Want to dump timeshare... Please help..

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

Hello everyone. I am new this forum, but have had my time share since late 2005.

I hope this is the correct area to post this. If not, please move it. Thanks!

Here is my explanation:
I have a 4000ish points timeshare which my home location is in Las Vegas strip tower 2.

I would really like to sell or dump my timeshare to get rid of it because I do not want to pay for it anymore. I have been paying for it for the last 2 years, and have been feeling like I've been screwed every day I have owned it. I owe around $12k, and am on a 10%. I know, its bad.

Does anyone know if I can just stop paying for it and be ok with it? Or what ways can I go about leaving it, like selling, which I know the market is bad and such.

Please let me know if you would be able to help at all. Thanks!!!!

[bigfrank Administrator Find all posts View Profile Close bigfrank]

You can list it here TS4MS Classifieds - Timeshare Forums

but IMO you are not going to get back what you owe,

[joycapecod Silver Contributor Find all posts View Profile Close joycapecod]

You have come to the right place; unfortunately after you made your purchase.

Unfortunately you will get nowhere close to what you owe on the secondary market. A timeshare is sort of like buying a new car, if you go to trade or sell shortly after buying you lose a boatload as soon as you drive off the lot.

This is a credit contract and if you default this will haunt you for many, many years. You will likely get sued by the developer as well as screwing your credit for the next 7-10 years. Default would be the absolutely last thing you should do.

My suggestion for you is to read, read and read and learn how to get wonderful vacations using this expensive lesson and turn a bad experience in to wonderful memories for you and your family.

Joy

[taffy19 Gold Contributor Find all posts View Profile Close taffy19]

Hello everyone. I am new this forum, but have had my time share since late 2005.

I hope this is the correct area to post this. If not, please move it. Thanks!

Here is my explanation:
I have a 4000ish points timeshare which my home location is in Las Vegas strip tower 2.

I would really like to sell or dump my timeshare to get rid of it because I do not want to pay for it anymore. I have been paying for it for the last 2 years, and have been feeling like I've been screwed every day I have owned it. I owe around $12k, and am on a 10%. I know, its bad.

Does anyone know if I can just stop paying for it and be ok with it? Or what ways can I go about leaving it, like selling, which I know the market is bad and such.

Please let me know if you would be able to help at all. Thanks!!!!

Have you contacted the resort and asked them if they will take it back? If you stop making payments, you will ruin your credit rating but first, they will send the collection agency after you.

If you put an ad here or anywhere else, you may get contacted by some companies that will promise that they can sell it for you. Be very careful because they will ask you most likely to pay a fee upfront. After you have paid that big fee anywhere from a few hundred to a few thousand dollars, you will never ever hear from them again. Some classified ads will cost you up to $50 and they are OK.

There are companies too who promise to take your deed but they won't remove your name from the deed until they have sold it themselves on eBay and the maintenance company will keep sending the bill to you. These are the infamous "post card" companies. When you get a postcard like that in the mail, DO NOT pay the outrageous fee of up to $3,500 but they won't even do business with you because they demand clear title today.

When you sell your timeshare, you will have to give clear title to the buyer so that means that the debt has to be paid off so it will be very hard to sell a timeshare with a debt against it.

I would read some more information here and follow some of the other links too of companies that you can trust.

[katie Member Find all posts View Profile Close katie]

I'm assuming you have a Hilton timeshare. If so, I suggest that you make the most of it. You'll never get back what you paid for it but you can take advantage of what HGVC has to offer before selling it.

HGVC is a very flexible timeshare system. During the HGVC Club Season window (9 months before checkout) you can book any size room for any number of nights (3 night minimum). With HGVC you can bank and borrow points so you can opt to stay for a longer length of time and/or opt to stay in a larger unit every 2 to 3 years.

You can also convert you HGVC points to HHonor points for hotel stays at any of the hotels in the Hilton Family (Hampton Inn, Homewood Suites, Doubletree, Embassy Suites and Hilton, Hilton Garden Inn, Conrad and Waldorf Astoria). To get the best bang for the buck, we generally use our HGVC points at the more expensive Hilton hotels. We just came back from Paris & Rome where we used our HGVC points for our entire trip. You can also supplement your HHonor points with the AMEX HHonors card.

As a HGVC member you automatically receive Silver VIP status into the HHonors program. The best hotel reward deal is the VIP-Only Vacation reward for HHonors members with VIP status - 6 nights in a category 6 for 175,000 HHonors points

There is also a special 4 night "AXON' hotel award is for AMEX Hilton Honors Platinum Cardmembers only. It gives you four Hilton HHonors reward nights at any Category 5 or Category 6 Hilton Family hotel worldwide for 125,000 points. The same stay would normally require 140,000 or 160,000 HHonors points.

Here are some threads that you might find helpful
Hilton point value - Timeshare Users Group Online Community Forums
HGVC--Using points for hotel stays - Timeshare Users Group Online Community Forums
How have you used your HGVC ClubPoints? - Timeshare Users Group Online Community Forums

Good Luck

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

Your best chance may be to refinance via a home equity or personal credit line (if you are able) so you can satisfy the developer loan and be able to sell.. You'll still be upside down (way upside down)- but you'll at least be on the path to freedom and you'll be out of the m. fees..

The only other realistic option is to use or rent the property while you pay the loan down.. Hilton does have some restrictions on rentals that weren't in place a few years ago- so make sure you do your research first..

Good luck!