Can't make payment on my timeshare. What are the consequences? Please need some help.

Hi guys, Actually as a matter as fact the following story is not mine but my parents.

My parents went on vacation this year in may to Miami. While they were walking up by Collins Ave they got trapped by this bunch of salesmen-time-share cockroach. Of course they trapped with their lies easily because they spoke my parents native language; Spanish. Long story short, the salesmen made them sign-in the time share contract (in English) for 20k i guess and an annual maintenance fee of $650. After my parents came back home from vacation; home is Bolivia, they were eager about they new and first property overseas, and sadly i explained them that is pretty much a self-scam because they agreed on paying that ridiculous amount of money for something that they won't take the most out of it. Finally i convinced, and proved them that was economically unfeasible and advise them to stop making payment. As a consequence, they did call and email several times to Newport Beach Side office to let them know about their decision on no more payments. The TS company always told them that nobody but the sales manager was authorize to do so, and of course this guy was never at his office, so they proceed to take a message and my dad cell number but they never called him, EVER. Consequently, my dad canceled his credit card and finally payments were not made since then. 2 months after that we got a nice mail from USA; of course from Newport Beach Side office's saying that pretty much that my parents were in ''delinquent account'' status and proceeding a possible foreclosure. Well guys here are my question from this situation:

What are the consequences of no paying the TS (foreclosure)? Considering that my parents have B1/B2 tourist VISA is this situation going to affect their VISA's? Is this consider as a crime? i.e. Could they go to jail? Do i need to settle this situation with a lawyer or just let it past?

Please comments will be greatly appreciated.

Thanks

Carlos

The one piece of advice that I can give in the hopes of not letting your parents lose more money is to never pay anyone a large upfront fee to sell, rent out, market, or "get you out of" your timeshare.

Now that your parents are in this predicament, there will be blood-sniffing sharks out to snag your parents with more lies promising them a "release" from their obligations.

Many of us are having problems with Time Shares. Perhaps you can write to your States Attorney Generals Office on behalf of your parents. Its the Consumer Advocates office. Many hundreds of owners have started a complaints forum and although they may not get their money back they may get out of the contract. Those of us in the US are not being allowed to stop our payments. Good luck on the VISA requirements. Perhaps the Bolivian Consul can advise you.

Carlos,

It's just a civil matter. Your parents can be sued in civil court for the money. There is no criminal charges involved. It should not affect their visas. The worst that could happen is the TS company obtains a judgement against your parents. It's anonther matter for them to try collect it. If it were my parents I would advise them to stop paying any money and let it go into default. I doubt that they will pursue it any further since it will cost them time and money and very little chance that they will collect anything since you live in another country. Good luck.

carlosp57 wrote:

Hi guys, Actually as a matter as fact the following story is not mine but my parents.

My parents went on vacation this year in may to Miami. While they were walking up by Collins Ave they got trapped by this bunch of salesmen-time-share cockroach. Of course they trapped with their lies easily because they spoke my parents native language; Spanish. Long story short, the salesmen made them sign-in the time share contract (in English) for 20k i guess and an annual maintenance fee of $650. After my parents came back home from vacation; home is Bolivia, they were eager about they new and first property overseas, and sadly i explained them that is pretty much a self-scam because they agreed on paying that ridiculous amount of money for something that they won't take the most out of it. Finally i convinced, and proved them that was economically unfeasible and advise them to stop making payment. As a consequence, they did call and email several times to Newport Beach Side office to let them know about their decision on no more payments. The TS company always told them that nobody but the sales manager was authorize to do so, and of course this guy was never at his office, so they proceed to take a message and my dad cell number but they never called him, EVER. Consequently, my dad canceled his credit card and finally payments were not made since then. 2 months after that we got a nice mail from USA; of course from Newport Beach Side office's saying that pretty much that my parents were in ''delinquent account'' status and proceeding a possible foreclosure. Well guys here are my question from this situation:

What are the consequences of no paying the TS (foreclosure)? Considering that my parents have B1/B2 tourist VISA is this situation going to affect their VISA's? Is this consider as a crime? i.e. Could they go to jail? Do i need to settle this situation with a lawyer or just let it past?

Please comments will be greatly appreciated.

Thanks

Carlos

All state laws require a timeframe to rescind a timeshare contract. You have to follow the guidelines stated in your CONTRACT in order to rescind within the proper timeframe listed. If the recission was not done within the proper timeframe then I'm afraid your parents now own a timeshare.

Did you go over the contract with a fine tooth comb in the presence of your parents ???? Many people never even look at the written contract after they purchase .... this is the biggest mistake they can do.

