Helping out the in-laws [getting out of Diamond Resorts]

[jdbonney]

Greetings

im writing from just outside Toronto, Canada. my In-laws bought a timeshare with diamonds resorts back in the 90’s.

in the past 10 or so years they have moved to exclusively cruising and have been paying their maintenance fees and never using the timeshare. It’s awfully expensive and they asked me how they can get out from this obligation.

I did some research and found that not only is it hard to get out, it can be expensive.

As the timeshare is in the USA and we are in Canada I told them they should probably just stop paying. The collections can’t do anything to them across the border and they have no USA credit score to worry about.

is there a better way I could counsel Them to deal with this?

thanks for any help

james

 

[Passepartout]

Greetings

im writing from just outside Toronto, Canada. my In-laws bought a timeshare with diamonds resorts back in the 90’s.

in the past 10 or so years they have moved to exclusively cruising and have been paying their maintenance fees and never using the timeshare. It’s awfully expensive and they asked me how they can get out from this obligation.

I did some research and found that not only is it hard to get out, it can be expensive.

As the timeshare is in the USA and we are in Canada I told them they should probably just stop paying. The collections can’t do anything to them across the border and they have no USA credit score to worry about.

is there a better way I could counsel Them to deal with this?

thanks for any help

james

I'm assuming the TS is paid off (no mortgage, just annual maintenance). You (they) might consider listing it on the TUG Free timeshares subforum.. Worst case scenario, they might have to pay the transfer to a new owner (about $300 USD) from LT Transfers- a trustworthy firm owned by TUGgers.

I am not sure if Diamond has a deed-back program, but even if they do, they charge for this. Others will chime in with this info.

OR as you noted, they can simply stop paying and let the developer foreclose, as it won't affect their credit score.

Jim

 

[TUGBrian]

diamond does have a surrender program, but its not free.

costs nothing to reach out and ask to get all your options though.

Options for owners to get rid of a Diamond Resorts Timeshare or Points

Options to Exit your Diamond Resorts Timeshare Ownership | TUG helps owners discover the truth about timeshare exit and avoid scams for free for over 30 years

tug2.net

 

[easyrider]

Greetings

im writing from just outside Toronto, Canada. my In-laws bought a timeshare with diamonds resorts back in the 90’s.

in the past 10 or so years they have moved to exclusively cruising and have been paying their maintenance fees and never using the timeshare. It’s awfully expensive and they asked me how they can get out from this obligation.

I did some research and found that not only is it hard to get out, it can be expensive.

As the timeshare is in the USA and we are in Canada I told them they should probably just stop paying. The collections can’t do anything to them across the border and they have no USA credit score to worry about.

is there a better way I could counsel Them to deal with this?

thanks for any help

james

You could try giving it away here at Tug or look for the Diamond Resorts owners group and see if anyone wants it. Often times its easier to pay to give it back.

When abandoning a maintenance fee debt, you need to be sure it isn't tied to your country. If the mf is paid to an American Company your credit score might not be hit. If its paid to a Canadian company your credit score is likely to take a hit if you ignore the debt. The only problem with taking a credit score hit is probably getting into a decent retirement home. Some do check a persons credit score.

Bill

 

[Passepartout]

OP posted the inquiry, then disappeared from TUG. <sigh>

 

[LannyPC]

As the timeshare is in the USA and we are in Canada I told them they should probably just stop paying. The collections can’t do anything to them across the border and they have no USA credit score to worry about.

is there a better way I could counsel Them to deal with this?

As some have already suggested, contact the resort's Homeowners' Association and ask if they will take back the TS but mention that, in no uncertain terms, the parents will not be paying any more money in MFs and that your parents don't care about any collection agencies or credit score hits because they live across the border. This would be in the resort's best interests to take the TS back amicably.

Since you have been on these boards for over 15 years now, it goes without saying, do not contact any of these relief/exit/cancel companies that claim they can get your parents out of their TS easily and pain-free.

 

[pedro47]

The OP, in fifteen (15) years have only posted one message. Please be thoughful.
Plus, she is from Toronto.

 

[hurnik]

Does Diamond allow you to transfer (ie: sell/gift) to another person? Now that HGV owns Diamond, not sure what fees/procedure is involved. I'd have to dig more into this, but maybe a way to get access to the Diamond resorts without having to resort to HGV MAX? Might be interested in picking one up that way (although this may be more of a question better asked over in the HGV forum)

 

[geist1223]

You can sell DRI. However Resell DRI is restricted to its Home Collection.