Unlimited Vacation Club - 6 months in and want to stop payments

[Melissa19791]

I want to stop payments on the UVC timeshare.

This is what happened.

A "Friend" signed up for the timeshare in February 2019 - she has "mental health" issues and jumped right in and purchase the Pearl package in addition to the Flyback option.

A month into her timeshare she called me frantically to help her make the payments. So far I have paid $6,000 into the timeshare and she stopped all contributions. It is basically me carrying the payments.

I went along with it thinking we could just share and I was added to the contract in August 2019 on the condition she would step up. She is not and she has wiped her hands of all responsibility. I cannot use the Flyback as it is in her name. She is not signing it over to me either so that I will be the sole owner.

We live in Canada. What happens if I stop all payments? I cancelled my credit card and am willing to walk away from the $6,000. She is not going to help make any more payments and there is another $7,000 that is to be paid over the next 4 years.

What are the legal consequences if I stop payments now that my name is on the contract?

 

[Grammarhero]

Unfortunately your friend took advantage of you. There are no good solutions to your situation.

You might take a credit but of about 50 points, maybe even more.

 

[Passepartout]

I want to stop payments on the UVC timeshare.

We live in Canada. What happens if I stop all payments? I cancelled my credit card and am willing to walk away from the $6,000. She is not going to help make any more payments and there is another $7,000 that is to be paid over the next 4 years.

What are the legal consequences if I stop payments now that my name is on the contract?

I think you'd be wise to discuss this with a Canadian attorney versed in International credit law. My gut feeling is that you would simply be out whatever money you've already paid on your 'friend's' behalf. The question is whether the non-payment will result in a black mark on your credit. We regularly tell US based people who wish to default on Mexican timeshares to simply go for it. There is no actual ownership in Mexican TSs, and the only 'teeth' in the contract is no pay- no use. I suspect it's the same for Canadians, but honestly, I'd like a Canadian lawyer to be the one to tell you.

May you earn your spot in Heaven for being a true friend to this person, but it adds credence to the saying, "No good deed goes unpunished."

Jim

 

[rickandcindy23]

Someone else's regrets should not be your regrets. Did you sign something?

 

[goaliedave]

Book a week's vacation first before you cancel, to at least get something fir your money!

Sent from my SM-J327W using Tapatalk

 

[cheech]

Unlimited Vacation Club "usually" throws in some premiere nights which get unlocked the more you pay down your balance. Premiere nights are essentially nights in a UVC branded resort at no additional cost to you all inclusive. I'm not going to use the term "free" in this situation, but they're incentive nights so to speak. My advice, burn through those first, take a well deserved vacation mostly on your dime, but partially on hers, then stop all payments and communication.