We got out of our HGVC timeshare in 13 months. After a year of having it and never using it we tried to sell it and was told it's was only worth $3k at the most and we paid $25K. We financed $22K through Hilton. We had a 2 bed 2 bath at Par Soleil.
After hearing this I stopped paying and wrote a letter to the Hilton President asking how is our timeshare only worth $3k in only a year when we were told numerous times it holds it value. And how has the maintenance fees gone up twice in 1 year? I never got a response. I stopped paying and sent the letter in October 2017.
I got a few collections, not any too annoying. I just said "I'm waiting to hear back from the President." Eventually the calls stopped. Then started receiving letters of balances owed. I just ignored. Then we got a letter HGVC saying their going to foreclose through a non-judicial foreclosure if we did not pay. If you receive this letter do not sign it, just ignore. Non-judicial foreclosure are done outside of the courts and HGVC can not come after you for the balance if done this way. YOU WANT THIS! If you sign this letter, you will end up in court and probably have to pay fees and risk your credit.
By January 2019 we received a letter that our timeshare had been foreclosed. Nothing hit our credit reports. Apparently if the creditor was never reporting payments they can't start now. HGVC has never showed on my credit from the very beginning. I logged on to the website it says we no longer have an account. We haven't received anymore bills either.
I researched attorneys who can get you out of timeshares, but they wanted about $5k to probably do the same thing I did. The first thing they tell you is to stop paying and in a few months you will be out of the timeshare. The only thing the attorney may be able to do better is regain any money you already paid. And even that's a maybe. We did no get back any money we paid, but are still glad to be out of it.
I was ready for a long ride with this but it passed very quickly.
