Can I just walk away from my Taino,Bahama contract

[mjwoody2]

Does anyone have any idea if I can just stop paying my maintenance fee to Taino in the bahamas and simply let them take the unit back? I live in the US and wonder if they have any legal standing here...or ability to affect my credit rating..
PS: the unit was paid off in 1989, and we have just 14 yrs(14 wks) left of the 40 yrs(40wks) the contract was for.
Thanks in advance

 

[theo]

Does anyone have any idea if I can just stop paying my maintenance fee to Taino in the bahamas and simply let them take the unit back? I live in the US and wonder if they have any legal standing here...or ability to affect my credit rating..
PS: the unit was paid off in 1989, and we have just 14 yrs(14 wks) left of the 40 yrs(40wks) the contract was for.
Thanks in advance

Don't know if a Bahamas entity would bother to report / "ding" your credit rating for defaulting. Could they? Certainly. Would they? I don't know and won't speculate.

I will, however, ask the obvious question here --- have you inquired directly of the facility as to whether they would simply release you from the (apparently RTU) contract? Given the length (several decades) of your affiliation, they might just agree (...assuming, of course, that your annual fees are fully paid up to date).
You'll never know if you don't at least ask them.

 

[Passepartout]

Why not just give it away to a new owner in the TUG Bargain Deals. Then you (a) make someone happy, and (b) won't have to worry whether your credit will be dinged.

Just a thought.

Jim

 

[theo]

Why not just give it away to a new owner in the TUG Bargain Deals. Then you (a) make someone happy, and (b) won't have to worry whether your credit will be dinged.

Just a thought.

Jim

...and a very good thought it is, but I would recommend first clearly ascertaining (directly from the resort) whether a "contract transfer fee" would apply.
If so, you should learn exactly how much money is involved --- as well as considering (...before you advertise) whether you or a potential recipient will be paying it.
Rest assured that if the resort does charge a contract transfer fee, there ain't gonna be any transfer acknowledged or processed until someone pays it.

 

[TUGBrian]

this article covers most of the possibilities


http://tug2.net/timeshare_advice/stop_paying_for_timeshare.html

 

[mjwoody2]

Looks like I have a little homework...thanks for advice and yes I will definitely consider a sale to another TUG member

 

[mjwoody2]

Thought I would finally give an update on this thread...I listed my Taino Beach unit in bargain basement and rec'd no response from the TUG community. The only response I did receive was from the Timesharemen. That phone appt. ended poorly with the caller threatening legal action if I gave details to the TUG community(so I wont). So I finally began calling and emailing my resort and asked what the fee would be to be released from my commitment. The response was slow, but eventually I was told for 750.00 I could get out of my commitment. Paperwork was emailed, check was sent, and that burden is off my back. What a relief...nothing against Taino, they have had some tough times(Bahamas in general). May revisit timeshare ownership in the future and now I have TUG.

 

[TUGBrian]

we are glad to hear the resort provided you an option (if an expensive one) to reqliquish your unwanted and unsellable ownership

if you could provide me the username of the person who solicited you via the forums, tried to scam you, and then threatened you...ill be happy to ban them as we have no interest whatsoever in an entity like that participating on our forums.

feel free to send it to me privately via the forums, or email me at tug@tug2.net