Home Blog Page 2

Mexico Timeshare Scams to Avoid

By
Evelyn Poulsen
-
0
Mexico Timeshare Scams to Avoid

Mexico Timeshare Scams to Avoid

While there are many genuine and attractive options for timeshare ownership in Mexico, it is important to be aware of timeshare scams to protect yourself. It is true that there are many satisfied and happy timeshare owners although some people have had bad experiences. The upside to owning a Mexico timeshare is it gives you a chance to plan ahead for luxury vacations at a variety of beautiful resorts within Mexico.  However, it is important to be aware of timeshare scams as there are individuals and companies out there who make a living off convincing innocent timeshare owners they are legitimate consulting companies, when in fact they are only out to scam them. Continue reading below so you will know what Mexico timeshare scams to avoid.

Mexico Timeshare Scams

In the past, scams related to Mexico timeshares typically occurred by fraudulent timeshare companies trying to illegally sell timeshares that they did not own, or timeshares that did not even exist. However, we now see a different approach being taken by scammers.This new approach is focused on current Mexico timeshare owners and the scam happens when fraudulent services to resell or cancel an existing timeshare are offered. Most scammers claim they can sell your old timeshare, but only if you purchase a new timeshare with their company at the same time or pay an upfront fee. Often times they claim they already have a willing buyer who wants to purchase your old timeshare. Beware of any companies who offer these type of resell services so you can protect yourself and keep your hard earned money safe.

Consultant Scam

In recent news, the American Resort Development Association (ARDA) announced to timeshare owners that timeshare scammers were falsely using their name in order to scam genuine timeshare owners. Operating as “Resort Consulting Advocates”, this fraudulent company took advantage of several timeshare owners claiming they had interested buyers for timeshare properties that they wanted to sell, when in fact they only charged them an upfront fee and then disappeared. “Resort Consulting Advocates” even went as far to create fraudulent sale documents and contracts with a “100% guarantee” that the sale would go through, but the sad reality was that no buyer truly existed.

Resell Fraud

“Resort Consulting Advocates” is only one of many timeshare scam companies presenting themselves as legitimate companies in hopes of scamming timeshare owners. To avoid getting caught, these dishonest companies regularly change their company name to confuse their victims.  Ensure you are extremely cautious if you are contacted by a timeshare resale, rental or cancellation company as it is very likely that the company is run by scammers. The best way to protect your timeshare investment is to only deal directly with the timeshare company you purchased your Mexico timeshare from. Any concerns or complaints regarding your timeshare ownership should be directed to a staff member, and never involve a third party who is most likely a scammer in disguise.

Have You Been Scammed?  

Do you believe you have you been scammed and you are not sure what is the next step to take? To begin with, immediately contact your timeshare company and alert them of the situation by providing all details and information. By doing so, you are helping genuine timeshare owners so they can avoid becoming scam victims themselves. It is also a good idea to contact the local authorities and file a complaint with the Better Business Bureau. If we all work together, we can prevent other innocent timeshare victims from falling prey to the same type of Mexico timeshare scam.

To conclude, never, ever pay an upfront fee to a third party offering Mexico timeshare resale assistance. Research any company that offers this kind of services as the majority are Mexico timeshare scammers. Always go directly to the company you bought your legitimate timeshare from, and never involved a third party. If you follow these safety measures, you will be safe from Mexico timeshare scammers and can enjoy your beloved timeshare investment as you deserve.

Escape to Garza Blanca

By
Evelyn Poulsen
-
0
Escape to Garza Blanca

Escape to Garza Blanca

Well regarded as one of the most luxurious hotels in all of Puerto Vallarta, Garza Blanca is an upscale all-inclusive beach resort located on one of the best private beaches in Banderas Bay.  Garza Blanca is part of the TAFER Hotels & Resorts which feature award winning, distinctive vacation properties.

