bankruptcy timeshares
How to get rid of Timeshare?
My Husband and I purchased with Wyndam Resorts back in 1999. We went on 12 different vacations across the states both east and west coast. Enjoyed all of them. Now we have been trying to get rid of them. We tried a realitor, paid a fee, never heard from them again. Then we contacted Timeshare Rescue and started the ball rolling in Aug 2008. Up to this point, we,ve gotten one out of our name, one hanging in limbo and the last one still in our name before the Rescue filed bankruptcy. We need help please. Wyndam is still trying to get fees from us . Will this kill our good credit?
have you checked your credit lately? That’s one way to find out if this is hurting it. I’m confused about what you’re trying to get rid of. You said you purchased with WR. then went on 12 vacations And now you’re trying to get rid of “them”. It looks like you had three but not sure. First thing I would do is contact a lawyer or look for free legal advice about it. The internet is a good source for that but a lot of communities have programs which include lawyers donating their time one day a month or something like that. Find out what type of bankruptcy this company Timeshare Rescue, filed.
Once you do that you should be able to find out what your responsibilities are to pay them.
If you’re disatisfied with the service from the co. you bought your timeshare with then you need to file complaint letters with a specific demand. (tell them you want out of the contract) Be sure to save a copy AND send them return receipt requested so you will have proof of the mailings and proof of their receipt of your dispute. If in the future your credit is compromised by these timeshare resorts you can write to the credit reporting angencies and tell them you had a dispute that was never resolved. if you include the copies of your mailings & receipts then the reporting agencies will take this off your credit report.
If these timeshares are paid in full then your fees would be for the trading services and/or upkeep for the units. those are typically not the same company you purchased the timeshare in and that might be who you are paying. I’m guessing this because you didn’t explain the specifics in your question.
When a timeshare is purchased, you’re basically buying “time”. It’s deeded to you & some people feel good about that. But the problem is…is that “time” is not tangible. You cannot see it, touch it or even save it. (it’s true you cannot save time no matter what you’ve been told you can only readjust it to use in some other way or at some other “time”) The majority of TS resorts won’t even guarantee your “time” there.
They have other companies that handle that which of course requires you to pay them a fee as well. They have these very telling – requirements that you must follow in order to get the dates you want at these resorts. They usually consist of either a phone call or a letter or postcard timestamped on or AFTER a specific date but NEVER before that date. What always happens when you call these places is you can never get through because the line is busy. OR, If you’re lucky enough to get through they give you the bad news that “sorry no more “time” is available for those dates”. Same thing with the response from a mailing. Yet if you were to call these resorts as someone who is just looking for a unit during the time that you want as a non-owner than you will most likely find that they do in fact have availability. Of course that is legal because they are only required to set aside a specific amount of units for the time period. Thing is, how many exactly are they required to set aside? Two? four? twenty? Well that depends on the time of year…… (more b.s.)
If I were you, I would try to sell the “property” you bought on Craigslist or some other place that doesn’t charge an arm and a leg to list it. Sell the “property” cheap…. at a loss if you have to because the longer you keep it the more money you’re going to owe and it will just become an even bigger loss. It’s unfortunate that you bought these so long ago because as I am sure you have learned by now that unless these timeshares continue to sell “time” they go under. And the one thing that is definite about time is that….it always runs out… They should have never started this nightmare in the real estate industry to begin with because the whole concept of it from the very beginning was Criminal at best.
|
|
Fewell fires another shot in hotel feud.(dispute between Bob Fewell, David Wick): An article from: Arkansas Business $5.95 This digital document is an article from Arkansas Business, published by Journal Publishing, Inc. on April 12, 2004. The length of the article is 2013 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation DetailsTitle… |
