• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 27 years!

    Join tens of thousands of other owners just like you here to get any and all Timeshare questions answered!
  • TUG has now saved timeshare owners more than $17,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $17 Million dollars
  • Follow the TUG Member Banner as it travels the world on vacation with Timeshare owners! Also sign up to get the banner sent to you so you can submit a photo of your vacation with the banner to share with TUG! Banner Thread
  • Sign up to get the TUG Newsletter for free! Join tens of thousands of other owners who get this every week! Latest resort reviews and the most important topics discussed by owners during the week!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    Read more Here
  • A few of the most common links here on the forums for newbies and guests!

TimeshareCompliance is asking $17,000 fee to cancel contract, should I do it?

RichRichy

Guest
Joined
May 29, 2017
Messages
5
Reaction score
0
Points
1
Resorts Owned
Diamond Resorts International
So here is the basic background story. Diamond Resorts International, DRI, offered a 5000 point system that cost a down payment and $300/month. My wife and I were fine with this when we bought it in January. In April we had an 'orientation' and we thought we were buying a replacement loan. We asked more than once that it will take over the first loan. We did a down payment and the paper said it was going to be $525/month. We said ok. 12 days later, I checked my membership online and it said I owed $825/month. I called DRI, sent emails, sent letters, each time they said that I needed to read the contract and i had 10 days to do that in Florida. So they kept saying that is the contract that i signed and regardless of what the sales person said i had enough time to cancel. Because of the two loans, it says I owe them $129,000 with the loans and current maintenance of approx $3000/year. I went nowhere with DRI. I never would've said yes to two loans because I can't afford $825/month for vacations.
Today I did a consultation with TimeshareCompliance and they want $17,000 up front to cancel both loans and not affect my credit. Is this a fair price or am i getting duped again? It will be in writing. They said they are going the legal angle because I would never agree to two loans and I was in the sales pitch for 4 hours total. What do you think I should do to cancel the contract since it will eventually bankrupt me if I do $825/month for 10 years.
 

rickandcindy23

TUG Review Crew: Expert
TUG Member
Joined
Jun 6, 2005
Messages
24,971
Reaction score
4,262
Points
599
Location
The Centennial State
Resorts Owned
Wyndham Plat,RCI pts,Shell,WorldMark,OKW,SSR pts; Marriott's Willow Ridge;Val Chatelle; Hono Koa; SBP; SDO; Blue Ridge Village
That sounds like a stupid thing to add on to another stupid thing.
 

RichRichy

Guest
Joined
May 29, 2017
Messages
5
Reaction score
0
Points
1
Resorts Owned
Diamond Resorts International
So what would be your suggestion to cancel a contract I never wanted? legally and not allow them to go after me legally with wage garnishments later on in life?
 

TUGBrian

Administrator
Joined
Mar 24, 2006
Messages
19,096
Reaction score
4,316
Points
749
Location
Florida
do you really believe paying 17,000 dollars is going to somehow make them forgive a 130 thousand dollar loan you took out?

you already know this is an absolutely terrible idea deep down.

or a better question, is saving your credit score worth 17,000 dooloars?
 

tschwa2

TUG Review Crew: Veteran
TUG Member
Joined
Dec 19, 2008
Messages
13,799
Reaction score
3,122
Points
548
Location
Maryland
Resorts Owned
A few in S and VA, a single resort in NC, MD, PA, and UT, plus Jamaica and the Bahamas
Problem is you might pay $17,000 and still be on the hook for the DRI and your credit might still get ruined.
 

RichRichy

Guest
Joined
May 29, 2017
Messages
5
Reaction score
0
Points
1
Resorts Owned
Diamond Resorts International
So, you're basically saying it's best just to foreclose on the loans?
 

RichRichy

Guest
Joined
May 29, 2017
Messages
5
Reaction score
0
Points
1
Resorts Owned
Diamond Resorts International
If they would've given me a paper that said it was $130K loan, then i would've said no. It was two loans, when I asked in multiple occasions, whether it was going to be just one loan.
 

