TS Loan

[ScottCan]

We bought our time share last year with Garza Blanca. We are Canadians, and paid a down payment and took the balance as a loan through the resort. Their base is in Vegas.
Due to this virus and now major cut in income we cannot afford to make the loan payment. If we default is there anything they can do to us being we are not in the US?


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[Passepartout]

They can write letters and bluster, and you'll lose whatever you've paid, but I don't think they can do anything serious to you.

 

[Grammarhero]

We bought our time share last year with Garza Blanca. We are Canadians, and paid a down payment and took the balance as a loan through the resort. Their base is in Vegas.
Due to this virus and now major cut in income we cannot afford to make the loan payment. If we default is there anything they can do to us being we are not in the US?


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Out of 8 Canadian tuggers defaulting on US Timeshares, none got reported to the Canadian credit agencies.

 

[ScottCan]

I feel now because of this virus they are breaching their own contract. We had our stay cancelled, we can’t go this year, there’s no guarantee it won’t carry over even longer. I’m sure there’s going to be lots of defaults


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[Grammarhero]

I feel now because of this virus they are breaching their own contract. We had our stay cancelled, we can’t go this year, there’s no guarantee it won’t carry over even longer. I’m sure there’s going to be lots of defaults


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I think your concerns are valid.

 

[easyrider]

We bought our time share last year with Garza Blanca. We are Canadians, and paid a down payment and took the balance as a loan through the resort. Their base is in Vegas.
Due to this virus and now major cut in income we cannot afford to make the loan payment. If we default is there anything they can do to us being we are not in the US?


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Garza Blanca Resorts are part of Taffer Hotels and Resorts and are all Mexican businesses. They use resortcom to collect loan payments , maintenance fees , contracts and reservations. Resortcom is an American corporation who can also be used for collections but because the client is a Mexican company and the business transaction is in Mexico , Resortcom can only notify you of your delinquent account and or help with a third party debt collector. This help is limited to account information is my guess.

You would loose money spent to date and get some future communications which you could block and ignore, lol.

Bill

 

[Grammarhero]

I feel now because of this virus they are breaching their own contract. We had our stay cancelled, we can’t go this year, there’s no guarantee it won’t carry over even longer. I’m sure there’s going to be lots of defaults


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@ScottCan We hope you are well and healthy. If you made the difficult decision to default, please kindly let us know if your credit got affected. It would help tuggers in similar situations moving forward.