Hi Carlos!!

My mom and I are exactly in the same case your parents were 1 year ago. I would like to know how the story ended. Did they declare foreclosure, did that affect their US Visas or had problems entering in the US?

We cannot pay anymore the loans and we have paid thousand of dollars for something we're not using. I have tried selling the timeshare but no luck so I want to just stop paying a single penny, but I'm afraid about the legal consequences, if that's going to affect my Visa or not letting me enter to USA. I want to know what's the best thing to do.

Thank you very much, I appreciate any comment!!!

marialejandrap wrote:

Hi Carlos!!

My mom and I are exactly in the same case your parents were 1 year ago. I would like to know how the story ended. Did they declare foreclosure, did that affect their US Visas or had problems entering in the US?

We cannot pay anymore the loans and we have paid thousand of dollars for something we're not using. I have tried selling the timeshare but no luck so I want to just stop paying a single penny, but I'm afraid about the legal consequences, if that's going to affect my Visa or not letting me enter to USA. I want to know what's the best thing to do.

Thank you very much, I appreciate any comment!!!

The legal consequences are, since you signed a legally binding contract to purchase your timeshare, you're legally bound to fulfill that obligation, especially since you're paying on a loan for the timeshare itself. You will be turned over to collections and eventually foreclosure will occur affecting your credit score, which affects many parts of your life (ie: job hunting, credit applications etc) .

BTW, no sense in trying to sell a timeshare with a mortgage balance still owed .... nobody will buy it.

I doubt seriously that a timeshare foreclosure will affect your visa or prevent you from entering the USA.

The best thing you can do is use, exchange or rent your timeshare until it's paid off then you'll do good to be able to give it away (depending on what you own and timeframe).

Thank you very much for your help. It was very useful!!!

If your parents signed a contract they could not read then the contract is voidable under the laws in most states. This is true no matter the terms of the contract. Moreover, if you parents believed they were actually buying "property", and not a time share, then fraud may be involved, and they are entitled to treble damages in most states if this can be proved. There are also various consumer protection laws available in most states. There is no impact on U. S. visa visitor or immigration status nor are there U.S. criminal law ramifications. Consult a local lawyer to send a letter to the time share company . Consider contacting the Consumer Law Center in Boston, Mass., USA for assistance/referral to a Florida lawyer at no charge. Good luck.

marialejandrap wrote:

Thank you very much for your help. It was very useful!!!

jeannemcg1 wrote:

If your parents signed a contract they could not read then the contract is voidable under the laws in most states. This is true no matter the terms of the contract. Moreover, if you parents believed they were actually buying "property", and not a time share, then fraud may be involved, and they are entitled to treble damages in most states if this can be proved. There are also various consumer protection laws available in most states. There is no impact on U. S. visa visitor or immigration status nor are there U.S. criminal law ramifications. Consult a local lawyer to send a letter to the time share company . Consider contacting the Consumer Law Center in Boston, Mass., USA for assistance/referral to a Florida lawyer at no charge. Good luck.

Why would someone buy a timeshare and not be able to read the contract? Also, timeshares are listed in county real estate records as property owned whether or not you deem timeshares to be real estate.

Thank you for your answers!! The truth is that my mom did buy the timeshare trusting what they said. Our native language is Spanish and the whole contract is in English? We shouldn't have accepted that. At the end we decided not pay anymore and we are going to send a letter to the company called "the seller". Let's see how all this is going to end up.

jayjay wrote:

jeannemcg1 wrote:

If your parents signed a contract they could not read then the contract is voidable under the laws in most states. This is true no matter the terms of the contract. Moreover, if you parents believed they were actually buying "property", and not a time share, then fraud may be involved, and they are entitled to treble damages in most states if this can be proved. There are also various consumer protection laws available in most states. There is no impact on U. S. visa visitor or immigration status nor are there U.S. criminal law ramifications. Consult a local lawyer to send a letter to the time share company . Consider contacting the Consumer Law Center in Boston, Mass., USA for assistance/referral to a Florida lawyer at no charge. Good luck.

Why would someone buy a timeshare and not be able to read the contract? Also, timeshares are listed in county real estate records as property owned whether or not you deem timeshares to be real estate.

