Due to Injury=Need to give /sell Krystal International Vacation Club puerto vallarta studio

[rbkraft]

Hi,
After 4 back operations -90% rods in my back--Need to give /sell Krystal International Vacation Club puerto vallarta studio have 20 years left.
I have no clue how to do this--The resort wants $1300.00+ to deed it back.
Prefer someone to do what is needed. Please share with me what to do--who to use to get rid of it.
Thanks
Rick

 

[jwalk03]

Mexican Vacation Clubs are RTU not deeded ownership- you can likely just stop paying them and they will terminate your membership eventually. Assuming the initial purchase is paid off and its just yearly maintenance fees there is unlikely to be a credit hit for stopping payments. If you still have a loan on the initial purchase that may be a different story- particularly if the loan is through a US Lender, then they will likely report the delinquency to the credit bureaus.

 

[TUGBrian]

http://www.tug2.net/timeshare_advice/timeshare_abandonment.html

 

[Passepartout]

You have other problems in your life than just a timeshare. Abandon it. Stop paying. They'll get the message and cancel this 'membership'. Prepare for them to make some noises about ruining your credit and so forth, but since there is no deed to give back, it's unlikely that any potential creditor looking over your credit report would consider a default of a Mexican timeshare anything but a good thing. It frees up your money (and credit) for other, more useful needs.

 

[rbkraft]

Mexican Vacation Clubs are RTU not deeded ownership- you can likely just stop paying them and they will terminate your membership eventually. Assuming the initial purchase is paid off and its just yearly maintenance fees there is unlikely to be a credit hit for stopping payments. If you still have a loan on the initial purchase that may be a different story- particularly if the loan is through a US Lender, then they will likely report the delinquency to the credit bureaus.

Thanks very much

 

[rbkraft]

You have other problems in your life than just a timeshare. Abandon it. Stop paying. They'll get the message and cancel this 'membership'. Prepare for them to make some noises about ruining your credit and so forth, but since there is no deed to give back, it's unlikely that any potential creditor looking over your credit report would consider a default of a Mexican timeshare anything but a good thing. It frees up your money (and credit) for other, more useful needs.

thanks very much-This really helps
rick

 

[Passepartout]

thanks very much-This really helps
rick

You're welcome. Keep us informed. We'd REALLY like to know if Mexican resorts actually DO try to use the legal system to collect. We strongly suspect they do not, because nobody who defaults ever comes back and tells us. This leads us to believe that ultimately, they write it off, cancel the membership and go find another tourist to sell the week to.

 

[Antunalu]

You're welcome. Keep us informed. We'd REALLY like to know if Mexican resorts actually DO try to use the legal system to collect. We strongly suspect they do not, because nobody who defaults ever comes back and tells us. This leads us to believe that ultimately, they write it off, cancel the membership and go find another tourist to sell the week to.

I got scammed into purchasing a timeshare in Krystal (said it would be an investment)in 2010. I had Profeco go to 5 hearings for me with no luck and mainly because I didn't rescind within 5 days. I did end up paying it off but never sent them another dime. Never paid a maintenance fee. I got one bill in 2012 and put it right in the trash. Haven't heard from them since.

 

[LannyPC]

I got one bill in 2012 and put it right in the trash. Haven't heard from them since.

Who is "them"? Does that include any collection agencies or the like?

 

[mosebun2131]

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[rbkraft]

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