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Timeshare Scam

uchristine28

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Jan 20, 2024
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Resorts Owned
Krystal Cancun
We bought a timeshare in Krystal Cancun Mexico on Sept 2021 because it was presented as an investment at the time. 2 years later, we haven’t received anything in return. We already paid $7,000 including deposit. We still have owe another $7,000. They signed us up with GTS global to rent our weeks. I have emailed Global for months since August 2023 and attempted to call but no response. I stopped all payments because of this. I contacted Krystal directly and told them the situation but they said Global is a separate service. I want out of this. I stopped payments for 3 months and now, they are threatening me that they will send it to collections and my my credit will be affected. Is this true? Will it really affect my credit score if I stop my payments? I don’t want to keep paying another $7,000 for nothing in return, we’re not even using the timeshare.

What is the best option for this situation? Please help!!
 

geist1223

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Worldmark 97,000 Credits
DRI Cabo Azul 50,500
Royal Solaris San Jose del Cabo
It does not sound like you have ever traveled to the timeshare.
 

Passepartout

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We bought a timeshare in Krystal Cancun Mexico on Sept 2021 because it was presented as an investment at the time. 2 years later, we haven’t received anything in return. We already paid $7,000 including deposit. We still have owe another $7,000. They signed us up with GTS global to rent our weeks. I have emailed Global for months since August 2023 and attempted to call but no response. I stopped all payments because of this. I contacted Krystal directly and told them the situation but they said Global is a separate service. I want out of this. I stopped payments for 3 months and now, they are threatening me that they will send it to collections and my my credit will be affected. Is this true? Will it really affect my credit score if I stop my payments? I don’t want to keep paying another $7,000 for nothing in return, we’re not even using the timeshare.

What is the best option for this situation? Please help!!
Sorry that this happened to you. Here's the unvarnished truth. NO timeshare is an 'investment'. If they were, why would developers sell intervals to unsuspecting tourists? They'd rent them themself.

Sounds like you already made the decision to stop making the payments. You will get thinly veiled threats, but the only weapon they have is to cancel your membership. There are a few Mexican TSs that have deeded property. I doubt yours is one. Don't lose any sleep over their threat to your credit report. It won't happen. And if it should, you have the right to put a mitigating letter in your credit report. No one inquiring on your credit worthiness is going to hold defaulting a Mexican TS against you.

Sorry you waited so long to make yourself known to us. If we'd known you back in Sept 2021, we could've saved you the first $7,000, not just the second $7,000.

Jim
 

uchristine28

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Jan 20, 2024
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Resorts Owned
Krystal Cancun
It does not sound like you have ever traveled to the timeshare.
No. We’ve never stayed there since they part of the contract was staying there for 7 nights and we normally only go Cancun for 5 nights.
 

uchristine28

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Krystal Cancun
Sorry that this happened to you. Here's the unvarnished truth. NO timeshare is an 'investment'. If they were, why would developers sell intervals to unsuspecting tourists? They'd rent them themself.

Sounds like you already made the decision to stop making the payments. You will get thinly veiled threats, but the only weapon they have is to cancel your membership. There are a few Mexican TSs that have deeded property. I doubt yours is one. Don't lose any sleep over their threat to your credit report. It won't happen. And if it should, you have the right to put a mitigating letter in your credit report. No one inquiring on your credit worthiness is going to hold defaulting a Mexican TS against you.

Sorry you waited so long to make yourself known to us. If we'd known you back in Sept 2021, we could've saved you the first $7,000, not just the second $7,000.

Jim
Yeah, I realized that last year. I wished I did my research before signing anything.

I was debating between paying my 3 months and continuing with it since they kept saying it will go into collections. And I’m worried they will garnish my salary for the full amount ($7,000) + penalty if that happens. It’s their “financial consultant” that’s been calling/emailing me and she’s from Miami, that’s why I was worried about my credit since the person calling is based on USA.
I also tried to cancel the membership but I was told I had to pay $5300 in full amount to be able to cancel it. It’s honestly been stressing me out.
 