And that's the problem .... buying a timeshare simply going by a verbal presentation .... it's only what's in the written contract that holds up in a court of law .... you seem to read/write perfect English .... you certainly could have interpreted the contract to your parents.

marialejandrap wrote:

Thank you for your answers!! The truth is that my mom did buy the timeshare trusting what they said. Our native language is Spanish and the whole contract is in English? We shouldn't have accepted that. At the end we decided not pay anymore and we are going to send a letter to the company called "the seller". Let's see how all this is going to end up.

jayjay wrote:

Why would someone buy a timeshare and not be able to read the contract? Also, timeshares are listed in county real estate records as property owned whether or not you deem timeshares to be real estate.

Also, be very aware of any entity saying they can get you our from under a developer bought contract such as 'the seller' you refer to .... all they want is your large upfront fee then you're history to them ..... there are many scams out there like this.

It is a common tactic in this country for unscrupulous sellers to convince those with limited English skills to sign contracts written in English. These people prey not only on those with limited English, but those with limited education or life experience. They also take advantage of the elderly. I do not think that most of those who speak English read the time share contracts they signed, or probably most other contracts they sign for that that matter. That has just not been my experience as an attorney. Most people skim the contracts, at best. The fact is that time shares are just not a very good deal; spending $15,000 to $30,000 more or less, which I unfortunately did, and then paying yearly fees on top of it, would have bought me a lot of nice condo vacations over the years given the discounts you find online. And I was a consumer attorney who fell for the pitch years ago. Stupid me!!! So, apparently, ANYONE can succumb to the allure, and as we are all on this site, most of us did. Go for it, Carlos. Write the letter. Send it certified mail. Send an email. Send a copy of everything you send to the seller to the finance company. Contact the Florida Attorney General. Let the seller know you mean business and don't give up. Wear them down, that is always a good strategy in any legal matter. KEEP COPIES!!!! Of course, if you can find a lawyer to help you, get one because then they will be that mush more concerned about you. Buena suerte.

jayjay wrote:

Also, be very aware of any entity saying they can get you our from under a developer bought contract .... all they want is your large upfront fee then you're history to them ..... there are many scams out there like this.

jeannemcg1 wrote:

The fact is that time shares are just not a very good deal; spending $15,000 to $30,000 more or less, which I unfortunately did, and then paying yearly fees on top of it ....

I see you finally admitted that it was YOU that bought the timeshare .... once again you write perfect English, and you, especially as a consumer attorney, should have read the contract backwards and forwards and inside and out making sure all promised to you in the presentation was included in the contract. You say that the vast majority of people do not read contracts, but you, as a consumer attorney, SHOULD recommend that your clients always read their signed contracts ????

Also, if you would have researched buying timeshares online you would have learned that no one should buy from a developer ..... they should buy on the resale market getting the same product for pennies on the dollar.

Unless you can prove fraud in the contract then I'm afraid you own a timeshare.

jeannemcg1 wrote:

It is a common tactic in this country for unscrupulous sellers to convince those with limited English skills to sign contracts written in English. These people prey not only on those with limited English, but those with limited education or life experience.

One more time it seems Marial bought (she is co-owner) the timeshare with her mother (see post above from Marial). Marial seemingly writes and reads perfect English = her excuse, as co-owner, for not being able to comprehend the contract is null and void.

I would recommend to Marial to use her timeshare, exchange it or rent it until it's paid off then try to sell it.

BTW, you are correct in that people that buy from a developer pay a huge upfront cost in the thousands of dollars then have to pay a yearly maintenance fee to enable the buyer to use their week. In other words you're buying a very expensive contract in order to use (in the forum of maintenance fees) your unit each year.

I once pointed this out to a, seemingly, very intelligent accountant who was a moderator on another forum ..... his answer was "you've got to be kidding me" like my statement made absolutely zero sense to him. It makes zero sense to me to buy a developer timeshare for mega-bucks then turn around and have to pay yearly maintenance fees to be able to use it.

Hello , I don't have an answer for you. I'm in the same situation . can you and when you find a solution please share it with me .

It depends if you have a timeshare or a right to use . If it's a timeshare the first thing you have to do is contact the resort . I advise you to call them and find the person that handles deeds and titles . Then explain to them that you can't afford it anymore and ask them to take it back . If they agree then they will walk you through the process . They may demand that you pay the next years maintenance fees to give them time to find a new owner. That's a small price to pay to deal directly with the resort and not a scammer .

If that doesn't work then others will offer you ideas to get it out of your name . It's important that you avoid scammers at all costs . The number one rule is :

NEVER pay anyone money upfront that claims they can get you out of your contract !!!

Why is everyone calling it a foreclosure and a mortgage? You don’t own anything with a timeshare, you can’t sell the property and you can’t rent it out. So how is this a mortgage???