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Need Help Rescinding Holiday Inn Club Vacations Time Share

Passepartout

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My wife and I went involved in this matter and bought at Holiday Inn Club Vacation in timeshare. After buying in April 2019 then several months passed to activate our account until debiting payments amounting to 4,500 dollars. But after activating the account I have tried to use but we had this deception we realize that what they sold to us at the moment does not work.

Now we can't make a reservation at national hotels in the Dominican Republic we can't book outside our conuntry because there is never availability. We want to end the contract and we would like to know what is the best way to end this deception so as not to pay something that we will never be able to use because we are in the Caribbean.

We would like to cancel this contract , this is a hoax and we were scammed....
If you simply stop paying, you won't get any of the money back that you have already paid, but it's VERY doubtful that any collection or 'bad credit' report would follow you to where you live. You'll probably get threatening letters, but I don't think they have any 'teeth'.

Good Luck!

Jim
 

Muñoz

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If you simply stop paying, you won't get any of the money back that you have already paid, but it's VERY doubtful that any collection or 'bad credit' report would follow you to where you live. You'll probably get threatening letters, but I don't think they have any 'teeth'.

Good Luck!

Jim
Ok we prefered lost the money in this case and we aren't going to pay for something that we never will use because it isn't a real vacation program.
 

Passepartout

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Ok we prefered lost the money in this case and we aren't going to pay for something that we never will use because it isn't a real vacation program.
It's a real vacation program, but it appears that it's not your type of vacation program. They should have recognized that and not sold it to you, but you can't tell that to a commissioned salesperson. Best Wishes!

Jim
 

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Hi there,

I'm new to tugbbs but I've read a few of the forums here. I need a bit of clarification that would be much appreciated.
I signed up not realizing how expensive it would be for 2 vacations per year. I have 100,000 points with Holiday Inn Vacation Club and realized that it entitles us to 2-2.5 vacation days PER YEAR. When originally signing up, we were misled to think the 40,000 points were for the full period of the vacation week and not 40,000 points per NIGHT at the hotels. We want to cancel our timeshare, however, I'm not sure if we are eligible for a rescission simply because although we just made the last payment for the deposit 3 days ago, we signed the contracts back in October when we originally signed up. Is there a way to cancel this timeshare as we cannot afford to keep it, it will cost us 3-4 times our regular vacation funds each year. I'd love to get some or all of our funds back but don't think I'll be so lucky. However, what are my options at this point? Despite it being a legal contract, can we write a letter to cancel and that seal the deal?

Thanks for the help!
 

Grammarhero

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Hi there,

I'm new to tugbbs but I've read a few of the forums here. I need a bit of clarification that would be much appreciated.
I signed up not realizing how expensive it would be for 2 vacations per year. I have 100,000 points with Holiday Inn Vacation Club and realized that it entitles us to 2-2.5 vacation days PER YEAR. When originally signing up, we were misled to think the 40,000 points were for the full period of the vacation week and not 40,000 points per NIGHT at the hotels. We want to cancel our timeshare, however, I'm not sure if we are eligible for a rescission simply because although we just made the last payment for the deposit 3 days ago, we signed the contracts back in October when we originally signed up. Is there a way to cancel this timeshare as we cannot afford to keep it, it will cost us 3-4 times our regular vacation funds each year. I'd love to get some or all of our funds back but don't think I'll be so lucky. However, what are my options at this point? Despite it being a legal contract, can we write a letter to cancel and that seal the deal?

Thanks for the help!
You’re out of luck to cancel. Maybe if you paid off, you can learn how to use your TS and get maybe one week a year as long as you don’t book prime season. Where is your TS located?
 