RichRichy

Guest
Joined
May 29, 2017
Messages
5
Reaction score
0
Points
1
Resorts Owned
Diamond Resorts International
Well, any suggestions would be appreciated.
 

TUGBrian

Administrator
Joined
Mar 24, 2006
Messages
19,096
Reaction score
4,316
Points
749
Location
Florida
unfortunately you arent likely going to find anyone to suggest you go thru with that particular course of action.
 

Tia

TUG Member
Joined
Jun 6, 2005
Messages
2,869
Reaction score
189
Points
298
Sorry for your situation. Obviously Diamond persons lied to you but what matters is what is in the contracts you signed. I am thinking you will be throwing away another 17K with the whoever TimeshareCompliance is.
 

echino

TUG Member
Joined
Dec 2, 2008
Messages
1,314
Reaction score
955
Points
324
Location
Vancouver
Resorts Owned
HYN HCC HWP HYP
HRA KAN WSJ WKV WLR SVV
MCV MKO MM1 MPU MSK
GP7
Valdoro
HHV Lagoon
So you bought one timeshare from the developer in January, but you did not pay the purchase price upfront and instead financed it at $300 per month. Then in April, you bought a second timeshare from the developer, again did not pay the the purchase price upfront and financed it at $525 per month.

Rescission period passed.

So now you own two timeshares with an obligation to pay $3,000 per year in maintenance fees. In addition, you owe $129,000 for the loan you took out to buy those two timeshares.

Now, you were approached by scammers trying to milk you for additional $17,000.

Bad news. You are stuck. Don't pay the scammers. AS for the timeshare and the loans, either pay, or else default on them. There is no way out.
 

DeniseM

Moderator
Joined
Jun 6, 2005
Messages
55,330
Reaction score
5,879
Points
1,699
This is the bottom line: What are you going to do when TimeshareComplaince doesn't get you out of your contract and you just lose another $17,000? I think you are just adding scam #2 to scam #1.

For this amount of money, you may want to have a face to face consultation with a REAL lawyer (not some internet bozo.)

You should do yourself a favor and never go to another sales pitch, because they ALL lie, and you must read and understand what you are signing.
 

Iggyearl

TUG Member
Joined
Dec 26, 2014
Messages
730
Reaction score
863
Points
203
Location
Ballston Lake, NY
If they would've given me a paper that said it was $130K loan, then i would've said no. It was two loans, when I asked in multiple occasions, whether it was going to be just one loan.
Unfortunately the timeshare business does not thrive because the sales people are honest. Your initial exposure was due to the promise of a free gift. The idea had merit. You bought something that you did not understand. Then, in an attempt to understand your purchase, you fell for an "owner's update." You were sold again - even though you did not know that. It happens all the time.

There are some Diamond facebook sites where your story may get some sympathy and direction. Diamond supposedly has a new program called "Diamond Clarity" where they promise to play fairly. You may get some direction from people who have used it. You were cheated and have a right to complain. TUG members usually don't fall into these schemes. They are "road warriors" who have learned from their own and others' experiences. They are timeshare "USERS." You are a timeshare scam victim.

You have 2 timeshare contracts that you supposedly signed willingly, and you did not take the time to read either one during the legal rescission period. Not real smart. Get smart and scour the internet for more advice, pressure Diamond in their Diamond Clarity program, don't pay any money to upfront scammers, and don't pay Diamond another nickel.

And maybe rethink the screen name of "RichRichy." :ponder:
 

geist1223

TUG Member
Joined
May 20, 2015
Messages
4,231
Reaction score
3,804
Points
349
Location
Salem Oregon
Resorts Owned
Worldmark 89,000
Seaside Oregon Residence Club
DRI Cabo Azul 50,500
Royal Solaris San Jose del Cabo
Ditto on what everyone said that you will probably lose the additional the $17,000 and still owe DRI. I assume that with your second "purchase" you ended up with additional DRI Points. You got 5,000 DRI Points with the first purchase. How many additional DRI Points did you "purchase accidently" with the second purchase?
 

