help getting out of Holiday Inn

[DK729]

I am new to TUG and desperately need advice. I have had 2 Holiday Inn timeshares since 2010/2011( 1 odd year points and 1 even year points) I have upgraded a few times taking me to still odd and even years with a total of around 250k points. In August i stupidly did an "owner update" at the Desert Club with someone who claimed they were not a salesperson and wasn't going to try to get me to buy anything and even took me away from the "sales room". 4 hours later I find myself stupidly agreeing to upgrade to 2 signature ownerships of 500k points.......it wasn't until a couple weeks later that i noticed they are EVERY YEAR, so now I have 2 mortgages, 2 maintenance fees, and 500K points every year. I am trying to get out and want out of Holiday Inn completely.
I met with an exit company (Leavetimeshare) last week and was told for 27K they could get me out (25% of the total of the mortgages) that if anything hit my credit their credit protection company would disputes the dings. Next i spoke with Wesley Financial who informed me that since I live in NC they could not help due to a law here and promptly got off the phone with me......this then lead me talking to Leavetimeshare again and telling them what WF told me and they claimed to have never heard of that and would research it on their end.....I stopped answering their calls.
Last night i attended a presentation by Tradebloc who lead me to believe that they were attorneys and not a exit company and for a total of $8550.00 they could get me out along with a pile of other people that their attorney would present to a judge to force the timeshare company to forgive the mortgages and take a quitclaim deed (which they kept calling a quit deed claim) to remove me from the ownerships. They stated my credit would not be affected at all and that i should immediately stop my autodraft and make no more payments and to transfer any points i currently have over to IHG or RCI to keep them. In researching the attorney they kept referencing Adam Wax, he seems to only be licensed in Nevada and i am almost positive they would be filing in Florida....last i knew the attorney had to be licensed in the state they were filing in....? I read through the paperwork again and in there list of client responsibilities it states that i would have to contact them if i stopped making payments...??? I researched with the BBB and get mixed reviews as to if they actually do anything and the reviews they have on their website seem a little off because in strolling through there are a couple of different people's reviews that have the exact same wording.
Is there anyone i can trust to help me get out. Selling would help as i seriously doubt i could get what i owe on them. I can't give them back because I have the mortgages.
If i knew exactly what would happen if i just stopped paying i would just do that. I know my credit will take a hit BUT would there be liens put against me in NC or just on the properties in FL, TX and SC? I am also getting mixed answers as to if they would show as a foreclosure on my credit.

sorry for the long post but i need help!!!
DK729

 

[vacationtime1]

Last night i attended a presentation by Tradebloc who lead me to believe that they were attorneys and not a exit company and for a total of $8550.00 they could get me out along with a pile of other people that their attorney would present to a judge to force the timeshare company to forgive the mortgages and take a quitclaim deed (which they kept calling a quit deed claim) to remove me from the ownerships.

Anyone who asks for an upfront fee is a scam (exception: an advertising fee of <$100). Run away from these con artists.

These people are NOT lawyers. You already know that because they call a quitclaim deed a "quit deed claim".

 

[easyrider]

I am also getting mixed answers as to if they would show as a foreclosure on my credit.

It can. Before showing up as a foreclosure it will show up as a delinquent account on a credit report if it is turned in. Even if a resort doesn't turn in the delinquency, a foreclosure is public record and could be picked up by credit reporting agencies.

For this to go through a foreclosure process it would need to be a deed backed timeshare and not a vacation club membership. Holiday Inn Vacation Club is a membership so they wouldn't have to go through a foreclosure process to take their membership back which means it's not going to show up as a foreclosure but instead it shows up as a default which is probably just as bad.

None of the exit companies are going to help much in anything other than taking your money. In the end, because you stopped paying, which is what the exit companies often recommend because it starts the exit process, the debt can show up as both delinquent and default with default being very derogatory.

Bill

 

[TUGBrian]

How to get rid of your unwanted Holiday Inn Club Vacations timeshare points

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