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

[Maeris]

Hi , i really desperately need help, we bought a HGV vlub vacation in Vegas on october 24th we get lured into presentation. We get very tempted with all the promises. When we come back home , on november the 8th we just realize what we get our self into . Its far from what they promised. We miss the recession time which 5 day after the 24th of october which also they not mention when the sales rep selling us the product. Mind you we live in Canada. We don’t pay any installment yet we only put down payment as $1339 USD and we have loan for $12,000USD they give us until december the 8th for option to pay in full. We are really regretting what we get our self into . False promises , lack of resort time and option. We don’t know how to get out. On November 8th i send the email to all HGV email i could found for cancellation . No one is replying . Its extremely hard to get to phone with them. What are my options here. What happen if we just not paying and our timeshare goes to default or should i try to dispute our debt and send it to HGV US collection orlando office ? Should we pay all the loan and tranfer/transition and we will never use it what are the best options we have here ? I really need your advice please and thank you

 

[TUGBrian]

Unfortunately given that your legal rescission period has passed there really is no valid option to cancel your contract at this point.

you can make an effort to become a squeaky wheel and constantly demand they let you out of your contract (works better on social media etc) but thats a rather low chance of success...just not zero. this strategy has a much higher chance of success if you can detail who/when/why/where/how you were misled or lied to....vs simply having buyers remorse aa month later.

the other option is to stop paying though that comes with the expected possible negative ramifications of defaulting on the loan etc.

 

[WorldT]

Confirming what is said above. There is no way to get out other than defaulting on the loan.
Complaining has a very low probability of success.
So if you do decide to default, make sure you shut off the tap (close the cards, block the merchant).
You can contest your down payment with the card company if you used a card but you have to show prove that there was fraud, you were deceived or the product sold wasn't what was stated. It is a long shot but you don't have anything to lose by disputing the charge. Do not keep the card open during the dispute to avoid further charges.
Finally, under no circumstances should you pay anything to anyone who promises to help you "get out/cancel" of your timeshare. Any more money paid is gone too.

 

[Maeris]

If my account go to default is it will automatically closed and maintenance fee will be removed as well ? Is anyone know if Hilton can pursue a legal law suit against us if we live in Canada? Should I send letter to hgv us collection for defaulting loan or should I wait for the loan appear in our credit report and default from credit bureaus?

 

[WorldT]

If my account go to default is it will automatically closed and maintenance fee will be removed as well ? Is anyone know if Hilton can pursue a legal law suit against us if we live in Canada? Should I send letter to hgv us collection for defaulting loan or should I wait for the loan appear in our credit report and default from credit bureaus?

TUG has been trying to keep a log on credit effect using data voluntarily provided. Here is the link. There is a line about Canadian residents.

[ 2022 ] Timeshare Default Credit Report/Collection Tracking

Some of you know I have been tracking this. Out of four (4) more TS defaults reported on TUG Facebook, one (1) got his credit affected. I have tabbed the following stats(updated 5/2022): TS defaults w credit drops: 47 out of 107 TS defaults w collections: 12 out of 107 TS defaults w...

tugbbs.com

 

[Maeris]

Thank you. Is anyone know if my account with hgv max goes default and they terminate my account is the club dues and maintenance fee still up?

 

[Passepartout]

Thank you. Is anyone know if my account with hgv max goes default and they terminate my account is the club dues and maintenance fee still up?

This is not legal advice, but my understanding is that if you simply quit paying. close any accounts they may have access to, being Canadian, you're not subject to US Fair Credit Reporting rules, and it's unlikely they can affect your Canadian credit report. You'll be out the money you paid so far, but for something you won't use in what for you is a foreign country, it's understandable. But I'm curious as to why you'd even go to a sales meeting if there was nothing you'd use or were interested in for sale? Sure, they offered you discounted shows or some gift cards, but did you think there was no payback they were expecting? And were you just too busy on holiday to look at the papers you signed on what you bought? One has to assume you are over 21 and responsible for what contracts you enter into. It's for this reason that entities like timeshare (and jewelry) companies are subject to these rescission laws.

Good Luck. You will get calls and letters- some barely disguised threats. But you can require all correspondence be via USPS, and not harassing phone calls. You MUST do that in writing.

You should have visited us on Oct 25th. Sorry.

