, you're going to have to default for a while. As long as you keep making payments, they are not going to see any hardship. Wyndham spends many thousand$ per contract in marketing costs, commissions, salesrooms, breakfasts, etc. etc. etc. and they are not going to let an income stream be interrupted easily.

You seem to be resigned to 'start the foreclosure process', so STOP PAYING. Nothing will prod them off the fence more quickly than defaulting. And when someone calls 'to set up a payment schedule', simply tell them (or write them) that they are not getting another cent from you or EX, and to either take back the deed, or foreclose. And be quick about it. You don't have time for their foolishness.

I agree with changing banks. Simply changing account numbers or card numbers won't stop the debiting. The accounts will be automatically linked.

We truly wish you well, and that this 'bump in life's highway' will pass quickly without lasting damage.

Jim


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## Ty1on

Passepartout said:


> GoChiefs, if you are looking for any help from Wyndham, re: letting you return a deed in lieu of foreclosure, you're going to have to default for a while. As long as you keep making payments, they are not going to see any hardship. Wyndham spends many thousand$ per contract in marketing costs, commissions, salesrooms, breakfasts, etc. etc. etc. and they are not going to let an income stream be interrupted easily.
> 
> You seem to be resigned to 'start the foreclosure process', so STOP PAYING. Nothing will prod them off the fence more quickly than defaulting. And when someone calls 'to set up a payment schedule', simply tell them (or write them) that they are not getting another cent from you or EX, and to either take back the deed, or foreclose. And be quick about it. You don't have time for their foolishness.
> 
> I agree with changing banks. Simply changing account numbers or card numbers won't stop the debiting. The accounts will be automatically linked.
> 
> We truly wish you well, and that this 'bump in life's highway' will pass quickly without lasting damage.
> 
> Jim



Changing card numbers _will_ stop debiting, or it would defeat the purpose of replacing lost or compromised cards.

Every time I get a new debit card, I have to reboot all my autopayments or I start getting warnings from the vendors.


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## comicbookman

Passepartout said:


> I agree with changing banks. Simply changing account numbers or card numbers won't stop the debiting. The accounts will be automatically linked.
> 
> We truly wish you well, and that this 'bump in life's highway' will pass quickly without lasting damage.
> 
> Jim



Auto linking the accounts , without a request from the account holder would amount to theft  if old debit requests are honored.  No need to change banks, just accounts.  Otherwise any account that got compromised would force you to change banks.


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## Passepartout

OK. My bad. Don't change banks. The experts have spoken.


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## Ty1on

comicbookman said:


> Auto linking the accounts , without a request from the account holder would amount to theft  if old debit requests are honored.  No need to change banks, just accounts.  Otherwise any account that got compromised would force you to change banks.



This is 3 years old and policies may have changed by now:

http://www.huffingtonpost.com/2012/01/31/zombie-checking-accounts-_n_1245065.html

This relates that banks can REOPEN a closed account if a an autopayment or deposit hits.  Even if the customer has left the bank entirely.

Also, the Fed requires banks to block incoming autopayments if you have notified the bank that you no longer authorize the payments.  This article states that some banks require written and signed notification to cease authorization within 14 days of verbal notification.  I assume the bank would block the authorization immediately upon verbal......  

http://bucks.blogs.nytimes.com/2010/10/04/how-to-stop-rogue-automatic-payments/?_r=0


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## GoChiefsorBust

My card was compromised 2 years ago and I had to get a new one.  I was randomly checking my account online and saw that Wyndham hadn't taken their payments out.  When I called, the rep told me that they had been trying to process payment but it kept getting sent back; it was because my old card was no longer active.

I haven't made any changes to the process (I gave them my now-non functional debit card to update their records with), so they shouldn't be able to have any successful attempts.  Not that there's any money in their for them to pull!  I will, however, keep close watch on my account for any fradulent behavior......


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## raygo123

Man I can't even imagine what your going through.
We hope that Wyndham has compassion. 
For those who have no debt, at least there is resale and
Ovation.

Sent from my Nexus 7 using Tapatalk


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## comicbookman

Ty1on said:


> This is 3 years old and policies may have changed by now:
> 
> http://www.huffingtonpost.com/2012/01/31/zombie-checking-accounts-_n_1245065.html
> 
> This relates that banks can REOPEN a closed account if a an autopayment or deposit hits.  Even if the customer has left the bank entirely.
> 
> Also, the Fed requires banks to block incoming autopayments if you have notified the bank that you no longer authorize the payments.  This article states that some banks require written and signed notification to cease authorization within 14 days of verbal notification.  I assume the bank would block the authorization immediately upon verbal......
> 
> http://bucks.blogs.nytimes.com/2010/10/04/how-to-stop-rogue-automatic-payments/?_r=0



only some banks, and only for incoming funds according to the article.  Not the same thing.


----------



## Ty1on

comicbookman said:


> only some banks, and only for incoming funds according to the article.  Not the same thing.



"But if an account is reopened, however, and there's no money there, a person could get hit with an overdraft fee to fund an account maintenance fee or an automatic payment."

You're right, sort of.

If the bank reopens your account to accept a deposit or credit, and then an autopayment hits, it gets paid.


----------



## Talent312

Close all accounts at your bank, instruct the bank not to accept any more drafts, and
... Change banks. _Do not tell anyone where you're banking._

Collection Calls: If you don't have one already, get a phone w-voice caller ID.
Let anyone who you don't know, and "unknown caller," can go to voice mail.
You could even drop your landline and get an internet VoiP phone with a new #.
Or you can pay a lawyer to write a collections agency to route all calls thru him.

Your 401(k) is exempt from creditors and cannot be touched, even after judgment.
Offer them a deed in lieu of foreclosure, and that should clear your conscience.
.


----------



## bogey21

Seems to me that instructing the Bank not to accept any auto payments will do the trick without having to close your Bank Account.

George


----------



## GoChiefsorBust

Good morning!  I've been reading the comments / suggestions on how to handle the bank situation.

As of this morning, I still have $20.00 in my account; woo hoo!  There was no indication of a negative balance.  HOWEVER.  I am heeding the good advice I've read and have already done the following:

1. Canceled the free overdraft service that I had set up for my account.  This is where I had my "main" account tied to my secondary account to cover any overdrafts.

2. I'm on hold with my bank to verbally direct them to NOT accept any payment attempts from Wyndham.  I have the two seperate amounts, and how it shows up on my account.

3. Ensure that I HAVE updated my card information with the people who need it:  gas, electricity, water, commuter transit, etc.  THAT part I forgot to do!

If all goes well, and I still don't see anything being attempted on Saturday morning, I'll know for sure I'm "in the clear" and Wyndham can't try to wipe me out.....


----------



## GoChiefsorBust

And here's a new question.  I had made arrangements to spend Christmas and New Year's in Florida with my son.  I had reservations at Pompano Beach ( I believe it was called the Sea Gardens?) for 1 week, and then Bonnet Creek for the next week.  

I'm GUESSING that with me starting this process I will be unable to use my reservations.  Can this be confirmed or denied?  If I can't, I need Plan B which is to save my money (Which is doable, now that I'm no longer paying for Wyndham).

*For anyone who is wondering how I can afford to go to Florida: my parents live there. They will pay for me and my son to fly down, but their condo is small and my 2 siblings still live at home, so there's not enough room for all 6 of us to cohabitate.  Bonnet Creek (Orlando) may not be an issue because they have a fully paid TS with Orange Lake; we could stay with them there.  I'm more interested in the Pompano Beach arrangements.*

Thanks again.


----------



## A.Win

Rather than foreclose, have you thought about keeping it and trying to rent it? You should consider making an ARP reservation for a high demand week and renting it. This isn't easy but I personally think it is easier than the other options that are being discussed here.


----------



## am1

A.Win said:


> Rather than foreclose, have you thought about keeping it and trying to rent it? You should consider making an ARP reservation for a high demand week and renting it. This isn't easy but I personally think it is easier than the other options that are being discussed here.



The amount owing is too much to overcome with rental payments.  Renting timeshares is not an easy thing to do.


----------



## Ty1on

A.Win said:


> Rather than foreclose, have you thought about keeping it and trying to rent it? You should consider making an ARP reservation for a high demand week and renting it. This isn't easy but I personally think it is easier than the other options that are being discussed here.



There is a mortgage payment also involved.


----------



## Ty1on

GoChiefsorBust said:


> And here's a new question.  I had made arrangements to spend Christmas and New Year's in Florida with my son.  I had reservations at Pompano Beach ( I believe it was called the Sea Gardens?) for 1 week, and then Bonnet Creek for the next week.
> 
> I'm GUESSING that with me starting this process I will be unable to use my reservations.  Can this be confirmed or denied?  If I can't, I need Plan B which is to save my money (Which is doable, now that I'm no longer paying for Wyndham).
> 
> *For anyone who is wondering how I can afford to go to Florida: my parents live there. They will pay for me and my son to fly down, but their condo is small and my 2 siblings still live at home, so there's not enough room for all 6 of us to cohabitate.  Bonnet Creek (Orlando) may not be an issue because they have a fully paid TS with Orange Lake; we could stay with them there.  I'm more interested in the Pompano Beach arrangements.*
> 
> Thanks again.



Once you go delinquent on either fees or loan payments, any use of your ownership is suspended.


----------



## am1

GoChiefsorBust said:


> I'm GUESSING that with me starting this process I will be unable to use my reservations.  Can this be confirmed or denied?  If I can't, I need Plan B which is to save my money (Which is doable, now that I'm no longer paying for Wyndham).



100% confirmed.  Wyndham is not going to allow someone to default and still have access to their account.  

Christmas is a very popular time in Orlando.  Rents are high.


----------



## GoChiefsorBust

Hello A.Win, I did think about renting, but if I did happen to do so, it wouldn't be enough to cover the costs involved; am1 and Ty1on, thank you for the confirmation.  I believe my best bet is to hit up AirBnB and see what's available.  Unless someone has other alternatives?

Apologies, I don't mean to steer this thread from "foreclosure" into "help GoChiefsorBust plan her holiday vacation"!!!!

*Note:  Just found a GREAT rental (entire house) in the area I'm looking for, for the entire period of time I need on AirBnB for only $300 total.  The person is an airsteward and is never home.  I think I'm set, but am always open to suggestions.*


----------



## Explorer7

GoChiefsorBust said:


> Hello A.Win, I did think about renting, but if I did happen to do so, it wouldn't be enough to cover the costs involved; am1 and Ty1on, thank you for the confirmation.  I believe my best bet is to hit up AirBnB and see what's available.  Unless someone has other alternatives?
> 
> Apologies, I don't mean to steer this thread from "foreclosure" into "help GoChiefsorBust plan her holiday vacation"!!!!
> 
> *Note:  Just found a GREAT rental (entire house) in the area I'm looking for, for the entire period of time I need on AirBnB for only $300 total.  The person is an airsteward and is never home.  I think I'm set, but am always open to suggestions.*


 Make sure its legit. Lots of scams use lower than makrket prices becvause the owner is overseas etc. Also I saw somewhere in the previouse post that Wyndham simeply foreclose and does not sue or sell the mortgage debt deficit to someone else, it that is so that would be a very big deal not to have to worry about garnishments etc down the road using the hardship info details they requested.


----------



## GoChiefsorBust

Good Morning Explorer7 (and others),

I did get a response back from the AirBnB host; it's too far out to make a reservation, so I have to resubmit my request in October.  Bummer.  On another note, it's interesting how you bring up garnishments.  I didn't get paid this morning.  My first thought was that Wyndham took all of my money, regardless of all the precautions I took to ensure otherwise.  Then I remembered that the Wyndham payment was less than my paycheck, so I would've at least seen SOMETHING in my account.  Well, now I'm doubly happy that I didn't attempt to rob Peter to pay Paul this week!  I have something new to figure out this weekend.....


----------



## Ty1on

GoChiefsorBust said:


> Good Morning Explorer7 (and others),
> 
> I did get a response back from the AirBnB host; it's too far out to make a reservation, so I have to resubmit my request in October.  Bummer.  On another note, it's interesting how you bring up garnishments.  I didn't get paid this morning.  My first thought was that Wyndham took all of my money, regardless of all the precautions I took to ensure otherwise.  Then I remembered that the Wyndham payment was less than my paycheck, so I would've at least seen SOMETHING in my account.  Well, now I'm doubly happy that I didn't attempt to rob Peter to pay Paul this week!  I have something new to figure out this weekend.....



Even IF a creditor moved to garnish you, it wouldn't happen in the first couple months of delinquency.  They would have to show the court they made an earnest effort to collect from you before they could get a judgement.


----------



## VacationForever

Ty1on said:


> Even IF a creditor moved to garnish you, it wouldn't happen in the first couple months of delinquency.  They would have to show the court they made an earnest effort to collect from you before they could get a judgement.



Plus the employer is obligated to forward a copy of the garnishment notice to your home before garnishment starts.


----------



## Ty1on

sptung said:


> Plus the employer is obligated to forward a copy of the garnishment notice to your home before garnishment starts.



Oh and I believe garnshments are limited to 50% of net, but I'm not sure about that one.


----------



## GoChiefsorBust

I can definitely say that I've always learned a lot from this forum!  

For a financial update:  Looks like no one in my office got paid this week; there is speculation that we will receive our checks on September 1st.  One mystery down woo hoo!


----------



## scootr5

GoChiefsorBust said:


> I can definitely say that I've always learned a lot from this forum!
> 
> For a financial update:  Looks like no one in my office got paid this week; there is speculation that we will receive our checks on September 1st.  One mystery down woo hoo!



Speculation? I'd be asking where it's at on Monday....


----------



## GoChiefsorBust

Well, technically we are supposed to get paid on a Wednesday, but our banks usually pay us on a Saturday.  A few employees think that we are getting paid on September 1st because finance didn't want to pay us 3 times in August.  Just a guess ("speculation"), but I can believe it.  If we get paid on Monday, I wouldn't complain LOL


----------



## VacationForever

GoChiefsorBust said:


> Well, technically we are supposed to get paid on a Wednesday, but our banks usually pay us on a Saturday.  A few employees think that we are getting paid on September 1st because finance didn't want to pay us 3 times in August.  Just a guess ("speculation"), but I can believe it.  If we get paid on Monday, I wouldn't complain LOL



Side topic but this is cannot be good.  Employers are to comply with whatever is in their policy as to when their employees get paid.  If I have a direct debit item in my bank account, payment will not go through when I don't get paid on the date that I am supposed to be paid.


----------



## GoChiefsorBust

sptung said:


> Side topic but this is cannot be good.  Employers are to comply with whatever is in their policy as to when their employees get paid.  If I have a direct debit item in my bank account, payment will not go through when I don't get paid on the date that I am supposed to be paid.



I wish everyone thought that way.  I had a few things that were on automatic withdraw and I had to make early morning phone calls to delay them!  I did get paid, finally, so all is right with the world.  For now LOL

As of this morning, there have been no attempts to withdraw any Wyndham money.  Thanks to the good suggestions of the members here, I took all the necessary precautions; I even moved the rest of my money into a separate account I created(same bank), so there would be nothing for them to take if they "happened" to find a financial loophole.  Now I'm just marking down the time for the calls to start.  According to one post, I need to sit tight for about a month or so........


----------



## GoChiefsorBust

Today I received my Club Wyndham Plus Assessment Statement.....the bill has my monthly charge on it, plus a Billing Service Charge of $8.00.  On the bottom of the bill there's 8 sections:

Previous Balance (0.00)  Payments (0.00)  Adjustments (0.00) New Charges (my assessment + 8.00)  Credit (0.00)  Collection Fee (0.00) Late Fee (0.00) and Total Due

The payment due date is 9/4/2015.  I'm guessing when they realize I'm not paying, the next Assessment Statement will then list a Late Fee.  It says on the form that "Assessments more than 30 days past due may be subject to a $15 late fee and interest charges as applicable by law.  *New* reservations will be blocked when an assessment becomes more than 60 days past due.  All outstanding reservations will be cancelled when an assessment becomes more than 90 days past due."

The funny thing is I also received another piece of correspondence from them, dated the same date as my Assessment Statement.  Guess what????  I qualify for a pre-approved loan to purchase a vacation ownership.  LOL


----------



## GoChiefsorBust

Just received my first call from Wyndham Collections.  Lady informed me I was 30 days late on payment; would I like to arrange a payment today?  I said no.  She hesitated.  Then said, would you like to arrange for a payment plan.  Again I said no.  I informed her that I had already submitted my financial hardship package which was declined, and I, nor my husband had no money to put towards Wyndham due to our situation.

