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Bought Marriott [AP] Vacation club Points & stuck

Aaniva

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Hello,

This march my husband and I went to Phuket and stayed in Marriott where we came to know about the point system timeshare that using our points we can stay in any of the Marriott hotels and its partners properties around the world for 7-10 days a year depending upon the location. We payed out initial deposit and then split the rest into installment (Zero % interest). As soon as we payed our first installment, my sis-in-law was diagnosed with some major health issues and due to financial constraints we no longer can go ahead with this. we requested Marriott and explained them our situation but they seems to be rigid and won't return anything of our paid amount.
I was reading the posts on Tugs bb and seems the people are very experienced and helpful.. Can you help us out and tell us what options we have? Can we transfer this to someone and would people be happy to take this over when we have remaining amount outstanding on zero interest installments. We are ready to give even on 50% of what we have paid until now.
We have been approached by few Time share selling website but in order to advertise this they are charging another 399 USD. Does this seems to be useful?

Really appreciate your advise here
 
Last edited:

GreenTea

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You can advertise the points here on the sales page. But they are worth much less than what you are paying Marriott for them. Are they points on the Asia program? I hope someone with better information answers.
 

decadude

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my thoughts and opinions

Luckily I am not in the situation of owning a timeshare that I did not want BUT if I were then this is what I would do. Typically when I give advice I try to put myself in the shoes of the person.

Most of these give it back companies I have seen are scam artist I wouldn't trust em.

Scenario two is a WORSE CASE SCENARIO

Scenario One
See if I were within the window still to exercise buyers remorse for the state I purchased the timeshare in. If this did not apply I would move to Scenario two.

Scenario Two
If I owned a timeshare where I owed $20,000 or something bonkers like that and to my knowledge a lot of timeshare companies will not allow resale unless you have a warranty deed owing $0 so reselling this in most cases would NOT be an option if this applies. I would default on the timeshare and have it foreclosed ruining my credit and prior to doing so try to position myself where I wouldn't need a loan for a very long time and wait for the FCRAs statue of limitations for reporting the bad mark to fall off.

Scenario Three
If I owned the warranty deed owing a $0 balance on the timeshare and there was some resale value DVC timeshare etc then sell it for money try to recoup some of the money back out of it.

Scenario Four
If the timeshare was paid off and I had the warranty deed and there was no resale value I would see if the resort would take it back in some instances they do if it is paid off.

Scenario Five
If the timeshare was paid off and the resort would not allow deedbacks. Also the timeshare had no resale value then I would try to give it away for free. If really desperate I would try to offer an extra incentive like paying next years maintenance fees allow free usage for one year and pay closing cost etc.

Be very skeptical of give it back companies I personally wouldn't trust any of them. If you bought a timeshare from a resort I would say once burnt lesson learnt and try to not fall victim to other scams.
 

ccpinternational

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Since you bought Phuket points, I am pretty sure you are in Asia Pacific Point system, as Destination Points(US, Europe) do not sell in Asia and reserve for Phuket unit (except through Interval or Explorer option).

AP point is very expensive and I do not know how much you paid ( believe it is around $1/point and you need at least 60,000point to reserve for a platinum equivalent unit for a week . As a person who is the owner of Marriott Phuket Beach club and living in mainland China, I can tell you that AP points will be very difficult to sell unless you would like to discount your purchase price to half of what you paid to Marriott. I might be wrong, here has Tuggers who own points can give you better ideas.
 

bazzap

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33,000 AP points will be enough to reserve a week in Platinum season.
The current going rate per AP point is $1.20 with interest free loan or $1.10 for cash.
As for what Aaniva can do with the points now, with the change of circumstance, sadly it is well beyond any recission period and the value from any sale option will be much reduced.
I certainly wouldn't pay any company an up front fee for a sales listing (well, perhaps just a nominal amount to a Resale broker I had received a personal endorsement for?)
I know reliable European brokers and others will know reliable US brokers, some of these have some experience with buying and selling AP points but it is not their main focus.
I don't know if there are brokers in Singapore or elsewhere in Asia anyone can suggest.
If MVC won't offer any helpful suggestions as to what options might be available, it could be worth reaching out to existing AP points owners and Phuket Beach Club weeks owners who just might be interested.
I will certainly ask around whilst here at the resort.
 

wakelawyer

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Maybe I'm reading the OP incorrectly but it does not appear that Marriott won't work with the OP or let the OP out of the contract: the issue appears to be that the OP wants a return of monies already paid and Marriott is saying no.

Hello,

we requested Marriott and explained them our situation but they seems to be rigid and won't return anything of our paid amount.

We are ready to give even on 50% of what we have paid until now.

If that is the case, then I think that Marriott is doing more than most of us would expect. I think that you have to assume that all monies paid already are lost and the question is whether you can limit future expenses. It looks like this may be an option here. If so, the OP is in a better position than many that come here for advice.
 

MALC9990

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The OP has a contract and is stuck with it I am afraid. The loan will have been placed with a finance company and until the loan is paid off the points cannot be sold. MVCIAP will not transfer ownership whilst the loan has a balance outstanding. This is why it is not a good idea to finance TS purchase with a loan.

Anything paid already is lost. Defaulting on the loan could have implications for credit records.

This is a mess and I do not see many options here.
 

icydog

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Make Lemonade out of Lemons

Take your time and learn how the point system works. You will learn a lot here on Tug.

Once you pass the recession period your option to return those points is over. So learn how to use your points and enjoy many years of vacations.
 
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