Natural Paradise

If you head about 10 minutes south of downtown Puerto Vallarta, you will find the stunning Garza Blanca resort and the natural paradise that awaits you. At Garza Blanca, there are a wide variety of hotel packages are available that are perfect for family vacations, or a romantic getaway with your loved one.  Situated with the lush, green Sierra Madre Mountains as a backdrop with the sparkling blue-green Pacific Ocean waters below, Garza Blanca also offers Five-Star services and amenities in this idyllic setting that can’t be beat.

Luxury Suites

All the luxury suites at Garza Blanca have been specially designed to make sure your every whim is met and satisfaction is guaranteed. Garza Blanca has a strong commitment to provide only the highest level of service and you can be sure to receive fabulous signature services including exclusive butler attention, high-end luxury amenities and a premium honor bar.

Here are some features of our spacious and opulent Garza Blanca Suites:

  • Private terrace with jacuzzi with oversized hammock
  • Equipped kitchen with polished granite worktops
  • Walk-In Closet
  • Premium mini bar with sodas, beers, bottled water and juices and coffee/tea maker
  • Chic bathroom accessories
  • Pillow menu
  • Personalized check-in; Room Service from 7:00 am to 11:00 pm
  • 24-hr Bilingual Concierge Staff
  • Temperature-controlled outdoor Jacuzzis
  • White sandy beach
  • Ocean views from gym and the Health & Wellness Spa
  • Underground and Valet parking
  • Safe-deposit box (at Front Desk)
  • Same day laundry and dry cleaning service
  • Babysitter services (prior arrangement)
  • Live music (weekly)
  • On-call medical care

Gourmet Dining and Amenities

In addition to the fabulous suites, Garza Blanca boast gourmet restaurants, stunning infinity pools, and a wide variety of elegant resort activities on both land and sea await you to make your vacation memorable and timeless. In the mood for a romantic meal? Try Blanca Blue Restaurant and Lounge which features elegant avant-garde fine dining that combines delicious Mexican flavors with creative flair.  Do you have a juicy steak in mind? Head to Bocados STK for fine cuts, grilled chicken, seared fish and fresh seafood. In no hurry to leave the sparkling pools to eat? There is no need to leave as Agua Azul gourmet snack bar allows you to order food while taking in the stunning views of both the infinity pool and the powder-white sands and crystalline waters of Garza Blanca’s beach. Also, Garza Blanca’s staff is highly trained, professional and courteous and ready to assist you with any requests to help make your stay even better.  Lastly, with a world-class spa on site, you will find it easy to let the stress of your daily life wash away as the cool ocean breezes and warm Mexican sun inspite and invigorate your soul, body and spirit.

Ready to make your reservation? Contact Garza Blanca today…you deserve to be pampered and enjoy the best that life has to offer!

How to take advantage of Garza Blanca’s Referral Program?

By
Evelyn Poulsen
-
0
How to take advantage of Garza Blanca’s Referral Program?

How to take advantage of Garza Blanca’s Referral Program?

Have you heard about Garza Blanca Residence Club’s Friends Count Forever referral  program and want more information? The referral program gives you a change to start earning redeemable credits or cash rewards anytime you refer eligible friends or family members.

Share the Experience

Garza Blanca Residence Club membership is an excellent way to enjoy great vacations at luxurious, beautiful resorts. How about sharing the fun with your close friends and family so they can enjoy great vacations, too?  If you recommend a friend or family member to become a member of Garza Blanca’s Residence Club, you earn some benefits for yourself as well.

 Simple steps

Here is how you can share your experience with your loved ones, and receive amazing benefits as well. First, refer an eligible friend or family member by inviting them to join the Garza Blance Residence Club. If they do, you will receive bonus credits or cash for each eligible referral and watch your rewards grow. You can then redeem your bonus credits or cash in exchange to spend even more time at your favorite vacation spots.

