Friend had stroke and has $11,500 due to Diamond Resorts annual fees on Jan 15 2025

[OhioJP]

A family friend had stroke and has $11,500 due to Diamond Resorts annual maintenance fees on Jan 15 2025
Can she contact them and get this delayed?
Her and her husband's name are on it. He passed in 2020, but she never removed his name.
She is currently hospitalized.
I am trying to advise her on how to handle this. Right now she is not concerned about it hurting her credit, as she obviously is focused on her health.
She will most likely be moved from a hospital to assisted living for the remainder of her life.
Is it worth anything to sell?

 

[VacationForever]

Diamond Resorts have no resale value (=$0). In order to sell, MF would need to be brought up to date. Paying off $11.5K to get $0 does not make financial sense. Just stop paying the MF.

 

[OhioJP]

Thank you! What are the repercussions of not paying? Just a ding to credit score?

 

[VacationForever]

Thank you! What are the repercussions of not paying? Just a ding to credit score?

Debt collectors will call but it will take a year or two before they start calling. Yep, ding to credit score.

 

[dioxide45]

For MF payments only, chances of a credit report ding are fairly low, though not impossible. At this point her health is more important than these fees for a timeshare she likely won't use. Conserve the cash for where it is needed most.

 

[OhioJP]

Thank you. Is it worth contacting Diamond and explaining situation?

 

[GrayFal]

Thank you. Is it worth contacting Diamond and explaining situation?

No
They just want their money

 

[CalGalTraveler]

Are these deeds? or trust points (aka The Club). Could not hurt to call to see if they will take a deedback especially if a deed because deed would be more complicated to unravel. But be prepared to walk if they want money or lie to you.

If deeds you might want to post on the TUG free Timeshare Giveaway board in case someone wants them and is willing to pay the 2025 MF and transfer fees.

If they are deeds are they held in a revocable living trust? You want to know how these are titled in case she passes before the 2 years pass.

Whatever you do, do not put them in anyone else's name e.g. children or they will be liable for this. The heirs can reject that part of their inheritance and the property would remain with the estate.

 

[chriskre]

She should just let it go.
They cannot get anything from her with a legal letter from her retirement or Social Security income for a TS debt.
Seniors have protected income under the law, they just don't know it for the most part.
Here's a video about it.
Any lawyer can send a letter in her defense and make the harassing calls stop.