Jim

 

[Maeris]

Thank you jim , yes we are very tempted with discounted and it our first time in vegas so we thought it was our lucky day , we thought about it must be catch behind it and we went to the resort attending 4 hours presentation that in the end we mentally exhausted plus the way sales rep bring it up and explain it to us make us more tempted. We are tourist and very unfamiliar with timeshare. This is very hard lesson to both of us. And because we not familiar with local laws we did not even know that was recession period in which they also did not mention anything they just give us a public offering and tell us to sign

 

[Maeris]

This is not legal advice, but my understanding is that if you simply quit paying. close any accounts they may have access to, being Canadian, you're not subject to US Fair Credit Reporting rules, and it's unlikely they can affect your Canadian credit report. You'll be out the money you paid so far, but for something you won't use in what for you is a foreign country, it's understandable. But I'm curious as to why you'd even go to a sales meeting if there was nothing you'd use or were interested in for sale? Sure, they offered you discounted shows or some gift cards, but did you think there was no payback they were expecting? And were you just too busy on holiday to look at the papers you signed on what you bought? One has to assume you are over 21 and responsible for what contracts you enter into. It's for this reason that entities like timeshare (and jewelry) companies are subject to these rescission laws.

Good Luck. You will get calls and letters- some barely disguised threats. But you can require all correspondence be via USPS, and not harassing phone calls. You MUST do that in writing.

You should have visited us on Oct 25th. Sorry.

Jim

 

[Maeris]

Thank you jim , yes we are very tempted with discounted and it our first time in vegas so we thought it was our lucky day , we thought about it must be catch behind it and we went to the resort attending 4 hours presentation that in the end we mentally exhausted plus the way sales rep bring it up and explain it to us make us more tempted. We are tourist and very unfamiliar with timeshare. This is very hard lesson to both of us. And because we not familiar with local laws we did not even know that was recession period in which they also did not mention anything they just give us a public offering and tell us to sign
We did also call equifax canada see if they do hard inquiries on our credit turn out yes they did this is what make us more concern as my understanding if they do hard inquiries mean they also can put mark on our credit as default loan . Do you have any thoughts about this ?

 

[Passepartout]

Do you have any thoughts about this ?

My thoughts on this are that you simply bought something and now find out you have to pay for it. You had the opportunity to get out of the purchase, and didn't do it. I'm REALLY sorry. At this stage, there is NO painless way out. You can buckle down and pay it off, and either decide to use it or sell it, or you can default (stop paying) and take the consequences.

 

[Maeris]

My thoughts on this are that you simply bought something and now find out you have to pay for it. You had the opportunity to get out of the purchase, and didn't do it. I'm REALLY sorry. At this stage, there is NO painless way out. You can buckle down and pay it off, and either decide to use it or sell it, or you can default (stop paying) and take the consequences.

If i decide to sell it do you think it hold any resale value on it ? Or if i transfer it back to hilton do you think it easier process ? The sad part is we if we go this way with canadian dollar we look at spending 16,000$ for something we don’t even use and we are not someone that loaded with money

 

[Passepartout]

If i decide to sell it do you think it hold any resale value on it ? Or if i transfer it back to hilton do you think it easier process ? The sad part is we if we go this way with canadian dollar we look at spending 16,000$ for something we don’t even use and we are not someone that loaded with money

Nope. Timeshares are worth pennies on the dollar at resale. Sorry. You could've bought what you bought at resale for pocket change. That's why we say here on TUG, "Buy Resale, $ave Thou$and$". That's the advice you'd have gotten if you had dropped in here before you went to Las Vegas.

 

[LannyPC]

What was the original purchase price? how much have you paid so far? And how much do you still owe?

 

[Maeris]

What was the original purchase price? how much have you paid so far? And how much do you still owe?

Original purchase price was around 12,900 , deposit 1335$ unpaid balance $12,016 with finance closing cost

 

[Patri]

Send rescission letter anyway. Then stop paying. Make sure they don’t have your credit card info to keep collecting. Don’t answer phone. Regardless of what Equifax said, doesn’t mean resort will report you. Do not let any other organizations help you get rid of the timeshare. They are all scammers.
Otherwise, follow through on the contract. Visit timeshares in Canada and elsewhere. But know, years from now when you want to stop timesharing, you will have to give it away.

 

[Maeris]

Is it okay to send it right now ? i mean nevada state have 5 days of recession latter or i need to send dispute letter to the loan and send it to hgv ? Which one is better ?

 

[jwalk03]

Is it okay to send it right now ? i mean nevada state have 5 days of recession latter or i need to send dispute letter to the loan and send it to hgv ? Which one is better ?

You can still send it, but they do not have to approve the recession. Its very unlikely that they will.

You really have 2 choices here:
1- Pay off what you owe as quickly as possible to reduce the amount of additional interest and learn to use the product to the fullest so you squeeze out some value.
2- Stop paying and default on the loan. As mentioned it is unlikely to affect your credit score in Canada. They will send it to collections and try to hound you for a while, but will give up eventually if you don't pay them another dime.

DO NOT under any circumstances fall for one of the timeshare exit company scams! They will just take more of your money by preying on your desperation, and will not help you.

