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Getting out of Bluegreen purchase

Discussion in 'Buying, Selling & Renting Timeshares' started by riverajuan, Jun 6, 2019.

  1. riverajuan

    riverajuan Guest

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    Hi my name is Juan Rivera. I am sorry if this is the wrong forum to explain my situation, but I am new to TUGs.

    My situation is that I recently purchased a Blue Green timeshare package, but now I am having second thoughts about it and want to cancel it. It was purchased in May 23, 2019 and the cancellation period has expired base on the laws of Savannah, Giorgia where the purchased to place. Now I don't know what to do from here since the cancellation period has expired.

    Please help if anyone can help it will be greatly appreciated.
     
    GrayFal likes this.
  2. icydog

    icydog TUG Review Crew: Expert TUG Member

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    It might be a long shot, and it probably is, but can you contact your credit card company and ask them to dispute the charges?

    I’m not a lawyer, but knowing this company from past dealings, you probably have no recourse at this time.

    Don’t despair!! Learn to use your points—which will enable you, and your family, to enjoy incredible vacations. That’s what timeshares are all about!
     
    Last edited: Jun 6, 2019
  3. riverajuan

    riverajuan Guest

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    Thank you for your response and suggestion, but if I did signed the contract. Can I still dispute the charge?
     
  4. riverajuan

    riverajuan Guest

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    Are there any other suggestions? I really need guidance on options to cancel the time share I am worry I can’t afford all the expenses attached to it.

    I need help on this bad decision.
     
  5. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

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    Juan, I think you probably screwed up by waiting so long. You could try by writing a rescission letter- even though it's late- and pleading your case as a hardship. It may not work, but if indeed this expense is going to cause you to fall behind on other debt, or necessities, some kind soul at BlueGreen might take pity and let you out. They don't have to.

    Had you sent the letter within the allowable rescission (cooling off) period, the law is on your side. Now, assuming you are an adult, you are responsible for your own affairs, the law favors the seller. About the only way out is through a bankruptcy, and it's unlikely that a timeshare purchase on it's own would tip you over that far.

    Take heart, though. About half of TUGgers bought their first timeshare at retail from the developer. We saw value in being able to provide better accommodations for our families and creating family memories. The best way to reduce the financial hit is to buckle down and pay off the high interest loan. Even taking on a second job and diverting that income to paying down debt. Another way to reduce the out-of-pocket cost is to reserve high demand weeks (holidays, spring break, etc) and rent them yourself. It's unlikely that you can recoup the whole cost- especially if you're paying a mortgage payment, but you can usually make up your ongoing maintenance fees by doing that. Then assuming you have RCI membership, you can take low cost, Last Calls yourself- a caution here, you are not allowed to rent Last Calls for profit.

    Good Luck, and Welcome to TUG!

    Jim
     
    Last edited by a moderator: Jun 6, 2019
  6. riverajuan

    riverajuan Guest

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    So based on the comments I hear, I am pretty much screwed and there is nothing I can do to cancel this time share. This was a bad mistake in my part, but there must be other things I can do resolve this issue.

    Or is this a case where once you in it you can’t get out situation.

    I’m feeling worse the more I hear the negatives. Are there any positives?
     
  7. Karen G

    Karen G Moderator

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    Once owned these: FirstFairway@Walden X 2; Lawai Beach; ManhattanClub; PuebloBonitoRose; 4 South Africa--now timeshare-free
    You must have had some positive expectations when you purchased this timeshare. What made you want it?
     
  8. chalee94

    chalee94 TUG Member

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    You signed a contract. You gave your word. It's important to be very, very careful about that, yes (especially as the dollars start pushing into the thousands), as there are consequences.

    The main positive is to use what you purchased. Either use it for vacations every year to that resort or learn how best to exchange it for other locations. Owning a timeshare does force you to plan at least one vacation per year but that can be a good thing.

    The alternative (negative) is to take the credit hit. Tell the resort that you won't pay what you agreed to, and they will let the credit agencies know that you are a credit risk and can't be trusted to pay off the debts you take on. It will take some time to repair your credit history and you will need to be extra careful with money in the future.
     
  9. Panina

    Panina TUG Review Crew: Elite TUG Member

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    Hi, welcome to tug.

    Think of it like buying furniture, you got it on credit, you purchased it and a few weeks later you feel you paid too much or you don’t like it and no longer want it. It is yours and if you stop paying the furniture company can come after you for payment. It would affect your credit rating for years.

    Many of us purchase retail for our first timeshare, including me, when financially I should not have.

    I would try to rescind as others told you but your odds are low.

    Instead of thinking you are screwed, learn how to use it for your enjoyment. Timesharing for our family has been wonderful. Even though I regret buying from a developer my first timeshare I am glad it brought me to timesharing. I have traveled where I never could have afforded so long term it was worth it.

    Bluegreen has some nice resorts within their system to enjoy.
     
  10. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

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    Let me add here that those 'Get you out of your Time Share' outfits are all after your money, and have no tools or 'magic words' to end your ownership. DO NOT sign up with ANY of them.

    in short. Try writing a rescission letter in accordance to the rescission instructions in your contract. It probably won't work, but stranger things have happened. You'll feel better for trying. Next figure out exactly what you bought, and learn to use it. TUG can help. Then work as hard as you can to pay off that loan. It will take discipline, but obviously you saw value in timeshares when you made this purchase. Keep that in mind when you make those payments. And as soon as possible after you get notification from Bluegreen, book another vacation for yourself and the family. It will make the ownership feel like you have something of value to look forward to.

