Timeshare Newbie question -

Ok i guess we have decided to bail out -

How would they loose out if we filed bankruptcy on the timeshare? Do you think it would be worth it to ask for some down payment back?

If you get granted full bankruptcy it eliminates all your debts . Even if you restructure they have to file with the court and that costs time and money. It might be better for them just to take it back and not worry about court costs and lost maintenance fees. You have nothing to lose by asking. If they agree to take it back it's very inexpensive and quick.

You know i did do that and the lady supervisor basically told be to go screw myself theres nothing they can do about it - Pitty she wanted to go this route but they friend of mine is going to file anyway right after maxing out the credit cards buying some silver - I guess i wont feel bad for them -

Hey don is filing bankruptcy the easiest way to get out of the contract on a timeshare ? The we get you out companies are all ripp off artists too right?

Bankruptcy doesn't necessarily get you out of your contract. You still own it but your debts may be forgiven . You may be responsible for future payments once you are discharged from the bankruptcy. It may be to their advantage to take it back since there's a good chance you may not pay future fees.

Well we wont be making any payments ever and we wont file until the bank reposeses it so until it goes to colection they wont be able to garnish wages which we dont have any pay checks to garnish - they will never get a red cent from either of us i swear -

If you go into buying a timeshare thinking that I will just declare bankruptcy if I don't like it, you really have no business buying. In terms of the MF you are screwing the other owners who will have higher MF covering owners like you until the unit is repossessed and resold. You could have avoided all of this by not going to a presentation to buy a timeshare; or going but not buying; or going then buying and then rescinding during the legally mandated time. They shouldn't have offered you the credit if your only income is disability but you really had no business buying a timeshare that costs in the $10,000's if your only income is disability. Did you lie about your income levels when you went to the presentation?

tracey75 wrote:

They shouldn't have offered you the credit if your only income is disability but you really had no business buying a timeshare that costs in the $10,000's if your only income is disability.

Those sales people don't care about that. All they care about is making a sale and getting their commission. Once the purchase is made, whether or not the new owner can make maintenance fee and mortgage payments is out of the hands of the sales people and is no longer their concern.

I know but usually that have minimums in order to be gifted and you still have to fill out the finance papers. Did the OP lie on either of these to get the gift and get the financing if so very bad on him and if not than very bad on the timeshare.

We were told to say we get 5400 a month from the lady who offered the money and show tickets - she literally told us to say that we get 5400 a month- Its not our fault these scum bags dont do any credit checks or anything like that anyway the bankruptcy lawyer that we spoke to said that we can easily add it to the bankruptcy and get out of it - but guess what were going to use it before we stop paying and screw them even more - Might as well get something out of the down payment right? I dont feel bad for them one bit-

I don't know about transferring the title out of your name in the bankruptcy but any debts can be eliminated if you are granted your petition. They will lose a lot of money which makes them foolish not to take it back voluntarily . Maybe once they get burned they may change their policy.

The lady may have told you to lie and you happily obliged. Did you put the whole thing on a credit card you already had or did you fill out a new form and sign it saying you made $5400 a month or some such number or did you fill out the credit application with your true information? If so there is physical evidence that you lied. They may have lied too and someone might have told you to lie but do you have any of that on paper or is that part your word against theirs. If your only income of record is your disability checks it would probably not be worth it for them to come after you but you really aren't blameless in this. There may come a time in the future before the bankruptcy falls of your record where you may need credit for a car or a house or even a rental and you may be denied.

There really are victims of timeshare developers and you may fall into that category a tiny bit but you are really seem like you are just as questionable as they are, bragging on a public forum about how you are working the system with this timeshare and with the checks you get under the table when you are being paid disability some or all of which are on the tax payers dime where you may be receiving more than what you are eligible if you declared you other earnings.

Again its not in my name and as far as evidence all one would have to do is pretend to be interested in going on the timeshare tour with a hidden camera in their pockets - Im sure they say the same thing to everyone and that is because what we were told is that The timeshare didnt want people sent to them that "couldnt afford it" and so you wouldnt get the free stuff if you didnt lie and we were told that it was ok to make up an income amount - Besides what do you know if im lying or telling the truth its the internet people tell all kinds of stories on the internet - LOL

Anyways we are going to make the first couple of payments - we are going to use At least our biannual week in 2017 and maybe our extra week in 2017 then we will stop paying by mid year- sorry if this offends you but we did put down a good 1000 bucks down payment and we should get something out of it right ? Why should we just give them money for nothing? Because we didn't know all the facts?

Also im not trying to gloat or anything i just want people out there who are getting shafted by timeshare con artists that there is options available to them other than just giving them your money and getting nothing out of it- I would recommend anyone who made have already have bad credit or unpaid bills and my be in the same boat - To go ahead and use the options available to them and then do the bankruptcy option if you need an exit strategy - Maybe if more people started doing this then maybe the timeshare people would clean up the game and instead of scamming so many they might get a better reputation and value -

thanks for all the great information on here. I appreciate it. Now I will go and list my timeshare for rent. Its not in Las Vegas its in Mexico but I feel comfortable. Thanks

theodoref18 wrote:

Also im not trying to gloat or anything i just want people out there who are getting shafted by timeshare con artists that there is options available to them other than just giving them your money and getting nothing out of it- I would recommend anyone who made have already have bad credit or unpaid bills and my be in the same boat - To go ahead and use the options available to them and then do the bankruptcy option if you need an exit strategy - Maybe if more people started doing this then maybe the timeshare people would clean up the game and instead of scamming so many they might get a better reputation and value -

Yes bankruptcy is a legitimate option for some but it is stinky to go buy a timeshare when you are already contemplating bankruptcy as your out strategy.. And in terms of cleaning up the industry, it would help if buyers took some more responsibility and read their contracts and did some research either before signing or immediately after when purchasing a $10,000-$50,000 product and rescinded during the normal legally mandated "cooling off"/rescission period.

You are sticking it to the developer but you are sticking it to other owners as well. I own at Grandview and will likely see an increase in my MF to cover delinquencies like yours when you could have so easily avoided it by not signing the contract and walking away with you gifts.

We were not told about the resend period - I could have guess that you are a owner/ employee - Btw we were on a vaction WE ARE NOT GOING TO BE READING PAPERWORK ON OUR VACATION - THE SALES person could have told us about the 5 day rescend period could they not - Also our 5th day was a Sunday GUESS WHAT ? THEY AREN'T OPEN ON SUNDAY - HOW DO THEY COUNT SUNDAY AS THE 5TH DAY WHEN THEY AREN'T OPEN ON SUNDAYS ?? anyways im done discussing this matter they could have taken it back and canceled the contract but chose not to so when you get your increase you can thank the owners for not just cancelling the contract that we told them we weren't going to pay off - I even told the lady we are going to file bankruptcy on it - You know full well this Grandview is a scam and you know full well the tactics they use - We told them no 3 or 4 times they should have just lets us go and given us our free gifts instead of pushing it i hope they all suffer - And you being an OWNER at Grandview I do hope you would have interest in seeing the Grandview Sales people change their sales tactics since they are selling for a property you have an interest in as an Owner - But since you don't care about how YOUR employees Make Sales - I hope you do get an increase as well - Maybe you should contact the manager and see why their sales people are operating the way they do IF YOU ARE REALLY THAT CONCERNED ABOUT IT- You can also maybe ask why they wouldn't just keep our down payment and cancel our contract instead of possibly costing YOU Money in increases???