She said,your account is delinquent.  I said, yes.  And I'm sure we will eventually end up going through the foreclosure process.  She stated that if so, I would mess up my credit for 7 to 10 years, it would go through either Wyndham or a 3rd Party collection...I said I understand.  But my package was denied, so I guess foreclosure is my only option, right?  She said, well, we could work out some payment arrangements.  I told her.....I.Have.No.Money.  She said ok, well, is my address xxxxx, which I confirmed.  She then told me that if I had any questions, I could take down her number.  I told her that wouldn't be necessary.....  Then we wished each other a great day and hung up.  I hope I wasn't too rude and abrupt, but I didn't want to give an indication that I would entertain making any type of payment.  Any suggestions / feedback for future interactions?


----------



## Ty1on

GoChiefsorBust said:


> Just received my first call from Wyndham Collections.  Lady informed me I was 30 days late on payment; would I like to arrange a payment today?  I said no.  She hesitated.  Then said, would you like to arrange for a payment plan.  Again I said no.  I informed her that I had already submitted my financial hardship package which was declined, and I, nor my husband had no money to put towards Wyndham due to our situation.
> 
> She said,your account is delinquent.  I said, yes.  And I'm sure we will eventually end up going through the foreclosure process.  She stated that if so, I would mess up my credit for 7 to 10 years, it would go through either Wyndham or a 3rd Party collection...I said I understand.  But my package was denied, so I guess foreclosure is my only option, right?  She said, well, we could work out some payment arrangements.  I told her.....I.Have.No.Money.  She said ok, well, is my address xxxxx, which I confirmed.  She then told me that if I had any questions, I could take down her number.  I told her that wouldn't be necessary.....  Then we wished each other a great day and hung up.  I hope I wasn't too rude and abrupt, but I didn't want to give an indication that I would entertain making any type of payment.  Any suggestions / feedback for future interactions?



I think you did great.  I'm sure her performance is measured on getting people to pay.


----------



## GoChiefsorBust

Ty1on said:


> I think you did great.  I'm sure her performance is measured on getting people to pay.



Man, I hate to add a bad mark against her record then, but it can't be helped. I just kept reminding myself while she was talking, "unless she mentions a deed in lieu of foreclosure, or total forgiveness, there's nothing she can do for you."

I guess on a "positive" note, none of my other bills were late this month.  I actually had a little bit of extra money to pay for an unexpected expense that came up for my car.  I could actually breathe a little easier this pay period.....I do have guilt over not trying to sell plasma or bone marrow to make a TS payment (joke), but it can't be helped.....


----------



## Ty1on

GoChiefsorBust said:


> Man, I hate to add a bad mark against her record then, but it can't be helped. I just kept reminding myself while she was talking, "unless she mentions a deed in lieu of foreclosure, or total forgiveness, there's nothing she can do for you."
> 
> I guess on a "positive" note, none of my other bills were late this month.  I actually had a little bit of extra money to pay for an unexpected expense that came up for my car.  I could actually breathe a little easier this pay period.....I do have guilt over not trying to sell plasma or bone marrow to make a TS payment (joke), but it can't be helped.....



Hmmm, I bet I could afford Hawaii if I start donating bone marrow.....


----------



## GoChiefsorBust

Ty1on said:


> Hmmm, I bet I could afford Hawaii if I start donating bone marrow.....



Couldn't we all?


----------



## vacationhopeful

Ty1on said:


> Hmmm, I bet I could afford Hawaii if I start donating bone marrow.....





GoChiefsorBust said:


> Couldn't we all?



You guys deserve the following info/comment:

Did you know the means to collect bone marrow is to DRILL a HOLE into your hip socket? And those HOLES will always show up on any future X-rays of your hip. 

So which Hawaii trip will be the Left Hip (Kauai?) and which will be the Right Hip (Big Island?)?. Make yourself a photo book for each trip ... so as WHEN you encounter issues later in life ... you can show WHERE you went for the money from which hip .... esp if you do it several times. :ignore:


----------



## Ty1on

vacationhopeful said:


> You guys deserve the following info/comment:
> 
> Did you know the means to collect bone marrow is to DRILL a HOLE into your hip socket? And those HOLES will always show up on any future X-rays of your hip.
> 
> So which Hawaii trip will be the Left Hip (Kauai?) and which will be the Right Hip (Big Island?)?. Make yourself a photo book for each trip ... so as WHEN you encounter issues later in life ... you can show WHERE you went for the money from which hip .... esp if you do it several times. :ignore:



Pfft, my hips are worthless anyway.


And HAWAII!!!


----------



## vacationhopeful

Ty1on said:


> Pfft, my hips are worthless anyway.
> 
> 
> And HAWAII!!!



Won't be able to swing those "hole-y" hips with the beat of the hulu music....just your little finger will be a rocking & rolling.


----------



## Ty1on

vacationhopeful said:


> Won't be able to swing those "hole-y" hips with the beat of the hulu music....just your little finger will be a rocking & rolling.



You mean I can sit there like a lump on a log?  Awesome!


----------



## GoChiefsorBust

Even after reading that.......call me Hawaii bound!  I dont need to move much laying on a beach right?  LOL


----------



## GoChiefsorBust

Even after my conversation with the lady, I've received 3 more calls from that same number.  I've added it to my phone's block list; let's see if they call from a different number.  Each time they've called they haven't left a message....


----------



## Ty1on

GoChiefsorBust said:


> Even after my conversation with the lady, I've received 3 more calls from that same number.  I've added it to my phone's block list; let's see if they call from a different number.  Each time they've called they haven't left a message....



They are going to continue calling until they hit some point where they code you as "collection efforts exhausted."


----------



## GoChiefsorBust

Ahhh.  Got it.  For some reason I figured (naively?) that me telling her upfront I wasn't paying would be enough....


----------



## biggredd

Just FYI under a the Fair credit act you can send a written letter to any creditor saying you will not pay and want no further contact. They have to stop calling you and any further communications has to be for legal proceedings. Good luck with getting back on your feet. Divorces are rough. Credit can be rebuilt. It took me years to bounce back. 30,000 in collections so I  almost didn't get my security clearance when I joined the navy.  The hit on your credit disappears 7 years from your first delinquency.


Sent from my iPad using Tapatalk


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## GoChiefsorBust

biggredd said:


> Just FYI under a the Fair credit act you can send a written letter to any creditor saying you will not pay and want no further contact. They have to stop calling you and any further communications has to be for legal proceedings. Good luck with getting back on your feet. Divorces are rough. Credit can be rebuilt. It took me years to bounce back. 30,000 in collections so I  almost didn't get my security clearance when I joined the navy.  The hit on your credit disappears 7 years from your first delinquency.
> 
> 
> Sent from my iPad using Tapatalk



Biggredd thanks for the information; even with my attempt to block their number they called again this evening, but it only rang once before going into "block" mode.  I will try writing a letter and report back on that.  Sorry to hear about your own difficulty; I hope all is better now.  You said 7 years; the person I spoke to claimed 7 to 10....I'm guessing that was a scare tactic on her part


----------



## biggredd

Thanks. After years of work I'm close to debt free with clean credit. It just takes time and patience. Transitioning to cash only purchases helped even though it was very hard. After dealing with collection agencies for years that prey on ignorance, I educated myself. You can do it. I lost a car and sold my house just before foreclosure. Got laid off and couldn't find work in 2007. I had a wife with many health problems that couldn't work and didn't have enough quarters employed to get disability. I ended up joining the navy and it took years to fix my mess. Now I'm a full time student working towards a bs/ms in engineering physics with 2 years to go! Just remember that there may be some tough times ahead, but you can do it and come out better on the other side. Good luck to you and never believe a collection agent and get all offers in writing. Read up on your rights as well. 


Sent from my iPad using Tapatalk


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## GoChiefsorBust

biggredd said:


> Thanks. After years of work I'm close to debt free with clean credit. It just takes time and patience. Transitioning to cash only purchases helped even though it was very hard. After dealing with collection agencies for years that prey on ignorance, I educated myself. You can do it. I lost a car and sold my house just before foreclosure. Got laid off and couldn't find work in 2007. I had a wife with many health problems that couldn't work and didn't have enough quarters employed to get disability. I ended up joining the navy and it took years to fix my mess. Now I'm a full time student working towards a bs/ms in engineering physics with 2 years to go! Just remember that there may be some tough times ahead, but you can do it and come out better on the other side. Good luck to you and never believe a collection agent and get all offers in writing. Read up on your rights as well.
> 
> 
> Sent from my iPad using Tapatalk


Thank you for your encouraging words; I appreciate it


----------



## alexadeparis

GoChiefsorBust said:


> Biggredd thanks for the information; even with my attempt to block their number they called again this evening, but it only rang once before going into "block" mode.  I will try writing a letter and report back on that.  Sorry to hear about your own difficulty; I hope all is better now.  You said 7 years; the person I spoke to claimed 7 to 10....I'm guessing that was a scare tactic on her part



All public record items like lawsuits and judgments are allowed to remain on your credit report for ten years. Longer if they are revived.


----------



## uscav8r

GoChiefsorBust said:


> ...



On a side note, you must be going bust after that debacle of a final minute versus the Broncos tonight.

That was about the most heartbreaking finish to a game I think I have ever seen.

Sent from my iPad using Tapatalk


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## GoChiefsorBust

alexadeparis said:


> All public record items like lawsuits and judgments are allowed to remain on your credit report for ten years. Longer if they are revived.



Oh!  Didn't know that....so she was telling the truth then?  Thank you!


----------



## GoChiefsorBust

uscav8r said:


> On a side note, you must be going bust after that debacle of a final minute versus the Broncos tonight.
> 
> That was about the most heartbreaking finish to a game I think I have ever seen.
> 
> Sent from my iPad using Tapatalk



I'm traumatized to say the least....I had to rewind the TV because I couldn't believe what happened


----------



## GoChiefsorBust

So they are ramping up their calls.  They called 2x last night, and 1x so far this morning.  The call block on my phone actually works because the phone doesn't ring, so I'm not being bothered.  It's only when I get on my phone for something else do I see the missed call notification.  I'm also going to spend this weekend crafting a Do Not Call letter, per the suggestion of a helpful poster; I want to see if that stops the calls all together, postpones them, or have no effect at all.


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## GoChiefsorBust

Update.  Last night received 2 billing statements for assessments and loan balance.  These had a big PAST DUE marked on them.  Received 2 emails informing me of Wyndhams super easy payment plans.... Just 10 min ago received strange call from someone  saying I called and left a message for him to call me back.  I said nope.  As SOON as I hung up the blocked number from Wyndham Financials tried to call! Now I have a new number to block....they were trying to see if my phone number was still valid perhaps?


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## GoChiefsorBust

An Update!

So instead of 702.562.8350 (Nevada) calling me (and getting automatically rejected), the number has now switched to 1.888.739.4031 (which has also been placed on the call rejection list).

A funny thing that happens when calls are rejected; the Wyndham Rep on the other end goes to my voicemail.....but they don't know that they are being recorded!  I have heard and laughed at so many 40 second recordings where a rep is waiting for me to answer the phone and is either having a conversation with someone sitting next to them, starts singing a song, or in today's case, begins to rant about "hating her G***amn life."  True story.  I was mad her rant cut off at the 40 second mark  :rofl:


----------



## taterhed

Just people humpin every day for a living.  Call work is neither fun nor well paid.

 I understand the humor of it all, but remember; the people getting paid to do their job are NOT the people who sold you the 'bill of goods' nor are they evil or vindictive.

 As long as they get paid, they'll keep working (probably).

 good luck.
 I'm sure we've all had a collections call (for some reason or another) at some point in our lives.


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## GoChiefsorBust

Not being vindictive at all!  I guess you would've had to hear the voicemail but her hating her life segwayed into wanting to kick (couldn't make out their name)'s @$$....to how they better stop.....she was hyping herself up.  Trust me I did calls for MCI Telecomm for 2 years, I know the pain well


----------



## alexan56

*Help for friend*

Help for friend: She lives in Venezuela and "purchased" a 150k wyndham account. She recently got into some debt and has cancelled her Credit card (Aug 15). Will wyndham come after her? As she is overseas and doesnt mind the bad credit.

She has asked me to get this question out as she  has  had a few letters mailed to her address!!


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## GoChiefsorBust

Update:

Got a notice from Wyndham.  The usual, you're late, you're now 60 days overdue.  You can no longer use your reservations or make future ones.  I recall from last month it said 90 days, so I looked at both statements.  The one from last month was from Wyndham HOA / assessments, and THIS statement is from the actual "loan" portion of Wyndham.  So note:  If you are only delinquent on your HOA, you have 90 days before they revoke your privileges; if you're delinquent on your loan, you only have 60 days.  Receiving about 2 or 3 phone calls a day, still going straight to voicemail.  Haven't received anything from them in regards to my Cease and Desist letter I sent.........


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## GoChiefsorBust

A new phone number to block, this time from Wyndham Collections (I guess Ive graduated from talking to a Wyndham Financials rep).  Since it was a new number I actually answered but knew as soon as I did it was them.  Wyndham Collections is very straightforward, no nonsense.  We went through the whole "you're late/when are you paying" bit, but this time when I said nope not happening, she went straight into reciting some legal statement about reporting to credit bureau, the calls will not stop, etc.; basically once we hit 160 days non payment it's war.  I said ok, thanks for the info and hung up and promptly blocked the number.  As SOON as I did that I received 3 rejected calls back to back and have been doing this for the past week.  As I said, doesn't bother me since all 3 of their numbers are now blocked.  A "positive" is that they dont call on Sundays.


----------



## silentg

Have you considered renting your timeshare? This may help to make the yearly payment? What did you buy that put you in such a hole?


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## GoChiefsorBust

Hello!  I wouldnt make enough renting it out to cover my costs.  I have 308k points which equals to a monthly payment of roughly $800+/ mo.....


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## GoChiefsorBust

And the timeshare loan isnt paid off.  Purchased it in 2012......


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## raygo123

Have you considered loan consolidation?  If both names are on the contract, will bankruptcy work if he does no claim as well?

Sent from my Nexus 7 using Tapatalk


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## GoChiefsorBust

Thought about it as an option but the honest truth is, now that I'm down to one income I simply can't afford to make any payments on it.  I have no other debts except the timeshare and my mortgage (and i use my money to make sure me, my son, and pets have a roof over our heads first).


----------



## raygo123

If your still married, you may just be shifting the financial responsibility to him

Sent from my Nexus 7 using Tapatalk


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## GoChiefsorBust

raygo123 said:


> If your still married, you may just be shifting the financial responsibility to him
> 
> Sent from my Nexus 7 using Tapatalk



All things considered, I'll be ok if that were true......


----------



## GrayFal

GoChiefsorBust said:


> Thought about it as an option but the honest truth is, now that I'm down to one income I simply can't afford to make any payments on it.  I have no other debts except the timeshare and my mortgage (and i use my money to make sure me, my son, and pets have a roof over our heads first).



You received really good advice early on in this thread and you are doing what you need to do.
Thanks for the updates, it will definitely help others in the future who are dealing with the same situation as you.


----------



## GoChiefsorBust

GrayFal said:


> You received really good advice early on in this thread and you are doing what you need to do.
> Thanks for the updates, it will definitely help others in the future who are dealing with the same situation as you.



My pleasure, GrayFal!  I'm staying the course and will see this through until the end.


----------



## paxsarah

Seconded. I hope I won't need this advice in the future, but you're providing such a helpful chronicle for reference. And handling everything with such aplomb!


----------



## GoChiefsorBust

paxsarah said:


> Seconded. I hope I won't need this advice in the future, but you're providing such a helpful chronicle for reference. And handling everything with such aplomb!



I appreciate your kind words  paxsarah; thank you!


----------



## Cdn Gal

This too shall pass...you will get through this financial and emotional hurdle and will be stronger because of it.  Wishing you all the best, and thank you for the updates.  Take care of you!


----------



## GoChiefsorBust

Cdn Gal said:


> This too shall pass...you will get through this financial and emotional hurdle and will be stronger because of it.  Wishing you all the best, and thank you for the updates.  Take care of you!



Cdn Gal, I have to remind myself to do this almost every day.  It's getting easier, but I do wrestle with some guilt.....you know, the guilt of, there are people who are going to have to pick up the costs since I'm going through this.  But I have to keep saying to myself, take care of you (and your babies) FIRST.  That's what's most important right now.  And with me really focusing on my budget and making every penny count, I'm doing just that.  Change is scary, but sometimes necessary


----------



## Tony321

Any update GoChiefs? I'm thinking of going down this road.


----------



## GoChiefsorBust

Tony321 said:


> Any update GoChiefs? I'm thinking of going down this road.



Hello!  Nothing major has happened yet.  I'm up to 6 different phone numbers that attempt to call.....I was still getting the 'nice' Wyndham emails about all the great places to visit so I unsubscribed from them.  Occasionally I'll check my voicemail to see if someone has left an actual message, but it's all just the automated 'please call us, valued Wyndham member....."


