how do i help my dad exit his diamond timeshares ?

[cumco52]

my dad would like to exit his diamond timeshares. there are no loans. they are paid off entirely. we tried their exit program but they want him to pay the maintenance fees for the rest of the year. if we just stop paying the maintenance fees, will they send his balance to a collection agency ? we are just looking for ways to keep him from having to pay a collection agency. any suggestions ?

 

[DeniseM]

He can give it away on TUG to someone who would like to own it at no cost to himself: How can I give my timeshare away on TUG?

 

[HudsHut]

Welcome to TUG @cumco52

Here is the thread on Diamond deed backs. Start at the end and read the most recent posts.

Sticky - DRI now accepting deedbacks - Give back your Diamond Resorts Timeshare

Thanks Brian. I didn’t want to pry too much or sound pushy. Next time we meet up I’ll make a few suggestions and also ask about her other T/S that she doesn’t seem to use much either. She may think she’s stuck, but maybe not. .

tugbbs.com

The fact that they WILL take it back for one year's maintenance fees is good news for you. That would be the most straightforward way.

Sadly, Diamond punishes its resale owners, so anyone who buys it from you will have restrictions on the ownership. (I don't own Diamond, so I can't list the restrictions, but they are severe enough to keep most people from assuming a resale ownership.)

The last course of action is to stop paying altogether. He will get letters / phone calls. His credit score may decrease.

Most importantly: warn him that he may get phone calls from scammers who will say they can get him out of this timeshare. The scammers take his money upfront, and will disappear and he'll still have the timeshare. Advise him NOT to answer any calls from unknown callers. Anyone who really needs to talk to him will leave a voice message.

 

[TheTimeTraveler]

Paying maintenance fees for the rest of the year could be a quick and easy way to be legally rid of this headache. You can give it away but you don't know how long it will actually take.



.

 

[Passepartout]

@cumco52 An 'out' for the cost of one annual fee is a bargain in the overall scheme of things. How about paying the MF, then booking a week vacation since it's paid for. You (he) can neither take a 'farewell' vacay, or list the week on the TUG Marketplace, or craigslist or wherever. Get some cash for the rental, get a 'guest certificate' for the renter. Dad gets out, and probably gets enough for the week to pay the MF. Done and done.

Jim

 

[theo]

@cumco52 An 'out' for the cost of one annual fee is a bargain in the overall scheme of things. How about paying the MF, then booking a week vacation since it's paid for. You (he) can neither take a 'farewell' vacay, or list the week on the TUG Marketplace, or craigslist or wherever. Get some cash for the rental, get a 'guest certificate' for the renter. Dad gets out, and probably gets enough for the week to pay the MF. Done and done.

Jim

Sound advice and good input, but it might be that the DRI deedback paperwork incorporates termination of use / access upon signature. Not claiming to know that this is the case, just advising OP to look for "the fly in the ointment" before making any use or rental plans once the deedback agreement and / or quit claim deed is actually signed.

Personally, I would strongly recommend pursuing and concluding the "Transitions" exit option in this situation. It would be the fastest and cleanest "out". Any "giveaway" would take time (and still likely require paying the current year fees) and then dealing with "closing" details to permanently effect the transfer. Walking away is an option, but one that may well invite bothersome collection efforts that Dad doesn't need. Put it in the rear view mirror as quickly and cleanly as possible via "Transitions". Just my personal opinion.

 

[Passepartout]

deleted

How does this person fund his 'business'? Cancelling a vacation club is easy. Just stop paying.

 

[Patri]

Skip the course. That advice is from a first time poster. TUGGERS have given you solid advice. If Dad does not care about his credit score (and it may not even be hit), just walk away. Don’t answer the phone and don’t panic.

 

[theo]

Hello
Connect with Wayne C Robinson.....former within timeshare/vacationclubs sales.

