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TS Loan

ScottCan

newbie
Joined
Apr 22, 2020
Messages
2
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3
Resorts Owned
Garza Blanca
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

TUG Review Crew: Veteran
TUG Member
Joined
Feb 10, 2007
Messages
28,671
Reaction score
17,524
Points
1,299
Location
Twin Falls, Eye-Duh-Hoe
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

Official TUGBBS Rescission Master
TUG Lifetime Member
Joined
Jun 9, 2019
Messages
3,105
Reaction score
2,518
Points
449
Location
Washington, DC Area
Resorts Owned
Wyndham Grand Desert 154k & Bali Hai 105k, VV Williamsburg 4L/4 & 2/2
Former: Wyndham 276k, HVC South Bend 1/1
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?


Sent from my iPhone using Tapatalk
Out of 8 Canadian tuggers defaulting on US Timeshares, none got reported to the Canadian credit agencies.
 

ScottCan

newbie
Joined
Apr 22, 2020
Messages
2
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0
Points
3
Resorts Owned
Garza Blanca
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

Official TUGBBS Rescission Master
TUG Lifetime Member
Joined
Jun 9, 2019
Messages
3,105
Reaction score
2,518
Points
449
Location
Washington, DC Area
Resorts Owned
Wyndham Grand Desert 154k & Bali Hai 105k, VV Williamsburg 4L/4 & 2/2
Former: Wyndham 276k, HVC South Bend 1/1
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

TUG Review Crew: Elite
TUG Member
Joined
Aug 21, 2005
Messages
15,474
Reaction score
8,363
Points
948
Location
Palm Springs of Washinton
Resorts Owned
Worldmark * * Villa Del Palmar UVCI * * Vacation Internationale*
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?


Sent from my iPhone using Tapatalk

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

Official TUGBBS Rescission Master
TUG Lifetime Member
Joined
Jun 9, 2019
Messages
3,105
Reaction score
2,518
Points
449
Location
Washington, DC Area
Resorts Owned
Wyndham Grand Desert 154k & Bali Hai 105k, VV Williamsburg 4L/4 & 2/2
Former: Wyndham 276k, HVC South Bend 1/1
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


Sent from my iPhone using Tapatalk
@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.
 
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