• 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 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 30 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 30th Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $21,000,000 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 $21 Million dollars
  • Sign up to get the TUG Newsletter for free!

    60,000+ subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • 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!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Want out Sunset contract....help

swapdude

newbie
Joined
Jan 4, 2016
Messages
2
Reaction score
0
Points
0
I have been in a sunset tresrios contract now for 2 years and love the resort. But now I no longer can afford it and am behind a few months on payments. I would love to get out of this contract but they say I have to pay the remainder. I did find in my contract that failure to pay for 2 months on monthly payments would "entitle the PROMOTER to demand the early execution of the financial balance or to rescind this contract". Does this not mean they could just cancel my contract?
 

DeniseM

Moderator
Joined
Jun 6, 2005
Messages
57,957
Reaction score
9,481
Points
1,849
Resorts Owned
WKORV, WKV, 2-SDO, 4-Kauai Beach Villas, Island Park Village (Yellowstone), Hyatt High Sierra, Dolphin's Cove (Anaheim)
"early execution of the financial balance" = demand full payment of the remaining balance
 

rpennisi

Guest
Joined
Jun 26, 2010
Messages
1,304
Reaction score
415
Points
243
Location
New York
Looks like they have a choice of rescinding your contract or demanding the balance...and they chose demanding the balance.
 

swapdude

newbie
Joined
Jan 4, 2016
Messages
2
Reaction score
0
Points
0
So this means I have no choice but to pay the balance? There has got to be another way. I am open to any other suggestions. Of course they are threatening sending it to a collection agency.
 

DeniseM

Moderator
Joined
Jun 6, 2005
Messages
57,957
Reaction score
9,481
Points
1,849
Resorts Owned
WKORV, WKV, 2-SDO, 4-Kauai Beach Villas, Island Park Village (Yellowstone), Hyatt High Sierra, Dolphin's Cove (Anaheim)
You can default, but of course there are consequences. If you are having financial problems, it may be a legitimate choice.
 
Top