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Need help !! Please !! New to timeshares

Jason n ross

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Hi . Was hoping someone can help me before its too late.

On this past Friday my wife and I were in Las Vegas. We got approached and of course went in on a 90 minute presentation on a timeshare for the planet Hollywood towers.

Needless to say we bought into it. Prior to our leaving vegas we went to the planet Hollywood casino and asked where the towers were. Well long story short the planet Hollywood towers we timeshares for is now the Hilton grand vacation !!

That put a raw feeling in our stomachs so when we got home yesterday we decided we would begin our decision to rescind, only to find out or been informed that because it was a foreclosure or 'loan assumption' there is no rescind period and we are stuck with it!!

Does anyone know if this is true or what steps we can pursue if any?

We have faxed in a notice to rescind already as this is day 5, and the last day according to Nevada law.

We are from Canada so was hoping someone can help , please??
 

presley

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Ugh, sorry to hear that. There was another similar post here not too long ago. I cannot remember if the person was able to get out or not. The sale was considered a resale and therefore, the couple were told that they couldn't rescind.

Try running a search here to see if a thread like yours comes up. Hopefully, it will have a useful answer in it.

EDIT TO ADD: I found the thread I was thinking about, but it says it is in regards to Westgate. http://tugbbs.com/forums/showthread.php?t=185400&highlight=rescind+vegas

It does have useful info on buying resale from the developer and rescind rights, though.
 
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Passepartout

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Because this is a 'resale', you were told straight. Nevada law says no rescission period exists. And our experience with Westgate (Wastegate) is that we doubt they will allow you to rescind out of the kindness of their heart. There IS no kindness in their heart.

Bottom line: you probably own what you bought. It will be impossible to even give away if it isn't paid for.

Soooo, what you are going to have to do to realize ANY benefit is to learn how to use what you bought. First read the contract. Anything the salesman told you is suspect and may well be outright lies. The contract is what rights you really have.

After you figure out what you have, start reading the Newbies forum. and anything you can find in the Westgate or Planet Hollywood threads you come across using TUG's search function. There is a LOT!

Good Luck, and Welcome to TUG.

Jim Ricks
 

timeos2

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How much did you put down? Since this is an organization that never hesitates to manipulate the system to benefit themselves including defaulting or refusing to pay debts I would strongly consider doing the same to them. Especially since you aren't US citizens their ability to impact your credit may be minimal. But if you're worried about your credit find out what a default in the US could do to your record.

Rather than paying for a less than worthless timeshare in a horrible building /development that has been nothing but problems since it's proposed construction and the associated fees, I would seriously consider challenging any charges made to your credit card(s) (you may lose that challenge as you did authorize the charge - you'd have to prove it wasn't as represented to win) and simply refuse to make any payments going forward. Not a penny.

If you are paying more than $1 for this you are being ripped off. Do whatever you have to and do not give them another dime. Good luck.
 

Jason n ross

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Hi John and thanks to all the replied.

John we put down 1700.00 on visa for down payment and they will proceed to take 286 monthly beginning in march.

We thought this was a perfect opportunity to get away every year , but again as we really looked closely we noticed it was every 2nd year we get our week plus according to the paperwork 6 extra weeks. I call that a hoax as in fact that exact ' 6 extra weeks was written on the 'estimate' sheet I like to call it , it infact was not in the contract.

It seems the only saving grace we may have is with our credit company to just tell them we were told false information and continue forward. If that doesn't work then I guess we are SOL .
 

Passepartout

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It should come as no surprise that many- if not most TUGgers bought at least one TS from a developer and were either too late or chose not to rescind. Most still use and enjoy their timeshares. While we truly hate to see a newcomer fall prey to the sharks- especially Westgate sharks- it happens.

If you really want to vacation annually, simply buy the other semi-annual one resale for low cost on eBay or TUG marketplace or wherever. Your average cost will be half of what you are paying for the Las Vegas one and you are getting what you want. Just don't buy a Westgate.

Hang around TUG. Learn. Rent. Vacation. Travel. Enjoy. Life is too short to cry over spilled milk.

