Grandview Timeshare and hardtimes

[wildaces123 Junior Member Find all posts View Profile Close wildaces123]

Hello TS4MS members!
Luv the site!

My question to all of you is;
My wife and I purchased a TS at the Grandview in Nov 09.
We financed it with Eldorado Resorts corp.
We had full intentions to Pay if off quickly and use the timeshare.
We are well passed the 5 day rescind/revocation period.

Now the recesion has caught up to us. My wife has lost her job and we will not be able to continue to make the payments for the mortgage.

It there anyway for us to get out of this TS with minimal financial or credit impact?

Any help with this is will be greatly appreciated.

FYI..We are living in Alberta Canada.

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

I'm sorry no one responded to this yet, you are unfortunately in a similar boat to many. I would start by seeing if you can get the resort to take it back. Depending on how much you've already paid, you never know, it might work, particularly if you think you were the victim of deceptive sales practices and make enough noise about it. But some resorts won't even take back fully paid for weeks, because they want the ongoing maintenance fees from owners.

Whatever you do, do NOT pay any upfront fees for any company to "take it off your hands." It's not off your hands until it is out of your name, and that includes the loan. The sad truth is it's unlikely you'll be able to unload it in this market if you owe enough you are having trouble paying.

It is a shame that developers take advantage of people and talk them into taking on debt for what is supposed to be vacation. Buyer beware, but they are slick.

I don't know enough about the credit impact or how to minimize it to comment - but again, DO NOT pay anyone up front to help you out. I'm sorry it's turned into such a burden.

[acoustifunk Junior Member Find all posts View Profile Close acoustifunk]

Good luck!

[Desperate Junior Member Find all posts View Profile Close Desperate]

I am in this exact same boat (though we bought ours in July 09). We told them repeatedly that we could not afford this due to the fact that my wife is a teacher with very limited income, but somehow, we gave in and have been paying for it ever since.... literally. Now, her hours have been cut back and I don't know how we're going to get through this. We've never used any of it and probably never will.

Anyone have any advice?

[kpelascini Junior Member Find all posts View Profile Close kpelascini]

Has anyone been able to successfully rescind after the 5 day period?

[Rancher Junior Member Find all posts View Profile Close Rancher]

My advice would be that if you really can not afford the timeshare to let it go. You will not be able to sell it for anything so I would just walk away from it. They may threaten you but being that far away in Florida I do not think they can do anything to someone living in Canada. Your credit rating may take a hit in the US but it is Canada you are concerned about and I don't think it will affect it here. I do not know this for sure but that would be my feeling.

[gandalf252002 Senior Member Find all posts View Profile Close gandalf252002]

Actually having had credit issues in the past, I think it would effect their credit rating even here in Canada. It all dependson how it was paid for and what company they use to collect. If you are not talking about the mortgage and just the maintenance fees, if they outsource and send a Canadian collection could it most likely will.

I would check before just walking away!

[bjones9942 Senior Member Find all posts View Profile Close bjones9942]

I would try to rent the week on craigslist or ebay for something close to your annual costs. At least that would get you through another year.

[adi Junior Member Find all posts View Profile Close adi]

getting rid of timeshare after 5th day.

Hi All, I am new to this forum, I bought a TS last week 09/01/11 from grandview LV, eldorado resorts, unfortunately till we came back to NY it was 09/04 and as we went through the post/forums on 09/06 we realised that we may not afford it and wanted to rescing. we emailed to the sales director and the verification officer with scanned copies of rescind, and unfortunately by that time, it was already 10:30pm and so we mailed the rescind form through the fedex to eldorado the other day 09/07, i revoked my cc payment the same day, i got an email back saying they cannot accept it as it has already being more than 5days. Its creating lot of stress in my relationship with my boyfriend. Please some body help me of how to get out of this mess. I also called people who give attorney support, they said eldorado wont even respond so they do not want to take part in it..... please help, I dont care abt credit history, but want to know abt its consequences and be prepared....please help anyone guiding me how to deal with this...

[timeos2 Senior Member Find all posts View Profile Close timeos2]

Hi All, I am new to this forum, I bought a TS last week 09/01/11 from grandview LV, eldorado resorts, unfortunately till we came back to NY it was 09/04 and as we went through the post/forums on 09/06 we realised that we may not afford it and wanted to rescing. we emailed to the sales director and the verification officer with scanned copies of rescind, and unfortunately by that time, it was already 10:30pm and so we mailed the rescind form through the fedex to eldorado the other day 09/07, i revoked my cc payment the same day, i got an email back saying they cannot accept it as it has already being more than 5days. Its creating lot of stress in my relationship with my boyfriend. Please some body help me of how to get out of this mess. I also called people who give attorney support, they said eldorado wont even respond so they do not want to take part in it..... please help, I dont care abt credit history, but want to know abt its consequences and be prepared....please help anyone guiding me how to deal with this...

You are/were very close to the 5 days (I thought it was 7 but anyway) so I would press them to allow the rescind. Don't give up trying. The squeaky wheel gets noticed & gets action. Keep after the cc company too. Good luck - hope you can get this canceled.

[adi Junior Member Find all posts View Profile Close adi]

@timeos2.. thanks a lot for yr reply, I am behind cc company, but the guy in florida is not responding...i kept emailing and calling..no reply.. if i kept on requesting is there any possibility he will cancel?

[adi Junior Member Find all posts View Profile Close adi]

thanks for yr concern, i am behind the cc company, but there is no response from florida, what do u suggest keep on calling or emailing... please reply..
thanks again

[timeos2 Senior Member Find all posts View Profile Close timeos2]

@timeos2.. thanks a lot for yr reply, I am behind cc company, but the guy in florida is not responding...i kept emailing and calling..no reply.. if i kept on requesting is there any possibility he will cancel?

Call, email, fax registered letters - keep after them whatever it takes. If you have proof you mailed/FedEx'd your rescind request on that 5th day - no matter what time it was - you have a strong case that you rescinded and they need to cancel the sale. They aren't going to like it nor help you but if you stay after them hopefully they will realize they must comply. Again, good luck. We're behind you and wish you the best in getting this undone so you can sleep again.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

I've mentioned this before, but . . . when I was in direct sales, the home office called and verified all sales. The financials were gone over and questions were answered. Even if it was after the cancellation date, if the telephone call uncovered a problem with the "order" or if the buyer did not now want it, it normally got cancelled. All calls were recorded.

In addition, a reserve was held by the company, 10% of commissions, and commissions paid on orders that stopped being paid were charged back. An order was no longer subject to chargeback when 1/3 of the contract amount was paid in 1/2 of the contract period (I was the only person to get a refund of reserves).

Commissioned sales has the inherent problem of encouraging embellishment by the salesperson. During the pre-talk, the sales person finds out what to say and what not say. The verification phone call helped discover that, and keep the train on the track.

By not doing that (calling new customers to confirm the purchase), I believe timeshare sales organizations do not want to hear what we hear here all the time, so they go ahead and put bad business on the books.

Just one of many unenviable practices, or lack of practices, of the timeshare industry.

[adi Junior Member Find all posts View Profile Close adi]

I did not get any response, since i told them, i emailed all the scanned documents on 5 th day and as it was too late to go to postoffice, i had to send the mail by fedex 6 th day by 8 am... no reply from them so far, just got email saying the fedex mail is invalid as it was sent on 6th day, emails are not valid as they do not accept email/phone call... what the hell, this is USA, i never thought this sort of thing happen here, i put my cc under dispute, i am scare of this legal consequences or would like to know what would be the further thing that may happen..? however i will be behind him through emails... i hope some experienced people would help me get out of this situation..