Leaving HVC/Diamond

[Bbmom1989]

We have owned time shares since the early 2000’s. We like others have used them sporatically, gifted to others, and just let it sit. Now in the later part of our lives we need to get rid of them. We currently own 57,000 points and our maintenance fees for 2025 are $14,000. To prepare for leaving the program the 2025 fees are paid and we will use some points, but move the rest of the points to the Hilton Honors club through the credit cards, it will allow us to use what is left better.

I read the printed information from HGV about the transitions program which appears to cost one and a half years of maintenance fees to get out of the program. I won’t be doing that. Currently, as I tried to contact the Transition team by phone / email the messages are that the program is currrently on pause and there is no anticipated restart date. I am trying to do this in an up and up way, but am quickly losing my patience.

I see my option as pay them more money over theextiated $250K that we have already paid, or to just walk away. I am of an age I do not care about them coming after us in foreclosure. Are there other options out there that I could pursue or am I like others just stuck in a self imposed no win situation.

Thank you for any guidance or suggestions you may have.

 

[pedro47]

To the OP, I feel there are many Diamond Club members exactly like you.
Their timeshare are paid in full and they are in the late sixties or early seventies. They are having medical problems liked high hypotension, cancer and heart problems.

These Diamond owners do not have a mortage.

They do not want to purchase anything new from Hilton.

These owners are not physically able to travel and they need to exit their timeshare. IMHO

 

[TUGBrian]

you have the gist of it...

pay them to surrender it back and be done with it, or walk away

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

 

[DebraR]

Could you break-up the 57,000 points and sell or give them away to several people? I was able to sell my HGVC 1 bedroom premium on International Dr. in Orlando for about the half of the cost of the transition fees. We used Susie Bell in Orlando, who does nothing but Timeshare transfers. She's very reasonably priced.

 

[TUGBrian]

unfortunately the OP owns diamond/hvc...which have no practical resale value due to the restrictions placed on the resale buyer unlike HGVC.

 

[pedro47]

Diamond/HVC have no market sale value on the resale market and that is a major problem after the OP, probably paid over $20,000 for their timeshare, twenty plus years ago; and now paying over $14,000 a year in maintenace fees. IMHO

 

[Bbmom1989]

Thank you for this discussion - it reflects the one that has been going on in my head for a year or so. I listened to the recent YouTube TUG did about leaving timeshares and it was helpful. One thing that was mentioned was knowing what the debt laws regarding walking away are in your state. What is the best way to research those or are there key words that will help with a google search on the state website? Thank you so much for this thoughtful response to my question.

 

[TUGBrian]

if you truly want a definitive answer, seeking out a local attorney that specializes in debt collection (not timeshares) would be your best bet.

however, the risk of a timeshare coming after an owner for non payment of maintenance fees is nonexistant, in fact ive never heard of it happening in this type of situation ever.

obviously if the debt owed was in the 6 or 7 figure range, that might change the algorithm a bit...but ive never encountered that situation either.

 

[Bbmom1989]

Thank you