Original Message:
Re: Diamond Resorts reduces owner benefits again! (by Mike N.):
maryp152 wrote:There have been various heated discussions on whether not paying MFs affect your credit rating. However, IMO, the resort has the right to come after you for back fees and possibly send it off to a collection agency. In any event, the resort will prohibit you from using, renting or exchanging your unit. IF there is anything in writing, which you signed, stating you will pay all MFs and special assessments, and then the resort probably has more legal rights to collect the debt. The bottom line, though, is that by not paying the MFs, you are not hurting Diamond. All the other TS owners have to make up the difference when other TS owners refuse to pay the MFs.My question to any of you - since our deed is actually paid for and the only thing we pay to DR is the yearly fees, what happens if we just let it go? Does it really adversely affect your credit rating?
maryp152 wrote:You might find someone willing to take on your TS (especially if it is in a high demand location), but you may have to sell it for as low as a $1.00.It seems to me in reading the forums that this ownership would be difficult to sell. Who in their right mind would ever buy our points based on any research they conduct and the comments being made by DR? So I am curious to know what will happen if we just let it go? Anyone have personal experience with that?
maryp152 wrote:My other frustration with DR - and maybe this is true with many other companies - is that with the points system, I always have trouble reserving anything I want when I want it. And I hate their website where you have to plug in each search one by one!!! I wish we can plug in when we want to vacation and then see where our options are. So often I may have a place in mind, but it comes up as being unavailable.
How much time in advance do you plan your vacations? Do you have enough points to go to the areas where you really want to travel? As with many exchange programs, you need to plan your vacations as far in advance as possible. I am a member of RCI Points, and to get the best availabilities, I must be ready to book a unit at the start of the 10 month window. My wife and I usually plan our vacations a year in advance I know Diamond does not have the volume of TS, that RCI does, but they used to exchange via II. Have you tried that route? In any case, if you can’t rent your unit, you should at least use it and enjoy it.