What I can do if I want to return time share that I bought 3 month ago because i can not still paying?
Posted on Mar 01, 2010 under Time Share |
When I purchase that Time Share I was depressed and was taking pill for the stress in that time and what the seller explain me in verbal spanish it was really different that what I sign in the english contract; my english is limited to reading understanding, there were some word I did not know and now is really difficult to me still paying when my finance are bad,
Everyone regrets buying those.
No, they are iron clad contracts. I think they are hoping you default, so they can seize your other assets. Why do you think they required you to have assets before you bought this?
You need to pay until the last day of the contract.
March 1st, 2010 at 11:48 pm
you signed a legal contract or a real estate transaction. If you did not understand what you were signing you should not have signed it. If you can not afford it try selling it back to the company or selling it on your own. you can also use red week.com to sell your timeshare but it will cost you 500.00 to list it. good luck. also you can have them foreclose on the timeshare. but if you had any positive credit that would be gone.
References :
March 2nd, 2010 at 12:22 am
. . . . .excuses. . . . .
you had 3 days in many cases to rescind, but they’re long gone. . . .
they use high pressure sales tactics, sure
References :
March 2nd, 2010 at 12:27 am
Everyone regrets buying those.
No, they are iron clad contracts. I think they are hoping you default, so they can seize your other assets. Why do you think they required you to have assets before you bought this?
You need to pay until the last day of the contract.
References :
March 2nd, 2010 at 1:09 am
I’m afraid I have bad news for you, but before anything you should check in to your rescission period clause. In some resorts you are still able to cancel as long as you have not used the unit.
Timeshares can be sold but the resale value is terrible, if yours is a good one (location, season, size of unit, etc.) then it is easier but it will never sell for half of what you paid for. The average prize that I have seen them been sold is for no more than $2000, and this is for completely paid off timeshares.
There are so many options out there and several owners would just give them away, that it will be almost impossible for you to find someone to take over your payments or give you a good amount for it.
You might want to talk to your accountant about defaulting on the payments.
These are some options:
- Resale is most likely not an option unless you sell it to a friend or relative.
- BE VERY CAREFUL if someone offers to sale it for you and ask for money upfront, they are just a bunch of scammers.
- It is ok to pay a few dollars (no more that $30) to post an ad in some really good site. There are some FREE sites that you can advertise, and my advise is that you just give it away and let someone take over your payments, you can try these:
http://timeshareownerscommunity.com/
http://tug2.net/
http://craigslist.com
http://ebay.com
http://recycler.com/
http://usfreeads.com/
http://www.inetgiant.com/
- Another alternative is donation, some charities take these timeshares. You can see a list of them here:
http://timeshareownerscommunity.com/Char...
- The last is the more painful, talk to your accountant about bankruptcy or just defaulting on the loan.
Good Luck!
References :