I am a former TIMESHARE EMPLOYEE IN MEXICO

Hi there! I bought a timeshare in Mexico, they gave me trading amount for my las vegas timeshare. But i have to pay the TRM for them to take the responsibility of selling my property in vegas. I dont have the money to pay them right now. What will happen if i dont go thru with TRM to sale my vegas timeshare and just keep it.?? Please help . Thank you

An important question: How long ago did you do this transaction?

Hello again. My Mexican timeshare, I know is strictly in Mexico. But They have a mailing address (a Suite#) and phone number in the U.S., specifically Florida. What repercussions (if I walk away not paying) will there be with that U.S. "branch?" Again, thank you for your expertise

April 2019 when the new timeshare bought in Mexico Please help me clarify, what should I do? Thank you so much

Hello. We own a timeshare in Cancun, MX as well. This is paid in full and maintenance fees paid up-to-date. We bought this in 2005 and it will end in 2036. It is a one bedroom, floating week, annually. I believe it is deeded? It is not a chain. NYX Cancun is the name of the resort. The original company sold it, and it is now under new ownership. We received a letter indicating that we were lucky that they will honor our contract, although many things were not honored, which were a part of the original contract. We were told nothing we could do about that.

We have used the timeshare quite a bit, but now it is becoming very difficult to travel due to my spouse's disability.

I know it is very difficult to get rid of a timeshare! I had contacted ResortCom, who handles the timeshare, and asked if they have a buy back program and was told no they do not.

After reading several postings it sure seems like I won't even be able to give it away to anyone!

What would happen if I don't pay the next upcoming maintenance fee, which will be due in February 2020? I am uncertain of the repercussions on this.

Many thanks for any information.

margaretk122 wrote:

What would happen if I don't pay the next upcoming maintenance fee, which will be due in February 2020? I am uncertain of the repercussions on this.

Given what you have described, the worst that will likely happen will be facing a barrage of collection calls and letters. They might threaten to report you to credit or collection agencies. But if you stop paying (which looks like your cheapest option right now), they will just cancel and terminate your membership after several attempts to collect your maintenance fees.

There have been some reports about resorts reporting delinquent owners to credit agencies and having credit scores dinged but that does not always happen. Even if it does, it would not be the end of the world for you.

Thanks for the information. I am not sure what I will do! I really just can’t use it anymore for the reason I stated. I had tried exchanging with II thinking travel in the US may be a bit easier, but it was still difficult. I may just not pay the maintenance fee next year and see what happens, but I hate the idea that my credit score might take a hit! 🙁

lancec13 wrote:

margaretk122 wrote:

What would happen if I don't pay the next upcoming maintenance fee, which will be due in February 2020? I am uncertain of the repercussions on this.

Given what you have described, the worst that will likely happen will be facing a barrage of collection calls and letters. They might threaten to report you to credit or collection agencies. But if you stop paying (which looks like your cheapest option right now), they will just cancel and terminate your membership after several attempts to collect your maintenance fees.

There have been some reports about resorts reporting delinquent owners to credit agencies and having credit scores dinged but that does not always happen. Even if it does, it would not be the end of the world for you.

Hi Lance! Sorry to bother u again, ur expertise ate very helpful. Thank you! My transaction was done last April 2019 when the new timeshare bought in Mexico. We dont have money to pay TRM for them to sell our las vegas right now. Please help me clarify, what should I do? If I DONT deal with it and just keep the las vegas. Thank you so much.

lancec13 wrote:

An important question: How long ago did you do this transaction?

juvyq wrote:

My transaction was done last April 2019 when the new timeshare bought in Mexico. We dont have money to pay TRM for them to sell our las vegas right now. Please help me clarify, what should I do? If I DONT deal with it and just keep the las vegas.

Well since the purchase was made in April, you have passed your rescission period. It sounds like you fell for that developer sales pitch where they promise to trade in the value of what you currently own and apply that "value" towards" the purchase of another unit. I'm guessing they told you that they no longer wanted your original unit but that you could keep it and then buy the new unit for the trade-in price.

So, again I'm guessing, you now own two units. If you want to keep the one in Las Vegas, that's your choice. As for the new one you bought, there are a couple of questions. How much did you pay for it and, if you still owe money on the purchase price, how much more do you owe?

Hi am a very naive and stress to the point that we just want to get out of the presentation that lasted a good 8hrs😔 i paid $14,000 and I took a loan to pay it paid it right away when i got back. So i dont have to deal with the exchange rate. I pray and hope i learned from this. So they will not get back to me and ask me for the trade in value that they gave towards its, which is a sale tactic they use, which is a lie anyway coz at the end we didnt get a good deal . Never, never again. Thank you.

lancec13 wrote:

juvyq wrote:

My transaction was done last April 2019 when the new timeshare bought in Mexico. We dont have money to pay TRM for them to sell our las vegas right now. Please help me clarify, what should I do? If I DONT deal with it and just keep the las vegas.

Well since the purchase was made in April, you have passed your rescission period. It sounds like you fell for that developer sales pitch where they promise to trade in the value of what you currently own and apply that "value" towards" the purchase of another unit. I'm guessing they told you that they no longer wanted your original unit but that you could keep it and then buy the new unit for the trade-in price.

