Getting out of a Tafer membership

[Mattb94]

In April of 2024 my wife and I bought a membership with tafer in Puerta Vallarta. We payed on it for several months before our financial situation changed, I contacted them several times looking to get out but was told there is nothing they could do until it was payed in full. I explained our situation had changed and needed out, I wasn’t wanting a refund just a clean break. I looked online and saw that if the loan was issued through a Mexican institute it couldn’t impact our credit in the states so I quit paying. It has now been sold to Monterey Financial and has hit both of our credit reports. I’m trying to find what my options are and if there is any way to remove the credit hits from our accounts. It was close to 100 points our credit dropped. Is my only way out of this to finish paying the $9,000 roughly owed?

 

[easyrider]

In April of 2024 my wife and I bought a membership with tafer in Puerta Vallarta. We payed on it for several months before our financial situation changed, I contacted them several times looking to get out but was told there is nothing they could do until it was payed in full. I explained our situation had changed and needed out, I wasn’t wanting a refund just a clean break. I looked online and saw that if the loan was issued through a Mexican institute it couldn’t impact our credit in the states so I quit paying. It has now been sold to Monterey Financial and has hit both of our credit reports. I’m trying to find what my options are and if there is any way to remove the credit hits from our accounts. It was close to 100 points our credit dropped. Is my only way out of this to finish paying the $9,000 roughly owed?

Many of the big Mexican Resorts use an American loan processor and/or a US based financing Trust which gives them the ability to chase defaults in America. Tafer is one of the largest hospitality groups in Mexico. You would need to look at your contract but I think you must have agreed to the terms of the loan or they wouldn't be after you.

Walking away from this Mexican timeshare is pretty much the same as walking away from a timeshare debt originated in the USA. Credit hit, collection efforts and loss of membership use are the usual happenings with this type of default. The 100 point credit score drop is about as bad as it gets and it looks like you are there.

Bill

 

[Mattb94]

Well I’m glad I’m already at the bottom lol the paper work we signed lists “Constructora Villa Del Palmar Cancun sociedad anonima de capital variable” as the payee and then listed a full Mexican address so I was confused. I didn’t know if it showed up because an American collection agency bought it or what

 

[easyrider]

Well I’m glad I’m already at the bottom lol the paper work we signed lists “Constructora Villa Del Palmar Cancun sociedad anonima de capital variable” as the payee and then listed a full Mexican address so I was confused. I didn’t know if it showed up because an American collection agency bought it or what

Where did you pay your loan payment and maintenance fee to ? I thought Tafer used Resortcom for loan services. Did Monterey Financial contact you about your debt ? They might have just bought your debt from Tafer.

Bill

 

[Mrfrogger]

If you have credit monitoring or access to experian, you can dispute the claim and just say you dont know what it is nor do you authorize it and they can dump it off the report.. takes like 7-10 days. eventually it will pop up again and just do same thing dispute it. there are a few verbiages you can use to have them take it off but simply disputing and stating you dont know wtf it is generally will have them take it off.