----------



## JudyS

GoChiefsorBust said:


> Cdn Gal, I have to remind myself to do this almost every day.  It's getting easier, but I do wrestle with some guilt.....you know, the guilt of, there are people who are going to have to pick up the costs since I'm going through this....


I actually think no one is "going to have to pick up the costs." La Casada is a very popular resort. So, your room there will not sit empty and the other owners there will not be stuck paying your MFs.

Wyndham will get less money from you than you originally promised, that is true. But, they probably lied to you, or at least misled you, in order to get you to make that promise in the first place. 

And, you are willing to give them the timeshare back. If it was really worth what they charged you, they'd have no trouble selling it again. The only reason they are coming after you is that their product is way overpriced. Because their product is so overpriced, it's generally easier for Wyndham to harass existing owners into paying than it is for them to find a new buyer. 

Wyndham is making your life miserable, and they are the ones who should feel guilty.


----------



## GoChiefsorBust

Thanks for the pep talk Judy S.......I was thinking about submitting a new financial hardship package, just to see what would happen.  The more I think about it, the more I figure what the heck.  I'll report back on the results......


----------



## GoChiefsorBust

Good morning! Nothing major has happened yet, even though I'm closing in on 120 days delinquency.  2 days before Thanksgiving I received no blocked calls, none over the weekend either.  Yesterday they started back up.  

In chatting with the STBX husband he mentioned that when he went in for a job interview and had to pull his credit record the timeshare was on there as a negative.  I looked at MY credit report and it's not on there.  This made me think.....when we first signed up they used my credit score (it was much better than his) but if I recall correctly I noticed all the paperwork listed him as primary.  Maybe it's because he is the "man," or whatever, but we're both referenced as owners on subsequent documents.  I'll have to dig out the contract and re read it.  My point is, this may only affect his credit and not mine.  And to be honest, after all the crap he's put me through I figure this is his cosmic justice.

Anyways, he made mention of wanting to pay them off.  I told him NO, and besides where would he get $900/mo to take over the payments? That shut that down pretty quickly.  So I continue to wait.  No word back on my offer to them to take the timeshare back....at this point I'm betting nothing major happens until Jan 2016....


----------



## bogey21

Hang tough.  You are fighting the good fight.

George


----------



## DeniseM

GoChiefsorBust - We often have people come to TUG for advice like you have, but seldom do they stick around.

I know what you are going through is not fun, but by sharing the process here, you are performing a valuable service for others facing the same issues.

I just wanted to say that I appreciate it, and I hope you will continue to keep us up to date as you go through the process.


----------



## lll1929

Don't give up. They will offer the deed in lieu of foreclosure within the first 6 months.
I went through the same thing with Marriott in 2010, after I loss my job; along with settling with many creditors.  It only took a few years to re-build my credit to over 700.  In 2013, I refinanced my house and in 2015 I purchased a fairly nice car.


----------



## GoChiefsorBust

Thank you everyone for your suggestions and support!  I'm sticking with it, even though the "husband" is getting weak.  I have to keep him in this route as well.  

Just got my very first, super duper scary notice from Wyndham.  This is what it says:

Dear Mr. and GoChiefsorBust

Due to your failure to maintain your contractual obligation, Wyndham Vacation Resorts, Inc. will now begin proceedings to escalate collection efforts on your timeshare installment loan contract.  We are authorized to take whatever steps are necessary to secure payment.

*WE INTEND TO PURSUE THIS DEBT.
*


----------



## GoChiefsorBust

I think my post erased.  I will try again!  

Thank you all for the kind words and support, it truly means a lot to me.  My spouse is getting weak so I have to continuously keep him on the straight and narrow.  It's tiring.  But I'm not giving in.  I just received my first super duper scary letter from collections:

Dear Mr. and GoChiefsorBust

Due to your failure to maintain your contractual obligation, Wyndham Vacation Resorts, Inc. will now begin proceedings to escalate collection efforts on your timeshare installment loan contract.  We are authorized to take whatever steps are necessary to secure payment.  *WE INTEND TO PURSUE THIS DEBT*.  Amount Due: $2,643.91

To avoid the possible acceleration of the loan balance totaling $35,742.84 plus daily interest charges, please forward the amount due immediately.

(they then go on to list the 3 different ways to make a payment)......

***Notice*** (in small print) If debt of $600.00 or more has been cancelled due to non-payment, the creditor may be required by law to report the cancellation to the IRS.  If the creditor makes such a report, you will receive a copy of the form 1099-A filed with the IRS.  This office makes no representations about the tax consequences that any such reporting may have.  You should consult an independent tax advisor if you desire advice about any tax consequences which may result from a settlement.

Section 504 of the Fair and Accurate Credit Transaction Act requires the following notice:

We may report information about your account to credit bureaus.....yadda yadda yadda.

There's no mention / any scary letter from the MF people yet.  And in looking at the loan balance.....man.  Even paying on time for the past 2 years, there has been NO dent made on this loan.  We would've been paying (on time, with no issue) for the next 15 years.  Geeeesh.  

So I'm shredding this letter and going on to worry about my roof leaking. As a bonus, I thought I'd include a list of numbers to block and the times they call me every day:

9:06 am: (702) 562-8350
10:02 am: (888) 739-4028
11:40 am: (888) 739-4028
1:54 pm: (702) 562-8350
2:12 pm: (702) 562-8350
6:04 pm: (888) 739-4028
8:12 pm: (866) 812-9806 (sometimes will call again at 8:44 pm)


----------



## vacationhopeful

If more than 60 days late, Wyndham has a *$550+ COLLECTION FEE* in addition to all late fees due under your contract.

You should get a more up to date record of ALL charges and payments you made in the past. That is most likely WHY you have made NO DENT into your principal.

Find out how MANY of those collections fees you have been charged (quietly with no notice) and I bet your husband will NEVER waiver again ... even a little.


----------



## GoChiefsorBust

Vacationhopeful, you may be on to something!  I think he just really wants this job but he cant be the first person they've come across with credit issues.  I'll tell him to do what you suggested!


----------



## gmarine

If you want to avoid the calls send a certified letter to the collection agency and to Wyndam telling them not to contact you. 

http://www.consumer.ftc.gov/articles/0149-debt-collection


----------



## GoChiefsorBust

gmarine said:


> If you want to avoid the calls send a certified letter to the collection agency and to Wyndam telling them not to contact you.
> 
> http://www.consumer.ftc.gov/articles/0149-debt-collection



Gmarine, I will try your suggestion tomorrow and see if it works.  I know they had ignored my previous, not as professional notice to drop off a cliff   thank you!


----------



## ziravan

GoChiefsorBust said:


> Gmarine, I will try your suggestion tomorrow and see if it works.  I know they had ignored my previous, not as professional notice to drop off a cliff   thank you!



"In accordance with the Fair Debt Collections Practices Act, I'm hereby giving you written notice to immediately cease and desist any further attempts to contact me by phone.

Further attempts to harass me with multiple phone calls a day will be in violation of Federal Law."


----------



## mslsu5

DeniseM said:


> GoChiefsorBust - We often have people come to TUG for advice like you have, but seldom do they stick around.
> 
> I know what you are going through is not fun, but by sharing the process here, you are performing a valuable service for others facing the same issues.
> 
> I just wanted to say that I appreciate it, and I hope you will continue to keep us up to date as you go through the process.



I also agree.  I've looked in several places trying to find information on how this process works.  I wasn't able to find anything.  I have been following this as i am now going through the same process but I'm just beginning. 

I do have one question. Not sure if anyone know but thought I'd ask.  On my last call with Wyndham i was told after explaining my situation that if they have to do a short sale on my timeshare that the amount they write of will be reported as income for me and I'll have to pay taxes on that amount. Does anyone have any information about this?

Again,  thanks for posting this information.  Is definitely helping me in my process as well.  Very appreciative!!!


----------



## ronparise

mslsu5 said:


> I also agree.  I've looked in several places trying to find information on how this process works.  I wasn't able to find anything.  I have been following this as i am now going through the same process but I'm just beginning.
> 
> I do have one question. Not sure if anyone know but thought I'd ask.  On my last call with Wyndham i was told after explaining my situation that if they have to do a short sale on my timeshare that the amount they write of will be reported as income for me and I'll have to pay taxes on that amount. Does anyone have any information about this?
> 
> Again,  thanks for posting this information.  Is definitely helping me in my process as well.  Very appreciative!!!



If a debt or portion of the debt  is forgiven they can issue a 1099 that specifies the amount. Andt this amount is taxable income. This is what they said in the "scary" letter that you shredded "If debt of $600.00 or more has been cancelled due to non-payment, the creditor may be required by law to report the cancellation to the IRS. If the creditor makes such a report, you will receive a copy of the form 1099-A filed with the IRS. This office makes no representations about the tax consequences that any such reporting may have. You should consult an independent tax advisor if you desire advice about any tax consequences which may result from a settlement".


there was a time during the real estate crash a few years ago when the IRS said no tax would be due if it was your personal residence that was sold short or foreclosed, but that window has closed and of course a timeshare is not your personal residence. 

The creditor has two choices one would be to pursue collections and not forgive the loan and the second would be to forgive the loan and issue a 1099.  So getting a 1099 is actually a good thing. It will cost you some money, but it would mean this thing is behind you


It took me some time to wrap my head around the whole idea of owing taxes on money I never had, but it does make sense.  If I loan you money and you dont pay me back ie, you keep it, from the IRS point of view, thats income to you, and taxable.


----------



## paxsarah

ronparise said:


> This is what they said in the "scary" letter that you shredded



To be fair, it wasn't mslsu5 who shredded the letter, it was GoChiefsorBust. I'm guessing mslsu5 hasn't gotten that far into the process yet.


----------



## mslsu5

ronparise Thanks for this information. 

I also just got another call and you are 100% correct it's when they do a deed in lieu of foreclosure when this happens.  The previous caller misstated, so i wanted to be sure I corrected this information here so that others that are following have accurate information. 

Also, thanks paxsarah. I am just getting into the process, so i haven't received the scary letter yet.��

Thanks again for the information.  This is all very informative and helpful.


----------



## GoChiefsorBust

Hello Everyone, 

Mslsu5, good luck on going through this process.  I hope all works out well for you.

As a minor update, since receiving the official notice in the mail, they have ramped up their phone calls, and the latest one now comes in at 9:00 pm.  All numbers are still blocked, but I'm curious to see if my latest letter to their offices halts their calls completely.

Just a question though.....if they were (for some great reason) to offer me a deed in lieu of, would they notify me via phone or official mail......just thinking out loud.....


----------



## mslsu5

GoChiefsorBust Thanks and likewise.


----------



## bogey21

GoChiefsorBust said:


> Just a question though.....if they were (for some great reason) to offer me a deed in lieu of, would they notify me via phone or official mail......just thinking out loud.....



My guess is that it would be in writing.

George


----------



## GoChiefsorBust

bogey21 said:


> My guess is that it would be in writing.
> 
> George



This is good, since I don't want to unblock any of their numbers!!!


----------



## GoChiefsorBust

Hello!

Got a new letter in the mail today.  Wasn't in the normal white envelope with white and blue Wyndham stationary; this time the envelope was orange with yellow paper inside.  Also, was only addressed to the "husband" (where all other previous correspondence had both of our names on it).  It says:

"Dear "Husband"

You are probably wondering why we are sending you this one sheet of paper.  Honestly, it is because we have not been able to contact you for some time and need you to call us so that we can help you.  By not speaking with you, we have not had the opportunity to share with you a variety of solutions that may help you through whatever financial difficulty you may be experiencing.  Let us help you get your account back in good standing.

There are a number of options you may be able to take advantage of, including:

Late fee forgiveness program - crediting your account with any late fees you have paid since July 2015 and waiving any late fees due / Deferral - with either just one or two monthly payments paid this month, we can process a deferral on your account and bring your account completely current / Flexible monthly payments.

*It all starts with you making a call today*.  Please call 1-866-812-9806 and advise the agent that you are calling regarding this letter.  Our hours of operation are Mon-Tue 8 am - 8 pm, Wed-Thur 8 - 8 pm, Fri 8 - 5 pm, and Sat 6 - 10 am.  

Sincerely Ruddy Lemus, Wyndham Vacation Resorts"

So here's a few observations.  "Husband" was telling the truth about the negative mark being on his credit report only.  I checked mine today before knowing this letter was waiting for me and my score has stayed the same.  Awesome.

Next, the tone of this letter is much different from the earlier ones, and even my most recent "Scary Letter" where they were threatening legal action.  I THINK that "scary letter" was sent to try to get me/us to cave in and pay SOMETHING to prevent so-called legal proceedings.....And then they ramped up the phone calls but of course they were blocked so, no bother to me.

Then, I receive this "kind, oh so helpful" letter.  Where they want to give me (pretty good) options for bringing my account current.  But I have a problem.  I legitimately broke down my financial hardship and showed in my financial hardship package how I was negative at least $300 each month trying to maintain the timeshare and they rejected me (Ron Parise made a great comment that it was BECAUSE I was still paying them, but still!  LOL)

So now, after almost 6 months of them not getting a dime they NOW want to be helpful????  WHY couldn't they had offered this to me in the beginning????  Yes, I know, but we had NEVER missed a payment before, for 2+ years; we weren't deadbeats.  I just don't get it.  Anyways, I think this kind, helpful letter is to try to convince me ("husband") to call them and make a payment.  Sorry, couldn't do that even if I wanted to.  So now I'll wait for them to give me another scary letter instead.

In the meantime, I'm taking my son South for Christmas and New Years.....was able to save my money these past 6 months and rent 2 beautiful homes on AirBnB for less than a Wyndham payment.  Imagine that..........


----------



## GoChiefsorBust

Something else I noticed, before I get back to cleaning   The scary letter came on December 7th (the one threatening legal action).  The nice letter is dated December 8, yet showed up today (the 18th).......ooooooooh!!!!!!  Do you think that Wyndham holds on to the "nice" letter in the event the "scary" letter doesn't jump start people into making a payment????  Am I reading too much into this?  I'm just trying to crack the Wyndham code lol


----------



## Ozlander

Good Guy, Bad Guy routine.
Ruddy wants to be your friend, help you against the bad guys.

I went thru something like this ten years ago, different timeshare.
A part of the agreement for me signing over the deed to them was that no 1099 would be issued.


----------



## GoChiefsorBust

Ozlander said:


> Good Guy, Bad Guy routine.
> Ruddy wants to be your friend, help you against the bad guys.
> 
> I went thru something like this ten years ago, different timeshare.
> A part of the agreement for me signing over the deed to them was that no 1099 would be issued.



Ahhh got it.  But unless Ruddy offers a deed in lieu of, he  is of no help to me.  So not getting a 1099 was on your terms?  I didnt know you could negotiate....


----------



## GoChiefsorBust

Happy New Year everyone!

So last week I got a letter from Wyndham saying the usual, stating the amount overdue, only this time they included verbiage that stated that they had given me/us ample time to to respond and have the option to proceed legally against us.  Yup, ok.

Just now received 2 letters from them; one addressed to the both of us, and for the first time EVER, one addressed only to ME.  The one addressed to me only was their marketing letter to say that I was pre-approved for a loan of $50,000 and to contact them, yadda yadda.  Now, these offers had come to us before but ALWAYS addressed to the STBX husband.  Now I'm a person of interest LOL.  

The next letter was from Wyndham Club Plus stating the usual, our assessment is over 90 days past due, any reservations / points have been cancelled, contact someone to make payment arrangements.  In the shredder they both go.

The phone calls have dropped down to 3 a day.....not sure if my letters to them worked or if they are gearing up to turn the account over to collections.  Whatever the case I'm glad my voicemail box is becoming freed up again


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## raygo123

I guess I can expect an increase in my MF, thanks!

Sent from my Nexus 7 using Tapatalk


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## DeniseM

Have you read the entire thread?

The OP has already formally offered to deed it back to Wyndham in lieu of foreclosure.

She has already completed their hardship application.  

Both were denied.

She is going through a divorce and simply does not have the money to make the payments.

She is not abandoning it with a Viking Ship Company - she has jumped through all the hoops to give it back to Wyndham, and has been denied.

What would you have her do?


