Want to get rid on Diamond Inrernarional Points

[bobproct]

I do not have a timeshare. I have 60,000 diamond international points that I do not want. How do we determine the value of the points? How to safely exit my ownership? What part of this forum is best for my questions?

 

[TUGBrian]

welcome to TUG!

Options for owners to get rid of a Diamond Resorts Timeshare or Points

how to get out of a DRI Timeshare

tug2.net

 

[JONC777]

(this link has many westgate references in it by the way)

 

[TUGBrian]

ha, interesting...that last paragraph did have a westgate name in it...apologies. corrected!

 

[pedro47]

I do not have a timeshare. I have 60,000 diamond international points that I do not want. How do we determine the value of the points? How to safely exit my ownership? What part of this forum is best for my questions?

Welcome to the TUG website.
Question..Where did you purchase 60,000 Diamond International Point from?

 

[bobproct]

Welcome to the TUG website.
Question..Where did you purchase 60,000 Diamond International Point from?

I got the points while at a Diamond Resort event in Kissimmee, FL on Jan 18, 2018. The representative was Shavannah Morehouse 407-485-8106 Savannah.morehouse@diamondresorts.com I am unable to contact Ms. Morehouse

 

[WaikikiFirst]

I do not have a timeshare. I have 60,000 diamond international points that I do not want. How do we determine the value of the points? How to safely exit my ownership? What part of this forum is best for my questions?

Diamond has "Collections". Which is this in? I don't own Diamond, but the value is not hard to determine.
"A" = cost to rent a week at a few of the resorts in your collection
"B" = your yrly MFs
If A = B, it has no value. If A >> B, it has some value, idk maybe something like ((A - B) x 2) or x3 or less, if strange restrictions??? A should be >> B since there are transaction costs you have to hurdle to attract a taker/buyer
If A < B, fuggedaboutit
I saw some Diamond Pts sales on timesharenation ealrly this yr. As I remember it they were all being given away and the BEST MFs/Pts ration was $0.20/Pt. So unless your 60K has MFs well under $12,000, no value. What can you get with 60K pts? Anything you couldn't rent for $4,000/yr?
Aside from "Collections" are there different varieties of "Pts" out there. The ones I saw all seemed to be the same othe than the #s

 

[bobproct]

Diamond has "Collections". Which is this in? I don't own Diamond, but the value is not hard to determine.
"A" = cost to rent a week at a few of the resorts in your collection
"B" = your yrly MFs
If A = B, it has no value. If A >> B, it has some value, idk maybe something like ((A - B) x 2) or x3 or less, if strange restrictions??? A should be >> B since there are transaction costs you have to hurdle to attract a taker/buyer
If A < B, fuggedaboutit
I saw some Diamond Pts sales on timesharenation ealrly this yr. As I remember it they were all being given away and the BEST MFs/Pts ration was $0.20/Pt. So unless your 60K has MFs well under $12,000, no value. What can you get with 60K pts? Anything you couldn't rent for $4,000/yr?
Aside from "Collections" are there different varieties of "Pts" out there. The ones I saw all seemed to be the same othe than the #s

After chatting on the Diamond Website, they offered this: "Currently the only way to release the membership/ points would be through transitions. This program is currently on pause. You may get additional information under the transitions tab on your member page" I could not fnd that page. They said the program may return in 2025

 

[DRIless]

I do not have a timeshare. I have 60,000 diamond international points that I do not want. How do we determine the value of the points? How to safely exit my ownership? What part of this forum is best for my questions?

Actually, it sounds like you do have a timeshare. You have points in one of Diamond Resorts (now HGV-Hilton Grand Vacations) that represent a share of ownership in one of Diamond Resorts "collections" that are owned in a Trust. Yes, you don't have a timeshare week. 60,000 points is a huge number of points, unfortunately none of the benefits of your VIP Level transfer with your sale or giveaway of the property. This is how the developer makes resale property unappetizing.

When Transitions 'returns' you'll be told that if you hold a loan or a mortgage, they won't deal with you until it's paid in full.

 

[WaikikiFirst]

After chatting on the Diamond Website, they offered this: "Currently the only way to release the membership/ points would be through transitions.

Currently the best way to prolong the membership/ points would be through distractions.

 

[easyrider]

Currently the best way to prolong the membership/ points would be through distractions.

What are "distractions" ?

Bill

 

[WaikikiFirst]

They said the program may return in 2025

Listening to this is a distraction. THe point is get to the nitty-gritty of what you own. Then figure out how to use it or dump it.
Note in the OP, how little actual detail there is, topped off by the "I don't own a TS" semantics or misunderstanding or what?
Note in the 2nd post, still no detail. Too distracted maybe

 

[bobproct]

I do not have a timeshare. I have 60,000 diamond international points that I do not want. How do we determine the value of the points? How to safely exit my ownership? What part of this forum is best for my questions?

I contacted the 'transitions' department about exiting my ownership of 32,500 Diamond International Points.
The 'transitions' program is on hold now and may come back in 2025. I was told to submit a request for transition and then verified that I met all four of their requirements. I will have to pay ~$6,000 maintenance fee for 2025 and if the transition is approved, will then will need to pay a ~$10,250 fee. I can not travel and do not have that kind of money. The transitions dept told me that if I do not pay, they will come at me with a collection agency and the activity will be a mark on my Credit Report. What can I do?

 

[bobproct]

I contacted the 'transitions' department about exiting my ownership of 32,500 Diamond International Points.
The 'transitions' program is on hold now and may come back in 2025. I was told to submit a request for transition and then verified that I met all four of their requirements. I will have to pay ~$6,000 maintenance fee for 2025 and if the transition is approved, will then will need to pay a ~$10,250 fee. I can not travel and do not have that kind of money. The transitions dept told me that if I do not pay, they will come at me with a collection agency and the activity will be a mark on my Credit Report. What can I do?

Can anyone suggest a way to get legal help in my attempt to exit my ownership of 32,500 Diamond International Points?

 

[jp10558]

Can anyone suggest a way to get legal help in my attempt to exit my ownership of 32,500 Diamond International Points?

There isn't any legal help. It sounds like the only thing you could do is (if there's no mortgage) is try and give it away at the free timeshare forum on this board. Or just stop paying, tell the collection agencies to only contact you by mail, and in a few years they're foreclose on it and you'll be free. As long as there isn't a mortgage the common wisdom is that the hit to your credit ranges from nonexistent to small.

 

[dioxide45]

Can anyone suggest a way to get legal help in my attempt to exit my ownership of 32,500 Diamond International Points?

You don't need legal help. Any "timeshare exit" outfit is just out there to take more of your money. If all you owe is annual maintenance fees, then defaulting can be the only option. That is all a timeshare exit company will have you do. While they may send your file to collections, the chance of it impacting your credit is low.