[ 2022 ] Timeshare Default Credit Report/Collection Tracking

[Robin4]

Hope someone can advise....I have previously posted re management fees and got some great support and advice from TUG folks. I live in the UK, have a timeshare at Cliffs At Peace Canyon (no mortgage and trying to give it away here on TUG) and have been in communication with resort for many months about deedback which they just will not consider unless I can prove hardship or medical reasons for wanting to deedback property. We have provided some info but the company does not seem to appreciate the differences between UK and USA systems or they are just not interested in doing so to no avail.
You will all be aware that due to Covid restrictions, there are very few places on the entire planet that people in the UK can travel to so we have not been able to use / exchange. I have not paid my management fees this year (although would do so if someone wanted to take timeshare and give them the 90K RCI points that are languishing in my account too) and have approached resort about a reduction in same but to no avail. This morning I received a letter from Aspen National Collections advising that if I do not pay management fees + $217 'fees' (not sure what this is), I will be reported to a debt collection agency. Any advice on what I should do would be gratefully received.
I have been advised to ignore the letter as it is unlikely that I could be pursued because I live in the UK. However, this is a great worry for me hence posting here.

 

[daverunfast]

Vacation villages, what an organization, really taking care of their "owners".

Pitch it in the bin. Empty threats. If they do manage to get on your credit report (unlikely), dispute it.

If you have a deed, one day you'll get a letter from a group looking to remove vacation villages and sell the real estate. Give them the deed.

 

[SmithOp]

Hope someone can advise....I have previously posted re management fees and got some great support and advice from TUG folks. I live in the UK, have a timeshare at Cliffs At Peace Canyon (no mortgage and trying to give it away here on TUG) and have been in communication with resort for many months about deedback which they just will not consider unless I can prove hardship or medical reasons for wanting to deedback property. We have provided some info but the company does not seem to appreciate the differences between UK and USA systems or they are just not interested in doing so to no avail.
You will all be aware that due to Covid restrictions, there are very few places on the entire planet that people in the UK can travel to so we have not been able to use / exchange. I have not paid my management fees this year (although would do so if someone wanted to take timeshare and give them the 90K RCI points that are languishing in my account too) and have approached resort about a reduction in same but to no avail. This morning I received a letter from Aspen National Collections advising that if I do not pay management fees + $217 'fees' (not sure what this is), I will be reported to a debt collection agency. Any advice on what I should do would be gratefully received.
I have been advised to ignore the letter as it is unlikely that I could be pursued because I live in the UK. However, this is a great worry for me hence posting here.

I don’t see where you have advertised it here in the Bargain Deals forum, as well as the TUG Marketplace. Review some of the message threads there to see the information you need to provide, you need to sell it with a good description of the benefits. If you are offering the 90k RCI points,and it has a decent annual allotment of points it should be desirable, there are people looking for RCI point generators.

You should keep your fees up to date to enhance the probability of being able to give it away.

Of course you could also ignore the attempts to collect the overdue fees, only you can determine if that is worth peace of mind that a collector will not come knocking on your door.

 

[week5]

Updated stats

TS defaults w credit drops: 25 out of 61

TS defaults w collections: 6 out of 61

TS defaults w liens: 2 out of 61

MF defaults w credit drop: 6 out of 33

Mortgage defaults w credit drops: 18 out of 28

Canadians default on US TS w credit drops: 0 out of 10

Intls (inc. Canadians) default on US TS w credit drops: 0 out of 11.

US defaults on intl TS w credit drops: 0 out of 1

Wyndham defaults w credit drops: 4 (3 loans, 1 MF) out of 9 (6 loans, 3 MF)

Sheraton defaults w credit drops: 2 out of 2 (1 loan, 1 MF)

VV defaults w credit drops: 1 (loan) out of 6 (2 loan, 4 MF)

Diamond defaults w credit drops: 1 out of 3 (all 3 MF)

Silverleaf defaults w credit drops: 2 out of 2 (both loans)

BG defaults w credit drops: 1 out of 2 (both loans)

HIVC defaults w credit drops: 4 out of 5 (all 5 loans)

Westgate defaults w credit drops: 0 out of 2 (both loans)

Marriott defaults w credit drops: 0 out of 2 (both MF)

Hilton defaults w credit drops: 1 out of 2 (both loans)

WorldMark default w credit drops: 1 out of 1 (loan)

independent/other: 6 (1 MF, 5 loans) out of 19 (6 loans, 13 MF)

undisclosed: 5

What has been the experience with not paying maintenance fees on Spinnaker @ Shipyard in Hilton Head? I don't live in SC where the resort is located.Thank you for any information you van give me.