How to Register

There are two schemes in place to facilitate your referrals. If you bring a friend with you on your vacations, Make sure to register them at least 90 days ahead of check in time. Their contact information must be included in order to become eligible for your rewards. One couple at a time is allowed. Want to send a friend in your place as your guest? If so, make sure to register your friend as a referral at least 30 days before they check in. Same one couple rule applies when you send a friend or bring them along with you.

Types of Rewards

What kind of rewards are we talking about? Rewards include both cash or credit options in the form of a virtual voucher. You can choose which option you prefer when you register your guests ahead of time. Send an email to friendscount@garzablancapreserve.com or call the Friends Count toll free line at 1-855-330-7218 so they will know which reward suits you best. The best part is you can use your non-refundable, non-transferable Friends Count Rewards Credits to make reservations in any season at Garza Blanca Resort and apply them against prepaid services. Remember, all reservations must be made within the year before the credits expire 12 months from the date they are deposited in your account.

Eligibility Requirements

Who is eligible to be a referral? Qualified referrals must be American or Canadian residents and between 35 and 70 years old. Married referrals must attend the presentation and couples count as one referral.

Why keep the secret of amazing vacations to yourself? Share the fun and invite your friends to attend a presentation at Garza Blanca Residence Club. They will not be disappointed, and you get a little something back as well. Win win situation for everyone!

Advantages & Disadvantages of Timeshares

By
Evelyn Poulsen
-
0
Advantages & Disadvantages of Timeshares

Advantages & Disadvantages of Timeshares

Are you considering buying a Mexico timeshare, but you want to know more about the advantages and disadvantages of timeshares? As with any purchase, there are pros and cons to buying a Mexico timeshare, and it is a wonderful idea that you know what all of the advantages and disadvantages of timeshares before you decide to purchase. We have provided the top advantages and disadvantages of timeshares in Mexico below, and they will assist you in determining if a Mexico timeshare is a great investment for you and your family.

Timeshare: Low Maintenance

If you plan on vacationing in Mexico a week or two each year, then a timeshare is an excellent choice over buying a regular vacation home. If you buy a regular stand-alone vacation home in Mexico it won’t be used very often, but you will still have to pay for all the maintenance and repairs year-round. If you buy a Mexico timeshare, then will only be paying for the actual time that you use the timeshare, which is why a timeshare is an affordable option for buyers. There are maintenance fees with a timeshare, but they are divided between each of the timeshare members and everyone will pay the same fee so there is no large maintenance fees that will overwhelm you.

Guaranteed Vacation Destination

Another advantage to being a Mexican timeshare owner is each and every year you will have a vacation destination guaranteed. Everyday life can make people skip their vacations, but when you are a Mexican timeshare owner your vacations are planned ahead of time and this will ensure that you and your family can enjoy a wonderful vacation together. If the timeshare that you purchased is with a timeshare group, then you can enjoy vacations at other destinations in Mexico, too. For example, the Villa Group Timeshare Resorts have resort properties in other sought out destinations, which include Loreto, Riviera Nayarit, Cabo San Lucas, Puerto Vallarta, and Cancun. If you are a timeshare member with the Villa Group, then you can travel and vacation at these other resorts where you can enjoy other top beaches, too.

Create Lasting Vacation Memories with Family and Friends

Will you be sharing your Mexico timeshare with your family members or friends? Perhaps you want your vacation experience to be spent with someone you haven’t met yet? Usually, you have the option of sharing your timeshare with others and some even allow you to use it for a charity auction prize, but it will actually depend on the timeshare company’s rules and regulations. You may also have the ability to rent out your timeshare time if you are unable to use it that year, but you will need to look over your timeshare contract to make sure you can do that. If you can do that, then this would provide you with additional money for your timeshare vacation. 

Are There Downsides to Timeshares?

