Help! How can we get out of our timeshare?

[Donieraye]

We've owned HGV timeshares since 2010. Recently ran into financial hardship and can no longer make the required payments. I believe we got taken advantage of this last go around. We still owe on the loan. What are our options? Many many emails and phone calls to Hilton but no help.

Btw, if you own at Ocean Towers on the Big Island, what did you pay roughly? Looking for a price range.

 

[TUGBrian]

Welcome to TUG!

Unfortunately you have no good options (and a few bad ones) because you have an outstanding loan balance as you are not able to sell, give away or give back your timeshare until that loan is satisfied

 

[geist1223]

DO NOT talk to any of those so called relief companies that claim they can get you out of your Timeshare. They are all frauds.

 

[davidvel]

DO NOT talk to any of those so called relief companies that claim they can get you out of your Timeshare. They are all frauds.

@Donieraye read the above post about a dozen times before you do anything else. NO ONE can "get you out of your timeshare," except you. Sadly the only way out (other than paying off loan) is to stop paying and wait for them to foreclose and the hit on your credit report.

 

[Donieraye]

I was afraid of that. I worked so hard to get excellent credit too. I don't want to do that. I've got to figure something out. I think the salesperson in Vegas doubled the price of the timeshare we bought in Ocean Towers. That's why I'm wondering about the price range owners paid. That could be an arguing point for me.

 

[kanerf]

You cannot get out of your contract unless you default and take the credit hit. You should consider getting the loan refinanced. If you can pay it off you do have a chance of selling the property and at least get out of paying MFs.

 

[dioxide45]

HGVC doesn't usually negotiate on price and has set price sheets. The purchase price is what the price is. I don't see them playing games of padding the purchase price by doubling it.

 

[alwysonvac]

We've owned HGV timeshares since 2010. Recently ran into financial hardship and can no longer make the required payments. I believe we got taken advantage of this last go around. We still owe on the loan. What are our options? Many many emails and phone calls to Hilton but no help.

Btw, if you own at Ocean Towers on the Big Island, what did you pay roughly? Looking for a price range.

If you haven't, reach out to HGVC Portfolio Services (see link and contact information below).
But if things are truly tight financially then it is probably best to default and take the credit hit for 7 years (instead of struggling to payoff a luxury item you can't afford).
Other things are more important such as covering costs associated with housing, food, medical, transportation, childcare, etc.


The following is from https://club.hiltongrandvacations.com/en/member-solutions

 

[brp]

I think the salesperson in Vegas doubled the price of the timeshare we bought in Ocean Towers. That's why I'm wondering about the price range owners paid. That could be an arguing point for me.

Unless you're saying that they changed the price after you signed documents, I don't think that what others paid will be relevant here, unfortunately.

Cheers.

 

[Snazzylass]

I was afraid of that. I worked so hard to get excellent credit too. I don't want to do that. I've got to figure something out. I think the salesperson in Vegas doubled the price of the timeshare we bought in Ocean Towers. That's why I'm wondering about the price range owners paid. That could be an arguing point for me.

Your contract is your contract. Every above post is completely accurate. There are horror stories everywhere including YouTube where consumers were possibly taken advantage of regarding their timeshare contract. Google and search but you basically have 3 options:

1. Continue to pay and stick around to see how you can use your T/S.

2. Stop paying and allow the T/S to foreclose. If you truly have some sort of financial hardship currently, it's unlikely that you would be obtaining a new mortgage, etc, right? If you are planning to refi, do that first. A foreclosure on your credit report could prevent you from obtaining a new mortgage.

3. Throw away more money to a scam artist company which is promising to get you out of your contract. Again, google and search because I've only ever heard of people paying thousands of dollars and still having their T/S and the liability.