 

[daverunfast]

What has been the experience with not paying maintenance fees on Spinnaker @ Shipyard in Hilton Head? I don't live in SC where the resort is located.Thank you for any information you van give me.

I don't own there but suspect they will threaten collections, try to upsell, then do nothing.

Probably, independent/other in that table. Stop paying, finding another bag holder is just perpetuating the problem. Keep the deed if you have one, the HOA might want that later.

Any vacation club that won't allow cancellation is a scam and vacation clubs running building that were sold as HOA controlled fractional deeds the worst kind. Your deeded real estate and they're business are not one in the same.

 

[dundey]

Great info! Any data on defaults of international timeshares for US owners?

 

[ALLTRAVEL]

Vacation villages, what an organization, really taking care of their "owners".

Pitch it in the bin. Empty threats. If they do manage to get on your credit report (unlikely), dispute it.

If you have a deed, one day you'll get a letter from a group looking to remove vacation villages and sell the real estate. Give them the deed.

Have you had experience with not paying vacation villages? I have a T/S at Grandview and I would like to stop paying but the T/S is in my husbands name too. Is there a way to get it out of his name?

 

[daverunfast]

Have you had experience with not paying vacation villages? I have a T/S at Grandview and I would like to stop paying but the T/S is in my husbands name too. Is there a way to get it out of his name?

No, not with vacation villages, but with a similar organization. I really wouldn't hesitate to stop paying.... Contact owner relations or whoever and tell them they can have the deed back if they want but you won't pay. They'll try to cross sell you, make threats about collections, then ultimately do nothing.

They may have a claim against you for maintenance fees but also may not depending on what you "own". Either way the threat is empty because they don't want title back and prefer to threaten collections.

As I told the other person, someone may want the deed one day after VV is gone or reorganized. You can't borrow against the real estate unless the title is insurable.

Sent from my Pixel 4a using Tapatalk

 

[Grammarhero]

Have you had experience with not paying vacation villages? I have a T/S at Grandview and I would like to stop paying but the T/S is in my husbands name too. Is there a way to get it out of his name?

Out of 6 VV defaults, 1 resulted in a credit drop. One was told to me in person.

https://tugbbs.com/forums/threads/anyone-has-stopped-paying-maintenance-fees-what-happened.296893/page-3#post-2352784 https://tugbbs.com/forums/threads/canadian-with-a-timeshare-in-florida.298837/#post-2367946 https://tugbbs.com/forums/threads/2-tug-fb-users-default-w-no-credit-decreases.300905/ https://tugbbs.com/forums/threads/t...eport-collection-tracking.304138/post-2439202

 

[Grammarhero]

What has been the experience with not paying maintenance fees on Spinnaker @ Shipyard in Hilton Head? I don't live in SC where the resort is located.Thank you for any information you van give me.

Nothing for Spinnaker. Sorry!

 

[Grammarhero]

No, not with vacation villages, but with a similar organization. I really wouldn't hesitate to stop paying.... Contact owner relations or whoever and tell them they can have the deed back if they want but you won't pay. They'll try to cross sell you, make threats about collections, then ultimately do nothing.

They may have a claim against you for maintenance fees but also may not depending on what you "own". Either way the threat is empty because they don't want title back and prefer to threaten collections.

As I told the other person, someone may want the deed one day after VV is gone or reorganized. You can't borrow against the real estate unless the title is insurable.

Sent from my Pixel 4a using Tapatalk

@daverunfast We hope you are well and healthy. If you make the difficult decision to default, please kindly let us know if you credit got affected. It would help tuggers in similar situations moving forward.

 

[Grammarhero]

No, not with vacation villages, but with a similar organization. I really wouldn't hesitate to stop paying.... Contact owner relations or whoever and tell them they can have the deed back if they want but you won't pay. They'll try to cross sell you, make threats about collections, then ultimately do nothing.

They may have a claim against you for maintenance fees but also may not depending on what you "own". Either way the threat is empty because they don't want title back and prefer to threaten collections.

As I told the other person, someone may want the deed one day after VV is gone or reorganized. You can't borrow against the real estate unless the title is insurable.

Sent from my Pixel 4a using Tapatalk

@daverunfast We hope you are well and healthy. If you make the difficult decision to default, please kindly let us know if you credit got affected. It would help tuggers in similar situations moving forward.

 

[Grammarhero]

New stats with nine new data points. Will post the nine new data points once I black out names. Another interesting observation. Defaults on TUG BBS tend to be MF, while defaults on TUG FB tend to be mortgage. Maybe posters on TUG BBS, as paid members, are self-selective and more knowledgeable about TS.