Passepartout

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Yeah, I realized that last year. I wished I did my research before signing anything.

I’m worried they will garnish my salary for the full amount ($7,000) + penalty
This isn't EVER going to happen. First, they would have to prove that you bought something with REAL value. (A deed) then get a US court to issue a suit of judgement against you. Then go after assets you might have.

The fact that this collection (might) be US based is not relevant.

To help you sleep better, have a letter drafted to them that demands that they show you the evidence they have that you actually owe this debt. Demand that ALL correspondence in this matter be conducted via US Postal Service. That stops the email and/or phone calls.

Read up on your rights under the Fair Credit Reporting Act.

Jim
 

uchristine28

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Krystal Cancun
Isn’t the contact we signed in the beginning prove that I still owe them?

They also sent me this letter weeks ago.
 

Attachments

  • 000C2078-D90D-466C-AFBF-90A4DCDB18AC.jpeg
    000C2078-D90D-466C-AFBF-90A4DCDB18AC.jpeg
    68.8 KB · Views: 37

geist1223

TUG Member
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Location
Salem Oregon
Resorts Owned
Worldmark 97,000 Credits
DRI Cabo Azul 50,500
Royal Solaris San Jose del Cabo
Demand certified copies of all Documents that prove the existence of a Contract and Debt.
 

Passepartout

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Sorry, @uchristine28. I had eye surgery a couple of days ago and can't see the small print of your attachment. It doesn't look like any deed I've ever seen. There would be a very legalese description of the property. What I see here is simply an accounting of payments you've made. I think (like 99% of Mexican TSs this is a membership. And the only 'teeth' they have on you is the ability to USE a week at their resort. No pay, no stay.

Since you've already stopped paying, there is nothing more they can do to entice you to bring your account current and keep paying. It will have no more value paid off than it does now.

Anyway, a demand that further communication MUST be via USPS (that opens them up to wire fraud), I don't expect you to hear much- if anything- from them.

If you REALLY want to put a bee in their bonnet, post your details - no investment, can't use, threats to your credit etc. etc. to every travel site you can think of. It could be that enough bad press and comments on their fb pages or ads will get them to refund everything you've paid on nthe condition that you pull down derogatory comments you've posted. These outfits DO CARE about their appearance on social media.

Good Luck to you. Let us know how it all works out.

Jim
 

AnthonyG

newbie
Joined
Mar 8, 2024
Messages
1
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0
Resorts Owned
Krystal (Cancun Mexico )
We bought a timeshare in Krystal Cancun Mexico on Sept 2021 because it was presented as an investment at the time. 2 years later, we haven’t received anything in return. We already paid $7,000 including deposit. We still have owe another $7,000. They signed us up with GTS global to rent our weeks. I have emailed Global for months since August 2023 and attempted to call but no response. I stopped all payments because of this. I contacted Krystal directly and told them the situation but they said Global is a separate service. I want out of this. I stopped payments for 3 months and now, they are threatening me that they will send it to collections and my my credit will be affected. Is this true? Will it really affect my credit score if I stop my payments? I don’t want to keep paying another $7,000 for nothing in return, we’re not even using the timeshare.

What is the best option for this situation? Please help!!
Hi I’m sorry this happened to you, as it happens to me as well. I’m looking to get out of this scam. Did you find any possible solutions or agency’s to help exit the timeshare
 

T-Dot-Traveller

TUG Member
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Jun 10, 2015
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4,696
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Location
Canada
Resorts Owned
Mayan Palace Regency
Taranova
Hi I’m sorry this happened to you, as it happens to me as well. I’m looking to get out of this scam. Did you find any possible solutions or agency’s to help exit the timeshare
Hi @AnthonyG - and Welcome to TUG
There are no agency's that will do anything beyond take more of your money $$

Use what you bought or stop paying. There are lots of TUG Mexican forum info on both options
Read them and make your decision.
 
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