There are disadvantages with a Mexican timeshare too that you should think about. The maintenance fees could increase annually with a Mexican timeshare. Usually the maintenance fees are quite affordable, but the maintenance fees will have to be paid even if you don’t use the property. If you decide that you don’t want to keep your Mexican timeshare later, you should know that the timeshare are generally not easy to sell. Used Mexican timeshares are sold at a discounted price especially compared to a new timeshare unit. You may lose money if you sell your Mexican timeshare, and you will not be able to claim a capital loss with the IRS on your personal taxes as you could if you had purchased a traditional real estate property. However, when you look at all the benefits of having a timeshare membership, you can see that they greatly outweigh any downsides.

In conclusion, you have just seen the advantages & disadvantages of timeshares in Mexico. Is purchasing a Mexico timeshare worth the investment?

What is a Timeshare Resale?

By
Evelyn Poulsen
-
0
What is a Timeshare Resale?

What is a Timeshare Resale?

Timeshares are becoming very popular because they allow people to prepay for their future vacation accommodations at an affordable, fixed price. A timeshare is a shared property that has many owners. A timeshare is also known as vacation ownership, and the reason that they are becoming very popular to purchase is because they allow families of all budgets to plan and prepay for their yearly vacations at top resorts. Another reason that timeshares are becoming more popular to purchase, is that there are no maintenance required for a timeshare property. No longer will you have to spend your vacation time making repairs to a property as they will be done for you, which gives you time to relax and actually enjoy your vacation with your family.

Timeshare Property Ownership vs Real Estate Property Ownership

Have you been researching timeshare information, but don’t know if investing in a timeshare is a good choice or if you should invest in purchasing real estate property? Which is better, a shared timeshare property or a privately owned real estate property? The main difference between a timeshare property and real estate property is that timeshares are owned and shared by many owners, and real estate properties are owned by one single owner. In a timeshare property, all of the owners have an equal amount of financial interest and each owner will get to use the timeshare property during the week or weeks that they have selected each year. A real estate property ownership allows the single owner to have access to the property any time that they want. There are no designated times to use the real estate property.

The Cost to Maintain Your Property

There is another difference with a timeshare property ownership and a real estate property ownership, which are the maintenance costs. All timeshare property owners will divide the maintenance fees cost equally, and they will be paid in small monthly payments. The maintenance fees monthly payments are approximately $20 up to $50, and the maintenance fees will cover all the repairs and upkeep for the landscaping and common areas at the property, all repairs to the timeshare unit, and amenities that the resort provides to the timeshare members. Timeshare members will not have to do any of the work themselves so they can relax and enjoy their vacation. With real estate property ownership, all of the maintenance and repairs will have to be paid by the sole owner of the property, so if you are not a handyman or woman, then you may end up paying a lot of money to hire professionals to tend to the repairs for your real estate property.

What is a Timeshare Resale?

While you were researching timeshare ownership and real estate property ownership, did you see something about timeshare resales and you want to learn more? What is the difference between timeshare ownership and timeshare resales? A timeshare resale is a timeshare property ownership that is sold by the current owner to a new owner. A timeshare resale is not purchased or sold from the timeshare resort. A good thing about timeshare resales is the price. The price is usually always sold at a lower price, which is perfect for families that are on a budget. Timeshare resales are sold at a lower price because there are no sales incentive costs added to the price, and there are no marketing fees added to the price either. When timeshares are sold at a resort these added costs are hike up the sales price.

Timeshare Resale Scams Are Common

Buyers can expect timeshare resales to cost at least twenty percent to fifty percent below what a similar timeshare would cost when it is bought from the resort. A timeshare resale will be sold at the fair market value of the timeshare and no added costs are added to the price. Be aware that timeshare resale scams are common though. In fact, most timeshare scams that occur these days are the result of third party fraudulent companies that falsely present themselves as legitimate timeshare providers. They scam victims by requiring an upfront fee or processing fee to be paid in order to use their services. Once the victim has paid, the scammer will disappear as it is likely that they did not even have a genuine timeshare resale product. Remember, to protect yourself it is best to only work with a respected timeshare provider and always buy directly from the resort. Ready to plan ahead for all of your vacations, make lasting vacation memories, and save money? If so, consider a traditional timeshare so you can make your money count and avoid potential scams at the same time. Traditional timeshares are a safe way to save you money for future vacations so you and your family can create amazing memorable vacations now and in the future as well.