 

[iftravel]

Hi , i really desperately need help, we bought a HGV vlub vacation in Vegas on october 24th we get lured into presentation. We get very tempted with all the promises. When we come back home , on november the 8th we just realize what we get our self into . Its far from what they promised. We miss the recession time which 5 day after the 24th of october which also they not mention when the sales rep selling us the product. Mind you we live in Canada. We don’t pay any installment yet we only put down payment as $1339 USD and we have loan for $12,000USD they give us until december the 8th for option to pay in full. We are really regretting what we get our self into . False promises , lack of resort time and option. We don’t know how to get out. On November 8th i send the email to all HGV email i could found for cancellation . No one is replying . Its extremely hard to get to phone with them. What are my options here. What happen if we just not paying and our timeshare goes to default or should i try to dispute our debt and send it to HGV US collection orlando office ? Should we pay all the loan and tranfer/transition and we will never use it what are the best options we have here ? I really need your advice please and thank you

Is it closed yet? If not (see if you can find any closing process information in the document, December 8 might be the closing date since they allow you to pay in full and close the deal), you are in a much better situation than most who are past this important date. Simply rescind / cancel / do not cooperate on the closing process so you don’t sink deeper and will be on hook for maintenance fee for life. Before it’s officially closed and your name recorded on deed, you are just breaching the contract, after that, you own a piece of timeshare obligation that is even harder to rid. They might return the deposit but they might not. Consider your deposit gone and it’s actually much cheaper and easier than most people who later want to get rid of their ownership.

One more thing to add, if it’s not closed, you don’t owe the loan yet. The deposit you paid is just to secure the contract. Hope you good luck in that.

 

[Soccer Canada]

I would agree with what Passepartout says with regards to affecting Canadian Credit Report. It would be very difficult for them to be able to hit your credit report with something that is filed internationally. Also agree with what iftravel says, send the recission letter anyways, you never know. Being a pain in the rear can sometimes yield results. Your deposit is likely gone. If you paid it with a Canadian Credit Card there is a very small chance you could win in a chargeback which makes sending a recission letter even more important, you could argue with the Credit Card that closing is on December 8th and you cancelled within the contractual terms. Again unlikely but low time cost to a potentially high reward.
If you do end up getting debt collection calls, know your rights in Canada, again, unlikely they can find a legal avenue to collect, but they still have to follow the Canadian rules if they try.

Debt collection: know your rights - Canada.ca

What debt collectors must inform you of and are not allowed to do.

www.canada.ca

 

[vail]

The advice to pay off the loan and learn to use it?
Ridiculous.

If you do not pay they cannot male you.

What did you actually purchase?

 

[TUGBrian]

The advice to pay off the loan and learn to use it?
Ridiculous.

its not a good option, but its an option.

sadly once the rescission period has ended there are only different flavors of bad options available.

 

[Maeris]

Is it closed yet? If not (see if you can find any closing process information in the document, December 8 might be the closing date since they allow you to pay in full and close the deal), you are in a much better situation than most who are past this important date. Simply rescind / cancel / do not cooperate on the closing process so you don’t sink deeper and will be on hook for maintenance fee for life. Before it’s officially closed and your name recorded on deed, you are just breaching the contract, after that, you own a piece of timeshare obligation that is even harder to rid. They might return the deposit but they might not. Consider your deposit gone and it’s actually much cheaper and easier than most people who later want to get rid of their ownership.

One more thing to add, if it’s not closed, you don’t owe the loan yet. The deposit you paid is just to secure the contract. Hope you good luck in that.

to be honest i don’t know i believe it said club activation will occur in approximately 30-45 days, provide your contract is closed. The recession date i passed it . Its on 29th of oct. this is also i can show some of the agreement in contract perhaps someone can help me to translate it to a easier english?
Also i call hilton i said i want to cancle they told me to pay the loan first i just don’t understand if i’m still in transition of cancellation

 

[iftravel]

to be honest i don’t know i believe it said club activation will occur in approximately 30-45 days, provide your contract is closed. The recession date i passed it . Its on 29th of oct. this is also i can show some of the agreement in contract perhaps someone can help me to translate it to a easier english?
Also i call hilton i said i want to cancle they told me to pay the loan first i just don’t understand if i’m still in transition of cancellation

Read the closing part very carefully! Do not cooperate to close it (like sign additional loan document, pay off the loan etc) and in one year if they cannot close, they are obligated to refund you. See also if you can contact the escrow company to cancel the transfer.

 

[Maeris]

Read the closing part very carefully! Do not cooperate to close it (like sign additional loan document, pay off the loan etc) and in one year if they cannot close, they are obligated to refund you. See also if you can contact the escrow company to cancel the transfer.

Do you think they will send extra document for closing ? Or automatically after recession end they close it on their end ?