How Do I Get Out of Worldmark Timeshare?
I have a worldmark by wyndham timeshare, I recently increased my points which increased my monthly payment. I have since been let go from work and found out that I am pregnant. I now can not afford the monthly payment and need to figure out how to get of the payment. I have asked about freezing the account and they told me they are no longer granting deferments and if i don’t want the timeshare I have to sell it on my own. So in the meantime while I TRY to sell I will get sent to collections and if I go to collections they said I cant transfer to sell the contract, I would have to be current. I am not sure where to go and what to do. All i know is i can not make the payment anymore and they are not willing to help or work with me. What should I do, I had even told them I was in a really bad place to take this and they said if i had problems just to call them and they could help, and now they are not.
i should have said, not really selling but more just want to have someone take it over. I was not expecting to make anything from this.
unfortunately you only have 2 options here
1) sell it
2) let it go
if you sell it, you may take a loss and have to come to the table with some money, I found this article a couple of months ago so I would suggest you read up on how not to get scammed at http://www.timesharesonly.com/resale-scams
if you decide to let it go, there is really nothing the resort can do, it’ll damage your credit badly, but it sounds like you don’t have a choice.
You are out of options.
Resale is most likely not an option unless you sell it to a friend or relative. The resale market is terrible, BE VERY CAREFUL if someone offers to sale it for you and ask for money upfront, they are just a bunch of scammers. It is ok to pay a few dollars (no more that $30) to post an ad in some really good site. There are some FREE sites that you can advertise and my advise is that you just give it away and let someone take over your payments you can try this:
http://timeshareownerscommunity.com/
http://tug2.net/
http://craigslist.com
http://ebay.com
http://recycler.com/
http://usfreeads.com/
http://www.inetgiant.com/
Another alternative is donation, some charities take these timeshares. You can see a list of them here:
http://timeshareownerscommunity.com/Charities-Accepting-Timeshares-Donations.html
The last is the more painful, talk to your accountant about bankruptcy or just defaulting on the loan.
Good Luck!
The question is how much do you owe and how many points do you have?