----------



## raygo123

Yes I read all!  Over the last 2 1/2 years on this site what has she learned?  Find another way to finance the loan to reduce payments?  No!  I WANT, is the buying factor, not if we can afford it.  Why should we feel for those that cannot control themselves?  This site attracts those poor soles who cannot control themselves, and to top it off, 308,000 points!  That's not one week, that's two in a two bedroom.  Yea I read it all, and others.  In the long run it cost ME money!  [political statement deleted]

Sent from my Nexus 7 using Tapatalk


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## GoChiefsorBust

raygo123 said:


> I guess I can expect an increase in my MF, thanks!
> 
> Sent from my Nexus 7 using Tapatalk



You're very welcome.  Enjoy 

And thanks, Denise.  Appreciate the support


----------



## DeniseM

raygo123 said:


> Yes I read all!  Over the last 2 1/2 years on this site what has she learned?  Find another way to finance the loan to reduce payments?  No!  I WANT, is the buying factor, not if we can afford it.  Why should we feel for those that cannot control themselves?  This site attracts those poor soles who cannot control themselves, and to top it off, 308,000 points!  That's not one week, that's two in a two bedroom.  Yea I read it all, and others.  In the long run it cost ME money!


Raygo123 - Since you seem to have information that no one else does, please explain exactly how she can refinance it?

*Who* exactly do you think will refinance a timeshare loan for someone going through a divorce?

Your statement shows how much you really do not understand how any of this works.


----------



## raygo123

Yea I guess not.  They probably have a neg balance on their home, so to refinancing that is out.  And two weeks was a must.  I'm sorry, but I have no sympathy.  It's not even so much the forclosure as it is the attitude.   Out of the millions that own a timeshare, what, 8,000 are on tug, and a few more thousand visit.  Of those others, all have the same story, how do I get out.

Sent from my Nexus 7 using Tapatalk


----------



## DeniseM

No one is asking for your sympathy - it's just a matter of looking at the facts _logically._

These are the facts - her ex-husband stopped paying his half of the mortgage payments.

In other words - he defaulted.

She cannot pay the full amount herself.

It doesn't matter if they have a negative balance on their home or a lot of equity - you cannot  refinance a mortgage in the middle of a divorce - that should be obvious!


----------



## raygo123

They couldn't even get that right.

Sent from my Nexus 7 using Tapatalk


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## DeniseM

raygo123 said:


> They couldn't even get that right.



Yeah - they should definitely try to save their marriage so they can make their timeshare payments…


----------



## wjappraise

raygo123 said:


> Yea I guess not.  They probably have a neg balance on their home, so to refinancing that is out.  And two weeks was a must.  I'm sorry, but I have no sympathy.  It's not even so much the forclosure as it is the attitude.   Out of the millions that own a timeshare, what, 8,000 are on tug, and a few more thousand visit.  Of those others, all have the same story, how do I get out.
> 
> Sent from my Nexus 7 using Tapatalk




Raygo123. 

While I appreciate your personal sense of financial commitment, I believe you are missing the point of this thread.  OP is not looking for a handout, not looking even for commiseration or advice.  She is simply sharing with us her journey.  The process is tiring and demoralizing.  And that's without your sanctimonious opining.  

I, for one, am fascinated by the process.  I don't have a loan on my Wyndham holdings, so there is no direct correlation for me. Yet I can empathize with making a decision that was poorly thought out, and then exacerbated by unanticipated twists in life. Can't you?  While I believe you will never be in this situation, how can you know what the future holds for you?  Please just ignore this thread if you have such a narrow viewpoint.  Just move on and read about how you can save money or get a better room. But let the rest of us enjoy the front row view the OP is providing to us. 

Wes.  


Sent from my iPhone using Tapatalk


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## raygo123

vacationhopeful said:


> You owe almost $50,000 on your timeshare loan?
> 
> Your soon to be ex ... he signed those loan papers also ... tell Wyndham where he works?
> 
> If you agreed to take over this in your NOT YET finalized divorice ... kick you lawyer's butt and redo the settlement agreement.
> 
> Shit happens ... BUT you can't take this hit on your credit for the next 10+ years ....


This makes sense.  Transfer TS into his name only.  You could use a quick claim deed.  Someone here could tell you who to use.  All that really does is transfer ownership.  You have to deal with loan.  

You may not stop the loan, but after the forclosure, Wyndham will take it back.  There is now no loan on it it.
More than likely as part of the settlement it will disappear.  

It is much easier for a man to rebuild his credit.  If you can do it, probably too late, get your name off the loan in the settlement.

Wyndham, transfer of ownership is done in the county of registration.  Now, Wyndham may not accept your change into "club Wyndham" $299.00 please.  Awwww

Sent from my Nexus 7 using Tapatalk


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## GoChiefsorBust

raygo123 said:


> This makes sense.  Transfer TS into his name only.  You could use a quick claim deed.  Someone here could tell you who to use.  All that really does is transfer ownership.  You have to deal with loan.
> 
> You may not stop the loan, but after the forclosure, Wyndham will take it back.  There is now no loan on it it.
> More than likely as part of the settlement it will disappear.
> 
> It is much easier for a man to rebuild his credit.  If you can do it, probably too late, get your name off the loan in the settlement.
> 
> Wyndham, transfer of ownership is done in the county of registration.  Now, Wyndham may not accept your change into "club Wyndham" $299.00 please.  Awwww
> 
> Sent from my Nexus 7 using Tapatalk



Who tinkled in YOUR Cheerios last night?  Let me give you cliff notes since you lack reading comprehension.  Ok?

1.  Was in a 2 income home.  WAS happily married and able to make payments for Wyndham quite.easily.  Got the amount of points we did because with 2 INCOMES it was EASILY affordable, we knew nothing about Tug, yadda yadda whatever.

2.  Husband has a douche moment.  No more reconciliation.  In midst of douche moment he racks up $40k worth of debt.  Can't make payments on Wyndham or anything else

3.  I take over expenses for EVERYTHING in the household including mortgage payment on primary residence and child's private school.  No other debt.  No car loans.  No student loans. No credit card debt. Only loans are Wyndham and mortgage

4. I inform Wyndham of financial situation.  Fill out hardship package.  Ask for a delay on payments.  Denied.  I file for divorce.  Send new financial package in 4 mo.  In the meantime I had been trying to make Wyndham payments alone to keep up my financial obligation.  Package is denied.  I get on Tuggs and decided to document the process because I researched but found no results on going through the process.

5.  Someone tinkles in your Cheerios.  

I appreciate constructive criticism but you are making assumptions about me.  Go away.  Or continue to troll.  Whatever gets you through the day.:zzz::whoopie:


----------



## Jason245

GoChiefsorBust said:


> Who pissed in YOUR Cheerios last night?  Let me give you cliff notes since you lack reading comprehension.  Ok?
> 
> 1.  Was in a 2 income home.  WAS happily married and able to make payments for Wyndham quite.easily.  Got the amount of points we did because with 2 INCOMES it was EASILY affordable, we knew nothing about Tug, yadda yadda whatever.
> 
> 2.  Husband has a douche moment.  No more reconciliation.  In midst of douche moment he racks up $40k worth of debt.  Can't make payments on Wyndham or anything else
> 
> 3.  I take over expenses for EVERYTHING in the household including mortgage payment on primary residence and child's private school.  No other debt.  No car loans.  No student loans.  Only loans are Wyndham and mortgage
> 
> 4. I inform Wyndham of financial situation.  Fill out hardship package.  As for a delay on payments.  Denied.  I file for divorce.  Send new financial package in 4 mo.  In the meantime I had been trying to make Wyndham payments alone to keep up my financial obligation.  Package is denied.  I vet on Tuggs and decided to document the process because I researched but found no results on going through the process.
> 
> 5.  Someone pisses in your Cheerios.  I appreciate constructive criticism but you are making assumptions about me.  Go away.  Or continue to troll.  Whatever gets you through the day.:zzz::whoopie:


If you are still getting phone calls send them a documented letter indicating that you want all communication in writing not over the phone related to this debt. Document their collection calls from that date onward(date they receive letter). I believe every call you get from them or collection agents on their behalf is a violation of law.. collect enough evidence of them (automated calls are also violations) by documenting them in a notebook (time, date ,etc..).. contact attorney and sue. . I think you can get a few k for each violation. ..

Sent from my SAMSUNG-SM-N910A using Tapatalk


----------



## GoChiefsorBust

Jason245 said:


> If you are still getting phone calls send them a documented letter indicating that you want all communication in writing not over the phone related to this debt. Document their collection calls from that date onward(date they receive letter). I believe every call you get from them or collection agents on their behalf is a violation of law.. collect enough evidence of them (automated calls are also violations) by documenting them in a notebook (time, date ,etc..).. contact attorney and sue. . I think you can get a few k for each violation. ..
> 
> Sent from my SAMSUNG-SM-N910A using Tapatalk



Good morning!  I will take your advice.  I thought the previous letters may have worked....the calls HAVE reduced since Jan but if they are to stop completely I'm all for it.  Thanks!!!


----------



## spackler

DeniseM said:


> Raygo123 - Your statement shows how much you really do not understand how any of this works.





wjappraise said:


> While I appreciate your personal sense of financial commitment, I believe you are missing the point of this thread.



raygo123 has been corrected numerous times on these boards...I wish he could take the hint & stop filling up space with misinformation.


----------



## Jason245

GoChiefsorBust said:


> Good morning!  I will take your advice.  I thought the previous letters may have worked....the calls HAVE reduced since Jan but if they are to stop completely I'm all for it.  Thanks!!!


If you already sent a letter with that and have evidence of it being sent.. keep records of all calls. .(date time.. etc..) you don't need to pick up..but you need to prove they are related to this debt.. if you document more than 10 you can probably convince an attorney to file since each violation I think is subject to a 1k award to you if memory serves me right.. 50 calls equals your debt paid off 

Sent from my SAMSUNG-SM-N910A using Tapatalk


----------



## go-rebels

DeniseM said:


> No one is asking for your sympathy - it's just a matter of looking at the facts _logically._


It can be thought of as a wise business decision too.

I have two friends, mid 40's, with incomes in the top 10% of the national averages who defaulted on their new home mortgages they purchased in 2006-8 with little down.  Both subsequently rented equally nice, large homes in the same neighborhoods saving hundreds of dollars on their monthly mortgage/rent.  (Multiply $500 x 12 x 7 = $42K! + they avoid the loss of principle.)

In a few more years their credit will be restored and they'll be able to buy another new home.


----------



## Whoozr

*No explanation needed*



Jason245 said:


> If you are still getting phone calls send them a documented letter indicating that you want all communication in writing not over the phone related to this debt. Document their collection calls from that date onward(date they receive letter). I believe every call you get from them or collection agents on their behalf is a violation of law.. collect enough evidence of them (automated calls are also violations) by documenting them in a notebook (time, date ,etc..).. contact attorney and sue. . I think you can get a few k for each violation. ..
> 
> Sent from my SAMSUNG-SM-N910A using Tapatalk



Reply to the wrong post


----------



## Whoozr

*No explanation needed*



GoChiefsorBust said:


> Who tinkled in YOUR Cheerios last night?  Let me give you cliff notes since you lack reading comprehension.  Ok?
> 
> 1.  Was in a 2 income home.  WAS happily married and able to make payments for Wyndham quite.easily.  Got the amount of points we did because with 2 INCOMES it was EASILY affordable, we knew nothing about Tug, yadda yadda whatever.
> 
> 2.  Husband has a douche moment.  No more reconciliation.  In midst of douche moment he racks up $40k worth of debt.  Can't make payments on Wyndham or anything else
> 
> 3.  I take over expenses for EVERYTHING in the household including mortgage payment on primary residence and child's private school.  No other debt.  No car loans.  No student loans. No credit card debt. Only loans are Wyndham and mortgage
> 
> 4. I inform Wyndham of financial situation.  Fill out hardship package.  Ask for a delay on payments.  Denied.  I file for divorce.  Send new financial package in 4 mo.  In the meantime I had been trying to make Wyndham payments alone to keep up my financial obligation.  Package is denied.  I get on Tuggs and decided to document the process because I researched but found no results on going through the process.
> 
> 5.  Someone tinkles in your Cheerios.
> 
> I appreciate constructive criticism but you are making assumptions about me.  Go away.  Or continue to troll.  Whatever gets you through the day.:zzz::whoopie:



You do not have to explain your situation to Raygo123 or anyone else.  It's really none of our business why you are in this current situation.  My philosophy, shit happens, you deal with it and move on.


----------



## SueDonJ

One thing Raygo isn't wrong about is, this site is inundated with people looking to get out of their timeshares for any number of reasons.  The concern I have about this thread is that the OP is basically writing a How-To reference that can be followed by anyone.  In her shoes I'd be hesitant to share in this way because it could be backing Wyndham into a corner where they may decide that they have no choice but to stick to a hard line.  Look how many resolutions for getting out of Mexican timeshares include a demand that any internet postings be wiped clean - there's a reason companies engage as little as possible through social media.

I get it that the OP tried other not-so-public methods which failed.  I'm just not sure that this method is the solution.  No doubt it's great for the rest of us but maybe not so much for the OP.


----------



## DeniseM

Sue - I tend to think the other way:  I believe that the public pressure on Wyndham is a positive thing - as it was with the Mexican timeshares.

Also - the steps that she has taken are common knowledge.  She really isn't revealing any  secrets here.


----------



## GrayFal

DeniseM said:


> Sue - I tend to think the other way:  I believe that the public pressure on Wyndham is a positive thing - as it was with the Mexican timeshares.
> 
> Also - the steps that she has taken are common knowledge.  She really isn't revealing any  secrets here.



And she has gotten some great advice along the way....some I hope I never have to use myself but still good to know.


----------



## Passepartout

SueDonJ said:


> One thing Raygo isn't wrong about is, this site is inundated with people looking to get out of their timeshares for any number of reasons.  The concern I have about this thread is that the OP is basically writing a How-To reference that can be followed by anyone.  In her shoes I'd be hesitant to share in this way because it could be backing Wyndham into a corner where they may decide that they have no choice but to stick to a hard line.  Look how many resolutions for getting out of Mexican timeshares include a demand that any internet postings be wiped clean - there's a reason companies engage as little as possible through social media.
> 
> I get it that the OP tried other not-so-public methods which failed.  I'm just not sure that this method is the solution.  No doubt it's great for the rest of us but maybe not so much for the OP.



Susan, the other side of this coin is that IF Wyndham  is monitoring TUG as we suspect, perhaps someone with a heart for human suffering will see that the OP has done all she is capable of doing. They will cancel the contract, take the deed back, and create good will. If they do so, there is a chance that after she gets beyond this divorce, and gets her financial feet under her, she might just buy again. By forcing her into foreclosure, they win nothing they haven't been offered, and ruin any chance of a potential customer returning.

Once again, corporate revenge, trumping sound judgement.

Jim


----------



## SueDonJ

DeniseM said:


> Sue - I tend to think the other way:  I believe that the public pressure on Wyndham is a positive thing - as it was with the Mexican timeshares.
> 
> Also - the steps that she has taken are common knowledge.  She really isn't revealing any  secrets here.





Passepartout said:


> Susan, the other side of this coin is that IF Wyndham  is monitoring TUG as we suspect, perhaps someone with a heart for human suffering will see that the OP has done all she is capable of doing. They will cancel the contract, take the deed back, and create good will. If they do so, there is a chance that after she gets beyond this divorce, and gets her financial feet under her, she might just buy again. By forcing her into foreclosure, they win nothing they haven't been offered, and ruin any chance of a potential customer returning.
> 
> Once again, corporate revenge, trumping sound judgement.
> 
> Jim



I just wonder if she'd taken a different path, following the good advice of TUGgers but not posting continuously every step of the way, if Wyndham may have relented at some point prior to now.  I wonder if, because the situation has been made very public, she isn't ruining her chances of them being lenient at any point in the process based on her very real financial difficulties.

You could be right, the squeaky wheel may get the grease.  I hope so for this OP's sake.


----------



## taterhed

I've said this in other forums, I'll say it again here:

 Timeshare Developers are very quick to sell people into contracts they can not afford.  Some of this behavior (by the sales staff) has been widely reported (or proven) to be less than honest.  Of course, the TS industry is not the only sales force to sell clients into debt and disaster.

 I also strongly believe that people must have personal restraint and be responsible for their actions.  But....

 Why do more developers not have better sunset programs based on age, health or ???   I know we are slowly seeing some change in this direction, but I think addressing the problem--as apposed to waiting for further government regulation--is the responsible approach.

 I'm not siting Wyndham specifically, just TS developers in general.  There is a reason why so many 'up-front' scams and 'Viking-ship' companies exist.   I don't have the answers and I certainly don't want to pay 50% of everybody else's MF's when they default; like I do with my health care premiums.... But there must be a middle ground. 

 As for those who bitterly condemn others without basis, I think this quote applies:

*“Lord make my words soft today, for tomorrow I may have to eat them”*


----------



## GoChiefsorBust

SueDonJ said:


> I just wonder if she'd taken a different path, following the good advice of TUGgers but not posting continuously every step of the way, if Wyndham may have relented at some point prior to now.  I wonder if, because the situation has been made very public, she isn't ruining her chances of them being lenient at any point in the process based on her very real financial difficulties.
> 
> You could be right, the squeaky wheel may get the grease.  I hope so for this OP's sake.



