Getting out of timeshare

[Jlj2013]

We have a holiday inn club vacation. We went to 2 presentations and ultimately bought it. We’ve had it for almost a year and every time we’ve tried to use it they tell us that resort is unavailable for our travel dates and when I pick new dates those are also unavailable. Overall we are unhappy and feel that it is not worth the money that we pay monthly. Needless to say we still owe on the loan but would like to get out of it. Can they just take it back for a fee? We don’t have certain weeks that are ours just points to use where we would like. Or how big of a hit does it take to your credit? I checked our credit reports and this is not on the report. Will it effect it anyway?

 

[geist1223]

There are a few time share organization that have give back programs. But all of them require that the loan is fully paid. I do not know when your Booking Window opens but you should be trying to Book as soon as the Booking Window opens - either online or by telephone. Timeshares do not work for people that can not plan 12 to 13 months in Advance. As an example the Worldmark Booking Window opens at 13 months. Online at 6am Pacific Time. By telephone at 8am Pacific Time. So when I am Booking I am online a minute before 6am and I am ready to Book at 6am.

 

[TUGBrian]

holiday inn will indeed take back your timeshare if you pay off the loan.

if not you will be subject to default penalties and consequences for both the maint fees and the loan amount.

https://tug2.net/timeshare_advice/stop_paying_for_timeshare.html

 

[Tank]

Holiday Inn Vacation Club has a 10 month window to pick any of the resorts available. If you do this you can get most places. Some small resorts like Panama City Beach in the summer you won't.
If the kids are off school the 10 month window is a must.

Read your owners guide online , and know it like the back of your hand to best utilize our system.
Knowledge is power!

You know when your breaks are for the kids, schedule around it. This has forced our hand to commit and as a family we have many GREAT memories at our Holiday Inn timeshares. We always take out the point shield protection protecting our points. The best $35 you can spend.

 

[T-Dot-Traveller]

We have a holiday inn club vacation. .....We’ve had it for almost a year and every time we’ve tried to use it they tell us that resort is unavailable for our travel dates and when I pick new dates those are also unavailable. Overall we are unhappy ......?

Read what Tank posted -
You bought for a reason - to get better accomadations etc. while on vacation . If you can do that you will likely become a happier owner . Why give away something you paid for . It is better to figure out how to use it .

Timeshare bookingis not like Expedia etc . It does take advanced planning . It sounds like for $35
you can protect your points if something forces a cancelation.

TUG is timeshare Users Group - lots of members started like you and read this forum to help figure out how to use what they bought .

If you have more questions - keep posting .
and good luck.