HIVC sell

[Alisha]

My husband and I got a timeshare with HIVC back in Dec (2018). We got a personal loan to "pay it off". I feel like we CANT afford it and I need help with information to get rid of it, hopefully with getting money back to pay the loan off ...some. We don't have weeks. We have points.

Any and ALL help.is very much appreciated!

 

[Tank]

Unless it's from the 3 resorts that stay points , South Beach, Gatlinburg , or Lake Geneva it will have little to zero value.
If you are points your investment will revert to a week ownership or worse if it is trust points.
Best thing to do is figure out how to rent to recoup your money and use it when you can.
Sorry

 

[silentg]

Which resort?

 

[tschwa2]

Trust points have no resale value because HICV put so many restrictions on resale trust points and the mf is fairly high per point.
Based on your date of purchase my guess is you bought 30,000-50,000 trust points that have no resale value and almost no personal use value unless you can supplement with resale points at one of the 3 mandatory points resorts.

 

[LannyPC]

We got a personal loan to "pay it off". I feel like we CANT afford it and I need help with information to get rid of it...

Do you mean that you can' afford to pay the personal loan, the maintenance fees, or the peripheral costs of traveling (or all of the above)?

I'm glad you found TUG before you found any of these exit/cancel/release companies that claim they can get you out of your TS or mortgage. These are usually scams.

 

[simpsontruckdriver]

Basically, you are Simply Out of Luck (SOL). You can not sell it until the loan is paid off and Maintenance Fees (MF) are current. You can rent it out here or on sites like RedWeek, but the most you'll get is $1100/week (which is pushing it).

TS

 

[Alisha]

Do you mean that you can' afford to pay the personal loan, the maintenance fees, or the peripheral costs of traveling (or all of the above)?

I'm glad you found TUG before you found any of these exit/cancel/release companies that claim they can get you out of your TS or mortgage. These are usually scams.

Yes. I can't afford to pay the personal loan. And continue to maintain the annual fees as well

 

[LannyPC]

Yes. I can't afford to pay the personal loan.

Who is the lender on this loan? From what I gathered from your OP, you got a loan with the timeshare company and then you got a personal loan (likely with a lower interest rate) from another source to pay off the loan with the timeshare company. Is that correct? Knowing this will make a huge difference in what many here would recommend to you.