I am desperately trying to get out of VV timeshare

[Barudon]

My wife and I emailed the office to tell them that we are trying to get out of the contract. In the email, we told them that we belive that the way they got us to sign the contract was forceful and a coercion tactic.

The concierge department called us saying that we can't and they will help to make our timeshare experience great. They fwded our email to the legal department and they sent back a strongly worded email to say we can't get out and our experience was baseless.

Does anybody have any advice on next steps?

 

[Passepartout]

My wife and I emailed the office to tell them that we are trying to get out of the contract. In the email, we told them that we belive that the way they got us to sign the contract was forceful and a coercion tactic.

The concierge department called us saying that we can't and they will help to make our timeshare experience great. They fwded our email to the legal department and they sent back a strongly worded email to say we can't get out and our experience was baseless.

Does anybody have any advice on next steps?

I'm assuming you bought recently, and are beyond your rescission-allowed time? If this is the case, your options are limited. When you went to the presentation, you knew it was a sales presentation. no? And you saw at least enough value to you to entice you to sign the contract, no? You and your wife are over 21, employed, and legally able to enter into contracts to buy stuff, no?

If the above is true, you have two choices. One is to pay it off and sell, use, or give it away. About half of us here on TUG have done exactly that. We bought our first timeshare from a developer, and for whatever reason did not rescind the sale. If you decide to take this route, do what you can to pay off the high interest loan as fast as possible. Get a second job for a time and earmark the income to paying it off. Or (and I don't recommend it) take some funds from savings and apply them to the payoff.

The other option is default. Stopping payment. There will be consequences, including possibly getting a bad credit report, being turned over to collection, perhaps a significant drop in your credit score, resulting in higher loan rates on mortgage, car, student, and insurance costs for a while. It can take several years to live through a foreclosure, but eventually it will be behind you.

There are no easy ways out if you don't want the timeshare, and the rescission date has passed. I'd stress that those TS exit companies are ALL scams engineered to get more of your money without any more ability to cancel a contract than you have. Don't be fooled by those with 'lawyer' in their name. There are NO MAGIC WORDS to make a legal contract go away.

Jim

 

[TUGBrian]

summed up nicely above.

either continue to try to be a squeaky wheel, learn to use what you bought, or stop paying for it.

those 3 options are really all you have left once your rescission period has passed.

 

[Barudon]

Wow. The importance of reading the fine print... Sigh. Either option is very hard. We are not in great financial health so we find it hard to pay the monthly fee and then MF coming up.

The credit hit is also rough because we are a growing family. Need to buy a car and a house in the near future.

Thanks for all the help. It at least provided clarity.

 

[montygz]

Wow. The importance of reading the fine print... Sigh. Either option is very hard. We are not in great financial health so we find it hard to pay the monthly fee and then MF coming up.

The credit hit is also rough because we are a growing family. Need to buy a car and a house in the near future.

Thanks for all the help. It at least provided clarity.

If you can't afford to feed your family, don't pay for a timeshare.

If you are in bad financial shape, you can't buy a house and car anyway. Sure, some car dealer might sell you a car for 20% interest, but that is horrible.

 

[Barudon]

You can't always determine how your life will go in a year. When we bought, we had it and then I lost my job.

 

[Passepartout]

Wow. The importance of reading the fine print... Sigh. Either option is very hard. We are not in great financial health so we find it hard to pay the monthly fee and then MF coming up.

The credit hit is also rough because we are a growing family. Need to buy a car and a house in the near future.

Thanks for all the help. It at least provided clarity.

We hope this helps. I like to stress that timeshares are a luxury good. Please make sure that you have the necessities taken care od first. The mortgage. The retirement fund. Education funds for your kids. Have a good, reliable car that you won't be needing to replace soon. THEN consider picking up a timeshare within driving distance of where you live to start. You'll have time to upgrade or maybe decide that RVing or cruising is more to your family's liking with your vacation time and money. You can often rent timeshares from owners for less than maintenance fees, or hotel rooms. Watch the Last Minute Rentals on TUG or many other sites.

Good Luck going forward. Buying developer timeshares is a BIG mistake!

Jim

 

[TUGBrian]

how long ago did the rescission period end?

id read this thread, perhaps there is still a chance you can end your ownership by just forfeiting the deposit!

Please help [we bought] HGV and [we were scammed]

Do you think they will send extra document for closing ? Or automatically after recession end they close it on their end ? Ask the escrow agent - which I don’t know but must exist. They might know what’s still needed or perhaps you already signed all the documents including the loan document...

tugbbs.com

 

[Barudon]

It ended over a year ago.

They keep calling for us to come in and have another "owners meeting" so they can have us upgrade. We are on the points system and add I understand it, there is another level up from that. Do you guys know if that next level would be a new contract with a new rescission period?