Hi SueDonJ!

You bring up some valid points.  I thought about them prior to me posting.  But I think what really solidified my decision to post my experience from A to Z was (not only to document the process) but I was also disgusted with their response to me.  As I had mentioned previously in this thread we made payments on time, no issue, without fail.  Even put forth a little extra when we could, just like on the house.  And when I formally request for a delay of payments for 2 months so I could get the finances straight, I get a flat out no.  I re-file including documentation of (negative) bank accounts and divorce proceedings and I'm still rejected.

It's only when I decide to "go dark" on them, and fall a couple thousand behind on payments that they send a letter in December offering to be helpful with financial options.  None of which apply to my situation as I.don't.have.any.spare.money.  LOL  I'm frustrated with them, but at least I tried.  If this does go through foreclosure, I'll be educated on that end.  If we go through the deed process, I'll be educated on that as well.  I'm not expecting anyone from Wyndham to contact me and offer an olive branch; I'm now just in it for the ride at this point.  Sigh.


----------



## GoChiefsorBust

Taterhed, I like your quote.  

I was excited about the Ovation program initially because I thought I would qualify.  Until I found out it was for loans that had already been paid off.  We bought into Wyndham at a young age (just married, on vacation) because we wanted to have something that we purchased together.  Life is funny sometimes lol.  I'm probably younger than most posters' youngest child on this website; a lot of what I read on this forum is how loans are non existent and the only thing that is talked about is MF.  

Well, that's nice, and one day I had hoped to get to that status myself.  Sigh.  I truly thought the Financial Hardship program was a fair one, one that I wouldn't have to use.  But unfortunately as I have found out, that's not the case.  I think the program itself needs to be re-evaluated.  What's the use of having people send in all required documentation for a hardship that is identified on the packet if you are just going to deny it anyways?  Why even have the package made available?  What's a package that meets the requirements?  Why is this hidden?  So many questions.  Hope to get through this by Summer of this year.


----------



## elleny76

Change all your phone numbers..keep only a private cell phone ( no call _no treats) If you went bankruptcy I just read you can apply it to everything you can not  pay (CC, House, car, etc)  they can not do anything  good luck  don't worry about your credit, in couple of years it will be better. My co worker just told me she did it when she divorced and now has excellent credit



GoChiefsorBust said:


> Thank you Ryan.  I don't want to mess with my 401K either, but this is scary.  I'm not looking forward to the calls or the threats or the judgements...and then I was thinking, can they garnish wages?  Can they try to take my home?  Tomorrow I'm going to reach out to a few lawyers for free consultations.  Just to see what they say about this.  I'm not trying to buy a new car / open a new line of credit / buy a new house / buy ANYTHING, so if my score happens to drop, well then, I can deal with it and pay for things we need with cash.  So much to process!


----------



## go-rebels

GoChiefsorBust said:


> I was excited about the Ovation program initially because I thought I would qualify.  Until I found out it was for loans that had already been paid off.


Only for _some _properties though.  Wyndham will not take back Plantation Tara Cove.


----------



## Ken555

SueDonJ said:


> I just wonder if she'd taken a different path, following the good advice of TUGgers but not posting continuously every step of the way, if Wyndham may have relented at some point prior to now.  I wonder if, because the situation has been made very public, she isn't ruining her chances of them being lenient at any point in the process based on her very real financial difficulties.
> 
> You could be right, the squeaky wheel may get the grease.  I hope so for this OP's sake.




On the contrary, I think threads like this will assist future potential timeshare owners who need to extract themselves from a bad situation in not waiting and relying upon the hopes of developer/loan provided hardship programs. I suspect the OP could have saved a few months (or more) of payments if she had convinced herself earlier that continuing to pay was not going to help. I have friends who experienced the same result with their homes in ~2008, and the bank really doesn't care until you show you can't pay...by not paying. 

Best of luck to the OP! Stay confident, enjoy the ride (!), and ignore the haters.


Sent from my iPad


----------



## SueDonJ

Ken555 said:


> On the contrary, I think threads like this will assist future potential timeshare owners who need to extract themselves from a bad situation in not waiting and relying upon the hopes of developer/loan provided hardship programs. I suspect the OP could have saved a few months (or more) of payments if she had convinced herself earlier that continuing to pay was not going to help. I have friends who experienced the same result with their homes in ~2008, and the bank really doesn't care until you show you can't pay...by not paying.
> 
> Best of luck to the OP! Stay confident, enjoy the ride (!), and ignore the haters.
> 
> 
> Sent from my iPad



I hope you're not counting me in with the haters?  The last thing I want is for the OP to think that I'm criticizing her for being in the position she's in.  Walk a mile ...

While I certainly agree that this thread and others like it can be helpful in the abstract to give folks an idea of the difficulty getting out of timeshares, my concern is that it may not be helpful for this OP, anyone really, to publicly share every detail along the way.  Hopefully what others have said about my concern is correct and Wyndham isn't being made to feel that they can't relent at this point because floodgates have been opened.  I don't know if Wyndham relenting at any point is even a possibility but if it is, hopefully this doesn't jeopardize it.  That's all.


----------



## Ken555

SueDonJ said:


> I hope you're not counting me in with the haters?




Nope 


Sent from my iPad


----------



## mslsu5

GoChiefsorBust said:


> You're very welcome.  Enjoy
> 
> And thanks, Denise.  Appreciate the support



Happy New Year!!!

Thanks GoChiefsorBust for continuing to post your updates. I'm still following this post through my process.


----------



## Ty1on

GoChiefsorBust said:


> You're very welcome.  Enjoy



Best.  Response.  Ever.

Incidentally, someone told me that once they foreclose the deed, it is transferred to the developer, who reimburses the association for all maintenance fees in arrears.

So, some of the angst here may be further evidence of incomplete understanding of the system.


----------



## Explorer7

There are popular consumer advocates like Clark Howard who actually advocate that in today’s marketplace a company’s PR department carries a lot of weight towards reconciling differences when an individual customer’s voice is heard beyond what is sometimes called the  “customer  no service department”.  He does warn however to avoid character assassination and any claims that you cannot document which can attract legal attention from the company that you do not want. As the old TV series Dragnet used to say. Facts ‘mam, just the facts”.  In my opinion the OP has managed the facts well during this thread.

 Long story short, sometimes it’s worth spending a dollar to make a customer feel whole again than it is to spend seven dollars to clean up a potential public relations mess.


----------



## mslsu5

*Certified Letter??*



GoChiefsorBust said:


> I think my post erased.  I will try again!
> 
> Thank you all for the kind words and support, it truly means a lot to me.  My spouse is getting weak so I have to continuously keep him on the straight and narrow.  It's tiring.  But I'm not giving in.  I just received my first super duper scary letter from collections:
> 
> Dear Mr. and GoChiefsorBust
> 
> Due to your failure to maintain your contractual obligation, Wyndham Vacation Resorts, Inc. will now begin proceedings to escalate collection efforts on your timeshare installment loan contract.  We are authorized to take whatever steps are necessary to secure payment.  *WE INTEND TO PURSUE THIS DEBT*.  Amount Due: $2,643.91
> 
> To avoid the possible acceleration of the loan balance totaling $35,742.84 plus daily interest charges, please forward the amount due immediately.
> 
> (they then go on to list the 3 different ways to make a payment)......
> 
> ***Notice*** (in small print) If debt of $600.00 or more has been cancelled due to non-payment, the creditor may be required by law to report the cancellation to the IRS.  If the creditor makes such a report, you will receive a copy of the form 1099-A filed with the IRS.  This office makes no representations about the tax consequences that any such reporting may have.  You should consult an independent tax advisor if you desire advice about any tax consequences which may result from a settlement.
> 
> Section 504 of the Fair and Accurate Credit Transaction Act requires the following notice:
> 
> We may report information about your account to credit bureaus.....yadda yadda yadda.
> 
> There's no mention / any scary letter from the MF people yet.  And in looking at the loan balance.....man.  Even paying on time for the past 2 years, there has been NO dent made on this loan.  We would've been paying (on time, with no issue) for the next 15 years.  Geeeesh.
> 
> So I'm shredding this letter and going on to worry about my roof leaking. As a bonus, I thought I'd include a list of numbers to block and the times they call me every day:
> 
> 9:06 am: (702) 562-8350
> 10:02 am: (888) 739-4028
> 11:40 am: (888) 739-4028
> 1:54 pm: (702) 562-8350
> 2:12 pm: (702) 562-8350
> 6:04 pm: (888) 739-4028
> 8:12 pm: (866) 812-9806 (sometimes will call again at 8:44 pm)



Hi GoChiefsorBust,
Was this letter sent Certified?


----------



## PrettyPisces75

Thanks for the updates! I am at the starting point that you were in August. Arghh! Continued luck to you!


----------



## GoChiefsorBust

Hello Everyone!!!!  Hope your weekend is going well 

Here's an update; let me know HONESTLY what you think:

1/27/16

"Dear X and GoChiefsorBust,

As you may already be aware, your above-referenced contract with Wyndham Vacation Resorts is severely past due and in danger of immediate cancellation.  We understand that this may be a situation where you simply cannot afford to continue making payments on your account and are looking for the best way to mitigate your loss.  (man.  there's so many things I can say about this opening statement alone.  Sigh).

At this time, Wyndham would like to offer you the option to settle your debt with us.  This will allow you to cancel your contract with no further obligation owed to us.  Your credit report will be updated to reflect the settlement of your debt with no outstanding balance upon your acceptance and completion of the settlement process.

To accept this offer, it is imperative that you contact us as soon as possible.....phone numbers, hours of operation.  

Please be aware that, if you elect not to accept this offer, your account may be subject to continued collection activity, including potential referral to a third party debt collection agency."

So.  This sounds like we're at the point where Wyndham is offering me the olive branch and if I agree, all will be forgiven and we go our separate ways.  HOWEVER.  I need to make sure that I don't have to pay anything, and nothing is reflected poorly on the X's credit report and that this matter doesn't show up (as if we never had Wyndham)......my question to you all is, what should I look for in accepting the offer?  

I'm going to call the number on Monday and use the reference number on the letter I just transcribed........


----------



## GoChiefsorBust

Ty1on said:


> Best.  Response.  Ever.
> 
> Incidentally, someone told me that once they foreclose the deed, it is transferred to the developer, who reimburses the association for all maintenance fees in arrears.
> 
> So, some of the angst here may be further evidence of incomplete understanding of the system.



Hi Ty1on!  I sure hope that's the case, and the point where I'm at now.....this is new to me, so I guess I should do some light reading today and tomorrow to brush up on terms before I make my phone call......


----------



## GoChiefsorBust

mslsu5 said:


> Hi GoChiefsorBust,
> Was this letter sent Certified?



Hi Mslsu5,

No, it was sent via regular post.  Nothing certified has come to me yet.


----------



## GrayFal

GoChiefsorBust said:


> Hello Everyone!!!!  Hope your weekend is going well
> 
> Here's an update; let me know HONESTLY what you think:
> 
> 1/27/16
> 
> "Dear X and GoChiefsorBust,
> 
> As you may already be aware, your above-referenced contract with Wyndham Vacation Resorts is severely past due and in danger of immediate cancellation.  We understand that this may be a situation where you simply cannot afford to continue making payments on your account and are looking for the best way to mitigate your loss.  (man.  there's so many things I can say about this opening statement alone.  Sigh).
> 
> At this time, Wyndham would like to offer you the option to settle your debt with us.  This will allow you to cancel your contract with no further obligation owed to us.  Your credit report will be updated to reflect the settlement of your debt with no outstanding balance upon your acceptance and completion of the settlement process.
> 
> To accept this offer, it is imperative that you contact us as soon as possible.....phone numbers, hours of operation.
> 
> Please be aware that, if you elect not to accept this offer, your account may be subject to continued collection activity, including potential referral to a third party debt collection agency."
> 
> So.  This sounds like we're at the point where Wyndham is offering me the olive branch and if I agree, all will be forgiven and we go our separate ways.  HOWEVER.  I need to make sure that I don't have to pay anything, and nothing is reflected poorly on the X's credit report and that this matter doesn't show up (as if we never had Wyndham)......my question to you all is, what should I look for in accepting the offer?
> 
> I'm going to call the number on Monday and use the reference number on the letter I just transcribed........


Wow, that certainly sounds good.


----------



## GoChiefsorBust

GrayFal said:


> Wow, that certainly sounds good.



It does.  But I'm sure people can understand why I'm slightly guarded.  I don't want to get my hopes up, but.....I guess Monday I'll hear it from the horse's mouth.


----------



## vacationhopeful

GoChiefsorBust said:


> It does.  But I'm sure people can understand why I'm slightly guarded.  I don't want to get my hopes up, but.....I guess Monday I'll hear it from the horse's mouth.



Might just be checkin WHAT you current financial position is. And your current phone number ... so that they can say ... you were contacted.

I would invest in a cheap as shit "throw away phone" ... can call them from THAT number. And then watch HOW many other "unknown" numbers call that line. Tracfone for $10 (might include some minutes). If no minutes, another $10 buys minutes ... Walmark. 

Missed calls do NOT eat up your minutes ... get minutes for 90 days ... keeps the phone number 'good'.


----------



## GoChiefsorBust

vacationhopeful said:


> Might just be checkin WHAT you current financial position is. And your current phone number ... so that they can say ... you were contacted.
> 
> I would invest in a cheap as shit "throw away phone" ... can call them from THAT number. And then watch HOW many other "unknown" numbers call that line. Tracfone for $10 (might include some minutes). If no minutes, another $10 buys minutes ... Walmark.
> 
> Missed calls do NOT eat up your minutes ... get minutes for 90 days ... keeps the phone number 'good'.



You know what?  I can do that.  It's probably good to have an emergency phone in the car anyways.  I can get one from Walmart, put some minutes on it, and deal with them that way.......good idea, thanks!


----------



## GrayFal

vacationhopeful said:


> Might just be checkin WHAT you current financial position is. And your current phone number ... so that they can say ... you were contacted.
> 
> I would invest in a cheap as shit "throw away phone" ... can call them from THAT number. And then watch HOW many other "unknown" numbers call that line. Tracfone for $10 (might include some minutes). If no minutes, another $10 buys minutes ... Walmark.
> 
> Missed calls do NOT eat up your minutes ... get minutes for 90 days ... keeps the phone number 'good'.





GoChiefsorBust said:


> You know what?  I can do that.  It's probably good to have an emergency phone in the car anyways.  I can get one from Walmart, put some minutes on it, and deal with them that way.......good idea, thanks!



That's a good idea.  Take the focus away from your home/cell number. 

The other side of the coin is that the have the Ovation Program.  So they are actively looking to get inventory back. They already got a LOT of money from you, if they take your ownership back, they can sell it to fresh meat.


----------



## GoChiefsorBust

Morning!

Called the number provided and it took me to the voicemail of some guy.  I left a message, along with my phone number (of the new tracfone I purchased for $10 this morning; thanks vacationhopeful!).  I have 120 minutes on the phone so that should be enough. 

I'm going to ask for everything in writing.  I will NOT agree to anything over the phone.  I will NOT agree to back pay for past due MFs.  I will NOT agree to pay anything out of pocket (not like I could anyways!).  Their office opened 20 min ago (P.T.), so I hope to hear from this guy soon.


----------



## Ty1on

GoChiefsorBust said:


> Hello Everyone!!!!  Hope your weekend is going well
> 
> Here's an update; let me know HONESTLY what you think:
> 
> 1/27/16
> 
> "Dear X and GoChiefsorBust,
> 
> As you may already be aware, your above-referenced contract with Wyndham Vacation Resorts is severely past due and in danger of immediate cancellation.  We understand that this may be a situation where you simply cannot afford to continue making payments on your account and are looking for the best way to mitigate your loss.  (man.  there's so many things I can say about this opening statement alone.  Sigh).
> 
> At this time, Wyndham would like to offer you the option to settle your debt with us.  This will allow you to cancel your contract with no further obligation owed to us.  Your credit report will be updated to reflect the settlement of your debt with no outstanding balance upon your acceptance and completion of the settlement process.
> 
> To accept this offer, it is imperative that you contact us as soon as possible.....phone numbers, hours of operation.
> 
> Please be aware that, if you elect not to accept this offer, your account may be subject to continued collection activity, including potential referral to a third party debt collection agency."
> 
> So.  This sounds like we're at the point where Wyndham is offering me the olive branch and if I agree, all will be forgiven and we go our separate ways.  HOWEVER.  I need to make sure that I don't have to pay anything, and nothing is reflected poorly on the X's credit report and that this matter doesn't show up (as if we never had Wyndham)......my question to you all is, what should I look for in accepting the offer?
> 
> I'm going to call the number on Monday and use the reference number on the letter I just transcribed........