TS defaults w credit drops: 36 out of 85

TS defaults w collections: 6 out of 85

TS defaults w liens: 2 out of 85

MF defaults w credit drop: 7 out of 43

Mortgage defaults w credit drops: 29 out of 42

Canadians default on US TS w credit drops: 0 out of 11

Intls (inc. Canadians) default on US TS w credit drops: 0 out of 12

US defaults on intl TS w credit drops: 1 (MX) out of 4 (3 MX, 1 SA)

Wyndham defaults w credit drops: 4 (3 loans, 1 MF) out of 9 (6 loans, 3 MF)

VV defaults w credit drops: 1 (loan) out of 6 (2 loan, 4 MF)

Diamond defaults w credit drops: 1 out of 7 (all 7 MF)

HIVC defaults w credit drops: 7 (6 loans, 1 MF) out of 8 (7 loans, 1 MF)

Westgate defaults w credit drops: 1 out of 3 (all loans)

Sheraton defaults w credit drops: 2 out of 2 (1 loan, 1 MF)

Silverleaf defaults w credit drops: 2 out of 2 (both loans)

BG defaults w credit drops: 2 out of 3 (all loans)

Marriott defaults w credit drops: 1 out of 2 (both MF)

Hilton defaults w credit drops: 2 out of 3 (all loans)

WorldMark default w credit drops: 1 out of 1 (loan)

Welk default w credit drops: 2 out of 3 (all loans)

independent/other: 7 (1 MF, 6 loans) out of 20 (7 loans, 14 MF)

undisclosed: 11

 

[Grammarhero]

Data points

 

[Grammarhero]

More Data points

 

[Grammarhero]

Updated with now 90 data points.

TS defaults w credit drops: 37 out of 90

TS defaults w collections: 8 out of 90

TS defaults w liens: 2 out of 90

MF defaults w credit drop: 7 out of 46

Mortgage defaults w credit drops: 31 out of 44

Canadians default on US TS w credit drops: 0 out of 11

Intls (inc. Canadians) default on US TS w credit drops: 0 out of 12

US defaults on intl TS w credit drops: 1 (MX) out of 6 (5 MX, 1 Aus)

Wyndham defaults w credit drops: 5 (4 loans, 1 MF) out of 10 (7 loans, 3 MF)

HIVC defaults w credit drops: 7 (6 loans, 1 MF) out of 8 (7 loans, 1 MF)

Diamond defaults w credit drops: 1 out of 7 (all 7 MF)

VV defaults w credit drops: 1 (loan) out of 6 (2 loan, 4 MF)

Welk default w credit drops: 3 out of 4 (all loans)

Westgate defaults w credit drops: 1 out of 3 (all loans)

BG defaults w credit drops: 2 out of 3 (all loans)

Hilton defaults w credit drops: 2 out of 3 (all loans)

Sheraton defaults w credit drops: 2 out of 2 (1 loan, 1 MF)

Silverleaf defaults w credit drops: 2 out of 2 (both loans)

Marriott defaults w credit drops: 1 out of 2 (both MF)

WorldMark default w credit drops: 1 out of 1 (loan)

independent/other: 7 (1 MF, 6 loans) out of 21 (7 loans, 15 MF)

undisclosed: 11

 

[malia]

Bought and paid off a floating week at Kona Islander Resort in Hawaii from Consolidated Resorts, managed by Soleil Mgmt in Las Vegas in 2008. In 2019 I stopped mf payments, mind you I wrote letters to Consolidated who replied they don't handle deed backs and a letter to Kona's Vacation Club President telling them my financial situation in which I haven't had a response. Since then I have not received any annual mf bill, it's not hit my credit and no one has tried to contact me, but I still get annual ballot/proxy to vote from Soleil Mgmt though.

 

[guy33]

Thank you for posting this forum. It has both legal and moral ramifications for many people. The Fair Credit Reporting Act (FCRA) should never become a mechanism for vindictive revenge-seekers. If a resort reports default to the Credit Bureau, they should immediately allow the owner to use the interval in question, otherwise, they charged off a debt, hired a collections agent, and denied the client the service or product referenced on the credit report. Even if the owner pays back maintenance fees, they receive nothing in return. Something is wrong with the system.

 

[Muehlman]

has anyone from Canada stoped paying MF to promotora sunset beach clubs? feedback on what happened please.

 

[Grammarhero]

One more data point

 

[Grammarhero]

has anyone from Canada stoped paying MF to promotora sunset beach clubs? feedback on what happened please.