Consult with a Licensed, Bonded, and Certified Title Company

If you are going to purchase a traditional timeshare or a timeshare resale, you should make sure that you only use a licensed, bonded, and certified title company. A professional title company will be able to handle all the paperwork for a timeshare purchase. They will oversee the deed preparation to make sure it is done properly, make sure the escrow of the funds are correct, and handle the recording and closing statements for you all for one fee. Once the title company has this process completed, they will send the paperwork to a licensed attorney who will review all of the title work to make sure everything is completely legal and ensure your timeshare purchase is in order.

Now that you know all the information about a timeshare ownership are you ready to buy one?  Right now is the time that you can take control of your financial vacation future.

Escape to Hotel Mousai

By
Evelyn Poulsen
-
0
Escape to Hotel Mousai

Escape to Hotel Mousai

Dreaming of escaping on a luxury vacation at an ultra exclusive, posh locale? Are your discerning tastes of the highest standards and will only settle for the best? You need look no further than Hotel Mousai.  Situated south of beautiful Puerto Vallarta, Mexico and designed exclusively for adults only that are 18 years and older, Hotel Mousai makes for the perfect adults only escape. Make time for you and your loved ones! Revive and replenish your soul and spirit with a nurturing, contemporary vacation experience, Hotel Mousai. Offering unparalleled five star service and amenities, you are guaranteed a deluxe, lavish vacation at Hotel Mousai. In addition to Hotel Mousai´s unique and exclusive amenities, you will also pamper yourself with unlimited access to the luxurious facilities at Garza Blanca Preserve Resort & Spa located right next door.

Grand, Yet Cozy 

Hotel Mousai has a wide array of exquisite residences to please even the most worldly traveler. Right now we will focus on the the nearly 1100 sq.ft  Mousai Suite which is unlike any other suite you have seen. Featuring a deluxe, king size bed with high quality finishes throughout the entire space, the stunning ocean views from your private terrace will leave you breathless. Spacious, well equipped rooms are completed with a fabulous gold-tiled jetted plunge pool perfect for a midnight swim, andthe private terrace is a dream made reality. Pamper yourself and relax on your mini-lounge sofa.  There’s no rush today! Take time for yourself getting ready; shower, relax and enjoy the moment in your luxury en suite bathroom. Ready for a date night in? Call room service and request a special bottle of wine and chocolate covered strawberries. The night and your vacation is yours to enjoy!

Mousai Suite Amenities:

  • Large, private terraces with gold-gilded tile jacuzzis with stunning Banderas Bay vistas
  • Refined, double vanities finished with onyx pedestal sinks
  • iPad ambience system that controls lights, electric curtains and mood preferences
  • Contemporary, motorized curtains operable from the suite’s iPad
  • Richly textured walls with soothing metallic pearl, gold and silver paint tones
  • Top end, comfortable 400-thread Egyptian bed linens
  • High fashion, classic Italian porcelain flooring

Are you ready to get away for some romance in style? The Mousai Suite at Hotel Mousai is the place to be.  Just one night in the Mousai Suite and your world will be elevated to the next level. Treat yourself like royalty and visit the timeless, elegant and opulent Hotel Mousai today. This is your moment.

