I read that collection agencies buy up defaulted debt pennies to the dollar to try to squeeze money out of people. Do you think this is what happened here?
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Can they hurt your credit score if they don’t have your SSN?
- Thread starter Slowlo
- Start date
March 16, 2024 at 10:45 Aivi
UPDATE!! It's been about a year and a half and I wanted to come give an update to our situation.
Especially to those that are going through the same thing and not finding many answers. That is why I started this thread.
My husband and I did stop payments. We first had phone calls from the resort, emails, and letters. Then resort recovery solutions has been calling.
We've gotten letters and emails once a month but it's been mainly phone calls about once a week to every other week. Since we stopped making the payments we have not talked with anyone (The Resort or debt collectors). We had a recommendation to avoid reading or hearing anything from them because they try to scare you. The calls come to my phone and I have blocked the number. Even though they are blocked they can still leave a message which they do every time. I just delete them. When we get the letters we just toss them.
They are still persistent after a year and a half but it has not affected our credit so far.
UPDATE!! It's been about a year and a half and I wanted to come give an update to our situation.
Especially to those that are going through the same thing and not finding many answers. That is why I started this thread.
My husband and I did stop payments. We first had phone calls from the resort, emails, and letters. Then resort recovery solutions has been calling.
We've gotten letters and emails once a month but it's been mainly phone calls about once a week to every other week. Since we stopped making the payments we have not talked with anyone (The Resort or debt collectors). We had a recommendation to avoid reading or hearing anything from them because they try to scare you. The calls come to my phone and I have blocked the number. Even though they are blocked they can still leave a message which they do every time. I just delete them. When we get the letters we just toss them.
They are still persistent after a year and a half but it has not affected our credit so far.
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It depends on where you are making the the payment to. Villa del Palmar uses Resortcom to handle the maintenance fee's and probably the loan payments for their American clients. Resortcom is based in Las Vegas and does pursue delinquent accounts. To what extent they pursue these I don't know.
The process for the Mexican debt collection is that the debt collector first obtains a Judgement in the Mexican Court before trying to receive a Judgement in the USA . This is costly.
The American company used to collect the maintenance fee's and loans for a Mexican company will contact the debtor and can report the delinquent payments. This doesn't cost much and they can prove that payments are missed. They can't take the debtor to court for a Judgement in the USA without obtaining a Judgement in Mexico first is kind of how it works afaik.
Bill
https://corporate.resortcom.com/timeshare-financial-services/
Last edited:
James_Bond007
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- Wyndham Grand Cancun
Hi,
Just signed up, Wife and I just got back from Cancun a couple of weeks ago, we did sign an agreement when at Wyndham Grand Cancun with Caracol Vacation Club, that is how they sold us on it, most of the presentation, which was a one on one (wife and I) at a breakfast setting, with a young Mexican Man (this was good as I got to have a good discussion with him while he did his spiel!), he mostly talked about saving $$ on future trips and such, it was only when we went to the meeting rooms where other ppl and sales reps were that we sat down with a Manager and the timeshare came up.. We declined at first for the bigger options, then they put us with an older guy, who was cool as well, and he went thru a checking out process, then he offered us a package for only $4200 US (we are from Canada), and I paid upfront about ($1500 can, $1080 US), with payments of $140US starting in June, to go on for 2yrs. We have other benefits from the vacation club side, 1 Dream Week, 14 Caracol Days, discounts on all sorts of travel, cruises etc,, and when the payments are done, 4 nights all inclusive back at the Wyndham Grand Cancun, but my wife is really not wanting to pay the balance off, so just asking for some opinions, with this little amount for the package, is it worth paying for it, and maybe using it, or just not paying the rest off and letting it go? From my research here is seems unless the amount owing is large, they won't come after Us here in Canada and it shouldn't affect my Credit Rating (unfortunately I gave them my SIN #).. Any advice would be appreciated, as I couldn't find anything on here in relation to Caracol Vacations, or Caracol Journey's thru Wyndham Grand Cancun (the resort is Awesome by the way)!
James
Just signed up, Wife and I just got back from Cancun a couple of weeks ago, we did sign an agreement when at Wyndham Grand Cancun with Caracol Vacation Club, that is how they sold us on it, most of the presentation, which was a one on one (wife and I) at a breakfast setting, with a young Mexican Man (this was good as I got to have a good discussion with him while he did his spiel!), he mostly talked about saving $$ on future trips and such, it was only when we went to the meeting rooms where other ppl and sales reps were that we sat down with a Manager and the timeshare came up.. We declined at first for the bigger options, then they put us with an older guy, who was cool as well, and he went thru a checking out process, then he offered us a package for only $4200 US (we are from Canada), and I paid upfront about ($1500 can, $1080 US), with payments of $140US starting in June, to go on for 2yrs. We have other benefits from the vacation club side, 1 Dream Week, 14 Caracol Days, discounts on all sorts of travel, cruises etc,, and when the payments are done, 4 nights all inclusive back at the Wyndham Grand Cancun, but my wife is really not wanting to pay the balance off, so just asking for some opinions, with this little amount for the package, is it worth paying for it, and maybe using it, or just not paying the rest off and letting it go? From my research here is seems unless the amount owing is large, they won't come after Us here in Canada and it shouldn't affect my Credit Rating (unfortunately I gave them my SIN #).. Any advice would be appreciated, as I couldn't find anything on here in relation to Caracol Vacations, or Caracol Journey's thru Wyndham Grand Cancun (the resort is Awesome by the way)!
James