• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 30 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 30th Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $21,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $21 Million dollars
  • Sign up to get the TUG Newsletter for free!

    60,000+ subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Confused a little

Goalie30

newbie
Joined
Apr 11, 2012
Messages
7
Reaction score
0
Points
0
Location
Ottawa, Ontario. Canada
Hi,

We bought a SVO a couple of years ago. We were told that we would be able to use our week during the year we are entitled to or we could use it outside the SVO system. When we called to do so,(we bought every second year on Orlando), we were told if we convert the week and use it through Interval. Can anybody help us please, at the moment we feel totally ripped off, we are thinking of selling. George at SVO the salesman we believed in what he was selling us, maybe we should have not been so trusting.

Regards
 

LisaRex

TUG Review Crew
TUG Member
Joined
Mar 10, 2007
Messages
6,792
Reaction score
317
Points
518
Location
'burbs of Cincinnati, OH
Resorts Owned
Used to own: WKORV-N; SVV - Bella
Hi,

We bought a SVO a couple of years ago. We were told that we would be able to use our week during the year we are entitled to or we could use it outside the SVO system. When we called to do so,(we bought every second year on Orlando), we were told if we convert the week and use it through Interval. Can anybody help us please, at the moment we feel totally ripped off, we are thinking of selling. George at SVO the salesman we believed in what he was selling us, maybe we should have not been so trusting.

Regards

I'm confused as to what you're confused about.

"...we were told if we convert the week and use it through Interval."

Please complete your thought here.
 

slum808

TUG Member
Joined
Aug 31, 2011
Messages
934
Reaction score
2
Points
128
Location
Honolulu
Hi,

We bought a SVO a couple of years ago. We were told that we would be able to use our week during the year we are entitled to or we could use it outside the SVO system. When we called to do so,(we bought every second year on Orlando), we were told if we convert the week and use it through Interval. Can anybody help us please, at the moment we feel totally ripped off, we are thinking of selling. George at SVO the salesman we believed in what he was selling us, maybe we should have not been so trusting.

Regards

I believe what they were trying to tell you is that there is no internal banking system. If you own a EOY, let say even years, you can not book a reservation through the resort on an odd year. What you can do is become a member of Interval International (II), and bank your week there. You can then use your banked week to try and exchange back into your home resort. II fees will apply. I'm not sure what resort or season you may have, so I can say how difficult the exchange would be.
 

DeniseM

Moderator
Joined
Jun 6, 2005
Messages
57,950
Reaction score
9,474
Points
1,849
Resorts Owned
WKORV, WKV, 2-SDO, 4-Kauai Beach Villas, Island Park Village (Yellowstone), Hyatt High Sierra, Dolphin's Cove (Anaheim)
Have you read the Starwood and Interval International FAQ at the top of this forum?

Also - I recommend that you first try to figure out how to use your timeshare, because the sad truth is that it has no resale value - you would probably have to give it away.
 
Last edited:

alexadeparis

TUG Review Crew
TUG Member
Joined
Jun 1, 2008
Messages
1,770
Reaction score
527
Points
474
Location
Phoenix, AZ
Resorts Owned
Points: Hilton EVEN, Hyatt ODD Annual: WSJ, HRA
I believe what they were trying to tell you is that there is no internal banking system. If you own a EOY, let say even years, you can not book a reservation through the resort on an odd year. What you can do is become a member of Interval International (II), and bank your week there. You can then use your banked week to try and exchange back into your home resort. II fees will apply. I'm not sure what resort or season you may have, so I can say how difficult the exchange would be.

Actually, if the OP purchased a mandatory unit, there is now a choice to bank staroptions, for a fee. (not sure what that is). That sort of works like an internal banking system, no?
 
Last edited:

jarta

TUG Member
Joined
Feb 1, 2008
Messages
2,916
Reaction score
1
Points
273
Location
Chicago
Actually, if the OP purchased a mandatory unit, there is now a choice to bank staroptions, for a fee. (not sure what that is). That sort of works like an internal banking system, no?

"George at SVO the salesman we believed in what he was selling us"

It's a developer week. No first use year has been disclosed by the OP. I assume the first usage year was 2011.

If it's odd year usage and no SVN reservation and no II deposit was made during 2011, the 2011 use has completely expired. Gonzo!

If it's odd year usage, there are no StarOptions to use or bank during 2012 and there is no available week to deposit in II until January 1, 2013. The next odd year usage would be in 2013.

