I need help

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

My wife and I bought a timeshare from Westgate Lakes. We have a set week and it is a good one but we have NEVER been able to use it. It is the week of the Daytona 500. We are still paying on this unit (roughly 4k left) and we do not want it anymore. If I could just give it to someone I would and if that is a possibility please let me know how. We are about to lose our home and we need to cut costs ASAP. If there is anything we can do to get rid of this please let me know. Like I stated, I don't want anything for it we just want to get rid of it.

Thanks,
Spadje

[ttt Member Find all posts View Profile Close ttt]

Chances are you won't be able to give it away till its paid off. It still may be difficult to give away even if it's paid off as many timeshares are worthless in todays market.

[sbkyoshi Member Find all posts View Profile Close sbkyoshi]

Yeah unfortunately timeshare's value is extremely low after the point of sale. Your best bet would be to find a friend that would have some use for it and could at least cover the maintenance fees for you, if not finish paying it off.

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

Well that isn't what I wanted to hear...gah this is horrible.

[sbkyoshi Member Find all posts View Profile Close sbkyoshi]

if you're willing to work a little you can try to rent it out through craigslist for some extra cash to at least alleviate the financial burden a bit. Or you could just default and stop paying it, but that would do wonders on your credit.

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

Westgate in particular may be very nasty about collections. They seem to try to wrangle every dollar they can by any means from owners and even resellers that try to sell Westgate weeks.

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

I wouldn't even know where to begin on renting out the week. I mean it is the Daytona 500 week and I would think that would go well.

[1950bing Senior Member Find all posts View Profile Close 1950bing]

I was touched by your story, sorry to hear where you are right now.
This too will pass. I will pray.

[Ridewithme38 Senior Member Find all posts View Profile Close Ridewithme38]

Daytona 500 is in like a week...I'd put an ad on the the Florida Craigslist advertising to rent it...maybe you'll get a last minute renter

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

Yeah, I wish there was something nice to say, or to be able to help, but if you had been on Internet timeshare forums for the last 15 years, you would know how much you have going against you.

We, fortunately, unloaded our Wastegates quite awhile ago, when you could. The last one we gave to charity, just to put us out of our Wastegate misery, but you can't even do that any more.

Your story is very common, probably playing out with thousands of owners right now.

Sorry.

Oh yeah, I've been to the Daytona 500 . . . before timeshares.

An afterthought . . . you are losing your home (sorry), but, I assume that means you are already taking a credit score hit. What would be so bad about not paying any more on your timeshare? It seems like when you are already taking a hit, this one won't matter, or matter as much.

If it was me, and given the circumstances, I would walk away from it in a heartbeat. You will not gain anything by continuing to pay; it is just money gone that it sounds like you need elsewhere. There are laws against what they can do to you, even Mr. Sleaze. You won't be the only one right now.

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

Have you tried to get the resort to do a deed-back? If your loan is with Westgate and not a 3rd party, perhaps you can tell them you cannot maintain it anymore and they will just let you deed it back to them. If you owe the $ to another company, however, that won't work.
Best of luck to you.

[chriskre Super Moderator Find all posts View Profile Close chriskre]

Sorry this is happening to you. It's tough deciding whether to save your home or save your timeshare. Since you're losing both maybe you should camp out in your timeshare week for a while. Squatters rights are all the rage right now in Florida. Then maybe they'll be glad to take back the deed.

[shaggy Moderator Find all posts View Profile Close shaggy]

If you can't rent it out then I agree with JLB , if you lose your house then go ahead and lose the ts at the same time. If you end up in bankruptcy then let it go that way. My "other family" just got notice of forclosure yesterday. I feel so sorry for both of you. shaggy

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

If you can't rent it out then I agree with JLB , if you lose your house then go ahead and lose the ts at the same time. If you end up in bankruptcy then let it go that way. My "other family" just got notice of forclosure yesterday. I feel so sorry for both of you. shaggy

Sometimes on the Internet it's hard to tell if a post is serious, or joking. I am serious in suggesting to just stop paying.

How much sense does it make to throw away money for something you do not need when you need money to pay for things you do need? The common saying is to not throw good money after bad. You made a mistake, so stop compounding it.

If your credit is already screwed, if you already going through all the threats made by collectors, it's a no-brainer. Let Mr. Sleaze do what he is so good at.