How do I get out of Tafer?

[jmk909er]

We recently went to Cancun and got talked into trading in our Worldmark for Tafer Residence Club. They said they woulf get us out of Worldmark and use our equity to reduce the price of Tafer. I am past the recission period. After getting home I began researching social media and found most people calling it a scam, run away, get out etc. There were a few positive but not many.
Some postings said that they will not cancel my Worldmark and I will get stuck with both.
Does anyone have any comments about this? Can I still get out of it? I have not made a single loan payment yet aside from a down payment of around 4k.
I have seen some posts saying just don't pay it and there is nothing they can do.
Your thoughts and suggestions please.

 

[Passepartout]

We are in the 'pay nothing' camp. You own nothing and all they can do is threaten. Their only tool is loss of use. Any derogatory notice on your credit score can be addressed with a letter that must be included in any credit inquiry. Consider locking your credit reports. You might notify Worldmark that your account is not for sale.

 

[easyrider]

We recently went to Cancun and got talked into trading in our Worldmark for Tafer Residence Club. They said they woulf get us out of Worldmark and use our equity to reduce the price of Tafer. I am past the recission period. After getting home I began researching social media and found most people calling it a scam, run away, get out etc. There were a few positive but not many.
Some postings said that they will not cancel my Worldmark and I will get stuck with both.
Does anyone have any comments about this? Can I still get out of it? I have not made a single loan payment yet aside from a down payment of around 4k.
I have seen some posts saying just don't pay it and there is nothing they can do.
Your thoughts and suggestions please.

Taffer does take other timeshares as a partial payment on a new purchase. The problem is the terms and conditions provide Taffer a way to get out of doing so especially if there is anything owing other than a maintenance fee. The other problem is the length of time it takes to transfer a Worldmark membership.

Walking away might also depend on what type of credit line you used to make any payments so far. If it was your own credit card issued prior to buying the Taffer membership you have extra protections which extend the ability to dispute fraudulent charges for up to 120 days after signing and 60 days for other reasons.

Most timeshares aren't worth anything these days on the resale market. Especially if they are located in Mexico and there is a loan against it. Walking away or using it is about all you can do.

I'm sure you are aware that Taffer does have some really nice resorts. Besides Tafer , members have use of the Villa del Palmar & Garza Blanca Puerto Vallarta & Cabo, Villa del Palmar & Garza Blanca Cancun and a couple of others.

Bill

 

[NalokoNa67]

Hello,
I am new here. I have purchased a timeshare in Villa Del Palmar in Cancun last year in January. Price was at around $18,000. Everything was good until finances are going downhill. So now, I have decided to cancel after a year with them. I now have about $10,000 owing. I emailed them about my situation and have requested to cancel or transfer it to them. I know I will be losing money I put down but all I wanted is to get out of the timeshare. Until now they have no response, no email or phone call. At first, I used my credit card to make the downpayment then switched to bank transfers. Next month they will attempt to take out money from my account. They will not be able to get anything so I’m sure they will be calling. I don’t think my credit score will be affected if they are taking payments from checking accounts.
Anybody here have experience getting out of TAFER timeshares?

 

[WorldT]

As with the first poster here, there is nothing to be done. If your finances does not allow you to continue paying, then that is the end of the road. You will just stop paying and the unit or membership (most likely membership) will revert back to Tafer. Your 8k in payments is gone.
In the meantime, there will be some calls, emails, and maybe threats. Just ignore those. The only time you should respond is if you are sued in the USA and you receive a court summons. You can confirm the summons is legit by going directly to the courts website. This is very very unlikely but I am mentioning it in the event it happens.

For those who read this after, please note that the offer to buy (or more correctly: help you sell) your USA based timeshare when buying a Mexican timeshare is a ruse. The terms and process involved in that transaction will end up costing you money. The summary is, if you decide to buy a Mexican timeshare or membership, just look at offloading your USA timeshare by yourself first unless you plan on keeping both. I would strongly recommend against trying to combine both transactions no matter what you were promised.

 

[easyrider]

Next month they will attempt to take out money from my account. They will not be able to get anything so I’m sure they will be calling. I don’t think my credit score will be affected if they are taking payments from checking accounts.

It wouldn't matter how you paid this. If the debt originates from Mexico and the resort doesn't have a US affiliation , they won't be able to do much other than sell the debt to a debt collector.

Bill

 

[pedro47]

Hello,
I am new here. I have purchased a timeshare in Villa Del Palmar in Cancun last year in January. Price was at around $18,000. Everything was good until finances are going downhill. So now, I have decided to cancel after a year with them. I now have about $10,000 owing. I emailed them about my situation and have requested to cancel or transfer it to them. I know I will be losing money I put down but all I wanted is to get out of the timeshare. Until now they have no response, no email or phone call. At first, I used my credit card to make the downpayment then switched to bank transfers. Next month they will attempt to take out money from my account. They will not be able to get anything so I’m sure they will be calling. I don’t think my credit score will be affected if they are taking payments from checking accounts.
Anybody here have experience getting out of TAFER timeshares?

Notify your bank to block that bank draft transaction. ASAP.

 

[NalokoNa67]

It wouldn't matter how you paid this. If the debt originates from Mexico and the resort doesn't have a US affiliation , they won't be able to do much other than sell the debt to a debt collector.

