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Best way to get rid of my Wyndham timeshare

J

Jack1978

newbie
Joined
Mar 25, 2024
Messages
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Resorts Owned
Wyndham
I am want to get rid of my Wyndham timeshare. I have one that is paid off but I made the mistake of buying extra points so now I owe abou 8K. I stopped making payments because I dnt have money because kids are in college and I need to pay for that. I have a collection agency sending letters to me already. I stopped paying in November 2023. I never answered the calls from Wyndham because there is no way I can pay 500 a month on the loan and the maintenances fees. What will happen, can they sue me and take the very little I have? I dnt own a house and dnt plan on buying one any time soon. Please help me!!
 
Jack1978 said:
I am want to get rid of my Wyndham timeshare. I have one that is paid off but I made the mistake of buying extra points so now I owe abou 8K. I stopped making payments because I dnt have money because kids are in college and I need to pay for that. I have a collection agency sending letters to me already. I stopped paying in November 2023. I never answered the calls from Wyndham because there is no way I can pay 500 a month on the loan and the maintenances fees. What will happen, can they sue me and take the very little I have? I dnt own a house and dnt plan on buying one any time soon. Please help me!!
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I don't think they can take anything you have. I think a phone call to tell them you cannot afford what you bought and want to have them take it back. They should be okay with that. But ignoring it is always a way to handle it because eventually they will stop trying to get money.

I am so sorry Wyndham talked you into buying something you cannot afford. It's so Wyndham.
 
What exactly do you own? Club Wyndham Access, a deeded week? At some point they will foreclose and the debt will be behind you. They may or may not issue a 1099-C for the debt they write off, so there could be tax implications. They are unlikely to seek any kind of recourse judgement. If they are even able to depends on the state where the timeshare is in.
 
Jack1978 said:
I am want to get rid of my Wyndham timeshare. I have one that is paid off but I made the mistake of buying extra points so now I owe abou 8K. I stopped making payments because I dnt have money because kids are in college and I need to pay for that. I have a collection agency sending letters to me already. I stopped paying in November 2023. I never answered the calls from Wyndham because there is no way I can pay 500 a month on the loan and the maintenances fees. What will happen, can they sue me and take the very little I have? I dnt own a house and dnt plan on buying one any time soon. Please help me!!
Click to expand...

They will probably turn it over for collection and ding your credit. It stays on the credit report up to the Statue of Limitations depending on where you live.

Bill
 
dioxide45 said:
What exactly do you own? Club Wyndham Access, a deeded week? At some point they will foreclose and the debt will be behind you. They may or may not issue a 1099-C for the debt they write off, so there could be tax implications. They are unlikely to seek any kind of recourse judgement. If they are even able to depends on the state where the timeshare is in.
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I have club Wyndham access, I have a deed at
dioxide45 said:
What exactly do you own? Club Wyndham Access, a deeded week? At some point they will foreclose and the debt will be behind you. They may or may not issue a 1099-C for the debt they write off, so there could be tax implications. They are unlikely to seek any kind of recourse judgement. If they are even able to depends on the state where the timeshare is in.
Click to expand...
I have Wyndham Club access and deed for Bonnet Creek. I have about 400,000 points but anytime I wanted to use them I couldn’t get any reservations. I was only able to visit resorts like the one on Atlantic City, the bonnet ceeek one and that’s about it.
 
Jack1978 said:
I have club Wyndham access, I have a deed at

I have Wyndham Club access and deed for Bonnet Creek. I have about 400,000 points but anytime I wanted to use them I couldn’t get any reservations. I was only able to visit resorts like the one on Atlantic City, the bonnet ceeek one and that’s about it.
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You may have bought it at Club Wyndham Bonnet Creek, but if it is Club Wyndham Access then it is not deeded. Bonnet Creek is a UDI resort. Meaning, you buy a set number of points at that resort and have ARP at Bonnet Creek and then can make a reservation at another Club Wyndham resort at 10 months. If you own Club Wyndham Access then you can make a reservation at any of the CWA resorts at 13 months to 10 months ARP. In either case, you might have to be willing to give the contract away for free in order to find someone to take it. Since you still owe on a loan and are in default, giving it away is not an option. If your credit score is already impacted negatively, then simply waiting for them to foreclose might be an option to consider.
 
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