Help leaving Vidanta.

[soshau01]

The wife and I bought into Vidanta a few years back. Liked the place and how well we were taken care off.
We both weren't keen on the sales pitch, we seems to be a common theme here.

Due to Covid, we can't afford the payments anymore. I have read a lot about walking away on the maintenance fee's but what about the contract?
Not something I want to do, but we own another out right, so no reason to fight for something I can't afford or use.

From what I can gather, we will be getting a lot of emails, phone calls, all the usual bill collector stuff, but it doesn't have much teeth since they are based and run out of Mexico.

Any advise would helpful.

Thanks in advance,
newbie
Scott

 

[Passepartout]

Walking away from the annual MF is basically a no sweat deal. But as you surmise, it's likely that the loan for the purchase may well be through a U.S. based financing arm. Though there is no underlying surety property on the loan, there is a good chance that if they want to pursue payment, you might be held liable. Read the loan documents carefully, and go over them with a trusted legal representative in your locale.

Good Luck!

Jim

 

[soshau01]

Walking away from the annual MF is basically a no sweat deal. But as you surmise, it's likely that the loan for the purchase may well be through a U.S. based financing arm. Though there is no underlying surety property on the loan, there is a good chance that if they want to pursue payment, you might be held liable. Read the loan documents carefully, and go over them with a trusted legal representative in your locale.

Good Luck!

Jim

Thanks Jim I will

 

[pittle]

What do you own and when did you buy? I have older copies of Sea Garden, Mayan Palace, Grand Mayan & Grand Luxxe in my "Timeshare Book" & computer files. I can check those and let you know what my contracts said. I can also let you know how much the transfer fees are for your contract so that you might be able to get someone to take it over for those costs. I would send this info via Private Conversation once I know what you have.

I think the ones with the "No Pay unless You Go" feature, you have to wait until the 5 yeas MF or 10 year renewal to let it lapse by not paying. Some of the older contracts where MF are mandatory each year have a statement that if you do not pay for 2 years, it is cancelled. Look at your contract.