If it helps, out of 11 TS defaults by Canadians reported on TUG, 0 got reported to the Canadian credit agencies. Check out the links below. One Canadian MF defaulter was told to me in confidence, so I cannot reveal that. Out of 1 TS defaults by English reported on TUG, 0 got reported to the English credit agencies.

[ 2019 ] anyone has stopped paying maintenance fees, what happened ?

I’m so sorry for just replying. I hadn't checked back in a while. Both of my sister’s timeshares were paid for initially. I gave her the Ocean Beach & Racquet Club about 20 years ago. The Shawnee was found on EBay for $1.00, also 20 years ago. She used both timeshares for a few years, but...

tugbbs.com

https://tugbbs.com/forums/threads/t...eport-collection-tracking.304138/post-2622684

https://tugbbs.com/forums/threads/timeshare-default-credit-report-collection-tracking.304138/

https://tugbbs.com/forums/threads/a...fees-what-happened.296893/page-7#post-2396547

https://tugbbs.com/forums/threads/canadian-with-a-timeshare-in-florida.298837/#post-2367946

https://tugbbs.com/forums/threads/a...fees-what-happened.296893/page-3#post-2352822

 

[jj2]

I don't think I'd run into a fraud issue if the owner of the S-Corp wasn't me as I could get a friend to create the S-Corp. But obviously that's a pretty convoluted way to dump it.

Regarding giving it away, find me an owner on hear that successfully gave away a Sands of Kahana Unit and paid all the closing/transfer fees. I bet those $0 and $1 listings have been sitting on Redweek forever. Notice how the one that sold for $250 the maintenance is $1800 for a 2-bedroom and the identical listing for a floating 2-bedroom is showing maintenance of $1300. The $1300 was probably the MF 3-5 years ago. Which begs the question why did someone buy the same unit for $250 with higher listed maintenance fee presumably a newer listing? Is being marked as sold on Redweek any proof it was actually sold versus abandoned, given away, etc?

 

[Grammarhero]

Updated with 94 data points. Note, I included two (2) new categories accounting for TUG BBS v. FB defaults. 53 percent of TS defaults reported on TUG BBS are MF, compared to 44 percent on TUG FB.

TS defaults w credit drops: 40 out of 94

TS defaults w collections: 9 out of 94

TS defaults w liens: 2 out of 94

MF defaults w credit drop: 8 out of 47

Mortgage defaults w credit drops: 33 out of 47

TUG BBS defaults: 32 MF/ 28 loan

TUG FB defaults: 15 MF/ 19 loans

Canadians default on US TS w credit drops: 0 out of 11

Intls (inc. Canadians) default on US TS w credit drops: 0 out of 12

US defaults on intl TS w credit drops: 4 (all MX, 3 loans, 1 MF) out of 9 (8 MX, 1 Aus)

Wyndham defaults w credit drops: 5 (4 loans, 1 MF) out of 10 (7 loans, 3 MF)

HIVC defaults w credit drops: 6 (5 loans, 1 MF) out of 7 (6 loans, 1 MF)

Diamond defaults w credit drops: 1 out of 7 (all 7 MF)

VV defaults w credit drops: 1 (loan) out of 6 (2 loan, 4 MF)

Welk default w credit drops: 3 out of 4 (all loans)

Westgate defaults w credit drops: 1 out of 3 (all loans)

BG defaults w credit drops: 2 out of 3 (all loans)

Hilton defaults w credit drops: 2 out of 3 (all loans)

Sheraton defaults w credit drops: 2 out of 2 (1 loan, 1 MF)

Silverleaf defaults w credit drops: 3 out of 3 (all loans)

Marriott defaults w credit drops: 1 out of 2 (both MF)

WorldMark default w credit drops: 1 out of 1 (loan)

independent/other: 7 (1 MF, 6 loans) out of 21 (7 loans, 15 MF)

undisclosed: 11

 

[santer]

Some of you know I have been tracking this. Out of four (4) more TS defaults reported on TUG Facebook, one (1) got his credit affected.

It’s a start, but I have tabbed the following stats:
1) out of 43 reported defaults, 13 got reported to the credit agencies
2) out of 26 MF defaults, 4 got reported to the credit agencies.
3) out of 17 TS mortgage defaults, 9 got reported to the credit agencies.

@Fredflintstone @CPNY @Passepartout @RX8 @CalGalTraveler

Any statistics for Mexican not paying MF on Mexican TS?

 

[Goods3481]

Anyone with experience not paying MF on paid off timeshare Summerbay Orlando?