New Timeshare Scams

By
Evelyn Poulsen
-
0
New Timeshare Scams

New Timeshare Scams

There are many legitimate and excellent choices for timeshare ownership in Mexico. There are many more satisfied timeshare owners very happy with their purchase than those who have had bad experiences. Owning a timeshare offers a chance to enjoy luxury vacations at a variety of beautiful resorts located throughout Mexico.  Be aware that there are scammers out there who want try to take advantage of timeshare owners by creating fraudulent companies to convince innocent timeshare owners they are legitimate consulting companies, when in fact they are only out to scam. Below we will share some of the new timeshare scams you will want to avoid.

Timeshare Scams

Scams from the past usually happened when fraudulent timeshare companies tried to sell timeshares illegally. Today, we see scammers using new timeshare scams to try to scam people out of their hard earned money. This new approach involves going after current timeshare owners by offering them services to resell or cancel their existing timeshare scam. They may even offer to sell your old timeshare for you but only if you purchase a new timeshare with their company at the same time. Sometimes, they may even claim they already have a willing buyer who wants to purchase your old timeshare. The number one warning sign that you are being scammed is when they ask you to pay an upfront fee.  Beware of any companies who offer these type of services in order to protect yourself and safely preserve your timeshare investment!

Scammers Posing as Consultants

Recently, the American Resort Development Association (ARDA) notified timeshare owners that timeshare scammers are falsely claiming to work in conjunction with its association. Working under the name of “Resort Consulting Advocates”, this fraudulent company scammed several timeshare owners by claiming to have interested buyers for timeshare properties that they wanted to sell. “Resort Consulting Advocates” even went as far to create false sale documents and contracts which included a “100% guarantee” that the sale would go through, but the reality was they had no buyer. Instead, they fraudulently charged the victim an upfront fee and then were gone without a trace.

Fraudulent Resellers

“Resort Consulting Advocates” is one of several timeshare scam companies posing as legitimate companies to try to scam timeshare owners into using their services. Many times these companies regularly change their company name in an attempt to avoid getting caught. Because of this, innocent timeshare owners fall victim to these types of timeshare scams. Make sure you are extra cautious if you are contacted by a timeshare resale, rental or cancellation company.  It is most likely that the company is run by scammers so it is recommended that you avoid them at all costs. The best way to protect your timeshare investment is to only deal directly with the timeshare company you purchased from. If you ever have any concerns or complaints regarding your timeshare ownership, direct them to a trained staff member and not involve a third party who may be scamming to steal your hard earned money.

Scammed?  What to do next

Have you been scammed and not sure what to do next? If so, make sure to immediately contact your timeshare company to alert them of the situation and provide all details and information you have available. By sharing your experience, you can help the genuine timeshare company warn other members so they can avoid being scammed themselves. It is recommended to contact the local authorities as well, and if you choose you can file a complaint with the Better Business Bureau. We should work together to prevent other innocent timeshare victims from falling prey to the same type of timeshare scam.

Upfront Fees are a Red Flag

In conclusion, never pay an upfront fee to a third party that offers resale assistance related to your timeshare. Make sure to take plenty of time researching any company that offers this kind of services because most are timeshare scammers in disguise. It is best to always go directly to the company you bought your legitimate timeshare from, and never involved a third party who claims they can help you. By practicing these safety measures, we hope you will be safe from scammers and can enjoy your beloved timeshare investment for many years to come.

Fractional Ownership: Is it a Timeshare?

By
Evelyn Poulsen
-
0
Fractional Ownership: Is it a Timeshare?

Fractional Ownership: Is it a Timeshare?

Have you heard the term fractional ownership and are not quite sure what the means? Are you wondering if fractional ownership is a timeshare or something else? Both Fractional ownership and traditional timeshares are based on shared ownership models, but there are major differences between the two investment types. Let’s cover some of the major distinctions between fractional ownership and traditional timeshares here.

Property size

For the most part, traditional timeshares are based on a business model so that each unit will have up to fifty-two owners. This means each owner only gets to spend one or possibly two weeks per year at their property. This is quite different when compared to fractional properties. Fractional properties only have four to sixteen owners per unit, so you are allowed much more time per year at your property if you invest. Fractional owners often vacation between three to twelve weeks per year at their property, and timeshare owners can only go for a week or two. This is a major difference between fractional ownership and traditional timeshares.

