Hello all,
I made this account due to inability to find anything specific to my situation thus far.
Backstory: I signed with HGVC in May 2021. My contract entails 3,520 points every even year of the platinum season at Las Palmeras. I have monthly payments of $189, which I have always paid on time, with a $10,278 remaining principal balance. My maintenance fees are $900+ every even year. I was only 22-years-old at the time of this purchase, and certainly didn't understand what I was getting into.
Deceit: Just like anyone else, I was told this was an investment. I was told this would help build my credit. I was told annual fees do not increase, and that I could book anywhere any time I wanted. I explained I am enlisting in the military and that I am concerned I would be unable to make good use of the timeshare, and was told I was being given a deal for my military interest and that my timeshare would be bought back by the resort if I so choose. Most importantly, I was told this would be a ten-year payment fixed at $189/mo. Obviously, that's not going to happen with this interest rate.
Problem: I want out of the timeshare contract. I understand I signed a contract by my own will. I do not expect any reimbursement. I realize I am far beyond a rescission period, which I was never informed of as a possibility either.
I have received orders to deploy overseas for the next year. I am an Army Reservist, and could not have anticipated these orders which will now result in a large pay cut from my civilian job when not on active duty/full-time military as I now will be. This will be a year of largely decreased income due to these military orders, and I simply cannot afford the burden of this debt at my young age especially.
Details: I have tried to contact HGVC (e-mails, voicemail.) They simply will not respond to me. I have taken several initial consultation phone calls with timeshare exit teams as well as selling opportunities. As I still owe over $10k, I do not believe selling is an option at all. I cannot find any information or contact for Hilton Exit Opportunities, but have read on forums such as this I likely do not qualify with an outstanding loan. Timeshare Exit Teams sound like my best option, but are obviously still very expensive and I don't know who to trust with all the scams out there. Can I cancel this contract on my own by sending letters and contacting HGVC? Should I stop making payments? I've read some guidance suggesting attempting foreclosure, but again, I am very young and currently have a good credit score I would like to protect if possible, and I am aware a delinquency debt and judgment by HGVC could still become an issue.
Desperate and looking for any guidance or experience at all. Thank you very much.
P
I made this account due to inability to find anything specific to my situation thus far.
Backstory: I signed with HGVC in May 2021. My contract entails 3,520 points every even year of the platinum season at Las Palmeras. I have monthly payments of $189, which I have always paid on time, with a $10,278 remaining principal balance. My maintenance fees are $900+ every even year. I was only 22-years-old at the time of this purchase, and certainly didn't understand what I was getting into.
Deceit: Just like anyone else, I was told this was an investment. I was told this would help build my credit. I was told annual fees do not increase, and that I could book anywhere any time I wanted. I explained I am enlisting in the military and that I am concerned I would be unable to make good use of the timeshare, and was told I was being given a deal for my military interest and that my timeshare would be bought back by the resort if I so choose. Most importantly, I was told this would be a ten-year payment fixed at $189/mo. Obviously, that's not going to happen with this interest rate.
Problem: I want out of the timeshare contract. I understand I signed a contract by my own will. I do not expect any reimbursement. I realize I am far beyond a rescission period, which I was never informed of as a possibility either.
I have received orders to deploy overseas for the next year. I am an Army Reservist, and could not have anticipated these orders which will now result in a large pay cut from my civilian job when not on active duty/full-time military as I now will be. This will be a year of largely decreased income due to these military orders, and I simply cannot afford the burden of this debt at my young age especially.
Details: I have tried to contact HGVC (e-mails, voicemail.) They simply will not respond to me. I have taken several initial consultation phone calls with timeshare exit teams as well as selling opportunities. As I still owe over $10k, I do not believe selling is an option at all. I cannot find any information or contact for Hilton Exit Opportunities, but have read on forums such as this I likely do not qualify with an outstanding loan. Timeshare Exit Teams sound like my best option, but are obviously still very expensive and I don't know who to trust with all the scams out there. Can I cancel this contract on my own by sending letters and contacting HGVC? Should I stop making payments? I've read some guidance suggesting attempting foreclosure, but again, I am very young and currently have a good credit score I would like to protect if possible, and I am aware a delinquency debt and judgment by HGVC could still become an issue.
Desperate and looking for any guidance or experience at all. Thank you very much.
P