Jim
 

pacodemountainside

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Since in Canada and given Westgate's reputation I would be inclined to protest with credit card company and walk away. If necessary cancel CC.


Since they lied to you about every year usage and bonus weeks I would expect you can only book 60 days out which makes totally, totally worthless. II get-a-ways are less than MF.

Unfortunately, prior thread OP did not return, either he cut a deal and was silenced or recognized lost cause.
:wall:
 

timeos2

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It should come as no surprise that many- if not most TUGgers bought at least one TS from a developer and were either too late or chose not to rescind. Most still use and enjoy their timeshares. While we truly hate to see a newcomer fall prey to the sharks- especially Westgate sharks- it happens.

If you really want to vacation annually, simply buy the other semi-annual one resale for low cost on eBay or TUG marketplace or wherever. Your average cost will be half of what you are paying for the Las Vegas one and you are getting what you want. Just don't buy a Westgate.

Hang around TUG. Learn. Rent. Vacation. Travel. Enjoy. Life is too short to cry over spilled milk.

Jim
Better to have lost $1700 than pay the rest & have to deal with Wastegate. Get out while the gettings good. Do not pay one more cent & do everything possible to get the $1700 back.

There are great timeshares out there for under $1000 total purchase. This one isn't worth $1 so why keep it?
 

Passepartout

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Granted, the TS in question has little to no value, but if it boils down to pay it off or wreck the OP's credit for many years, paying it off MAY be the lesser evil. It's worth examining the potential ramifications of defaulting. I don't know what that might be. DO YOU?
 

pacodemountainside

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Granted, the TS in question has little to no value, but if it boils down to pay it off or wreck the OP's credit for many years, paying it off MAY be the lesser evil. It's worth examining the potential ramifications of defaulting. I don't know what that might be. DO YOU?
Jim:

No, I do not know and has been discussed in many threads here and no consensus, is a crap shoot. Does the Devil get your soul and soles or just a bite out of your butt?

Being retired and could care less what my FICO score is, my perspective may be much different than one planning on buying a house in near future.

My thinking is like credit manager post than he didn't consider some one walking away from a luxury TS they go scammed into buying vs house where they lived in, same ball park!

Being from "over the hill gang" I do believe if one cannot afford it they do without or get a second job. Since my idols, Johnny Cash, Porter Wagoner, Kitty Wells have demised will just have to rough it at Mardi Gras this next fews days.

If no more posts, I went out with a smile on my face, cold Corona in each hand, lots of beads and a pocket full of blue pills!
 

RX8

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If this was indeed Westgate that sold you the timeshare are they not still considered a developer? Someone had posted this previously:

The law states:
NRS 119A.170 Applicability of this chapter and chapter 645 of NRS.
1. The provisions of this chapter, except subsection 4, do not apply to:
(a) The sale of 12 or fewer time shares in a project or the sale of 12 or fewer time shares in the same subdivision;
(b) The sale or transfer of a time share by an owner who is NOT the developer, unless the time share is sold in the ordinary course of business of that owner;
(c) Any transfer of a time share:
(1) By deed in lieu of foreclosure;
(2) At a foreclosure sale; or
(3) By the resale of a time share that has been acquired by an Association by deed in lieu of foreclosure or at a foreclosure sale;


I am not convinced that a "foreclosure" sold by a developer would be exempt from rescission rights.

A moderator posted in another thread the contact info for the state of Nevada:

Timeshares Real Estate, Division
702-486-4033 or
775-687-4280
It is from this Nevada website. They should be able to tell you your rescission
rights for a transaction of this type.

Finally, a poster in that same thread DID call that number and was told this:

I finally got hold of Nevada Real Estate divisions. They said Nevada resales don't have cancellation option. The deals are completed then and there. The rescission applies to timeshare purchases from Developers only. So I can not cancel it.

