Help!

[Mickie2410]

We are a Canadian family who very foolishly bought a Wyndham resorts plan in Vegas. Two yrs later we have never used it and can absolutely not afford it. Still owe a chunk on the loan. Wondering if they can sue us here in Canada for non payment? They didn’t take our SIN so not sure if they can affect our credit rating here. Looking for advice on how to get out of this if possible to save my family from financial ruin.

TIA

 

[Passepartout]

If it was me, and I was on the brink of financial ruin, I'd stop paying and let the chips fall where they will. It's unlikely they will sue, though you might get nasty letters from collection agents. Eventually they'll foreclose and you'll be done. They might even offer to take back the deed, but it won't happen as long as you are making the payments.

Good Luck.

Jim

 

[Mickie2410]

Thank you for the reply! I still have the foolish loan payment, it’s 600 Canadian a month??

 

[Fredflintstone]

Canadian credit ratings are domestic. I am not sure where your loan originated from (Canada or US), but if it’s US, they cannot touch your Canadian file normally. It really depends how the loan was derived.




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[Grammarhero]

Out of six American timeshares defaults reported by Canadian tuggers, none got reported to the three credit agencies.

 

[Grammarhero]

@Cyrus24 @Eric B @ecwinch @CalGalTraveler
@dgalati
FWIW, this is a TS owner who both cannot afford the TS payments and is worried about her credit score.

 

[Grammarhero]

NV’s foreclosure procedures are at NRS 119A.550 to .560

NRS: CHAPTER 119A - TIME SHARES

www.leg.state.nv.us

 

[Grammarhero]

Thank you for the reply! I still have the foolish loan payment, it’s 600 Canadian a month??

Afterwards, would you DM me on whether your credit got affected? Best of luck.

We are sorry about your situation. However, I live for these situations on TUG, a chance to help struggling TS owners. I am sure with an extra $600/month, you could pay rent, put food on the table, and buy toys/gifts for your kids, which would bring them smiles.

 

[Mickie2410]

Thank you! I sure will post results if I take the plunge and just walk away! Stupid stupid expensive mistake....hopefully all will turn out

 

[Mickie2410]

Canadian credit ratings are domestic. I am not sure where your loan originated from (Canada or US), but if it’s US, they cannot touch your Canadian file normally. It really depends how the loan was derived.




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Canadian credit ratings are domestic. I am not sure where your loan originated from (Canada or US), but if it’s US, they cannot touch your Canadian file normally. It really depends how the loan was derived.




Sent from my iPad using Tapatalk

I believe it was in house financing by Wydham

 

[Mickie2410]

I just looked at the papers we signed and the “mortgage” is from the states it looks like directly from Wyhdam Vacation Resorts

 

[Grammarhero]

I just looked at the papers we signed and the “mortgage” is from the states it looks like directly from Wyhdam Vacation Resorts

Check your DMs or the mail icon at the upper, top right.

 

[Mickie2410]

This is the last time I’m going to respond to one of your post.
First let me be clear that there’s hardship cases where people can’t afford to keep paying!!
I’m not accusing the OP of anything & have no clue what their personal finances are & I don’t want the OP to expose any financial information by responding to this post or answering any questions.

My problem is you don’t have any idea of what the OPs personal finances are when you give blank advice either.
In my life experience when people say they can’t afford something often times they can afford it but it’s the lifestyle they’ve chosen to live that is the core problem.
I don’t know any of the following answers to the questions I’m going ask you but you evidently do since you’re often giving the advice.
What’s the OPs annual income?
How much do they spend on cigarettes & alcohol a year?
What do they spend eating out a year?
How much did they spend on Christmas gifts this year?
What kind of a vehicle & how old of vehicle?
What’s their house worth? Mortgage?

If the problem is a lifestyle that people have chosen to live odds are your advice is a temporary fix & the problem will probably be repeated as a bigger problem.

