El Cid Vacation clubs

[krs1055]

Long story short..... Went to Cancun, got hooked into a timeshare presentatel ion, they fed us copious amounts of margaritas.. purchased a membership to their vacation club.

1. $4000 cash down
2. $524 a month for over a year now
3. + maintenance fees

Went back once for our complimentary trip and seen the writing on the walls with lie after lie . If i was to keep paying this out for 20 years, it would cost over $65k for a vacation we can take cheaper off expedia. I am fixing to pull the plug on them but wanted to bounce ideas off some of you.
There is no deed , just a payment every month for points. So if I quit paying them, I see nothing they could come after me for, just cancel the membership ..right?
There is no record on my credit report for any of this, never gave them any SSN, just drunk signed a contract, to pay for vacation usage.

 

[geist1223]

Just stop paying and ignore any calls, emails, or snail mails. Paid Money down the drain.

 

[krs1055]

Just stop paying and ignore any calls, emails, or snail mails. Paid Money down the drain.

 

[krs1055]

totally agree, bad investment, lost my tail!! Just hoping to get insight on any ramifications of cutting ties on this

 

[krs1055]

Just stop paying and ignore any calls, emails, or snail mails. Paid Money down the drain.

totally agree, bad investment, lost my tail!! Just hoping to get insight on any ramifications of cutting ties on this

 

[WorldT]

No ramifications. Just stop paying. Put a block so they cannot charge your account again.
THE END.

They may call, threaten and all of that. Just ignore them.

 

[C. Evans]

Long story short..... Went to Cancun, got hooked into a timeshare presentatel ion, they fed us copious amounts of margaritas.. purchased a membership to their vacation club.

1. $4000 cash down
2. $524 a month for over a year now
3. + maintenance fees

Went back once for our complimentary trip and seen the writing on the walls with lie after lie . If i was to keep paying this out for 20 years, it would cost over $65k for a vacation we can take cheaper off expedia. I am fixing to pull the plug on them but wanted to bounce ideas off some of you.
There is no deed , just a payment every month for points. So if I quit paying them, I see nothing they could come after me for, just cancel the membership ..right?
There is no record on my credit report for any of this, never gave them any SSN, just drunk signed a contract, to pay for vacation usage.

Was there any update on this? I've been curious if their policies have changed. Ours is fully paid and I would love to simply stop paying the maintenance fee, but I tried that a few years ago and it became a credit collections issue + the knowledge that the collection account may be a permanent lifetime condition (new charges every year, re-setting the 7 year clock back to 0).

 

[easyrider]

totally agree, bad investment, lost my tail!! Just hoping to get insight on any ramifications of cutting ties on this

If the payment is to an American line of credit like Wyndham or Barclay the credit issued can go after you. If it's a Mexican line of credit you are probably good to walk away with little to no consequence.

Bill

 

[C. Evans]

If the payment is to an American line of credit like Wyndham or Barclay the credit issued can go after you. If it's a Mexican line of credit you are probably good to walk away with little to no consequence.

Bill

I know that El Cid works with an american company, Monterrey Financial, to create collection accounts for MFs alone (not even a loan, just the annual fees of a fully paid member trying to flee), so my best guess is that they'll come after this owner unless they've mercifully changed their policies. That would be so nice! Hopefully we'll get an update.

 

[krs1055]

I know that El Cid works with an american company, Monterrey Financial, to create collection accounts for MFs alone (not even a loan, just the annual fees of a fully paid member trying to flee), so my best guess is that they'll come after this owner unless they've mercifully changed their policies. That would be so nice! Hopefully we'll get an update.

after 9 months of no pay, Monterrey Financial did put a hit on my credit for $2500 , 33 point drop on credit score

 

[easyrider]

after 9 months of no pay, Monterrey Financial did put a hit on my credit for $2500 , 33 point drop on credit score

They must have your Social Security number and it's an American line of credit ?

Bill

 

[WorldT]

after 9 months of no pay, Monterrey Financial did put a hit on my credit for $2500 , 33 point drop on credit score

You may consider contesting the report.
False advertising, failure to deliver advertised product.

 

[deFraudlk]

after 9 months of no pay, Monterrey Financial did put a hit on my credit for $2500 , 33 point drop on credit score

What does the $2500 hit mean? Is that the amount you owed them for MF's? I understand the point hit on credit score. I have quit making poayments and they grabbed my CR Card number and submitted it to Barclays. I claimed Fraud as they had no authority to use that cr Cd for maint fees. The card previously authorized was in 22 and prior, and they changed their system and lost the info for that card. So I used a diff card and their was no written auth for auto pay. It took me two months of back and forth with Barclay as they never listened to my complaint - they kept settling my claim - at least 4-5 diff disputes - before they finally agreed that it was fraud. They kept saying that since I paid them previously it was a dispute and not fraud. It was a nightmare, and they finally reviewed what I sent to support my claim and took the hit for the charge. Plus, they have no staff that speak english as their native language and everyone you speak with has a heavy accent and reads a script to you. I believe El Cid thinks they got paid by me but not. Currently they are billing me weekly cause I am not paying. I am sure they will try to use my card again but I have closed my cards with Barclay. I'm sure once they try it again and find out the card is no longer valid, they'll report me to a collection. I have sent letters to them and made phone calls and they refuse to let me out of the contract - mbrshp pd in 2013, maint fee time frame exp 2032. We are in our 70's and don't travel and last usage Nov 2019 and can't afford this financial burden. So I stopped paying in Dec 2024. Additionally they are linked to several scammers who contact you and claim they can get you out - they got $1800 of ours before we were informed they were scammers. Currently I am still getting emails from the scammers and new scammers regarding offers that are not legit.

 

[deFraudlk]

What does the $2500 hit mean? Is that the amount you owed them for MF's? I understand the point hit on credit score. I have quit making poayments and they grabbed my CR Card number and submitted it to Barclays. I claimed Fraud as they had no authority to use that cr Cd for maint fees. The card previously authorized was in 22 and prior, and they changed their system and lost the info for that card. So I used a diff card and their was no written auth for auto pay. It took me two months of back and forth with Barclay as they never listened to my complaint - they kept settling my claim - at least 4-5 diff disputes - before they finally agreed that it was fraud. They kept saying that since I paid them previously it was a dispute and not fraud. It was a nightmare, and they finally reviewed what I sent to support my claim and took the hit for the charge. Plus, they have no staff that speak english as their native language and everyone you speak with has a heavy accent and reads a script to you. I believe El Cid thinks they got paid by me but not. Currently they are billing me weekly cause I am not paying. I am sure they will try to use my card again but I have closed my cards with Barclay. I'm sure once they try it again and find out the card is no longer valid, they'll report me to a collection. I have sent letters to them and made phone calls and they refuse to let me out of the contract - mbrshp pd in 2013, maint fee time frame exp 2032. We are in our 70's and don't travel and last usage Nov 2019 and can't afford this financial burden. So I stopped paying in Dec 2024. Additionally they are linked to several scammers who contact you and claim they can get you out - they got $1800 of ours before we were informed they were scammers. Currently I am still getting emails from the scammers and new scammers regarding offers that are not legit. UPDATE: After months of letters to them they replied with the same old spiel yesterday - I'm behind, I owe then 7 years plus of maint fees (approc 17K+) and can terminate my contract if I want to pay them those maint fees. NEW UPDATE today - they have sent a letter from the collections department of El Cid stating we are more than 60 days overdue.