- Joined
- Jul 4, 2005
- Messages
- 1,631
- Reaction score
- 105
- Points
- 423
- Location
- Raleigh NC
- Resorts Owned
- Joined TUG '96, Wyndham Grand Palms AKA, Presidential Villas at Plantation Resort, 3 bed lockout.
I, for one, hate it when folks show up here on TUG wanting to get info on getting out of the timeshare purchase the salesman/women made sound like a good deal..
For some they get cold feet and are within the period to rescind, and get out of the deal and we all breath a big sigh of relief.. Then there are other like these guys that bought then times were good for them and now it not and they are stuck..
Some rules i follow is never buy on the day you see something, especially big ticket items, ... UNLESS you have done a ton of research and know what you are getting.. Many people are shocked to learn what they paid 15K for can be found, with out some of the add ons, for 1-2K. and many have never heard of timeshare before the free 3 night 4 day special offer came to them..
I hope these guys find some help but it's not a good outcome most of the time.. Sale is not an option in many cases, bankrupt is not a real good option,, not enough points to rent the unit to cover MF at least much less the monthly payment, so what do you do.. The developer spent a TON of money to make sure you can not get out of the contract short of foreclosure and a big ding on your credit.
Stay away from the Timeshare exit folks,, they talk a good game but there is NOT guarantee it will work and if not you are on the hook for more money.. It might be worth a look at some of the attorney based ones.. I have heard where some folks it did work but not sure what they had, how much owed, or the outcome.. might be worth a deep dive search to see.. but the rule #1 is no money up front ...
Good luck !!
For some they get cold feet and are within the period to rescind, and get out of the deal and we all breath a big sigh of relief.. Then there are other like these guys that bought then times were good for them and now it not and they are stuck..
Some rules i follow is never buy on the day you see something, especially big ticket items, ... UNLESS you have done a ton of research and know what you are getting.. Many people are shocked to learn what they paid 15K for can be found, with out some of the add ons, for 1-2K. and many have never heard of timeshare before the free 3 night 4 day special offer came to them..
I hope these guys find some help but it's not a good outcome most of the time.. Sale is not an option in many cases, bankrupt is not a real good option,, not enough points to rent the unit to cover MF at least much less the monthly payment, so what do you do.. The developer spent a TON of money to make sure you can not get out of the contract short of foreclosure and a big ding on your credit.
Stay away from the Timeshare exit folks,, they talk a good game but there is NOT guarantee it will work and if not you are on the hook for more money.. It might be worth a look at some of the attorney based ones.. I have heard where some folks it did work but not sure what they had, how much owed, or the outcome.. might be worth a deep dive search to see.. but the rule #1 is no money up front ...
Good luck !!