BahamasLady

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You’re out of luck to cancel. Maybe if you paid off, you can learn how to use your TS and get maybe one week a year as long as you don’t book prime season. Where is your TS located?
We signed up in Florida at Orange Lake but they have on the contract, MO. I think that's where their office is? I'm not sure. Can we not cancel by paying a fee and wash our hands off of it? I am not worried about losing the deposit, I just don't want to pay anymore into this. When I look at the minimum points usage is 20,000/night which is at a resort we do NOT wish to stay at, that gives 5 days per year. We would have to buy an additional 150,000 points to make the vacation what we want each year (totals to about an additional $2025.00 for the additional points). Spending a regular monthly fee of $400 ($4800/yr) PLUS $2025.00....a total of $6825.00 for 1 week (7 days) at a resort ONCE per year is nowhere near worth it.
 

Grammarhero

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We signed up in Florida at Orange Lake but they have on the contract, MO. I think that's where their office is? I'm not sure. Can we not cancel by paying a fee and wash our hands off of it? I am not worried about losing the deposit, I just don't want to pay anymore into this. When I look at the minimum points usage is 20,000/night which is at a resort we do NOT wish to stay at, that gives 5 days per year. We would have to buy an additional 150,000 points to make the vacation what we want each year (totals to about an additional $2025.00 for the additional points). Spending a regular monthly fee of $400 ($4800/yr) PLUS $2025.00....a total of $6825.00 for 1 week (7 days) at a resort ONCE per year is nowhere near worth it.
Except for Holiday Inn itself, Any company in which you have to pay a fee to exit is a scam.

If your TS deeded in FL? TS owners defaulting FL TS can’t be sued for the deficiency balance, as long as they don’t object to the non-judicial foreclosure.

Out of 13 TS mortgage defaults as reported on TUG, 7 got their credit affected, ranging from 50 to 150 points. If you choose to default, please kindly let me know if your credit got affected. It would help tuggers moving forward.

best of luck!
 

BahamasLady

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Except for Holiday Inn itself, Any company in which you have to pay a fee to exit is a scam.

If your TS deeded in FL? TS owners defaulting FL TS can’t be sued for the deficiency balance, as long as they don’t object to the non-judicial foreclosure.

Out of 13 TS mortgage defaults as reported on TUG, 7 got their credit affected, ranging from 50 to 150 points. If you choose to default, please kindly let me know if your credit got affected. It would help tuggers moving forward.

best of luck!
A note to mention though, I am not an American, therefore, I don't think we actually have a credit score Lol. With foreclosing, does that mean to simply stop paying? What if my credit card is on file for processing each month? Also, my account (online) hasn't been activated yet. I don't get my official owners card for another 1-2 months.
 
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Grammarhero

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A note to mention though, I am not an American, therefore, I don't think we actually have a credit score Lol. With foreclosing, does that mean to simply stop paying? What if my credit card is on file for processing each month? Also, my account (online) hasn't been activated yet. I don't get my official owners card for another 1-2 months.
Foreclosing means stop paying. Have you considered changing your credit card number? Have you also called holiday inn saying you can’t pay anymore?
 

BahamasLady

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Foreclosing means stop paying. Have you considered changing your credit card number? Have you also called holiday inn saying you can’t pay anymore?
Here's a question, we don't receive the deed or title or activated as owners until the last deposit payment goes through and they send it all in the mail right?

Perhaps because we haven't been activated yet, we can still cancel?
 

Grammarhero

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Here's a question, we don't receive the deed or title or activated as owners until the last deposit payment goes through and they send it all in the mail right?

Perhaps because we haven't been activated yet, we can still cancel?
No, that is incorrect. Cancellation depends on TS contract signature date, not deposit completion.

One of your options is simply to stop making payments.
 

BahamasLady

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No, that is incorrect. Cancellation depends on TS contract signature date, not deposit completion.

One of your options is simply to stop making payments.
Stopping payments to HIVC but what about the loan/mortgage portion?
 

Grammarhero

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Stopping payments to HIVC but what about the loan/mortgage portion?
Your option is to foreclose that loan/mortgage too. You have no good options, now that the rescission period ended.
 

Grammarhero

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Stopping payments to HIVC but what about the loan/mortgage portion?
@BahamasLady We hope you are well. If you made the hard decision to default on your timeshare, would you kindly let us know if your credit got affected? It would help other tuggers in similar situations.
 
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