Finally you put a couple of lawyers or Attorney in your post. Are you licensed in all these states your giving advice on ? I say advice due to your & FredFlintstone posts stating that you’re giving legal advice.
FredFlintstone posted he works for an International Law Firm. Are you using TUG as a platform for resume or a future business endeavor??
Not accusing you of doing anything illegal, just some questions out of curiosity.

Is this directed to my questions? If I have done anything inappropriate please let me know via private message?

 

[CalGalTraveler]

Is this directed to my questions? If I have done anything inappropriate please let me know via private message?

You can ignore. He is a troll that wants to leave consumers unaware of their rights under the law so developers can continue to lie and charge more extortion fees to exit. It is possible he is an agent for the developers.

 

[Iggyearl]

Mickie, you haven't done or said anything wrong. There has been a "urinating contest" going on for some time. It seems to be "Braindead" vs. "Grammerhero and "Fredflinstone." Two other threads have been closed because of the personal friction created. Hopefully the promise of Braindead to make it his last response to another post will become a reality. The website will be better off because of it.

 

[Jan M.]

Is this directed to my questions? If I have done anything inappropriate please let me know via private message?

No this not directed at you. I understand your confusion and an explanation might help. His response is in regards to what has been an ongoing topic with other people in several threads and not just this particular forum. He does bring up some valid points.. But again they are not directed at you personally.

 

[Braindead]

Is this directed to my questions? If I have done anything inappropriate please let me know via private message?

You’ve done nothing wrong & you don’t need to reply. I’m not asking you for any details. Just asking a lawyer what he knows before giving legal advice

 

[CalGalTraveler]

FYI...This is legal INFO similar to what one would read in an medical doctor Q&A column, or financial planning magazine. YMMV. Not legal advice. Mickie should spend an hour with a lawyer armed with this legal INFO to review their specific situation before moving forward.

 

[Mickie2410]

Thank you! I just wanted info to be armed with

 

[Fredflintstone]

I always recommend seeking legal advice. Not because I am trying to garner income for others. It’s because each situation is different. Think of it this way. If you feel unwell, go see a doctor who can investigate and help find solutions. It’s just smart.

Question: Have you talked to the resort? Braindead is right in saying they have hardship solutions. Perhaps that is a good starting point. Depending on what happens, you can better plan next steps.

I am always on the side of trying negotiations first.




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[bogey21]

I’m not accusing the OP of anything & have no clue what their personal finances are...

And that is the way it should remain. OP asked a question and is getting some responses. Presumably he can slug through the responses and better understand his situation. IMO what you get here is not legal advice. It is only guidance. One pays lawyers for legal advice...

George

 

[Fredflintstone]

Here is the difference between legal information and legal advice. I hope you find this helpful.

http://www.cplea.ca/wp-content/uploads/LegalInfovsLegalAdvice.pdf

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[Grammarhero]

Mickie, you haven't done or said anything wrong. There has been a "urinating contest" going on for some time. It seems to be "Braindead" vs. "Grammerhero and "Fredflinstone." Two other threads have been closed because of the personal friction created. Hopefully the promise of Braindead to make it his last response to another post will become a reality. The website will be better off because of it.

It’s been largely an one-sided urinating contest. I’m used to others disliking and focused on me, particularly the opposing parties. Then again, dozens, if not hundreds, of thousands of dollars were usually at stake.

It’s unusual for someone to be so focused on me, with almost no money at stake, with the possible exception of Wyndham VIP changes.

 

[Grammarhero]

Mickie, you haven't done or said anything wrong. There has been a "urinating contest" going on for some time. It seems to be "Braindead" vs. "Grammerhero and "Fredflinstone." Two other threads have been closed because of the personal friction created. Hopefully the promise of Braindead to make it his last response to another post will become a reality. The website will be better off because of it.

In our defense, it’s only one other thread, not two, that were closed. One thread not being closed, although it was close to, makes a huge difference.

 

[WVBaker]

You’ve done nothing wrong & you don’t need to reply. I’m not asking you for any details. Just asking a lawyer what he knows before giving legal advice

You are not entitled to your opinion. You are entitled to your informed opinion. No one is entitled to be ignorant.