timeshare advise

[annie128]

I had purchased a timeshare in Aruba and stopped paying. I (from NJ) am now being contacted by merdian financial services (they are in NC) trying to collect the debt. They keep calling,I sent them out a certified letter not to call, only mail will be accepted. What are my rights on this matter. The paper that was signed is by Arubian laws. Where can I look more into this matter or what are my rights? Is there a website that I can get info on this matter. I need to see my rights in writing. Can they get a judgement or put a black marker on my credit report? (There was never any Social Security numbers given)

Thanks
Ann

 

[JasonRT]

Dear Ann,

Did you sign one agreement or two (i.e. one for the timeshare, one for the payments)?

Is the company that you are indebted to located in Aruba or the United States?

Is the company that is calling you the same company to which you owe the debt?

What provisions if any does the contract provide for "giving up" your timeshare?


Please answer the above and hopefully we will be able to help you.

Thanks,

[email protected]

 

[annie128]

timeshare problems

Did you sign one agreement or two (i.e. one for the timeshare, one for the payments)?
1. Promissor note the bottom is signed also by us (maker) and Divi Village I,N.V., (A limited company under the laws of Aruba) as th payee. We also signed a understanding a acknowledgement and stated inthat if we terminate the lease agreement that the membership agreement is terminated by the operation of law and member shall forfeit and surrender all payments made.

Is the company that you are indebted to located in Aruba or the United States?
I think above ansered this, but we do make payment to Carol Stream IL.

Is the company that is calling you the same company to which you owe the debt? NO

What provisions if any does the contract provide for "giving up" your timeshare? On promissory note it is stated that the note shall be govered by the laws of Aruba and exclusive jurisdiction for all disputes hereunder shall be in the courts of the Island of Aruba.


Please answer the above and hopefully we will be able to help you.

I thank you soooo much in advance for all your help.

Ann

 

[JasonRT]

Dear annie,

Sounds great, write them a letter and tell them that you're not paying them another dime. Include a copy of the agreement and notify them that if they want, they can file suit against you in Aruba and pursue all of your assets there (LOL).

If they attempt to sue you in the United States, bring a motion to dismiss for improper venue citing that the agreement they are suing you under specifically states the exclusive legal jurisdicition is in Aruba.

They placed that provision in the contract to protect themselves, but it worked out in your favor this time .


[email protected]

 

[annie128]

timeshare problems

Thanks for your repy. I will keep all my info together. I know one day this will pop up again and another company will be contacting us. Most of these companys dont charge a fee just get a commission. Have a great weekend. Thank you.

Ann