    Jim
     
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  11. Princ3ssgldy

    Princ3ssgldy Guest

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    At this point, it looks like you are stuck with it. If your issue now is financial hardship, your best bet is to leverage the points as income. You can try renting them out and hopefully recapture a good portion of your annual expenses, or you can even try reserving sought-after weeks in advance and renting them for a profit. You might even end up turning a profit.

    But the worst thing you can do is let them expire.

    Out of curiosity, how did you end up purchasing this timeshare? Did you accept a discounted vacation in exchange for sitting through a presentation?
     
  12. TUGBrian

    TUGBrian Administrator

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    try to rescind, certainly wont hurt your situation any and you might get lucky!
     
  13. riverajuan

    riverajuan Guest

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    I really appreciate every ones comments, I just worry about finances if they were to change. This like financing a car.
     
  14. Princ3ssgldy

    Princ3ssgldy Guest

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    According to GA law, you have 7 days to rescind, excluding Sundays and holidays, from the later of the signing of the contract or receipt of the public offering statement (POS). At my count, it's now been 11 days from the date on which you signed (assuming May 23, 2019), but you might have more time if you did not receive your POS when you signed the contract. I would send a rescission letter regardless ASAP, but especially if you did not receive your POS on or before May 29, I would state that explicitly in your letter! Good luck!!
     
  15. TheTimeTraveler

    TheTimeTraveler TUG Member

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    It is actually worse than a car because it is likely longer than 5 years!




    .
     
  16. Princ3ssgldy

    Princ3ssgldy Guest

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    And the payments increase annually.
     
  17. riverajuan

    riverajuan Guest

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    10 years to be exact. I have not received anything in the mail.

    God bless you all for your input. I am totally new to this.
     
  18. Princ3ssgldy

    Princ3ssgldy Guest

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    I hope you sent that letter out....
     
  19. riverajuan

    riverajuan Guest

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    Can I cancel my time share or this just another scam?
     
  20. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

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    Juan, if you haven't done anything about cancelling this purchase before now, despite all the advice to do so, I'm afraid you are a timeshare owner, just like the rest of us. So you may as well learn to use it, as the value in it is in it's use to give your family great vacations. Do what you can to pay off the loan you signed up to buy this. Then, and only then can you make the decision of whether to try to deed it back, or sell/give it away.

    We wish you well, and many happy vacations.

    Jim
     
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  21. Grammarhero

    Grammarhero TUG Member

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    Juan or Rivera, you really NEED to be on top of your TS commitments or following through on TUG advice. You had possible chance to cancel on 6/6/19 by sending a rescission but didn’t. With TS, you compete with other TS owners for the best rooms and dates. Change your attitude about TS. Learn to use the system. Make it a hobby.

    As for me, I paid $4.5k for a TS, rescinded in on day 2 after finding out about TUG, and had the offer to buy the SAME TS for $1. I acted fast. TS is not something to sit on, but you need to make a hobby for the best deals and rooms.

    I just accepted a $1 offer to buy a TS. I acted fast to rescind.


    Sent from my iPhone using Tapatalk
     
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  22. riverajuan

    riverajuan Guest

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    I understand what has been advised on this forum. The issue is I have yet receive anything from blue green, not only that Georgia rescind period was only 7 days and I found out about all the information posted here almost 10 days after.

    My question to this forum why if I don’t think it will be beneficial do I have no choice but to keep the time share. If I wanted to sale my house I could do it even know I have an active mortgage I am presently paying. Why can’t I do the same with a time share?
     
  23. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

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    Juan, it was never certain that you could rescind at 10 days after you signed the contracr, and Georgia law allows 7. We have seen lots of people be given the 'benefit of the doubt, and have reputable TS companies bend the rules a little. Other TS outfits will hold buyers to the letter of the law.
    What are you expecting they will send you? You walked out of that sales room with a bundle of papers, a contract that you signed telling what you bought. What more is there?

    The difference between buying your house and a TS is that it you don't pay the house mortgage, you can be evicted, and the loan foreclosed, and someone else can buy it and move in. With a TS, it has virtually no value as property. Someone else is already occupying your the space you agreed to pay for. If you don't pay, the company will sell your debt to a collector, who will start calling and writing you and ultimately, they will foreclose and write to the credit bureaus, your credit score will drop, and you will have this on your record for at least 10 years.

    At this point, the best thing for you to do is to start making those payments you agreed to, and double them up if you can to pay it off sooner, and spend time time on TUGs Blue Green forum and find out how you can use the TS to give your family some good memories and quality vacations. That, my friend, is the only true value in timeshares.

    We wish you well.

    Jim
     
    Last edited: Jun 20, 2019
  24. Grammarhero

    Grammarhero TUG Member

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    If you are not going to accept TUG advice, we don’t even know why you’re here.

    A TS is not the same as a house. Unless the housing market crashes, house values retain value. The resale value of your TS is $1. NO ONE will buy your TS from you for what you paid.

    You don’t have to keep your TS. You can refuse to make payments, which will wreck your credit.

    You had a chance of the resort willingly accepting your rescission three days past without affecting your credit, but refused to act on that TUG advice. That chance is now long gone.


    Sent from my iPhone using Tapatalk
     
  25. riverajuan

    riverajuan Guest

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    What I was told was that someone will contact me with a time and day at a resort in St. Petersburg,Fl where I was to go for an orientation on how to use the timeshare and also set my account where I can sign in an manage the account. I have yet to hear from them.
     

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