The offer will be to cancel the debt for a percent of what you owe, 20%-30%.


----------



## GoChiefsorBust

Ty1on said:


> The offer will be to cancel the debt for a percent of what you owe, 20%-30%.



You were absolutely right!

Spoke with Ron, nice guy.  He gave 2 scenarios: pay 20% (equals about $6800.  I told him if we had that much money, we would've never defaulted to begin with :annoyed: ).  The plus side of this was that it wouldn't be reflected negatively on the credit report, and nothing would be owed after that payment.  

Scenario 2 was that I do nothing and let it go into collections, which takes about 1 month, and the collections people contact me to try to work out a deal for me to pay, and if I still say no, then collections turns it back to Wyndham.

Here's something of interest, perhaps, in Ron's words.  Wyndham will buy back the loan, and recoup their deed.  Wyndham wont attempt to garnish wages or take me  / X to civil court to get payment.  They will just write it off as a foreclosure which stays as a negative mark on the X's credit history for 7 years.  According to Ron, this will be detrimental in if the X wants to get a loan for......something.

I told Ron I'm still unable to pay anything; he mentioned me taking money out of retirement, or obtaining a loan, or taking money out of savings.  I repeated to him that if I had money, we wouldn't be at this point, and I was unable to pay anything.  He said ok; mentioned that this would more than likely be our only conversation as from this point on it would mostly be paperwork correspondence. 

Basically a 3 minute conversation.  Very pleasant person to deal with, no pressure tactics to try to get me to bankrupt myself to get rid of them.  Now I wait a month.  X is going to pass out about this being on his record for 7 years but maybe if / when he files for bankruptcy, this too will be removed?  Whatevs.......


----------



## ace2000

Thanks for keeping us posted...  it's nice to finally get the real truth about what really happens during one of these.  There has been a ton of misinformation posted on TUG in the past.


----------



## Cheryl20772

ace2000 said:


> Thanks for keeping us posted...  it's nice to finally get the real truth about what really happens during one of these.  There has been a ton of misinformation posted on TUG in the past.



I can't say I've ever read any misinformation posted on TUG about what will happen if one tries to walk away from a timeshare mortgage.


----------



## ace2000

Cheryl20772 said:


> I can't say I've ever read any misinformation posted on TUG about what will happen if one tries to walk away from a timeshare mortgage.



You probably haven't been reading long enough then.  All you heard in the past was about the major lawsuits, court judgements, wage garnishments, etc. etc.  Very few suggested this path of waiting for a settlement offer or negotiate it down.  Kudos to the ones that knew what they were talking about.


----------



## jasonv1

Bankruptcy does indeed discharge most debts, but the bankruptcy itself will stay on your record for 7 years. No further dings from your creditors, but getting credit will be tough for a few years.

If you (aka X) file, if you can find one I suggest getting a small secured credit card after everything is done to start building credit again ASAP. You'll have to put up some money to guarantee it (as much as you want), but you'll start building positive credit again. You'll have to use it a couple of times a month, pay in full, etc, but it is worth it to accelerate your credit recovery.

(Please note my experience with bankruptcy is 20 years old; all I know now is that it is more difficult to discharge all debts than it was back then. You'll want to consult a lawyer, not an Internet commenter).



GoChiefsorBust said:


> You were absolutely right!
> 
> Spoke with Ron, nice guy.  He gave 2 scenarios: pay 20% (equals about $6800.  I told him if we had that much money, we would've never defaulted to begin with :annoyed: ).  The plus side of this was that it wouldn't be reflected negatively on the credit report, and nothing would be owed after that payment.
> 
> Scenario 2 was that I do nothing and let it go into collections, which takes about 1 month, and the collections people contact me to try to work out a deal for me to pay, and if I still say no, then collections turns it back to Wyndham.
> 
> Here's something of interest, perhaps, in Ron's words.  Wyndham will buy back the loan, and recoup their deed.  Wyndham wont attempt to garnish wages or take me  / X to civil court to get payment.  They will just write it off as a foreclosure which stays as a negative mark on the X's credit history for 7 years.  According to Ron, this will be detrimental in if the X wants to get a loan for......something.
> 
> I told Ron I'm still unable to pay anything; he mentioned me taking money out of retirement, or obtaining a loan, or taking money out of savings.  I repeated to him that if I had money, we wouldn't be at this point, and I was unable to pay anything.  He said ok; mentioned that this would more than likely be our only conversation as from this point on it would mostly be paperwork correspondence.
> 
> Basically a 3 minute conversation.  Very pleasant person to deal with, no pressure tactics to try to get me to bankrupt myself to get rid of them.  Now I wait a month.  X is going to pass out about this being on his record for 7 years but maybe if / when he files for bankruptcy, this too will be removed?  Whatevs.......


----------



## GoChiefsorBust

ace2000 said:


> Thanks for keeping us posted...  it's nice to finally get the real truth about what really happens during one of these.  There has been a ton of misinformation posted on TUG in the past.



Not a problem!  I was so tired of trying to locate an actual process but all I kept getting was conflicting information online: they sue / they wont / they garnish wages / you have to pay for lawyers / they take you to court.

As stressful as this situation has been, if I can do one small thing for others like me (with a legitimate situation), then it's the least I can do.......


----------



## GoChiefsorBust

jasonv1 said:


> Bankruptcy does indeed discharge most debts, but the bankruptcy itself will stay on your record for 7 years. No further dings from your creditors, but getting credit will be tough for a few years.
> 
> If you (aka X) file, if you can find one I suggest getting a small secured credit card after everything is done to start building credit again ASAP. You'll have to put up some money to guarantee it (as much as you want), but you'll start building positive credit again. You'll have to use it a couple of times a month, pay in full, etc, but it is worth it to accelerate your credit recovery.
> 
> (Please note my experience with bankruptcy is 20 years old; all I know now is that it is more difficult to discharge all debts than it was back then. You'll want to consult a lawyer, not an Internet commenter).




This is good information.  Since I'm talking to X this week (LOL), I'll pass this on to him.....thanks much!


----------



## mslsu5

GoChiefsorBust said:


> Hi Mslsu5,
> 
> No, it was sent via regular post.  Nothing certified has come to me yet.



Hi GoChiefsorBust - Thanks! I think they tried to send me something certified,  but my mail carrier can't seem to find it now.  Go figure!  Guess I'll have to wait for their next correspondence. 

Thanks for keeping us updated on your process.  Wishing you the best of luck on finally getting closure.


----------



## Cheryl20772

mslsu5 said:


> Hi GoChiefsorBust - Thanks! I think they tried to send me something certified,  but my mail carrier can't seem to find it now.  Go figure!  Guess I'll have to wait for their next correspondence.
> 
> Thanks for keeping us updated on your process.  Wishing you the best of luck on finally getting closure.


Not good! Did you get a notice from the carrier of a certified item? That notice should have the certified number for the item. That's an "accountable item" and a carrier would be in serious trouble if it's misplaced. Please don't let that go. If you have a receipt for an item that can't be found please file a complaint at the Post Office.


----------



## mslsu5

Cheryl20772 said:


> Not good! Did you get a notice from the carrier of a certified item? That notice should have the certified number for the item. That's an "accountable item" and a carrier would be in serious trouble if it's misplaced. Please don't let that go. If you have a receipt for an item that can't be found please file a complaint at the Post Office.




Hi Cheryl20772,

I signed it so that she could leave the letter and now don't know where it is,  so i don't have the tracking number anymore. Not sure how they can find it without the number. Never thought she'd misplace it. That's never happened with her before.


----------



## Cheryl20772

mslsu5 said:


> Hi Cheryl20772,
> 
> I signed it so that she could leave the letter and now don't know where it is,  so i don't have the tracking number anymore. Not sure how they can find it without the number. Never thought she'd misplace it. That's never happened with her before.


I'm so sorry you can't follow up now on that receipt. l guess all you can do is hope it will turn up. I'm sorry your carrier let you down.


----------



## mslsu5

Cheryl20772 said:


> I'm so sorry you can't follow up now on that receipt. l guess all you can do is hope it will turn up. I'm sorry your carrier let you down.



Thanks Cheryl20772.


----------



## GoChiefsorBust

Hello!

One month!  Ha!  Got a call from Blackwell (?) Collections yesterday.  Arizona number, guy left his name and info and said the usual, this is an attempt to collect.  I didn't block THIS number because I want to see if he'll call back and I want to hear what he has to say.  BUT perhaps this is moving along quicker, which means I'm in the home stretch.  Hey, gotta look at the "bright" side


----------



## GoChiefsorBust

Good Morning!

Last week, I believe Thursday, I received a notice from Blackwell Collections....regular mail.  It stated that if we paid $11k+ that they would do a deed in lieu of foreclosure, wipe off the bad mark on the credit report, yadda yadda.  If we didn't respond, they would attempt to collect full amount.....call them back......In the meantime, I've received calls from them (Arizona), which I've blocked.  I guess Ron was telling the truth (that Wyndham would settle for less than the collection agency.  Keep that in mind folks! )

Sorry not much of an update, but nothing exciting has been going on with them as of late......I'll be back soon


----------



## T-Dot-Traveller

GoChiefsorBust said:


> Good Morning!
> 
> Last week, I believe Thursday, I received a notice from Blackwell Collections....regular mail.  It stated that if we paid $11k+ that they would do a deed in lieu of foreclosure, wipe off the bad mark on the credit report, yadda yadda.  If we didn't respond, they would attempt to collect full amount.....call them back......In the meantime, I've received calls from them (Arizona), which I've blocked.  I guess Ron was telling the truth (that Wyndham would settle for less than the collection agency.  Keep that in mind folks! )
> 
> Sorry not much of an update, but nothing exciting has been going on with them as of late......I'll be back soon




Dear Go Chiefs or Bust 
I have occasionally followed this thread - and wish you ( future ) good luck.
Hang tough - and thank you for being a good TUG poster by sharing what you are learning with everyone on this forum.


----------



## mslsu5

GoChiefsorBust said:


> Good Morning!
> 
> Last week, I believe Thursday, I received a notice from Blackwell Collections....regular mail.  It stated that if we paid $11k+ that they would do a deed in lieu of foreclosure, wipe off the bad mark on the credit report, yadda yadda.  If we didn't respond, they would attempt to collect full amount.....call them back......In the meantime, I've received calls from them (Arizona), which I've blocked.  I guess Ron was telling the truth (that Wyndham would settle for less than the collection agency.  Keep that in mind folks! )
> 
> Sorry not much of an update, but nothing exciting has been going on with them as of late......I'll be back soon




Thanks for the updates. Greatly appreciated.


----------



## Ozlander

Hang in there. Sounds like you may be on the home path.
Hope it all works out for you and thanks for starting this thread.
Good information for all Wyndam owners.


----------



## GoChiefsorBust

Good Afternoon Everyone, and thanks to those who have sent kind words.....

As an update of sorts, I got a call from Nevada (Blackwell) but they didn't / never leave a voicemail...... no correspondence received from Blackwell or Wyndham via mail since early March.  Don't know what the delay is, unless they are getting the legal stuff straightened out or are trying to "buy me more time to respond."  Sorry nothing major to report on, but I WILL be back.  Take care everyone


----------



## DeniseM

Thanks for the update!  Keep fighting the good fight!


----------



## mslsu5

Haven't  heard a peep for about a month. Anybody else had any updates?


----------



## GoChiefsorBust

mslsu5 said:


> Haven't  heard a peep for about a month. Anybody else had any updates?



Hello Everyone!

I haven't heard anything either LOL

It's been a very VERY quiet, peaceful time.... I've been working on saving my money, and the ex has been working on rebuilding his credit.  His bankruptcy process is about finished and he's actually getting another job so he can build back up his savings.  Good for him.

I asked if he's received anything from Wyndham and he got a letter in the mail about 2 weeks ago saying he could pay off the balance, please contact them.  He said it wasn't a threatening letter, plain colored.

Not sure what the continued hold up is, but.....at least the correspondence is going directly to him now!  I'll be sure to check back in!


----------



## mslsu5

GoChiefsorBust said:


> Hello Everyone!
> 
> I haven't heard anything either LOL
> 
> It's been a very VERY quiet, peaceful time.... I've been working on saving my money, and the ex has been working on rebuilding his credit.  His bankruptcy process is about finished and he's actually getting another job so he can build back up his savings.  Good for him.
> 
> I asked if he's received anything from Wyndham and he got a letter in the mail about 2 weeks ago saying he could pay off the balance, please contact them.  He said it wasn't a threatening letter, plain colored.
> 
> Not sure what the continued hold up is, but.....at least the correspondence is going directly to him now!  I'll be sure to check back in!



Thanks for your update. 

I'm glad you are able to work on trying to save some money now.  It's definitely a good feeling. 

It's so quiet it's almost scary. Just wish i could get this over with and behind me,  so I can try to move forward with whatever the outcome may be.  

Thanks again. 
Best of luck to you!


----------



## jlf58

Allowing debts to be discharged is your legal right. If that's what someone needs to do to protect their family, good for them. Honoring a debt ? Major banks and your potential President have had debt discharged. If there is one thing I have learned in almost 60 years is protect yourself because nobody, not the government, not most employers, certainly not banks give a crap about you so you do what you have to to survive. 




am1 said:


> There is a lot to be said for honoring a debt.  But look at it from Wyndhams eyes.  You are more likely to continue to pay then someone who has stopped paying and late fees and compounded interest has made the amount owing a lot more then what was owed.
> 
> I am in favor of not allowing debts to be discharged.  That would benefit honest people as interest rates would be lower and bank and other lending companies would be more willing to lend money.


----------



## bogey21

Fletch said:


> If there is one thing I have learned in almost 60 years is protect yourself because nobody, not the government, not most employers, certainly not banks give a crap about you so you do what you have to to survive.



Well said....

George


----------



## raygo123

Fletch said:


> Allowing debts to be discharged is your legal right. If that's what someone needs to do to protect their family, good for them. Honoring a debt ? Major banks and your potential President have had debt discharged. If there is one thing I have learned in almost 60 years is protect yourself because nobody, not the government, not most employers, certainly not banks give a crap about you so you do what you have to to survive.


Discharge of a debt is not a right.  Try it with your house mortgage.  It is a gesture by the holder of your debt. Mostly given to deadbeats, where "getting blood from a turnip" is a waste of time and money.  Or those who are too dumb to manage their life, or cannot control themselves.  And  a few unfortunate souls who through no fault of their own are put into that situation as in old age, disability etc.,where their only solution, after trying to give away or sell.  
Buying a timeshare does NOT fit into the category of a reasonable reason to relieve debt.  They should be forced into bankruptcy.



Sent from my Nexus 7 using Tapatalk


----------



## jlf58

Bankruptcy is one form of discharge of debt and there are others. To call them deadbeats is short sided, bigoted and narrow minded. Saying those people are to dumb to manage their life shows your ignorance. Don't trip off that pedestal you put yourself on. 




raygo123 said:


> Discharge of a debt is not a right.  Try it with your house mortgage.  It is a gesture by the holder of your debt. Mostly given to deadbeats, where "getting blood from a turnip" is a waste of time and money.  Or those who are too dumb to manage their life, or cannot control themselves.  And  a few unfortunate souls who through no fault of their own are put into that situation as in old age, disability etc.,where their only solution, after trying to give away or sell.
> Buying a timeshare does NOT fit into the category of a reasonable reason to relieve debt.  They should be forced into bankruptcy.
> 
> 
> 
> Sent from my Nexus 7 using Tapatalk


----------



## DeniseM

raygo123 said:


> Discharge of a debt is not a right.  Try it with your house mortgage.  It is a gesture by the holder of your debt. Mostly given to deadbeats, where "getting blood from a turnip" is a waste of time and money.  Or those who are too dumb to manage their life, or cannot control themselves.  And  a few unfortunate souls who through no fault of their own are put into that situation as in old age, disability etc.,where their only solution, after trying to give away or sell.
> Buying a timeshare does NOT fit into the category of a reasonable reason to relieve debt.  They should be forced into bankruptcy.




Ray - I'm thinking you must have a split personality, because you wrote this compassionate response in post #35 in _this same thread_.  But now, you want to force the OP into bankruptcy?


raygo123 said:


> Man I can't even imagine what your going through.  We hope that Wyndham has compassion.    For those who have no debt, at least there is resale and Ovation.



*Your most recent post was out of line - I recommend that you not post in this thread any more.*


----------



## Ozlander

Bounce to the top.
Wondering what's new.


