Help! Need to get out of Villa del palmar Cancun Timeshare

[jojounge]

I bought a timeshare 2/22/2018 I have never used it. When I purchased I actually bought someone else’s that could no longer afford to make payments and the villa del palmar assures me if I was ever unable to pay they would buy it back and sell it to someone else. They will not do this and have told me I have to pay everything off in order for them to take it back which is not an option. I just can’t afford to pay any longer.

if when we signed it and dated it we put the wrong date on the contract can it be null and void?

What can I do?
What will they do if I just stop making payments?
I signed with someone, we are not married, we live together.

I paid for some site to list it and it has never even gotten a hit on someone wanting to buy it.

If interested in taking this over for me I have floating season, unit, any week, one weekbiennially even, junior suite, 1200 ptsinterval platinum pgrade/membership combo.

 

[Passepartout]

Stop paying. They'll cancel your membership. You don't actually OWN anything. They can send ugly letters and make general pests of themselves, but really, they have no recourse. You will never get back what you've paid, but you can stop the bleeding. And, of course by now you have found that those 'get you out of your timeshare' outfits are just a scam designed to get more of your money.

They can't ruin your credit. If they are automatically debiting a bank account or credit card, cancel the card or close that account and reopen another one.

Best wishes.

Jim

 

[jojounge]

Awesome! Thank you for your reply I was actually hoping to hear from you from reading your posts. I stopped paying but it was on an autopay. I changed my card number with my company but am hoping this is all I have to do.

 

[dioxide45]

The problem with having a loan against something with $0 value means it simply can't be sold. Though I am not sure if you owe money on it (as in a loan or mortgage) or are simply just referring to the ongoing maintenance fees?

For a loan, there may be more recourse on their part than if you are just referring to the ongoing maintenance fees. If all you owe is ongoing fees, then Jim's advice works. If you have a loan, they probably are established in the United States in some way in order to lend and could send it to collection.

 

[Eric B]

Awesome! Thank you for your reply I was actually hoping to hear from you from reading your posts. I stopped paying but it was on an autopay. I changed my card number with my company but am hoping this is all I have to do.

You may also want to notify the company that autopays from them are not authorized. I've had a few autopays for other expenses follow me through credit card number changes, but they were ones I intended to keep paying.

 

[jojounge]

A loan with villa del palmar or villa group for the timeshare. It’s all part of the opening contract but I have never used the service provided once.
I was saying I didn’t want to take out a personal loan to pay off the whole thing at once to get rid of it like resortcom/villa group is telling me I have to. That doesn’t help me because I can’t afford to pay the way it is now.

 

[easyrider]

A loan with villa del palmar or villa group for the timeshare. It’s all part of the opening contract but I have never used the service provided once.
I was saying I didn’t want to take out a personal loan to pay off the whole thing at once to get rid of it like resortcom/villa group is telling me I have to. That doesn’t help me because I can’t afford to pay the way it is now.

If you take out a loan in the USA to pay this you will have problems when you don't pay. Because your loan is a Mexican line of credit the resort has the problem when you don't pay.

If you can't pay it then don't pay it. Most of the time the scenario is I can pay it but I don't want to pay it which I guess is not a bad strategy if you can pull it off. Because it is a Mexican line of credit with very little value, the collection effort for the resort is very high and reward is hardly worth it.

Let us know how it goes.

Bill

 

[Mitchd43]

Any update on this?

I stopped paying, but now they are threatening to send my account to collections.

I can not pay. I stopped paying maintenance fees and the loan. I have never used this and never will. I became paralyzed and dont have money to throw away for a beach resort I cant use.

 

[Passepartout]

Any update on this?

I stopped paying, but now they are threatening to send my account to collections.

I can not pay. I stopped paying maintenance fees and the loan. I have never used this and never will. I became paralyzed and dont have money to throw away for a beach resort I cant use.

I am sorry for your situation. You have more challenges than a timeshare default. It becomes more difficult if you stopped paying a loan than if it was simply the annual fees. I think you (or an attorney on your behalf) should write the entity threatening collection, explaining your status and that you are likely 'judgement proof'. If you have no money, they simply are spitting into the wind.

Best wishes to you.