Maintenance and Upkeep

With so many owners involved in a traditional timeshare, it is harder to keep your unit in good working condition. With a new family coming in nearly each week, it is to be expected that traditional timeshare properties wear out much faster. It is hard to know which owners will treat the property with respect and keep it clean and tidy while on vacation when so many parties are involved. On the contrary, with significantly less owners having a stake in fractional properties, the upkeep is generally easier and properties stay in good working order much longer.

Personalized Attention

Fractional property owners also experience more relaxed vacations since they get to enjoy the property for longer periods of time. You also get to know the staff better, and soon crew members will be calling you by name each time you visit your investment property. On the other hand, timeshare owners spend so little time at their property it is next to impossible to get to know staff members and enjoy that cozy feeling that comes with familiarity.  Most timeshare developments have hundreds of units at each location and the quick turn over between owners may not be for everybody. Interested in a more intimate and exclusive environment? If so, fractional properties would be a better fit for you. Timeshare owners also feel less emotionally connected to their property because they can only spend one week per year at the property.  Fractional property owners visit anywhere between three to twelve weeks each year and feel a sense of pride and loyalty to their second home.

Higher End Amenities

Another big difference between fractional ownership and traditional timeshares is that fractional properties are usually better made and come with superior furnishings and fixtures. You also have access to better amenities and services, and the fractional ownership units have the best location within a resort. As the required income for fractional ownership is $150,000 USD per year versus $75,000 USD per year for timeshare ownership, you get what you pay for. Fractional owners tend to be more demanding than traditional timeshare owners and expect personalized service and attention to detail in all areas related to their fractional property. Higher standards of service are expected since the investment level is much higher than with a traditional timeshare investment.

As you can see, there are many notable differences between traditional timeshare ownership and fractional ownership.  Which shared property investment type are you most interested in?

Risks of defaulting on your timeshare commitment

By
Evelyn Poulsen
-
0
Risks of defaulting on your timeshare commitment

Risks of defaulting on your timeshare commitment

Have you ever wanted what are the risks if you default on your timeshare commitment? As with any real estate purchase of investment, there are repercussions if you do not pay your payments as promised. This is a very common concern for individuals who may find themselves in situations where they may not be able to continue making timely payments for their timeshare. In today’s world, often times individuals search for answers to this same question on the web and that can put them at risk to be scammed by a fraudulent timeshare company. Here is some information that we hope can explain what you should expect if you stop making your timeshare payments.

What are the consequences if I don’t pay my timeshare?

You must be aware of the consequences  that may result if you decide to stop paying your timeshare. For whatever reason, if you find yourself in a financially tight bind that prevents you from fulfilling your contractual responsibility, make sure you understand the risks that will follow that could cause you future problems a well.  Everything from having your credit score adversely affected to even legal action taken against you are risks that you need to be aware of if you decide to stop paying your timeshare payments. One must step back and analyse the specific reasons that would make you consider defaulting on your timeshare payment responsibilities. Once you stop paying your timeshare fees and the maintenances dues as well, you will lose all rights to use the timeshare units and its amenities until all payments come current.

Maintenance fees for timeshares

Every timeshare company has their own rules and regulations regarding payments and defaulting of payments. However, the majority will charge your delinquent fees and interest fees as well if you stop paying.  Some companies will charge fees by the day, and others will charge on a monthly basis. Make sure to read the timeshare policy carefully so you can be educated on the specifics of your timeshare. Please note that all maintenance fees need to be paid and update to date if you want to keep using your timeshare. As soon as you stop paying your timeshare maintenance fees, you will lose rights to use the timeshare so it is important to stay on top of those payments. If you do default, you will most likely also be required to pay a reinstatement fee. The timeshare company can even sell your debt to a collection agency if they have reason to believe you have no intention to come current.