----------



## mslsu5

Ozlander said:


> Bounce to the top.
> Wondering what's new.



Nothing new on my front.


----------



## GoChiefsorBust

Good Morning!  OP here.  NOTHING ZERO NADA to report.  It's been radio silence for the both of us.....yet I still get the travel magazine in the mail.  I was wondering if they'll start it back up around the holidays, or if they are working on more pressing matters than ours, but I told ex to NOT contact them no matter how badly he wants to know what they're doing on their end.  I do occasionally wonder why they're dragging their feet on this.  Just close out the issue / "prosecute" us  and get it over with already.  Hmmm.  Thoughts?


----------



## therese

*wyndham foreclosure*

I am glad to hear via this thread that wyndham won't put lien on your home.  That is one good thing if you have to go into foreclosure.


----------



## Ozlander

Can you still access tour account?
If not, I suspect you not longer exist in Wyndam's world.


----------



## GoChiefsorBust

Ozlander said:


> Can you still access tour account?
> If not, I suspect you not longer exist in Wyndam's world.



I'm late seeing this!  I wonder why I didn't get the notification.  Anyways!  Nope, I can't access anything.  And I haven't heard ONE.FRIGGIN.PEEP from them at ALL.  No correspondence, no calls, zip.


----------



## Miss Marty

*Wyndham Vacation Ownership La Casada Resort San Antonio, Texas.*



GoChiefsorBust said:


> I have been lurking on this site for about 2.5 years.  I discovered it about 2 months AFTER my soon to be ex husband and I purchased ownership at La Cascada (San Antonio, TX).  We have 308k annual points, and we were paying a LOT for it in maintenance and loan fess.....almost $1k/month.



Wyndham La Cascada is located along the famous River Walk at 226 Dwyer Avenue, less than two blocks from the downtown River Walk loop in San Antonio, Texas. Valet Parking is available for $18 per day per vehicle .

Have you been checking Bexar County Recorder 
of Deeds, Mortgages and  Foreclosure Records? 


https://bexar.acttax.com/act_webdev/bexar/index.jsp


----------



## GoChiefsorBust

Hi Miss_Marty,

I didn't think to check there.  That's a good idea!  I'll report back with what I've found, if anything......


----------



## Wyndhamgotme

GoChiefsorBust said:


> Hi Miss_Marty,
> 
> I didn't think to check there.  That's a good idea!  I'll report back with what I've found, if anything......




I just bought timshare from Wyndham. I am also late to the party. I am upsidedown butt****


So I am a little confused from reading and reading and reading. What option did you go with at the end? You chose to pay for that small portion to end everything? Or did you still not pay a single dim?


I am about to start my own foreclosure too. Thanks so much by the way. Can I donate some money to you when I am out of this situation?


----------



## DeniseM

I'm not sure it is accurate to call it a "small portion," because GoChiefsorBust has been an owner for 3.5 years.

GoCheifsorBust choose foreclosure.

That means, that she has lost all the money that she already paid:   down payment, monthly payments, and monthly maintenance fees - *for 3.5 years.*

It also means that she defaulted on the loan, and there may or may not be consequences - such as damage to her credit rating - although so far, she hasn't found any.


----------



## Ty1on

I think WyndhamGotMe is referring to the offer to pay 15% of the loan to have the credit report reduced from Foreclosure to Settled for Less Than Owed.

She chose not to pay them any more money.


----------



## Wyndhamgotme

Ty1on said:


> I think WyndhamGotMe is referring to the offer to pay 15% of the loan to have the credit report reduced from Foreclosure to Settled for Less Than Owed.
> 
> She chose not to pay them any more money.




Ty, that's what I was looking for.

Good to know.


----------



## GoChiefsorBust

Happy Holidays everyone!  Just checking back in to say that as of today, (December 30, 2016) I have not heard anything from a creditor / Wyndham....the same goes for my ex.  I am, however, still receiving the magazine that is sent out?  Not sure if that means they still consider us owners or what not.....Any ways, I'll check back in about 3 months from now....sorry I can't contribute more of a better update.  Have a safe New Years!


----------



## GoChiefsorBust

Wyndhamgotme said:


> I just bought timshare from Wyndham. I am also late to the party. I am upsidedown butt****
> 
> 
> So I am a little confused from reading and reading and reading. What option did you go with at the end? You chose to pay for that small portion to end everything? Or did you still not pay a single dim?
> 
> 
> I am about to start my own foreclosure too. Thanks so much by the way. Can I donate some money to you when I am out of this situation?




Hello Wyndhamgotme! 

Good luck with your situation, I hope you have received some answers and guidance.  The people here on the forum are really knowledgeable!  And thanks for the offer of donation, but PLEASE use that to build up your savings for a rainy day fund!  The money that I was pouring into Wyndham I now put into savings (which greatly helped me when my 22 year old car died and I had to get a new one!  Wouldn't have been able to afford it if I were still struggling to make Wyndham payments).....you're so kind to even offer


----------



## GoChiefsorBust

Hello Everyone,

It's tax season, and I have an update.  Ex received a 1099-A (Acquisition or Abandonment of Secured Property Form) from Wyndham.  It's NOT a 1099-C (which states that the debt has been forgiven), but it's the only piece of correspondence we have received in months, so......Anyways!  Here's hoping that the next piece of mail IS a 1099-C and we can all move on with our lives.  FYI, the 1099-A is just for record; I don't have to file this on the taxes. 

Have a great day~


----------



## Miss Marty

Tax Topics - Topic 432 *Form 1099-A* 

‎ A commercial lender canceling a debt will issue a *Form 1099*-C
(PDF), Cancellation of Debt, to report the cancellation.

On *Form 1099-A*, the lender reports the amount of the debt owed (principal only) and the fair market value of the *secured property* as of the date of the *acquisition or abandonment* of the *property*.

https://www.irs.gov/taxtopics/tc432.html


----------



## spartyfan17

Hi newbie here, I’ve been reading this thread as it has been an option my husband and I have been considering. I’m just wondering what happened?


----------



## OMG!

I'm in deep trouble...of my own making.  December 2016, bought points in NYC to become "legit" owner (I had 2 weeks given to me following death in family).  Feb. 2017, vacation in Daytona and bought into CWA.  Never considered how I'd make payments except to pay minimums until I figured things out.  
And I hid all of this from my husband...opened a bank account, credit card and personal loan without his knowledge.  I know now how stupid and deceitful that was but at the time it made sense ( we both work and have good incomes and little debts).
Then I head to New Orleans ( great time!) and hook, line and sinker...am now a big shot platinum owner! Was traveling with friend so felt pressure to sign (after 3 hours) to get back to vacation. But never looked at the contract for a few days...and before I left, explained that I made a mistake cause there is no way I could afford $2,000 monthly along w $500 maintenance fees.  He was so reassuring and told me about using points to offset the maintenance fees and to just go home and refinance and all will be fine.
(I'm terrible with understanding money except how to work hard to make it). My bank tells me there is no room to increase my personal loan; my car could be used as collateral but that only gets me $22,000; I can't consider home equity as husband would never agree; looked into a loan against retirement (only another $50,000).
And then I cracked and confess to my husband regarding myfiscal infidelity.  I still can't believe that I disrupted (destroyed?) the wonderful life we have had.  
Between Pay Pal, Wyndham Rewards credit and personal loan...it's close to $200,000 which I owe.  
Exploring chapter 13 bankruptcy restructuring and pray that husband is willing to stick by me but he is beyond stunned and sickened at my recklessness.
I can't disagree with others on this thread that I am responsible for my actions and will do whatever I can to make repayments.  In the end, I hope that I also mend my marriage by surrendering my credit cards, closing out all accounts and sticking to an imposed budget.  
That's my tale of a year with Wyndham--from euphoria to ruin.


----------



## vacationhopeful

Talk to a lawyer ... perhaps a bankrupcty lawyer for YOUR 200K DEBT ... the Wyndham loans and ownerships. Wyndham MAY just take it ALL BACK if that BQ lawyer offers it in writing on legal letterhead, 'in lieu of foreclouse'. 

Then join a group for compulsive buyers. AND put a FREEZE on YOUR your credit for opening any new charge accounts or loan payments. 

You are not the only person who buys (unneeded) stuff ... just your stuff is more expensive than shoes or purses.


----------



## Braindead

When did you buy at New Orleans? Are you still in the cancellation - rescission period?


----------



## Braindead

If not in rescission period. You need to talk to a bankruptcy lawyer as Linda pointed out.
 But first you will need to make a list with your husband of debts and assets to take with you and your husband.
I know your in a awkward position but I think your husband is now in just as deep as you are [in most states anyway] and needs to be involved in every step with you.

Find a good bankruptcy lawyer! DO NOT PAY ANY MONEY TO A TIMESHARE EXIT TEAM you are only adding to financial loss.
Your bank might know a good bankruptcy attorney if they are not going to take a hit if you file bankruptcy


----------



## Passepartout

To find a bankruptcy attorney, go to the referral function of www.nacba.com (Nat'l Assn of Consumer Bankruptcy Attorneys). Know that not all BK attorneys are created equally. You NEED one who is versed in timeshare issues. This advice from my DW- a 30+ year experienced consumer bankruptcy attorney.

Good Luck. Get help. This is NOT something you can do on your own.

Jim


----------



## OMG!

Braindead said:


> When did you buy at New Orleans? Are you still in the cancellation - rescission period?


I'm not in rescission period .... but only 3 weeks ago


----------



## OMG!

Braindead said:


> If not in rescission period. You need to talk to a bankruptcy lawyer as Linda pointed out.
> But first you will need to make a list with your husband of debts and assets to take with you and your husband.
> I know your in a awkward position but I think your husband is now in just as deep as you are [in most states anyway] and needs to be involved in every step with you.
> 
> Find a good bankruptcy lawyer! DO NOT PAY ANY MONEY TO A TIMESHARE EXIT TEAM you are only adding to financial loss.
> Your bank might know a good bankruptcy attorney if they are not going to take a hit if you file bankruptcy


I am working with a local (New York State) bankruptcy attorney...just at initial stage of gathering needed documents, etc.  I meet again on Friday 1/5...
Thank you for your guidance...


----------



## Braindead

OMG! said:


> I am working with a local (New York State) bankruptcy attorney...just at initial stage of gathering needed documents, etc.  I meet again on Friday 1/5...
> Thank you for your guidance...


Honestly if you can get your husband to go the better. You two are going to have to work this out together.
If I were in your shoes. I would also spend the money for an hour with my regular family attorney to explore if bankruptcy is a good option for you and he would also probably have a recommendation for a good second opinion.
Bankruptcy is a big deal in most peoples lives. It sounds easy but has long lasting ramifications and shouldn’t be taken lightly


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## vacationhopeful

Braindead above makes a couple of VERY GOOD points. Ask your regular family lawyer for an opinion on a BK lawyer. The family lawyer knows you and your husband ... a professional verses a 'ad', friend referral, or the corner storefront lawyer. YOU would never buy the first house the realtor showed you ... the BQ lawyer will impact your financial life and future as much or more than just looking at 1 house to buy.

Think about getting some family therapy sessions with your husband. You would NOT be the first who needs to reflect on HOW and WHY you (BOTH?) overspend ... and to share the problem. Guilt for not keeping up with the neighbors, siblings, fads, NO planning or just priorities in the wrong place. Status buying, hoarding, getting a 'high' in buying stuff could be part of a million other reasons.

Setting a budget .. first to get out of debt. And then to realistically to live and SAVE wtihin your families goals and for a SOLID financial future. Talking to a therapy professional OPENS up the big picture for you and your family. It might mean moving to a smaller (or less fancy) home to enjoy international travel or private schools or an earlier retirement.

And expect your goals, priorities and plans do change over time. But remember, LIVE for BOTH the here and now... but saving for your old age, too.


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## Passepartout

Braindead said:


> Bankruptcy is a big deal in most peoples lives. It sounds easy but has long lasting ramifications and shouldn’t be taken lightly


So is taking on $200,000 in high interest debt on a purchase with little to no actual value. Yes, the whole family MUST be together on this, however, it appears the OP (wife) took it upon herself to encumber herself. I'm curious as to how she was even able to attend a Wyndham presentation at this (or really, ANY) level while vacationing without the spouse. I'm not familiar enough with Louisiana law to know what the contract says, OR since Louisiana is under Napoleonic Law (not the Common Law of other states), even what law applies to this purchase.

Her NY BK attorney had best be up to speed on this.

Jim


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## Braindead

Passepartout said:


> So is taking on $200,000 in high interest debt on a purchase with little to no actual value. Yes, the whole family MUST be together on this, however, it appears the OP (wife) took it upon herself to encumber herself. I'm curious as to how she was even able to attend a Wyndham presentation at this (or really, ANY) level while vacationing without the spouse. I'm not familiar enough with Louisiana law to know what the contract says, OR since Louisiana is under Napoleonic Law (not the Common Law of other states), even what law applies to this purchase.
> 
> Her NY BK attorney had best be up to speed on this.
> 
> Jim


Your exactly right. Timeshares and different state laws come into play.
I’m not an attorney. But I know a spouse cannot buy real estate in some states without the other spouse signing a consent form that they are aware that their spouse is buying real estate and they’re spouse is the sole buyer. That goes back to is a timeshare real estate.
Wyndham usually does want both spouses on the deed. I do not know what Louisiana, Florida or New York laws are. All 3 come into play because the OP bought in all 3 states.


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## Braindead

Passepartout said:


> So is taking on $200,000 in high interest debt on a purchase with little to no actual value.
> 
> Jim


The problem with OMGs case. She states they both have good incomes and little debt. It sounds like they might have a decent amount of net worth at stake here. Best case scenario here would be if Wyndham traded in OMG contracts as she bought and she now has 1 large contract.  Then if her attorney could find something wrong with any 1 of the contracts it might get her out of all contracts.


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## Passepartout

Braindead said:


> The problem with OMGs case. She states they both have good incomes and little debt. It sounds like they might have a decent amount of net worth at stake here. Best case scenario here would be if Wyndham traded in OMG contracts as she bought and she now has 1 large contract.  Then if her attorney could find something wrong with any 1 of the contracts it might get her out of all contracts.


Best case scenario would be if a determination is made that they (Wyn) had offered her a sale when she was ineligible and they offer to rescind to save face. But I don't know the laws involved. Hopefully, she'll keep us informed as this goes forward. Either way, I hope the couple can get beyond this. It won't be easy, as there are some trust issues here.

Jim


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## Braindead

Passepartout said:


> Best case scenario would be if a determination is made that they (Wyn) had offered her a sale when she was ineligible and they offer to rescind to save face. But I don't know the laws involved. Hopefully, she'll keep us informed as this goes forward. Either way, I hope the couple can get beyond this. It won't be easy, as there are some trust issues here.
> 
> Jim


We are both thinking along the same lines. WYN was a good key word to use.


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## CO skier

Passepartout said:


> So is taking on $200,000 in high interest debt on a purchase with little to no actual value. Yes, the whole family MUST be together on this, however, it appears the OP (wife) took it upon herself to encumber herself. I'm curious as to how she was even able to attend a Wyndham presentation at this (or really, ANY) level while vacationing without the spouse. I'm not familiar enough with Louisiana law to know what the contract says, OR since Louisiana is under Napoleonic Law (not the Common Law of other states), even what law applies to this purchase.
> 
> Her NY BK attorney had best be up to speed on this.
> 
> Jim


I live in Colorado.  My wife recently bought a house -- a decision I opposed.  She arranged her own financing; there was nothing I needed to sign.  She encumbered herself, because she has enough income on her own to qualify for her loan.  There was nothing I could do to prevent the transaction.

I am sure there are other states with similar real estate laws.

All our (my) timeshares are in my name.  My wife never needed to sign anything (and this was when we did not live in Colorado).  She is not keen on timeshares, but she sure does enjoy our timeshare vacations.  I regularly attend owner presentations on my own, because my wife is not listed as an owner on the timeshare accounts.

She pays the mortgage payments on the house that I think is a mistake; I pay the maintenance fees on all our timeshares.  Marital bliss.


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## Braindead

CO skier said:


> I live in Colorado.  My wife recently bought a house -- a decision I opposed.  She arranged her own financing; there was nothing I needed to sign.  She encumbered herself, because she has enough income on her own to qualify for her loan.  There was nothing I could do to prevent the transaction.
> 
> I am sure there are other states with similar real estate laws.
> 
> All our (my) timeshares are in my name.  My wife never needed to sign anything (and this was when we did not live in Colorado).  She is not keen on timeshares, but she sure does enjoy our timeshare vacations.  I regularly attend owner presentations on my own, because my wife is not listed as an owner on the timeshare accounts.
> 
> She pays the mortgage payments on the house that I think is a mistake; I pay the maintenance fees on all our timeshares.  Marital bliss.