TUGBrian

Administrator
Joined
Mar 24, 2006
Messages
19,096
Reaction score
4,316
Points
749
Location
Florida
also keep in mind that many companies tend to muddy the waters up when explaining exactly what they can or cannot do for you.

for example, to explain that if you pay a certain upfront fee, they can "get you out of your timeshare" or "cancel your timeshare" or otherwise "end your ownership"

and this may very well be true, for instance DRI has an official program where you can give up your unwanted ownership to them for a $250 fee. (it of course must be paid off first however as part of that program rules)...this however does not stop said upfront fee companies from advertising they can easily "get you out" for their fee!

your loan however is a completely different story, and with DRI is likely thru a 3rd party creditor (barclays for instance). the loan agreement you signed to purchase the ownership likely has absolutely nothing to do with DRI and is between you and the creditor...vs your ownership and maintenance fees paid to DRi.

many folks hear exactly what they want to hear in these situations, and tend to compound a very expensive mistake with another one.
 

MOXJO7282

Tug Review Crew
TUG Member
Joined
Jun 6, 2005
Messages
5,180
Reaction score
870
Points
399
IMHO your best approach now is to find someway to extract maximum value out of your the annual points you receive. I know if it were in the Marriott program I'd tell you to secure Maui Ocean Club weeks to rent and you'd be able to get quite a lot of value back by doing this. However I don't know the DRI program but I'd suggest the same thing if you can rent your points in this fashion, find the highest demand resort they have and secure weeks that you can rent to try to recoup your costs as much as possible.
 

RLS50

TUG Member
Joined
Sep 1, 2015
Messages
588
Reaction score
237
Points
153
IMHO your best approach now is to find someway to extract maximum value out of your the annual points you receive. I know if it were in the Marriott program I'd tell you to secure Maui Ocean Club weeks to rent and you'd be able to get quite a lot of value back by doing this. However I don't know the DRI program but I'd suggest the same thing if you can rent your points in this fashion, find the highest demand resort they have and secure weeks that you can rent to try to recoup your costs as much as possible.
That would be good advice if this was another points system. But unfortunately DRI has rules against their points owners renting commercially.

I say this with no joy as it relates to the OP, but in my opinion Diamond points might be the most worthless in the entire timeshare universe. They have among the highest costs and annual fees, they are among the most restrictive, and they have a resale value of $0. For all that an owner will get access to mostly a bunch of 3 star properties, with maybe a few 3.5 to 4+ star places available, but most of their best properties appear to be in relatively low demand locations (i.e. Cabo Azul in Mexico, Orlando, Arizona, etc). Even the Hawaii locations don't appear to be as nice as what Marriott offers. Yes, there is a bunch of quantity, but not sure how much of that selection represents real quality.

The more I learn about DRI the more I don't understand the value proposition.
 
Last edited:

RLS50

TUG Member
Joined
Sep 1, 2015
Messages
588
Reaction score
237
Points
153
To the OP...

As long as TugBrian is okay with this, I suggest you check out the Facebook DRI Owners Advocacy page. Irene Parker is a volunteer that has helped other DRI customers appeal their purchases to the DRI Customer Advocacy group. They are relatively newly organized but have helped DRI customers get over $500+K in loans forgiven so far. I would reach out to Irene and see if anything you experienced during your sales presentations would qualify for some assistance.

Whatever you do, please don't give away anymore of your money to individuals or groups that are looking to take advantage of you.
 

Iggyearl

TUG Member
Joined
Dec 26, 2014
Messages
730
Reaction score
863
Points
203
Location
Ballston Lake, NY
Ditto to the above. There are many reports of quasi-illegal actions on the part of Diamond sales people. Very similar to the OP's experiences. Irene and others are attempting to level the playing field and give aggrieved owners a fighting chance at fair settlements. I posted earlier without naming her, but she is a force to be reckoned with regarding Diamond Resorts.
 
Top