Help/Advice on cancelling Diamond timeshare (w/ mortgage)

[s0nginmyheart]

Hello all. New member here looking for advice/help.

Long story short - my husband and I got suckered into buying a Diamond Sampler in January 2018 (Hawaii). We converted to ownership while in Cabo, and have overall been unhappy with all of the lies we were fed on our sampler and ownership presentations, customer service, etc.

We would like to move forward on cancelling this timeshare (still paying a mortgage on it). I've seen some ads on companies that will do this, but am the skeptical one. I've only spoken to 1 in detail so far:

Resort Release -
Saw ad on social media - Basically wants $5700 (can be broken out into 4 payments), 100% guarantee... but I figure they will take our money and we'll never get out of contract. Regardless of their guarantee, I know that if they close up shop there's no way to get our money back. I'm not keen on moving forward with them.

Timeshare Compliance
Saw they were recommended from a website, but I do not know the validity of it. We need to schedule a call to discuss our situation with them, but liked the fact that we can pay through an escrow account and our money is safer that way. I don't know how much it will cost yet to move forward and cancel. Both of these companies say they are "selective" about the cases they take on for their attorneys, however just sounds like a sale pitch to me to "act now".

Has ANYONE successfully worked with a company to cancel their relatively new timeshare (that still has a mortgage)? We would LOVE your feedback/suggestions and this whole situation has been a major pain. Hoping someone can steer us in the right direction.

 

[truckinusa]

Hello all. New member here looking for advice/help.

Long story short - my husband and I got suckered into buying a Diamond Sampler in January 2018 (Hawaii). We converted to ownership while in Cabo, and have overall been unhappy with all of the lies we were fed on our sampler and ownership presentations, customer service, etc.

We would like to move forward on cancelling this timeshare (still paying a mortgage on it). I've seen some ads on companies that will do this, but am the skeptical one. I've only spoken to 1 in detail so far:

Resort Release -
Saw ad on social media - Basically wants $5700 (can be broken out into 4 payments), 100% guarantee... but I figure they will take our money and we'll never get out of contract. Regardless of their guarantee, I know that if they close up shop there's no way to get our money back. I'm not keen on moving forward with them.

Timeshare Compliance
Saw they were recommended from a website, but I do not know the validity of it. We need to schedule a call to discuss our situation with them, but liked the fact that we can pay through an escrow account and our money is safer that way. I don't know how much it will cost yet to move forward and cancel. Both of these companies say they are "selective" about the cases they take on for their attorneys, however just sounds like a sale pitch to me to "act now".

Has ANYONE successfully worked with a company to cancel their relatively new timeshare (that still has a mortgage)? We would LOVE your feedback/suggestions and this whole situation has been a major pain. Hoping someone can steer us in the right direction.

You can look at what any timeshare is selling for on Ebay and compare prices. Most of these cancellation companies just ebay the timeshares and slap you with a $2,000 cancellation fee. Nothing you can't do yourself. I am not sure about the legal route. If there was some sort of deception or fraud involved I am not sure what attorney deals with timeshares.

 

[bnoble]

We would like to move forward on cancelling this timeshare (still paying a mortgage on it). I've seen some ads on companies that will do this, but am the skeptical one

There is no magic wand that will do this. You have signed a valid contract to purchase this, and in general no company can promise to undo that. What they do differs a little bit from company to company, but in general it (a) costs a lot of money and (b) doesn't accomplish anything. Many of these organizations operate under the principle that you bought the timeshare by believing things that weren't quite true, and you'll give them more money for the same reason.

I don't know the precise rules for Mexico, so I will let someone else chime in on the details. But, assuming you are past your rescind window, you have to decide if this is something you just don't really want, or if it is something you genuinely can't afford. If the former, my advice: learn to make the most of it. Many here bought from a timeshare developer, initially regretted it, but came to appreciate it later.

 

[geist1223]

I am not giving Legal Advice. I am assuming that you are past the couple days for rescinding the Contract. There really is no legal way to get out of the Contract. So you basically have two options:
1. Buckle down and learn the system so that you can use it for your enjoyment.
2. Stop all payments and walk away. If your payments go to a Credit Card each month cancel that Credit Card. If the payments are deducted directly from a Bank Account contact your Bank and stop them. Diamond is Headquartered in the USA. This means they could come after you. They could turn over the matter over to a Collection Agency. Most likely they will report the unpaid debt to the Credit Reporting Agencies and you could take a hit on your Credit Report.

No matter what stay away from the Companies that say they can get you out from under this Contract. They will collect several thousand dollars from you. In the end they will accomplish nothing. You will stay be legally bound under the Contract and out several thousand dollars.

 

[bogey21]

Prior post is right on...

George

 

[s0nginmyheart]

Thanks. We were definitely led to believe many things during the presentations which we are finding to be not true. The kicker is that we converted our sampler to ownership in October 2018 (and have been paying since) but cannot even use our points until 2020... this is one of the things that is upsetting...

Just trying to see if anyone has successfully canceled their contract (out of rescind period, and still paying a mortgage)... whether it was with a 3rd party company, or another avenue... as we are definitely looking for some guidance.

 

[TheTimeTraveler]

Thanks. We were definitely led to believe many things during the presentations which we are finding to be not true. The kicker is that we converted our sampler to ownership in October 2018 (and have been paying since) but cannot even use our points until 2020... this is one of the things that is upsetting...

Just trying to see if anyone has successfully canceled their contract (out of rescind period, and still paying a mortgage)... whether it was with a 3rd party company, or another avenue... as we are definitely looking for some guidance.

It's highly unlikely that you will be able to rescind at this point, so the best advice is to make the best use of it.

You won't be able to unload it if there is any debt on it so either pay it off and sell it (likely give it away), or simply just walk away (also easier said than done).




.

 

[moonstone]

If you are on Facebook, also check out the Diamond Resorts Owners Advocacy page (a closed group, you need to join). There is a lot of information in the 'files' section as well as in all the posts. Many others are in the same boat as you.

~Diane

 

[geist1223]

Thanks. We were definitely led to believe many things during the presentations which we are finding to be not true. The kicker is that we converted our sampler to ownership in October 2018 (and have been paying since) but cannot even use our points until 2020... this is one of the things that is upsetting...

Just trying to see if anyone has successfully canceled their contract (out of rescind period, and still paying a mortgage)... whether it was with a 3rd party company, or another avenue... as we are definitely looking for some guidance.

I do not understand the 2020 date. Why is there this delay? If you converted your Sampler to full regular membership in October 2018 you should have been able to use your Points/ Account by at the latest January 2019. But it depends on what is in your Contract. Several years ago we joined in a February. By April I was Booking a 2 week trip to France for October that same year. Now last August we upgraded but the Points did not hit our Account until Janaury 1, 2019. So while we were making payments we were not being assessed Maintenance Fees until January 1, 2019 on the new Points.

Have you signed onto your Online Diamond Account? Have you called Diamond to talk.

Hopefully they explained about rolling over your Points so that you can save up for a big trip. This means you can roll over your 2019 Points to 2020. They are still available for use in 2019 but in case you don't use them in 2019 they are not wasted.

What is your Home Collection. In your Home Collection you have a 13 month Booking Window. For Diamond Resorts in other Collections you have a 10 month Booking Window.