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Cancelling a membership [GEO Holidays.]

J

johnBG

newbie
Joined
Jul 25, 2016
Messages
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Location
Toronto, Ontario, Canada
Hi. Can anyone tell me how to go about cancelling a timeshare membership? The one I have is with GEO Holidays. I bought it in 1992 and 40 year term. Can this be cancelled? The contract states that if membership is not paid the company can pursue legal actions OR Alternatively cancel/suspend the membership. Has anyone had experience with cancelling a membership with GEO Holidays?

Thanks
JohnBG
 
You can't cancel it - you have a contractual obligation and they want you to keep paying the maintenance fee.

If you stop paying, the management company will eventually foreclose and take it back, but it may take 2-3 years, and in the mean time they will turn you over to collections and try to get you to pay up by making your life miserable.

A much better option is to give it away to someone who wants it.

How can I give my timeshare away on TUG: http://www.tugbbs.com/forums/showthread.php?t=132509

Very important - do NOT pay someone to "take it off your hands." That is very often a SCAM.

Another option is to deed it back to the resort - to do this, you need to contact the resort management company (not the front desk) and see if they will accept a deed back. The trick is working your way up the food chain to find someone who has the authority to accept it back. The entry level people will just say NO.
 
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believe this is a travel club vs an actual deeded timeshare ownership?

what did they say when you called and asked to end your ownership?
 
When I did mention that I am on a fixed income and can't really afford the cost anymore, the person on phone said that there would be a $1000 fee. Some time later, the same person said that was not longer an option.

Thanks
John
 
Travel Club ( 40 yr RTU ) vs deeded for Canadian owners

Geo is a RTU travel club where the club owns the deeds or similar .

There are possible IRS tax implications for Canadians owning USA property and this format ( RTU / travel club ) eliminates any issues .

100 % true or just a possibility - my guess is that is how memberships
were marketed .

.
 
johnBG said:
When I did mention that I am on a fixed income and can't really afford the cost anymore, the person on phone said that there would be a $1000 fee. Some time later, the same person said that was not longer an option.

Thanks
John
Click to expand...
Hi John. Any luck ?? I find myself trapped in same situation
 
Sparky16 said:
Hi John. Any luck ?? I find myself trapped in same situation
Click to expand...
The person you inquired of has not been on TUG for 2 1/2 years. Unlikely you'll get a response. Continuing to commiserate about your 'situation' won't be helpful either. The law in EVERY state allows a 'cooling off' period within which a buyer can rescind and it's as if the purchase never happened. After that time, it's assumed that the buyer wants the purchase to go forward. Options remain. The new owner can pay off the contract. They can sell the contract (if they can find a buyer). If they are truly in hardship, every state has bankruptcy laws, and such debt in 'negatively valued' (worthless) assets can be discharged. You should know that there are no magic words or letters any law firm can say or write that can make a lawfully drawn contract just 'go away'.

So we implore you to stay away from any and all of those promisers with 'no upfront fees (they really do have them) and guarantees (they don't). All they want is more of your money.

If you truly can't afford this purchase. Cancel the cards or accounts they have access to and don't pay them anything. It may take some time (years) but eventually, they will get tired of not getting a response from you, they will sell your contract to a collector for pennies, and it starts all over again until the trashman gets tired of hauling it away.

Most of us (though not all) decided to pay it off and learn to use the club to take some vacations.

Whatever you decide, we wish you well.

Jim
 
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