With all due respect, I believe that Wayne Robinson's experience is strictly limited to Mexican RTU (right to use) contracts; he was formerly employed in the Mexican timeshare industry and is someone who now peddles his book and "services", based upon that former employment. Not at all applicable or at all relevant to the OP's father's current situation with DRI.

While Mr. Robinson has experience with Mexican RTU's, parting company with a deeded timeshare ownership here in the U.S. is a very different animal from abandoning a (no ownership) RTU "membership contract" in Mexico. In the latter instance, it's as simple as just walking away; not so with (in perpetuity) deeded ownerships here in the U.S.

 

[Lakeclouds]

How does this person fund his 'business'? Cancelling a vacation club is easy. Just stop paying.

I thought they could come after you in collections? Isn't that why people pay for a "deed back" instead of simply not paying their MF?

 

[WackyLucy]

I thought they could come after you in collections? Isn't that why people pay for a "deed back" instead of simply not paying their MF?

"Coming after you" generally involves little more than a third party collection agency temporarily making phone calls and sending toothless demands by mail.
People pay $$ to "deedback" in order to achieve a quick, clean, lawful and permanent shedding of ownership and all future responsibility for maintenance fees.

 

[brendab25]

Are you sure about the walk away method? I tried this, but they are always very persistent, so I get scared of legal action and give in.

 

[brendab25]

Does anyone have a link or know the process of "Deed back" for Avalon/NYX in Mexico?

 

[Passepartout]

Does anyone have a link or know the process of "Deed back" for Avalon/NYX in Mexico?

There is no deed for foreigners in Mexico. Just stop paying. You might get some kind of ugly letters, but there is no legal action they can take but not taking your reservations and that's what you want anyway. Pitch the letters.

 

[theo]

Are you sure about the walk away method? I tried this, but they are always very persistent, so I get scared of legal action and give in.

This is exactly the response that those Mexican RTU operations hope for and depend upon, despite their actually having absolutely no real leverage whatsoever.

 

[Eggrollcreative]

My sister has her paychecks garnished for a car she turned in 30 years ago. Now they want $30k for a $9k car she gave them back. Sometimes this stuff comes back to haunt you.

 

[theo]

My sister has her paychecks garnished for a car she turned in 30 years ago. Now they want $30k for a $9k car she gave them back. Sometimes this stuff comes back to haunt you.

With respect, there is a huge difference between a vehicle purchase / loan / repossession in the U.S. vs. someone walking away from a RTU timeshare "membership" in Mexico.

 

[Bill4728]

Look If you have to pay the MFs Just book a week and use it or give it to someone. THEN give DRI back their TS.

 

[cumco52]

my most desired option is to walk away by stopping the $1278 monthly maintenance fees. i would have thought that there would be an offset in that they get the timeshares back to cover the maintenance fee debt. i am not concerned with the collections unless they sell the debt to a debt collector who tries to obtain a judgment in the state in which my dad has assets or a sister state where the judgment can be easily transferred from. i used to do wage and bank account garnishments in a previous employment and so i would say that it would be very difficult to do. unfortunately, he has assets so it is not impossible. so my primary question is, has anyone ever heard of maintenance fee debt collections going this far ( which would be that they would actually file a lawsuit and obtain a judgment in order to garnish assets ) ?

 

[Passepartout]

my most desired option is to walk away by stopping the $1278 monthly maintenance fees.

i am not concerned with the collections unless they sell the debt to a debt collector who tries to obtain a judgment in the state in which my dad has assets or a sister state where the judgment can be easily transferred from. my primary question is, has anyone ever heard of maintenance fee debt collections going this far ( which would be that they would actually file a lawsuit and obtain a judgment in order to garnish assets ) ?

I have not personally heard of an entity getting a judgment against an owner whose only default is maintenance fees. TUGger @Grammarhero has kept a database of folks who defaulted or otherwise terminated their ownership unilaterally. You might click on his blue username and ask.

BTW, How the heck does one get into a situation where they pay $1278 a MONTH in maintenance??? I'd say he has a BUNCH of weeks to liquidate! If they were simply rehomed in the Bargain Deals subforum, that would put a tourniquet on the bleeding! He wouldn't get much of his initial cost back, but that's how timeshares are.

