Need to get out of Vacation Village at Parkway Timeshare

[Kevin Cumberland]

I purchased a time share from Vacation Village back in May of this year and am having serious regrets now. After I did the math, I see that's it just not worth it. About $200/month plus annual maintenance. I know its hard to get out of timeshares and would love any advice you can give me. I dont really know where to start besides just calling one of the main numbers and telling them. I just know it's not going to be an easy time. Also is worth contacting companies that will get me out of the timeshare for a fee?

Thanks

 

[Passepartout]

I purchased a time share from Vacation Village back in May of this year and am having serious regrets now. After I did the math, I see that's it just not worth it. About $200/month plus annual maintenance. I know its hard to get out of timeshares and would love any advice you can give me. I dont really know where to start besides just calling one of the main numbers and telling them. I just know it's not going to be an easy time. Also is worth contacting companies that will get me out of the timeshare for a fee?

First, we're sorry we didn't get to have this conversation back in May. Second, I'm afraid you're sunk. You had 10 or so days to study and decide if TS is for you. After that time expires, you own it. You are committed. Stay far-far away from those TS exit companies. They have no magic words to make this obligation go away. All they will do is relieve you of even more of your money.

If it helps you feel better, know that about half of us came to be timeshare owners in exactly the way you did. We've learned how to use them to give our families many, many great vacations. The memories ae priceless. Sure, you paid more than you might have on the resale market, but that's water under the bridge. You can't get it back.

Now, if this expense- or other financial everses of fortune truly put you and your family at financial ruin, a bankruptcy can discharge this, but I have a hunch this is not the case. You just overpaid. We've all done it. Buckle down. Pay it off. Stick around TUG. Learn to use it.

Welcome to TUG. We wish you well.

Jim

PS- I should tell you that after it's paid off, you can sell it, give it away or possibly deed it back to the developer. But as long as there is a mortgage, you're stuck with it.

 

[Kevin Cumberland]

ok, thanks for the quick response. I was hoping I could just get out of it but I guess no such luck. I did see the service https://timeshareexitteam.com/ and saw it was endorsed by David Ramsey and even has a 100% money back guarantee so I thought it may be worth looking into

 

[rickandcindy23]

I purchased a time share from Vacation Village back in May of this year and am having serious regrets now. After I did the math, I see that's it just not worth it. About $200/month plus annual maintenance. I know its hard to get out of timeshares and would love any advice you can give me. I dont really know where to start besides just calling one of the main numbers and telling them. I just know it's not going to be an easy time. Also is worth contacting companies that will get me out of the timeshare for a fee?

Thanks

The companies that get you out of a timeshare are not going to guarantee anything, unfortunately, especially with a mortgage owed on that thing. If you don't have any big purchases in your plans for the next few years, you can always default on the mortgage and just force the company to give up on it. But if you plan to buy a house, don't walk away because your credit will be hurt by a default.

 

[Kevin Cumberland]

Yeah, I dont want to default on it. I'm not willing to take on the credit hit so I guess I'll just keep paying on it. It really wouldnt be that bad if it wasnt for the annual fee but such is life. I'm glad I found this resource. Also do you think it would be worth trying to rent it out to recoup costs or am I better just to keep doing as is?

Thanks

 

[TheTimeTraveler]

Yeah, I dont want to default on it. I'm not willing to take on the credit hit so I guess I'll just keep paying on it. It really wouldnt be that bad if it wasnt for the annual fee but such is life. I'm glad I found this resource. Also do you think it would be worth trying to rent it out to recoup costs or am I better just to keep doing as is?

Thanks

First off; Welcome to TUG.

I assume you bought it to use it yourself; if you don't plan to use it yourself then it does make sense to rent it out and generate some income to offset your expenses.

Since you really no longer want it the best advice I can give you is to get it paid off and then try and sell it. You will never get what you paid for it but at least you'll be able to get away from those annual maintenance fees.

Remember; you will not be able to sell it until you own it free and clear.

Best of luck and keep all of us posted.




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[bnoble]

You are better off using it; Orlando is a tough rental market, because you are competing with a huge glut of name-brand timeshares (Marriott, Sheraton, Hilton, and Disney).

If you are enrolled in RCI Points, VV@P turns out to be a pretty good deal there, as are most of the Vacation Village resorts IIRC. You can't use it to trade back into Disney, but it can be a good trader for other places.