Exit contract please

[brebre]

Hi everyone,
I am an owner of a westgate resorts timeshare and I'd like to get out of the contract. I signed up in July 2024 I'm 3 months behind on the mortgage and 6 months behind on the HOA fees. I really can not afford the timeshare any longer but the company isn't offering me any options to get out. The missed payments are ruining my credit and I'm concerned Westgate may try to sue me. Does anyone have any suggestions to help me get out the timeshare please

 

[callwill]

Hi everyone,
I am an owner of a westgate resorts timeshare and I'd like to get out of the contract. I signed up in July 2024 I'm 3 months behind on the mortgage and 6 months behind on the HOA fees. I really can not afford the timeshare any longer but the company isn't offering me any options to get out. The missed payments are ruining my credit and I'm concerned Westgate may try to sue me. Does anyone have any suggestions to help me get out the timeshare please

Since you still owe on the mortgage, you are likely going to have to suffer thru the foreclosure process and take the credit hit.

 

[jp10558]

Sadly, as callwill said - you have to take the credit hit.

 

[Passepartout]

Hi everyone,
I am an owner of a westgate resorts timeshare and I'd like to get out of the contract.

@brebre the sad truth is there is no easy way out. If you just signed up in July and only 6 months have passed. You probably should have rescinded within the allowed timeframe when it was as simple as writing a letter. Now, there will be consequences. Stay as far away as possible from those 'timeshare exit' companies. They will just take more of your money and advise you to just stop paying and take the consequences.

Yes, your credit will take a hit. You might get sued, but this will pass. Most timeshares don't have enough value for them to put legal assets into filing suit, so, in the end, they'll just (eventually) foreclose and take back the timeshare interval to sell to some other unsuspecting person unlucky enough to get involved with them.

Prepare for letters and phone calls with thinly veiled threats. You can write them and demand that ALL correspondence be via US Mail to at least stop the phone calls.

I suspect that this timeshare is not your only debt, so you may consider scheduling a visit with an attorney in your area who is versed in Consumer Debt issues.

We wish you well. Good Luck,

Jim

 

[TheTimeTraveler]

Hi everyone,
I am an owner of a westgate resorts timeshare and I'd like to get out of the contract. I signed up in July 2024 I'm 3 months behind on the mortgage and 6 months behind on the HOA fees. I really can not afford the timeshare any longer but the company isn't offering me any options to get out. The missed payments are ruining my credit and I'm concerned Westgate may try to sue me. Does anyone have any suggestions to help me get out the timeshare please

Westgate weeks are worth nothing on the resale market and they're worth even less when there's an outstanding mortgage attached to it.

As @Passepartout correctly pointed out there are exit companies but if anyone asks for upfront money to take it off your hands then you know it's an absolute scam as they'll steal your money and you'll never hear from them again. Who wants a useless weeks at Wastegate ?

Best of luck!










.