We messed up

[Gabbs]

We bought "points" at that horrible presentation from holiday Inn Orando Resorts last year. We are well past our 10 cancelation days, we just kind of forgot we did this in the first place.
How do we get rid of it?
We tried contacting them but they gave us information on selling through them?
I can see how selling would not actually be an option, more like giving away.
I don't trust those "cancelling companies" so I am here.
Has anyone gotten rid of their holiday inn points successfully?
My husband is ready to just stop making payments and trash our credit so I want to see if there's anything we can do first.

 

[Talent312]

Rest assured, you're not alone in falling for high-pressure sales tactics.
Unfortunately, the TS developer has no obligation to help you out.

Anyone who asks you for $$ upfront to "help" you out is a scammer.
They'll have you sign a POA + give 'em a CC, but you won't get relief.

If you say, "Take it back or you'll just have to foreclose," then
_sometimes_ they'll do a "deed in lieu of foreclosure" take-back.

Not paying" will lead to credit-collectors and a hit to your credit score.
Eventually, they'll foreclose. But to some, the pain is worth it.

If you owe $$ on it, it's unsellable. You may as well learn to use it.
If not, you can try to sell it yourself... Ebay, Redweek, here on TUG.
.
.

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[tschwa2]

If you owe money on it, it probably is worth less (quite a bit less) than what you owe. 95% of OL deeds are worth $0-$500.

 

[RX8]

We bought "points" at that horrible presentation from holiday Inn Orando Resorts last year. We are well past our 10 cancelation days, we just kind of forgot we did this in the first place.

Do you have an outstanding mortgage? I ask because I would have thought that you would be reminded of the timeshare every time you have a mortgage payment.

If you do not owe anything you could give it away but if the purchase price is behind you maybe you could try it out to see if you like it. After all, there was something you must have liked about the idea when you purchased it.

 

[Gabbs]

We have automatic withdrawal, we never used it we just pay for it monthly. They promised no maintenance fee since it would be included with the monthly payment and we received a maintenance fee bill for 800$ so now we know and want out.
We owe a lot on it since we technically just got it. No overdue payments yet.
I would consider giving it away to somebody that wants to up their points but I feel like it would be too difficult to deal with that anyways.
We are thinking of letting it go to collection agencies and foreclose. The contract states "no party will sue"

 

[Panina]

We have automatic withdrawal, we never used it we just pay for it monthly. They promised no maintenance fee since it would be included with the monthly payment and we received a maintenance fee bill for 800$ so now we know and want out.
We owe a lot on it since we technically just got it. No overdue payments yet.
I would consider giving it away to somebody that wants to up their points but I feel like it would be too difficult to deal with that anyways.
We are thinking of letting it go to collection agencies and foreclose. The contract states "no party will sue"

You cannot give it away because you own money on it. Be prepared for it to hit your credit report and be there for many years if you stop paying.

If you cannot afford the payments better to walk away sooner then later. If you can afford them I would suggest learn all about timesharing here on Tug and learn to use your week to the best possible . With knowledge and planning there are many wonderful vacations you can take.

Many of us here on Tug purchased our first timeshare like you from a developer at a high price. I personally have gone to places I could never afford if it wasn’t for timeshares.