Misspelled Name on time-share contract

[taterbill]

What is the name of your state (only U.S. law)? Colorado

Hi. My wife and I recently signed a contract to purchase a time share unit. The company has since sent us a new copy of the contract they want us to sign, because they misspelled my first name on all of the paperwork. Since the time we originally signed, the economy has gone south, my wife's out of work, and my company has announced impending layoffs, and I would love to get out of this mistake.

Is our original contract valid? Should I sign the new one? Do I legally own anything right now? Do I have any obligation to keep making payments?

Thanks to any and all responders!

[Zigner]

Yes, the contract is valid. Yes, you still owe. Or, are you trying to claim you are NOT taterbil? (see, that was misspelled, but it is STILL you!)

[HomeGuru]

Originally Posted by taterbill

What is the name of your state (only U.S. law)? Colorado

Hi. My wife and I recently signed a contract to purchase a time share unit. The company has since sent us a new copy of the contract they want us to sign, because they misspelled my first name on all of the paperwork. Since the time we originally signed, the economy has gone south, my wife's out of work, and my company has announced impending layoffs, and I would love to get out of this mistake.

Is our original contract valid? Should I sign the new one? Do I legally own anything right now? Do I have any obligation to keep making payments?

Thanks to any and all responders!

**A: nice try tatertot.

[taterbill]

Thanks for your responses. Next question: If I am indeed laid off next month, which is a distinct possibility, I will no longer be able to make payments on this time-share. Should that occur, what will happen? Do they simply foreclose on me and I lose whatever I've paid in so far, or do they have the grounds to come after my assets, wages, etc. in any other way?

Thanks

[HomeGuru]

Originally Posted by taterbill

Thanks for your responses. Next question: If I am indeed laid off next month, which is a distinct possibility, I will no longer be able to make payments on this time-share. Should that occur, what will happen? Do they simply foreclose on me and I lose whatever I've paid in so far, or do they have the grounds to come after my assets, wages, etc. in any other way?

Thanks

**A: read your docs and talk to them.