So, if this WAS a developer sale I suggest calling that Nevada number and see what they say. It appears that these "foreclosure" resales have found a loophole in the law and unsuspecting people are taking the bait and getting stuck with a worthless timeshare that they do not want. That loophole needs to be closed.
 

timeos2

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Granted, the TS in question has little to no value, but if it boils down to pay it off or wreck the OP's credit for many years, paying it off MAY be the lesser evil. It's worth examining the potential ramifications of defaulting. I don't know what that might be. DO YOU?
It is a pretty good guess that since this is some type of resale, to an out of the country resident, from an industry known for deceptive pressure sales isn't going to do much - if any - harm to any ones credit. Let the scum that sold them this pack of lies try to defend the price they are demanding. It's also a good bet that they don't even try to collect.

Yes, there is a small risk of a credit ding but little more. If they are really nervous ask a local attorney for a quick opinion. The only thing I wouldn't do is follow up with even one more payment and I'd do everything possible to undo what they already have in hand.
 

PrairieGirl

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my 2 cents worth

But since I live in Canada, my 2 cents aren't worth anything any more......

However, I'll give you a bit of info on how the credit bureau has worked in my case. I've lived in Canada for 26 years but retained my US citizenship. I have both a SIN and a SSN.

I have credit cards issued by banks in both countries. ONLY my Canadian credit history shows on a CB pulled in Canada and ONLY my US credit history shows on a CB pulled in the States. I had to struggle to get my first US credit card because I had no US credit record (been gone too long) and was told by the bank that they cannot and will not take any Canadian credit history into account. (I was only successful because I used to work at the bank I finally talked into giving me a Visa, ah, but once you have one......) I'm a banker in Canada and have never seen any type of foreign reporter on a Canadian credit report.

Can't say for sure that a walk away won't impact your Beacon (Canadian equivilent to a FICO score), but given my results it seems highly unlikely. Again, I'm not giving you any advice, only sharing factual information about what I have actually seen.

Best of luck!
 
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Trudyt623

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Would'nt Hilton be better?

Hi . Was hoping someone can help me before its too late.

On this past Friday my wife and I were in Las Vegas. We got approached and of course went in on a 90 minute presentation on a timeshare for the planet Hollywood towers.

Needless to say we bought into it. Prior to our leaving vegas we went to the planet Hollywood casino and asked where the towers were. Well long story short the planet Hollywood towers we timeshares for is now the Hilton grand vacation !!

That put a raw feeling in our stomachs so when we got home yesterday we decided we would begin our decision to rescind, only to find out or been informed that because it was a foreclosure or 'loan assumption' there is no rescind period and we are stuck with it!!

Does anyone know if this is true or what steps we can pursue if any?

We have faxed in a notice to rescind already as this is day 5, and the last day according to Nevada law.

We are from Canada so was hoping someone can help , please??
Pardon my ignorance, but wound'nt Hilton owning this property be a good thing? Hilton is a very solid company and should provide better exchanges I would think.
 

thomtaylor

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Right of recission is under the Federal Trade Commission, as I recall -- not guided by the state law; but double-check on that. Regardless you should talk with a lawyer right away. Also have the Visa dispute department reverse the charge & all future charges. They will work it out for you, and decide whether or not the charge is valid.
 

Rent_Share

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Pardon my ignorance, but wound'nt Hilton owning this property be a good thing? Hilton is a very solid company and should provide better exchanges I would think.
Although in the Same Building PH Westgate is NOT a Hilton Timeshare
 

Quadmaniac

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Hi John and thanks to all the replied.

John we put down 1700.00 on visa for down payment and they will proceed to take 286 monthly beginning in march.

We thought this was a perfect opportunity to get away every year , but again as we really looked closely we noticed it was every 2nd year we get our week plus according to the paperwork 6 extra weeks. I call that a hoax as in fact that exact ' 6 extra weeks was written on the 'estimate' sheet I like to call it , it infact was not in the contract.

