DRI purchase retail - need urgent advice

Hi will they only hit your credit or sue? I'm on the same boat...

Advice urgent!

Bill4728 said:

STOP!!

Do not do anything at this time.

You have a situation which most of the advise you have gotten here is wrong. I believe that if you default on your new purchase DRI will consider your entire ownership in default. That means your $30,000 investment from 8 years ago is gone too. If you only had the new purchase the advise would be " walk away from the deposit and take a hit on your credit" BUT now the advice should be " if you walk away you'll be walking away from both the original purchase and your new purchase. Do you really want to do that? "

I'm sorry not sure I'd be willing to walk away from both and lose my deposit and the $30K I already paid.

Good Luck

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We are willing to walk away on both in our case, but worried they will sue... Will they or just take a credit hit? Need advice urgent!

Welcome back Dave M !!!!

There is always a risk that they will indeed turn you over to collections and foreclose yes....but that same risk exists when walking away from any financial obligation.

use points to pay MF

artringwald said:

Since you have platinum status, you can use your points to help pay the maintenance fees, although their benefits directory hints that they might take away that benefit. The benefits directory is online at:

https://cmsprod.diamondresorts.com/sites/default/files/US-Member-Benefits-Directory_12.pdf

It describes many ways you can use your points, so you should never have to let them expire.

I am among the many TUG members who bought from the developer before discovering TUG. We bought in 2004 before Diamond Resorts bought out Sunterra. We have passed through the 5 stages of grief and are now at Acceptance. We enjoy the DRI properties, especially the Point at Poipu and Kaanapali Beach Club, both of which are in the Hawaii Collection. The money is gone, but we're making the best of what we bought.

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I had browsed the website. I am not sure where that mentioned you can use your point to pay for MF. At what value is your point ($.10/pnt)? Is it woth it to use your points for MF?
When I went to Las vegas using my GMV, he talked me into buying the sampler package. He told me to buy 15000 DRI points. In addition to my GMV (133 points) I could use half of my total points for MF and half of it for vacation. I am in the point of giving away my GMV. My husband just didn't want to let go of $10,000 we paid 10 years ago.
Now I have the option to use the sampler (15000 pnt for $3000) or to pay another $7000 for additional 15000 pnt/yr. How many DRI points are my 133 GMV ponits worth? Is it worth it? Since I have to pay MF for my GMV anyway or should I deed back my GMV points to DRI?

chexchy said:

I had browsed the website. I am not sure where that mentioned you can use your point to pay for MF. At what value is your point ($.10/pnt)? Is it woth it to use your points for MF?
When I went to Las vegas using my GMV, he talked me into buying the sampler package. He told me to buy 15000 DRI points. In addition to my GMV (133 points) I could use half of my total points for MF and half of it for vacation. I am in the point of giving away my GMV. My husband just didn't want to let go of $10,000 we paid 10 years ago.
Now I have the option to use the sampler (15000 pnt for $3000) or to pay another $7000 for additional 15000 pnt/yr. How many DRI points are my 133 GMV ponits worth? Is it worth it? Since I have to pay MF for my GMV anyway or should I deed back my GMV points to DRI?

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Does it make sense to buy points to use to pay MFs? I'm not trying to belittle you in any way. Everything they sell you has a profit motive. If it were efficient to use those purchased points to pay MF, it seems like there would be no profit in it for the developer.