• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 30 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 30th Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $21,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $21 Million dollars
  • Sign up to get the TUG Newsletter for free!

    60,000+ subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Any options

schani21

newbie
Joined
Jun 23, 2010
Messages
4
Reaction score
0
Points
0
Hey guys,

I have been a wyndham/RCI member for 4 years now. I owe a little less than 5K on my 150K biannual points membership. I know it is impossible to get out, but I wanted to ask if you know of anyone that would like to take over my timshare as is to take over the payments, or do you know of any other way to get out at this point.

I am trying to do what I can to right my financial ship and the $130 per month with payment and Maintenance fees are a bit of a burden when that money should be going to other bills.

If anyone is interested or has advice, please let me know.

Thank you,

Dan in Wisconsin

[phone number deleted so you don't get a lot of calls from scammers - DeniseM Moderator]
 
Last edited by a moderator:

Cheryl20772

TUG Member
Joined
Aug 5, 2010
Messages
867
Reaction score
16
Points
228
Location
Maryland, USA
I am trying to do what I can to right my financial ship and the $130 per month with payment and Maintenance fees are a bit of a burden when that money should be going to other bills.

If anyone is interested or has advice, please let me know.
Dan, I'm afraid you have fallen victim to the harshest reality of TS ownership. When we buy retail, our purchase is worth nearly zero the very day our recision period expires.

When others are giving what you offer away for nothing or even paying others to take over their contracts, I don't see how there's any hope of getting out of a contract with a mortgage today.

Personally, I would be looking at how to find an extra $5,000 to retire that mortgage. With the jobs market as it is today, it's not so easy to get a second job, but there may be openings with the holidays near for something temporary.

I feel your pain and wish you well, but there's no easy out in sight for this problem.
 

am1

TUG Member
Joined
Dec 3, 2009
Messages
8,127
Reaction score
1,544
Points
448
I just want to say that is good advice. Your timeshare will most likely cost you more than what you owe Wyndham to get rid of it.
 

Rob&Carol Q

newbie
Joined
Dec 10, 2009
Messages
535
Reaction score
0
Points
16
Location
Miamisburg, Ohio
Sorry dude...I know how those shoes feel. I bought Retail once upon a time.

Bad news is that the loan is yours to have and to hold, in sickness and in health....blah, blah, blah

Good news is that you CAN get out from under the Maintenance Fee by unloading the TS to some other person. Or minimize the MF impact by renting out a stay to another person...might be able to recoup a decent portion of the MF that way. IDK for sure, I've never rented out my points. Lots of expertise in that arena on thses boards, read the Rental threads.

But before you do anything drastic, think about why you bought the TS and if that reason is still valid to you today. Do you use the TS? Do you exchange?

If you truly beleive that you need to get away from the TS, offer it up on the Bargain Basement or try your hand at ebay, Redweek, or whatever. Just understand that the loan is yours to keep...and you won't get anything of value by selling the TS...in fact, you might have to offer up closing costs to finish the deal. Yeah, buyers market out there right now...big time.

And never, ever, pay anybody an upfront fee to sell your TS. That's where the scammers are hiding. And don't even bother contacting the companies that send you those little post cards...
 

rrlongwell

newbie
Joined
Jan 14, 2011
Messages
2,770
Reaction score
1
Points
0
Location
Mechanicsburg, Pa.

The only thing I can add might be see if someone on Tugs might manage the account for you for a percent of the rental. I understand vacation rentals get 30 to 40 percent for the group renting them. Do not pay any up front fees for this and do not use RCI. It is my understanding that technically, RCI does not permit people to rent under their terms of use policy. Where are the points deeded to?
 

schani21

newbie
Joined
Jun 23, 2010
Messages
4
Reaction score
0
Points
0
Thanks, I appreciate it. I can afford it, it just would be nice to put that extra money into our savings, retirement, pay off student loans.. You know the important things.

Good advice I have people who want to rent for the wyndham resorts at Glacier Canyon in the Wis Dells, however it is always booked by the time I receive a request to rent. Any suggestions on that then?
 

rrlongwell

newbie
Joined
Jan 14, 2011
Messages
2,770
Reaction score
1
Points
0
Location
Mechanicsburg, Pa.
Thanks, I appreciate it. I can afford it, it just would be nice to put that extra money into our savings, retirement, pay off student loans.. You know the important things.

Good advice I have people who want to rent for the wyndham resorts at Glacier Canyon in the Wis Dells, however it is always booked by the time I receive a request to rent. Any suggestions on that then?

Two ways to handle this, have them commit 10 months out or, if you know them, enter into an agreement where they pay you the agreed upon rental and make it a multiyear contract where they can pick the locations they want. Make sure if you go the 2nd way that the contract is clear, the get the points regardless of location and that you will make the reservations on their behalf.

Just checked availability for the resort in question and this showed up as the first available date. Hope your friends want it.

Check-In Nights Unit Type Details Points
Points
OCTOBER
10/28/2011 7 2 Bedroom Deluxe 77,000
 
Last edited:
Top