So, again I'm guessing, you now own two units. If you want to keep the one in Las Vegas, that's your choice. As for the new one you bought, there are a couple of questions. How much did you pay for it and, if you still owe money on the purchase price, how much more do you owe?

juvyq wrote:

I paid $14,000 and I took a loan to pay it paid it right away when i got back.

Well I guess you have to pay the loan back to whatever lender lent you the money. I am assuming from the info you gave that you now own two timeshares. The first and most important thing I will tell you is to watch out for any other scams coming your way, usually via phone calls. You might get phone calls, junk e-mails, or see Google ads telling you that they can sell, rent out, or "cancel" your timeshares. Those are usually scams.

As for the second one that you purchased, keep in mind that it is worth nearly zero dollars on the resale market even though you paid $14,000 for it. If you no longer want it because of the ongoing maintenance fees, then you can stop paying the maintenance fees and let them terminate your membership. The other sensible thing of course is to use what you paid $14,000 for.

What a stupid moved we did, but it was done and cant change tit. We will try to use it as much as we can. But of course paying 2 now is crazy. Thank you so much for all the info. Will just have to learn how to say NO next time. I will definitely watch out for the scams coming my way again. This forum help me at least clarify my doubt about me getting in trouble coz i choose not to pay TRM to sell my 1st timeshare. Thank you ....

lancec13 wrote:

juvyq wrote:

I paid $14,000 and I took a loan to pay it paid it right away when i got back.

Well I guess you have to pay the loan back to whatever lender lent you the money. I am assuming from the info you gave that you now own two timeshares. The first and most important thing I will tell you is to watch out for any other scams coming your way, usually via phone calls. You might get phone calls, junk e-mails, or see Google ads telling you that they can sell, rent out, or "cancel" your timeshares. Those are usually scams.

As for the second one that you purchased, keep in mind that it is worth nearly zero dollars on the resale market even though you paid $14,000 for it. If you no longer want it because of the ongoing maintenance fees, then you can stop paying the maintenance fees and let them terminate your membership. The other sensible thing of course is to use what you paid $14,000 for.

So, I contacted my resort company and asked if I could simply give them back my timeshare. Here is what they sent me (looks like they may): NYX Hotel Cancun Ref: Cancellation request 220- Let it be known that we the undersigned, this ______ of _______________ 201__ do hereby give up all rights, title and interest in the contract XXXXX at the NYX Hotel Cancun. It is further agreed that all monies paid to date will remain the property of the NYX Hotel Cancun under the membership purchase agreement and the rules and regulations. *It is important to note that the Resort, in its sole discretion, has the right to refuse all Voluntary Surrender Requests during any point in the process, even if materials and fees have been properly submitted. In the case of denial, the Voluntary Surrender Fee indicated above will be refunded to the member/broker. As Per membership rules and regulations, the Resort reserves the right to alter contract modification fees without prior notice to members or to brokers.

I guess I am not sure what they mean by: "the Voluntary Surrender Fee" (none was mentioned) and "the right to alter contract modification fees"

What you see is all the letter said.

I would try to find out how much these fees are.

Another thought is to just not pay the fees and let them terminate the contract.

I signed a contract with a Mexican vacation time. I went into the office to request to cancel my contract the next day, the sales person told me I cannot cancel because I already used the benefit because they moved me in. The only thing they can do was to change the contract For a smaller package. They originally moved me in for 4 nights. But when I wanted to cancel the contract. They said I have to check out right away. Then I asked I though I was using my benefits already, so why do I need to check out. She then said that is not my benefit. Is nowhere written on the contract that my benefit started once I moved in. Now they told me I can’t cancel my contract even though I am within the 5 day rescind period. What else can I do?

sandyl202 wrote:

Now they told me I can’t cancel my contract even though I am within the 5 day rescind period. What else can I do?

Yes you can rescind your contract if you are within five days. Your contract that you signed should have instructions as to how to rescind. What they told you was a lie!

They lied to you .

Do not bother talking to them again as they are full of lies. There should be an instruction on how to cancel the contract. Do the written portion. I do not suggest to personally hand in the cancellation letter as they will lie that they did not receive it. If you need to do so, take videos. Send the cancellation letter. There should be a DHL in your area and make sure to keep records of your receipt and a copy of your cancellation letter. The day you sent the letter will count in the five-day cancellation period.

I have a question. Is it safe for me to take advantage of the low-cost trip that they offer, even though I know that I will not be buying a timeshare. there is literally no way that I'm going to buy a timeshare. My question is, will they really let me out of the presentation after 90 minutes and is it safe for me to go there.

kellyc716 wrote:

Is it safe for me to take advantage of the low-cost trip that they offer, even though I know that I will not be buying a timeshare. there is literally no way that I'm going to buy a timeshare. My question is, will they really let me out of the presentation after 90 minutes and is it safe for me to go there.

It's safe in the sense that it's not dangerous. What is the "low-cost trip" that they are offering? Remember, subtract one day for check-in, one day for check-out, and one day for the sales presentation. See what you are left with. Then ask yourself if the "low-cost trip" is worth it.