The StarOptions from any week purchased from Starwood, all mandatory resale weeks and any voluntary resale weeks which have been retroed can now be banked for up to 2 years. 2011 was the initial banking year and, as a practical matter, only 4 and 5 Star Elites could bank 2011 StarOptions because of the last date the StarOptions had to be banked. The dates for banking are extended and fees for banking StarOptions drop depending on how many weeks are owned in the SVN. More is better. It's all in the Sticky. Salty
 

Goalie30

newbie
Joined
Apr 11, 2012
Messages
7
Reaction score
0
Points
0
Location
Ottawa, Ontario. Canada
We don't want our Timeshare

We bought a timeshare a couple of years ago and we just want to get rid of it. We are paying for the timeshare over the next 8 years but due to a job loss we can't afford it anymore. We don't want to wreck our credit rating just want to relieve our burden, can anybody help us with ideas on how to do it.

Thanks
 

DeniseM

Moderator
Joined
Jun 6, 2005
Messages
57,950
Reaction score
9,474
Points
1,849
Resorts Owned
WKORV, WKV, 2-SDO, 4-Kauai Beach Villas, Island Park Village (Yellowstone), Hyatt High Sierra, Dolphin's Cove (Anaheim)
We bought a timeshare a couple of years ago and we just want to get rid of it. We are paying for the timeshare over the next 8 years but due to a job loss we can't afford it anymore. We don't want to wreck our credit rating just want to relieve our burden, can anybody help us with ideas on how to do it.

Thanks

If your timeshare isn't paid off, it will be difficult if not impossible to get rid of, because the balance that you owe is likely to be more than the resale value. Except for the top hotel affiliated resorts, most timeshares are selling for 0-10% of original retail.

Now that you have posted, you are very likely to be contacted by scammers who will offer you deals that are "too good to be true." Here is the sniff test - if there is any upfront fee to you AT ALL - no matter what they call it - it's a scam. They will simply steal your upfront fee, and ride off into the sunset, leaving you owning the timeshare.
 

vacationhopeful

TUG Review Crew: Rookie
TUG Member
Joined
Sep 11, 2007
Messages
12,760
Reaction score
1,699
Points
498
Location
Northeast USA
Sorry, no one will take over your payments as almost all TSs can be had for under $20 with you paying closing, current years MFs, resort transfer fee, etc.

DO NOT PAY ANYONE any monies when they tell you they have a buyer, corporate travel/conference connection ... etc. It is a SCAM ...a RIPOFF ...a con.
Go look on eBAY and discover the truth ...

At best, the Timeshare chain or HOA may take back the deed to YOUR unit -- but most want 2 years of MFs paid and loan paid off.

Others will also tell you --- sometimes, a particular resort might do something better, if you share that ... you will get a better answer.
 

DeniseM

Moderator
Joined
Jun 6, 2005
Messages
57,950
Reaction score
9,474
Points
1,849
Resorts Owned
WKORV, WKV, 2-SDO, 4-Kauai Beach Villas, Island Park Village (Yellowstone), Hyatt High Sierra, Dolphin's Cove (Anaheim)
*I see that the OP bought a Starwood timeshare, and posted on that forum in the past, so I'm merging the threads for continuity.

Welcome back - If you bought DIRECTLY from Starwood - you have Staroptions and you can use them for Starwood Vacation Network trades.

If you bought RESALE, you may not have Staroptions, in which case, you need to use II - which is not a bad thing. With a little effort on your part, you can trade into some of Starwood's top resorts through II.

RESALE:

Sheraton Vistana Resort - NO Staroptions

Sheraton Vistana Villages - You may have Staroptions IF you bought in one of these phases: Bella and Key West phases only.
 
Last edited:

LisaRex

TUG Review Crew
TUG Member
Joined
Mar 10, 2007
Messages
6,792
Reaction score
317
Points
518
Location
'burbs of Cincinnati, OH
Resorts Owned
Used to own: WKORV-N; SVV - Bella
If it's in either the Key West or Bella phase, it may have some resale value, but I doubt it will be worth more than what you owe.

Another sad lesson as to why you should never finance a timeshare.
 

pathways25

TUG Member
Joined
May 17, 2009
Messages
365
Reaction score
7
Points
228
Location
San Francisco Bay Area
If it's in either the Key West or Bella phase, it may have some resale value, but I doubt it will be worth more than what you owe.

Another sad lesson as to why you should never finance a timeshare.

Here is a rare case where it might actually be beneficial to owe money on a timeshare (if it's owed to Starwood). Starwood will take back deeds in lieu of foreclosure. The OP should call loan servicing, tell them that they can no longer make the payments due to job loss and ask for a deed in lieu. Starwood will usually take the deed back instead of going through the time and expense of a foreclosure.
 
Top