In one state I had to sign so my wife could put real estate in her name only.
In another state we put real estate in her name only. But when we sold it I had sign a document stating I knew she was selling the property. She could buy without me. But couldn’t sell without me


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## Passepartout

CO skier said:


> I live in Colorado.  My wife recently bought a house -- a decision I opposed.  She arranged her own financing; there was nothing I needed to sign.  She encumbered herself, because she has enough income on her own to qualify for her loan.  There was nothing I could do to prevent the transaction.
> 
> I am sure there are other states with similar real estate laws.
> 
> All our (my) timeshares are in my name.  My wife never needed to sign anything (and this was when we did not live in Colorado).  She is not keen on timeshares, but she sure does enjoy our timeshare vacations.  I regularly attend owner presentations on my own, because my wife is not listed as an owner on the timeshare accounts.
> 
> She pays the mortgage payments on the house that I think is a mistake; I pay the maintenance fees on all our timeshares.  Marital bliss.


Similar situation here. My wife bought her (our) condo. She paid for it. I wasn't all that hot on it. I had to sign away my (common law) interest in it in order for her to get title insurance. They didn't want my heirs coming after the deed should I pre-decease my wife. 

Neither your experience, nor mine have anything to do with the OP's. We both live in 'Common Law' states (as are most Western states) while Louisiana, New York, and Florida, are not. It remains to be seen what will become of this, but one thing's sure. It won't be cheap and easy. 

Jim


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## kaljor

To the OP, you described your situation perfectly and I’m guessing you came to this forum hoping to find a hack or a little known procedure to get out of a timeshare purchase.  Sadly, after the legal date to rescind, there is no secret way out.  It’s a contract and since the numbers are this big, the only smart way forward for you is to have a good lawyer explain all your options.  None of them may be good, but one of them will be the least bad.  That choice only you and your husband can make.  Best of luck to you.


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## taterhed

To the OP: @OMG! 
I'm not a lawyer and don't claim to offer professional advice. That being said...
Louisiana is a community property state. Immovable assets in LA. are governed by LA statute, not by owner's domicile. AFAICT

But, you did state that you opened personal accounts, loans and solely signed the indebtedness without your husband's knowledge.  This would make the asset (liability) separate property.

The key test for this appears to be:  Were or are any community assets used to procure and/or pay for the property or service the debt?  If only separate assets were used to pay (your assets) then it's probably separate ownership.  If any community property (assets) were used to buy or service the debt (greater than an insignificant amount), then the ownership is likely community.

Again, this is just internet drivel and not worth the time it took to write this post.....BUT, This should serve as a message to you: 
This is not a clear-cut matter for you or your spouse and you BOTH should work together to resolve this financial issue and, hopefully, further resolve your emotional and relationship issues as well.

This is a complicated and painful issue, your story is one of many.  I wish you the best of luck and peace in resolving this.   Please take the others' advice and get some legal and emotional counseling ASAP to start the new year right and take 1 step--1 day at a time--to reaching a happy and healthy life.

Cheers to having the courage to talk about this, recognize the problem(s) and seek help and guidance.


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## OMG!

Good morning all and appreciate the comments.  We are proceeding with chapter 13 bankruptcy, which will restructure the debt load to a repayment I can handle.  It will be personal-not joint- court process, so husbands assets are protected.  I got us into this mess and I'll do what I have to to get us out.

I am in therapy to understand the compulsion (as well as the gullibleness!) and husband realized that 30+ years together will have disappointments but we will make it thru this folly. (THANKFULLY)

I assisted my sister this week in her new house closing and the difference between that real estate transaction and mine w Wyndham was a shock!  They explained her payments, the amortization charts, the benefit of paying a small amount extra per month to lower costs....my experience was to talk about the "vision" and rush me through signing by pointing to the monthly amount (not the totals) and putting an electronic signature to everything as the quality control guy sped through each document.  

I did attempt to get out of this a few days later and before leaving New Orleans BUT I spoke with the sales person.  I told him that I couldn't handle the monthly mortgage and the monthly maintenance (both) and he kept me calm by saying the maintenance fees can be handled by using half the points and that most people go home and refinance the mortgage. But still I signed on the dotted line, so no matter what...Wyndham will get a chunk of money one way or the other.

I meet later with bankruptcy lawyer to finalize .... and I will likely work a few more years rather than retire next year, and I've surrendered all credit cards to never get myself in this pickle again!


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## Braindead

OMG! said:


> Good morning all and appreciate the comments.  We are proceeding with chapter 13 bankruptcy, which will restructure the debt load to a repayment I can handle.  It will be personal-not joint- court process, so husbands assets are protected.  I got us into this mess and I'll do what I have to to get us out.
> 
> I am in therapy to understand the compulsion (as well as the gullibleness!) and husband realized that 30+ years together will have disappointments but we will make it thru this folly. (THANKFULLY)
> 
> I assisted my sister this week in her new house closing and the difference between that real estate transaction and mine w Wyndham was a shock!  They explained her payments, the amortization charts, the benefit of paying a small amount extra per month to lower costs....my experience was to talk about the "vision" and rush me through signing by pointing to the monthly amount (not the totals) and putting an electronic signature to everything as the quality control guy sped through each document.
> 
> I did attempt to get out of this a few days later and before leaving New Orleans BUT I spoke with the sales person.  I told him that I couldn't handle the monthly mortgage and the monthly maintenance (both) and he kept me calm by saying the maintenance fees can be handled by using half the points and that most people go home and refinance the mortgage. But still I signed on the dotted line, so no matter what...Wyndham will get a chunk of money one way or the other.
> 
> I meet later with bankruptcy lawyer to finalize .... and I will likely work a few more years rather than retire next year, and I've surrendered all credit cards to never get myself in this pickle again!


Glad to hear your working your way through this. Hindsight is always 20/20. So don’t beat yourself up to bad. Just a shame you didn’t find us in time to rescind. Sales weasels are experts at catching individuals when your guard is down on vacation.
Glad your husband is willing to stick with you. You will definitely need his emotional support going threw the process in front of you. Good to hear his assets are also protected.

Hope you will be able to use your ownership to enjoy some vacations with your husband and others close to you. Jan M has excellent advice on putting your purchase price behind you and enjoying your ownership. Don’t let the bitterness of your mistake buying direct from Wyndham ruin your future vacations. Maybe you will also be able to do some renting of reservations to help out financially.

Best of luck to you. Ask any questions about your ownership here and do some reading of previous threads. There are excellent owners here that can help you get every benefit and enjoyment you can out of your ownership.


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## OMG!

Update:  Chapter 13 was filed w court on Friday.  Lawyer explained that creditors will have 90 days to object but that in their experience, this doesn't happen.  They submitted to judge that I would give up all contracts to Wyndham to settle that bill in full (this includes the 2 gifted ones in addition to the platinum membership).  

My restructured payments will be $1000/month for 5 years through court by monthly certified check. 

Husband still angry but knowing that he will be handling all finances without me jeopardizing our nest egg, is helping.  I will have no weekly allowance except for gas money (fine by me for now--I freaked myself out on how stupid I am with money!)

Hell of a life-lesson but beats the alternative of paying Wyndham $2000 for 180 months (which I thought was 5 years but it's really 15 years!!!!)  Expensive fix (lawyer retainer was $3500 plus 310 court filing fee in NYS).  And, I'm still upset with myself that I trusted "sales weasel" when I could have rescinded in time (he "calmed" my worries that I'd use points toward maintenance fees and just refinance loan when I got home).

I wish I had done stupid stuff and rebelled when I was a teenager--maybe I could have avoided this stunt!  I guess you don't get out of life without doing something stupid (although this was MONUMENTALLY stupid!)

Will update as I go through the next 90 days...thanks for listening.


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## kaljor

I think you were really smart to resolve everything this way.  After seeing your post about Chapter 13 I read up on it and it seems to be a fair method to let creditors get something instead of nothing and lets folks who have gotten themselves into a bad situation  a way forward.  If you're not at peace with this solution, I think you will be a year from now.

In my reading, one takeaway is that every payment to the court must be made on time, or there will be consequences.

Good luck, and thanks for letting us know how it turned out.


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## taterhed

One day at a time.
Honesty, owning up and making amends.

Good on you.  Keep it up.
What doesn't kill us, makes us stronger.


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## Jan M.

OMG! said:


> Update:  Chapter 13 was filed w court on Friday.  Lawyer explained that creditors will have 90 days to object but that in their experience, this doesn't happen.  They submitted to judge that I would give up all contracts to Wyndham to settle that bill in full (this includes the 2 gifted ones in addition to the platinum membership).
> 
> My restructured payments will be $1000/month for 5 years through court by monthly certified check.
> 
> Husband still angry but knowing that he will be handling all finances without me jeopardizing our nest egg, is helping.  I will have no weekly allowance except for gas money (fine by me for now--I freaked myself out on how stupid I am with money!)
> 
> Hell of a life-lesson but beats the alternative of paying Wyndham $2000 for 180 months (which I thought was 5 years but it's really 15 years!!!!)  Expensive fix (lawyer retainer was $3500 plus 310 court filing fee in NYS).  And, I'm still upset with myself that I trusted "sales weasel" when I could have rescinded in time (he "calmed" my worries that I'd use points toward maintenance fees and just refinance loan when I got home).
> 
> I wish I had done stupid stuff and rebelled when I was a teenager--maybe I could have avoided this stunt!  I guess you don't get out of life without doing something stupid (although this was MONUMENTALLY stupid!)
> 
> Will update as I go through the next 90 days...thanks for listening.




I'm not understanding why you would be paying $1000 a month for the next five years, $60k, on top of what you have already paid towards what you bought from Wyndham and you end up with nothing. Not even the two deeds you inherited. This doesn't seem right. Can someone can explain this to me?


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## kaljor

In Chapter 13, all your debts and assets and income are filed with the court, and the judge decides what you can keep and how much you can afford to pay.  After paying the set amount for 5 years, all leftover debt is discharged.  But you can't necessarily keep the things that were bought with the discharged debt.  The monthly payment is disbursed by the court to all the creditors, and presumably they will not be paid in full.  That's a simplistic basic answer that I gathered from reading about Chapter 13, I'm not a lawyer and I don't know anything specifically about OMG's case.


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## raygo123

kaljor said:


> In Chapter 13, all your debts and assets and income are filed with the court, and the judge decides what you can keep and how much you can afford to pay.  After paying the set amount for 5 years, all leftover debt is discharged.  But you can't necessarily keep the things that were bought with the discharged debt.  The monthly payment is disbursed by the court to all the creditors, and presumably they will not be paid in full.  That's a simplistic basic answer that I gathered from reading about Chapter 13, I'm not a lawyer and I don't know anything specifically about OMG's case.


Thats about right.    Theres 7, 11, and 13 are the best known.  Neither party is made whole.

Sent from my LGLK430 using Tapatalk


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## Braindead

Jan M. said:


> I'm not understanding why you would be paying $1000 a month for the next five years, $60k, on top of what you have already paid towards what you bought from Wyndham and you end up with nothing. Not even the two deeds you inherited. This doesn't seem right. Can someone can explain this to me?


I was wondering the same thing. In OMG  case Wyndham will probably end up with upto half of her congracts being paid. I wonder if they could of negotiated Wyndham taking back half and OMG paying off the other with a negotiated lower interest rate. We are talking about a large sum of money. Not someone trying to get away from $10-20 thousand dollars of debt.

I was waiting for Avislo to tell OMG to stop paying for 60 days and Wyndham would probably just take the contracts back. He said something along those lines in a thread started December 30th titled Club access verses deed. 
Avislo[Robert] advice just go into default. If you have a loan on a CWA contract like OMG they are more likely to just take it back. No loan and just don’t want it anymore go into default.If it wasn’t such a serious matter his advice would be laughable.

If you have no loan. I would recommend giving the CWA contract away or try to sell. Ovation is also an option instead of going into default and dinging your credit score.


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## OMG!

Default for such a large amount would likely have resulted in being sued, at which time my husbands assets would be in jeopardy.  I couldn't take that risk and chapter 13, despite having nothing in the end, allows me to make "amends" to creditors. At this point and after the very real threat of being divorced over my purchases, I'll be relieved to not have any contracts!  I think Wyndham makes out no matter what, cuz the creditors gave them $60,000 already in down payment AND they can sell the contracts to next person.  
The creditors should be made whole...I am sad that the 60,000 payback won't be helping any charities but my conscience will be clear that I did what I could to make things right.  I'm not concerned about ruined credit score...At the end of this 5 yrs, I'll rebuild my credit.
Very expensive life lesson...


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## kwelty

OMG, I commend you for admitting your mistakes and working so hard to turn things around.  Don't beat up on yourself too hard.  All the best for getting everything back on track.


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## GoChiefsorBust

Hey everyone!  OP here.  Just a final comment from me.  This year neither me or my ex husband received a tax document from Wyndham so I think we're completely done with it.  My credit score has not suffered (it's currently in the low 800s), and I have officially moved on with my life.  I want to thank everyone on here who provided GREAT information to me during this process.  I have referred so many people to this site.  Thanks again, and best wishes to all


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## paxsarah

Congratulations! (I hope for good!)


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## taterhed

Well, you faced the bull.....and the bull blinked.  Apparently.

Glad it worked out for you....you've been candid about it all...but certainly don't recommend this strategy for others.

Again, glad you can move on.


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## kaljor

Thanks a lot for coming back for this update.  It's always a little unsatisfying to get involved in someone's story in a forum like this and not get later results.

In addition, you provided us all with a ton of useful information.  Factual information about every step in this process is hard to come by anywhere else.  Not to imply that everyone's case would be treated exactly as yours was, but all correct information is helpful

Best of luck to you.


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## Nomad34

OMG! said:


> Update:  Chapter 13 was filed w court on Friday.  Lawyer explained that creditors will have 90 days to object but that in their experience, this doesn't happen.  They submitted to judge that I would give up all contracts to Wyndham to settle that bill in full (this includes the 2 gifted ones in addition to the platinum membership).
> 
> My restructured payments will be $1000/month for 5 years through court by monthly certified check.
> 
> Husband still angry but knowing that he will be handling all finances without me jeopardizing our nest egg, is helping.  I will have no weekly allowance except for gas money (fine by me for now--I freaked myself out on how stupid I am with money!)
> 
> Hell of a life-lesson but beats the alternative of paying Wyndham $2000 for 180 months (which I thought was 5 years but it's really 15 years!!!!)  Expensive fix (lawyer retainer was $3500 plus 310 court filing fee in NYS).  And, I'm still upset with myself that I trusted "sales weasel" when I could have rescinded in time (he "calmed" my worries that I'd use points toward maintenance fees and just refinance loan when I got home).
> 
> I wish I had done stupid stuff and rebelled when I was a teenager--maybe I could have avoided this stunt!  I guess you don't get out of life without doing something stupid (although this was MONUMENTALLY stupid!)
> 
> Will update as I go through the next 90 days...thanks for listening.


Sad to hear but happy to know you are OK with your solution. I have posted my rescission letter partly online to make sure the practice of updates has been the ruin of Wyndham until now. The two companies split was best for some and hurtful for others. Only time will tell.


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## bogey21

OMG! said:


> Update:  Chapter 13 was filed w court on Friday.....My restructured payments will be $1000/month for 5 years through court by monthly certified check.....but beats the alternative of paying Wyndham $2000 for 180 months (which I thought was 5 years but it's really 15 years!!!!).



My assumption is that the $1,000 is for all creditors not just Wyndham. 

George


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## kaljor

bogey21 said:


> My assumption is that the $1,000 is for all creditors not just Wyndham.
> 
> George



Not that it's all that important but you replied to someone different from the original poster.  The poster you refer to was another person who had a similar situation and came along much later in this same thread.  

Just in case someone was confused about this response.


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## Nomad34

kaljor said:


> Not that it's all that important but you replied to someone different from the original poster.  The poster you refer to was another person who had a similar situation and came along much later in this same thread.
> 
> Just in case someone was confused about this response.


The confused old lady who doesn't know anything and confuses everyone.


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## dumbasswhoboughtwyndham

GoChiefsorBust said:


> Good Morning!  OP here.  NOTHING ZERO NADA to report.  It's been radio silence for the both of us.....yet I still get the travel magazine in the mail.  I was wondering if they'll start it back up around the holidays, or if they are working on more pressing matters than ours, but I told ex to NOT contact them no matter how badly he wants to know what they're doing on their end.  I do occasionally wonder why they're dragging their feet on this.  Just close out the issue / "prosecute" us  and get it over with already.  Hmmm.  Thoughts?



So nothing transpired between the receiving of  a 1099-A and this most recent tax year I think I may have missed a post.


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