Foreclosure of your timeshare

Foreclosure is possible if  you just stop paying your timeshare payments completely. In general, the timeshare company will first send you a written warning about your late payments, and then they will contact you by emails and phone calls as well. However, if you ignore all these attempts and do not become current, the timeshare company will often file for a foreclosure and as a result your possessions could have a claim filed against them. Additionally, if you took out a loan or paid your timeshare membership with a credit card, you are still liable to pay those payments and any late fees or interest that accrues as well.

Credit Score

If you stop making payment and also ignore all calls and emails from the timeshare company, then your timeshare debt will be sold to a collection agency. When you stop paying the timeshare payments your credit score will also be affected. This is important because your credit score is often considered when you purchase any large items on credit. If they will see that you have defaulted in paying your timeshare in Mexico, you will likely be denied a loan

The collection agency will also take the legal steps necessary to sue you, which will drastically affect your credit score even further. Credit collectors are known to be very persistent, and it’s possible you will face embarrassment as many persistent telephone calls and even visits to your home and work will begin to happen frequently.

Timeshare Cancellation Scams

If you are thinking about not paying your timeshare, be aware that you may also become a target of a cancellation scam company. The timeshare cancellation scam company attempts to convince you that they can save you from severe consequences of not paying your timeshare membership. This is almost always a complete scam and will cause you further economic and emotional stress if you play into their scam. Therefore, it is also best to deal directly with your timeshare provider and not involve any third party companies that could potentially be fraudulent.

Keep this information in mind if you ever decide to possibly stop paying your timeshare. The short and long term risks and consequences are serious, and should be not be considered lightly.

How to Protect Yourself from Scams on Vacation in Mexico

By
Evelyn Poulsen
-
0
How to Protect Yourself from Scams on Vacation in Mexico

How to Protect Yourself from Scams on Vacation in Mexico

Mexico is one of the biggest vacation destinations in the world, and as such it attracts droves of tourists…and, sadly, more than a few fraudsters. They follow the tourists and timeshare/vacation owners, and operate on an opportunistic basis. Not to worry, however; we have all the information you will need to recognize and avoid scammers and fraudulent schemes.

Airport transfer scams

If you have pre-booked your link transport to get you from the airport to the hotel, make sure you double check your confirmation against the reservation list of anyone who approaches you or you could end up paying twice! Check their reservation list and ID before you enter their vehicle!

Rental Scams Affecting Vacations to Mexico

If you use a reputable rental agency (no matter which end of the deal you’re on) you shouldn’t have any issues with rental scammers. For reference, rental scams either take the form of someone trying to levy a finders fee for a third party renter that never appears, or an individual renting out a property that is uninhabitable, that is double booked, or that is not theirs at all.

Timeshare scams

Mexican timeshare scams have become a dying breed; the country was once plagued by them, but after a concentrated effort from local and federal authorities, and of course the industry itself, there has been a marked decrease. These days the biggest timeshare based scams are cancellation scams which try to take advantage of people looking to be rid of their memberships and timeshares. Avoiding these scams is easy; cancellation businesses are either providing a service you do not need (if you are within the cooling off period), or one that they cannot legally provide (if you are out with the cooling period) so do not trust them at all!

Credit Card Scams

Credit card scams may be the single biggest fraudulent activity in the world, and Mexico is no exception to this. You should be careful about how use your card both online and in Mexico; check that all websites and portals are secure before you enter card details to book accommodation or flights, and be careful about who you give your details to when you pay for tickets to an attraction, show, or tour. Remember that most places have wireless card readers now! Use your credit card where ever possible as this offers some protection against fraud.

So, what’s your experience of scams? Do you have advice for fellow travelers?

123...25Page 2 of 25

EDITOR PICKS

POPULAR POSTS

POPULAR CATEGORY

©