It seems the only saving grace we may have is with our credit company to just tell them we were told false information and continue forward. If that doesn't work then I guess we are SOL .
Visa is usually very good about these things and are always in it to protect the credit card holder. Cancel the charge and call the company telling them you are cancelling the contract based on fraud. Not much they can do about it to enforce it especially with being in Canada.
 

timeos2

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Here is the reply Wastegate sends out regarding these "resales", or "loan assumptions", they are apparently pawning off on unsuspecting Las Vegas visitors. You can also assume that they do nothing to try to make make it clear that what is being pushed is NOT Hilton (although the building has been rebranded as such) and that different rule apply (at least in their alleged minds) to resales/loan assumption (being pushed as a "great deal" I'm sure) vs a "new" timeshare purchase and the applicable rescind rights those carry. This is the reply they use:

10/01/2012

Re: Mr. ****** ******
Case # XXXXXXXX / Account # XXXXXXXXXX / Issue # XXXXXXX

Dear Mr. *******,

Westgate Resorts is in receipt of your correspondence regarding Mr. ******'s complaint. We appreciate the opportunity to respond.

Please be advised, upon receipt of Mr. ******'s request for cancellation of the Planet Hollywood Loan Assumption, Westgate was in communication with the consumer regarding this matter. The consumer was advised that his request was reviewed once again, and Westgate's position remains unchanged. The Loan Assumption is not subject to, or expresses a right of, cancellation. Therefore, his request for cancellation is respectfully denied.

You may consider this Westgate's response regarding this matter. Westgate considers this matter reviewed, researched, and addressed. Any further inquiries will be met with the same response.

Respectfully,

****** ******
Account Manager
Owner Relations Correspondence


Things only get worse when Wastegate is involved in any way. STAY AWAY FROM ANY WASTEGATE RESORT!!! (or anything ever remotely associated with them).
 

pacodemountainside

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John:

Did you happen to run across since these are "loan assumptions" I assume on foreclosures vs resales of paid off units do they carry original purchaser reservation rights?
 

pal

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Those are pretty nice properties. I own Hilton and LOVE it. I hope it works for you.:eek:
 

garyk01

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Hi John and thanks to all the replied.

John we put down 1700.00 on visa for down payment and they will proceed to take 286 monthly beginning in march.

We thought this was a perfect opportunity to get away every year , but again as we really looked closely we noticed it was every 2nd year we get our week plus according to the paperwork 6 extra weeks. I call that a hoax as in fact that exact ' 6 extra weeks was written on the 'estimate' sheet I like to call it , it infact was not in the contract.

It seems the only saving grace we may have is with our credit company to just tell them we were told false information and continue forward. If that doesn't work then I guess we are SOL .
I would call Visa and point out the difference in the contract, the six weeks part, say you were lied to and when you signed it you were drunk . you can not make a legal contract as far as i know if your intoxicated, lots of free drinks in Vegas. do not pay that $1700 deposit for the timeshare when you were told false things right from the start.
 

Jason n ross

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Well I have great news. Perhaps because we don't live in the US but we were refunded our full deposit on our credit card !!! Even though it was a loan assumption apparently with no recission period we plowed through and sent out letter within 5 days and there we go!! Westgate gave us our money back and we are out of our nightmare!! Thank you to all who responded and tried to help!! Good luck to all!!!
 

timeos2

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Well I have great news. Perhaps because we don't live in the US but we were refunded our full deposit on our credit card !!! Even though it was a loan assumption apparently with no recission period we plowed through and sent out letter within 5 days and there we go!! Westgate gave us our money back and we are out of our nightmare!! Thank you to all who responded and tried to help!! Good luck to all!!!
What a wonderful report! :p Makes a nice morning read here on TUG!

It is too bad so many don't turn out this way as the buyers have waited too long or passed the relatively short window to get out of a very bad purchase. You found us - got the information - weren't afraid to act and now are free from THE worst timeshare operation in the US in Wastegate. You've earned a big "attaboy" and a nice dinner to treat yourselves. You really dodged a bullet. Congratulations and enjoy. Stay away from timeshare presentations. You can get really great buys on resales from other owners if you ever care to try again.

Thanks again for the update.
 

Rent_Share

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Those are pretty nice properties. I own Hilton and LOVE it. I hope it works for you.:eek:

Again a Westgate Plant Hollywood resale comes with no benefits from Hilton. It is a timeshare in the Westgate System located in a building sold to Hilton in Banruptcy Court
 
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