Bill

They do have a connection with a company in Vegas who does all documents and phone calls. I live in Canada.

 

[NalokoNa67]

Notify your bank to block that bank draft transaction. ASAP.

I did that and all I they advised was to change my debit card number. Thanks.

 

[easyrider]

They do have a connection with a company in Vegas who does all documents and phone calls. I live in Canada.

Resortcom is the company that handles the membership accounts for UVCI and probably Taffer. They can initiate collections but they don't have much leverage on US credit because the contracts are from Mexico. I'm not sure what leverage if any that they have in Canada.

Bill

 

[moonstone]

I'm not sure what leverage if any that they have in Canada.

Probably the same or less than what they have in the USA. If an American company cant chase a debt into Canada, I'm sure a Mexican one would not be able to either.

~Diane

 

[Beekya79]

Hello,
I am new here. I have purchased a timeshare in Villa Del Palmar in Cancun last year in January. Price was at around $18,000. Everything was good until finances are going downhill. So now, I have decided to cancel after a year with them. I now have about $10,000 owing. I emailed them about my situation and have requested to cancel or transfer it to them. I know I will be losing money I put down but all I wanted is to get out of the timeshare. Until now they have no response, no email or phone call. At first, I used my credit card to make the downpayment then switched to bank transfers. Next month they will attempt to take out money from my account. They will not be able to get anything so I’m sure they will be calling. I don’t think my credit score will be affected if they are taking payments from checking accounts.
Anybody here have experience getting out of TAFER timeshares?

Same scenario here. We got suckered into Tafer after we had said NO several times. Put a downpayment and paid for a year the monthly installment. We decided to stop the bleeding last year in June. We purchased the TS back in April 2024. We had received calls but have been ignoring them and blocking them. Got a call from MCS not sure who they are but most probably a collection agency? As of now my credit score has not been affected. I live in Canada as well.

 

[Beekya79]

It wouldn't matter how you paid this. If the debt originates from Mexico and the resort doesn't have a US affiliation , they won't be able to do much other than sell the debt to a debt collector.

Bill

If the debt is now with the debt collector and I am in Canada what is the worst that can they do other than affecting our credit score.

 

[moonstone]

If the debt is now with the debt collector and I am in Canada what is the worst that can they do other than affecting our credit score.

As mentioned earlier, likely nothing will happen. It is extremely rare for any company to chase a debt into a foreign country due to the very complicated, lengthy and costly legal paperwork involved. The time, cost and effort just isnt worth it to them. Also a person's credit score from the US is not in any way connected to, or can affect, a credit score in Canada (or visa versa) as our son found out when he was transferred down to the US 2 years ago. He had an excellent credit score in ON and transferred the sales proceeds from his 1 & 1/2 million dollar home down to the TD bank in FL. When he went to lease a car he was denied because he had no credit rating in the USA. They didnt care about his bank balance and said he had to buy the car by paying cash.

The mom of friends/neighbours of ours died suddenly with about a US$20K loan she had taken out for a timeshare upgrade in FL just months before her death. Her son had no idea and had her estate almost closed when he discovered the loan when a late payment notice was received in her forwarded mail. He chose to ignore it and the next few letters that arrived he wrote "deceased, return to sender" on the unopened envelope and stuck it back in the mail. Since his mom's phone line was disconnected and no forwarding number on it soon after she died there were no phone calls. That was at least 10 years ago and he has never had any other communication from the timeshare or any collection agencies since.


~Diane

 

[easyrider]

If the debt is now with the debt collector and I am in Canada what is the worst that can they do other than affecting our credit score.

I'm not sure because Canada has some Commonwealth Laws that apply to somewhere close to 55 countries. Mexico isn't a Commonwealth country so its probably difficult to pursue any Mexican debt in Canada . Maybe if the financing is through a Commonwealth country there would be a way to the Canadian Court, idk.

@moonstone I think you are 100% right .

Bill

 

[Beekya79]

Thank you Bill and Diane for your input. What is the best thing that I should do now. Looks like this is now with the debt collector as I have received a call from MCS and looked up the 1-800 no. And I think its from Monterey financial services? Is that a debt collector in the US? This whole thing is giving me anxiety. I totally regret having myself suckered into this money grab. We still want to go back to Mexico but worried and scared that this default in our loan would give us limitation or worst give us danger in going back there. Definitely will not be attending any timeshares anymore.

 

[moonstone]

It appears Monterey Financial is an American company so chances of them coming after you in Canada are slim to none. Also having a loan debt in any country can not affect your ability to travel to that country as no companies (debt collections or other) computer systems are connected to the very secure country immigration computer systems. The best thing you can do is to ignore all mail from Mexico and the US unless you personally know the person and do not answer any phone calls from anybody not in your contact list as a debt collector can spoof a number to make it appear they are calling from within Canada.

Hang tight!

~Diane

 

[Beekya79]

It appears Monterey Financial is an American company so chances of them coming after you in Canada are slim to none. Also having a loan debt in any country can not affect your ability to travel to that country as no companies (debt collections or other) computer systems are connected to the very secure country immigration computer systems. The best thing you can do is to ignore all mail from Mexico and the US unless you personally know the person and do not answer any phone calls from anybody not in your contact list as a debt collector can spoof a number to make it appear they are calling from within Canada.

Hang tight!

~Diane

Thank you so much! This made me feel better now. Have a great day to you.