Jim

 

[Topher]

LOL, guessing OP intended to say "yearly" rather than "monthly".

 

[CalGalTraveler]

Here are the threads @Passepartout was referring to by @Grammarhero. No need to contact @Grammarhero because these should have all the latest info you need unless you have a specific question. He is a lawyer but is unable to provide legal advice. Think of this as being like a law review magazine vs. advice.

[ 2022 ] Timeshare Default Credit Report/Collection Tracking

Some of you know I have been tracking this. Out of four (4) more TS defaults reported on TUG Facebook, one (1) got his credit affected. I have tabbed the following stats(updated 5/2022): TS defaults w credit drops: 47 out of 107 TS defaults w collections: 12 out of 107 TS defaults w...

tugbbs.com

Links to Official State Timeshare Laws and Guides/Manuals

@TUGBrian @DeniseM @CalGalTraveler take a look. This weekend, I’m creating a spreadsheet with official links to states’ timeshare laws, as well as their statuses as to non-judicial, anti-deficiency foreclosures. In the meantime, I will just keep adding notes. * Legal Disclaimer: This list...

tugbbs.com

In addition to MF, doesn't Diamond charge a $1000 (?) fee to take it back? That's almost $4000 to get rid of this. Ugh! I imagine he is elderly, has been paying for years and now needs the money for healthcare and other living expenses...correct?

Is this a deeded timeshare? If so then it will depend on the state laws where the deed is located in the post above. Timeshare deeds in Florida, South Carolina, Calif, and a few other states are non-judicial, anti-deficiency protected. So you can walk if you don't object to the foreclosure (i.e. do not answer the phone, respond to letters, or have your Dad talk to the collectors or they will claim he is objecting) All they can do is take back the timeshare as the settlement. Not possible in NV or other states where they can garnish.

If it is trust points, it is untested and unknown because the land trust is in Florida. If you go this route, please report back to pay it forward to others in a similar situation. (This is why I will only buy deeded or RTU timeshares).

Good luck!

 

[pcfd1655]

Hi All - I did finally get rid of my Diamond timeshare. Yes, they did add a termination fee (not sure of the term they used and think it was $1500). But maint fees had gone to $2500+ so I was more that happy to stop the bleeding and be rid of it. It's painful to see an 'investment' go away for $0 but you get past that pain very quickly when there's no January maintenance bill in the mail! Contact DRI directly, they'll look at your account and then make a decision - usually yes if the account is up to date - and send you paperwork. Get it signed and notarized and bye-bye DRI

 

[quikitikit]

We had bought our Diamond Resort resale in 2009 every other odd year use. When we were thinking about giving up this timeshare in 2017, we called Diamond Resort to give up and return it. Maintenance fees were around $600 per year. After receiving the paperwork, we decided not to give it up and to keep it. My husband said our trades of the 1 bedroom resulted in great vacations. We have a 2 bedroom 2 bath at South Lake Tahoe. Now that Diamond Resorts has been bought by Hilton Grand Vacations, the “Diamond Resorts“ portion is now considered “The Club” within the Hilton Grand Vacations website. I found out that the studio portion which formerly always had to be used at Lake Tahoe now can be deposited to Diamonds former Destination Xchange for trading to another location. This is in addition to the 1 bedroom which we always traded on Interval World to another location. If in the future I decide to give up my Diamond Resort timeshare, I hope it will be as easy as when I tried to return it back in 2017. Hope there is no termination fee either!

 

[Sweeper]

cumco52 if you want to use Transitions their new email is Transitions@hgv.com and their phone #855-342-3689. If his timeshare is in Arizona, it should only cost $250 but otherwise it will be $1000 to deed it back. The big thing to remember are their conditions: MFs paid for the year, no mortgage, not currently working with a timeshare exit co, and no current reservations for that year for said ts.