Help on Villa Del Palmar

[LuckyTauro7]

We've been member of VDP for a couple of years now and we've had some great experiences, but with the economy in the US changing so much, everything is so expensive and having older parents that we now have to support, it's become very difficult to keep up with the payments. We are Elite members and maybe that's something we got carried away with.. but we're here now and would like to see if anyone had any similar situations or what options are possible? Has anyone tried to get out of VDP Timeshare? Also, is bankruptcy a way to get out of a timeshare?

Goal: Get out of Timeshare

 

[geist1223]

Very likely because this is a Timeshare in Mexico it is RTU not Deeded. Not guaranteed but likely you could simply stop paying. While they might harass you with telephone calls, emails, and Letters it will simply go away.

 

[T-Dot-Traveller]

Hi @LuckyTauro7
Welcome to TUG

Key Question
Do you still have a loan ?

 

[beach.bar.bob]

Call ResortCom and discuss with them

if your contract is fully paid then you can relinquish your membership by paying your most current year maintenance fee
if you have a loan then your situation is much more difficult
FWIW
bbb

 

[LuckyTauro7]

Hi @LuckyTauro7
Welcome to TUG

Key Question
Do you still have a loan ?

It’s financed

 

[byeloe]

It’s financed

the only way out of your current situation is to stop paying and ignore all collection attempts

 

[easyrider]

the only way out of your current situation is to stop paying and ignore all collection attempts

I agree 100%. If it is financed through a line of credit originating from the USA there will be some problems. If it financed through the developer not so much.

Bill

 

[Passepartout]

It’s financed

First, DO NOT sign up for ANY of those 'Get you out of your timeshare' outfits. They are ALL scams designed to separate you from more of your money.

Yes, bankruptcy CAN terminate the timeshare, but you REALLY need to be MUCH deeper in debt than just a timeshare to justify that. Speak to an attorney who's versed in consumer debt and BK.

You can consider simply stopping payments. You won't get to use the TS, but that's what you want anyway. You might (probably will) get some letters and might get phone calls from collectors. You can demand- in writing- that they only contact you by U.S. mail. Cancel any credit cards or bank accounts that they can debit.

They can drop a negative credit report on your credit score, but if you are already considering BK, you'll get those anyway. If you get a credit score ding, you are entitled to write a letter that accompanies any credit request. It's not uncommon for a lender to disregard a timeshare default, because you have more money to spend with them.

Good Luck,

Jim