We noticed that you're using an unsupported browser. The TripAdvisor website may not display properly.
We support the following browsers:
Windows: Internet Explorer, Mozilla Firefox, Google Chrome. Mac: Safari.

Breaking your timeshare Obligation

Peteborough ON
Level Contributor
12 posts
10 reviews
Save Topic
Breaking your timeshare Obligation

Hi Everyone,

My wife's family has deeded to her their timeshare weeks. The resort is not highly rated and is not a place for a younger group. We are considering walk away from this timeshare and not paying the matenance fees any longer. Are there any penalties for this type of action or should we just sell the time back to the owner. We are worried that our actions may impact our credit rating. Her family have owned two weeks (red) at the same site.

Any thoughts on this or if you have a web sight that would advise us on a course of action that would be greatly appreciated.

Thank you for your time.

Noraine

Gloucester, United...
Level Contributor
3,709 posts
73 reviews
Save Reply
1. Re: Breaking your timeshare Obligation

There certainly can be an impact on your credit rating in the same way as if you 'just walk away' from any other financial obligation.

You say your wife's family has deeded her the weeks. Has you wife agreed to this, or has the family simply passed them on? If the latter, then one option is to tell the t/s resort that she won't accept them. That clearly could have family repercussions.

There is absolutely no guarantee that the resort will take the weeks back, and they will almost certainly not buy them back. Why should they when they sold them legitimately and are receiving income, by way of m/f, every year.

No disrespect intended, but it would seem that not much thought was given to the situation at the outset of the transfer.

Wellington, New...
Destination Expert
for Wellington, Bay of Islands
Level Contributor
10,017 posts
201 reviews
Save Reply
2. Re: Breaking your timeshare Obligation

Speak to your resort and discuss with them what you intend to do and what ways could they suggest to resolve the matter.

It is far better to start off in a conciliatory manner than taking unilateral actions which may have far reaching consequences.

Your Resort may have a resale scheme or a list of people willing to take your weeks off you.

Be open minded in looking for solutions.

Chicago
2 posts
Save Reply
3. Re: Breaking your timeshare Obligation

My husband & I owned week 9 at Peppertree @ Tamarack, Wisconsin Dells, Wisconsin. We bought back in 1994, a 2 bedroom sleeps 6. Our maintenance fees went from $179. to $553. a year. There are no out that I know of. We went to several places to see what they would offer us for our timeshare and when we got there, there offer was sign over your timeshare and pay them to take it. One offer, 5 years ago was pay them $2000. Last year, a different company's offer was sign over and pay them $3500. My husband and I did not want to leave it to our children because what was a good idea at the time was now a nightmare. If we stopped paying the maintenance fees, they wouldn't take the timeshare back. They would take us to court for the money owed for the maintenance fees plus interest. We were told that is what happens to any family members who inherit the timeshares. We decided that we would pay Festiva the amount the other company was asking us to pay and try out their package (points from our timeshare which is 5200 a year with maintenance fees of $783 every other year). This is a package that we can, at any time, write to Festiva and tell them we are no longer interested and they cancel the points. I checked with my children, who are all of age, and they said they didn't want the week in the Dells but they are all interested in this point system because it isn't supposed to be a leach like the timeshare.

glasgow uk
Level Contributor
795 posts
38 reviews
Save Reply
4. Re: Breaking your timeshare Obligation

If you want to sell the weeks, why not try ebay or redweek.com. Timeshare users group also sell timeshares.You might not get much for them but you don't have to pay the maintainence.

london
1 post
Save Reply
5. Re: Breaking your timeshare Obligation

You could try the industry guide at URL getmymoneyback.info but not sure if it would be appropriate for your needs?

Santa Cruz...
Level Contributor
282 posts
33 reviews
Save Reply
6. Re: Breaking your timeshare Obligation

You can also list it for sale on tug2.net

aka timeshare users group.

Redwood City...
Level Contributor
340 posts
Save Reply
7. Re: Breaking your timeshare Obligation

We had 2 timeshares we were no longer using. One we were able to trade for an upgrade at a vacation club with NO yearly maintenance fees, the other had lost their Gold Crown rating with RCI and we couldn't even give it away. We had an attorney write them a letter saying they were in breach of contract as we bought a Gold Crown resort with 150/year maintenenace fees and they had let the resort go while at the same time raising the fees to over 600/year. (It was a 3 bed/2bath/2story).

The resort agreed to accept a quitclaim deed. We didn't get any of our money back, but at least we are not having to pay the yearly maintenance fees. We did use the place for many family vacations, so we feel lucky to just get out of the contract at this point.

We had called many of those places that offer to sell your timeshare for an upfront fee, take your timeshare for a donation to charity or to take it off your hands for 2 or 3 thousand dollars. I would be very careful with them and check BBB. Usually you still have to pay the maintenance fees until they sell them.

If you just stop paying they can and will call a collection agency and put dings on your credit rating.

I don't think people can just deed you something without your agreement, so if you have accepted the deed it is up to you to get rid of it. Maybe the executor of the estate can help? Or maybe there is another family member who wants it?

8. Re: Breaking your timeshare Obligation

-:- Message from TripAdvisor staff -:-

This topic has been closed to new posts due to inactivity. We hope you'll join the conversation by posting to an open topic or starting a new one.

To review the TripAdvisor Forums Posting Guidelines, please follow this link: http://www.tripadvisor.com/pages/forums_posting_guidelines.html

We remove posts that do not follow our posting guidelines, and we reserve the right to remove any post for any reason.

Removed on: 06 November 2009, 06:46