Timeshare in Mexico query

Coastie

We believe we have a timeshare (or possibly a loan agreement with the hotel) in Mexico. We say believe - as though we have no set timeshare week - we have bought 300 nights accommodation to be used over 25 years. We are affiliated through RCI for two years, and will need to pay for membership if we want to use it after that. However, we bought it primarly to use at the hotel in which we were staying. When we signed the paperwork, there was never any mention of timeshare - it was to be a "premier" member of the hotel. We didn't realise until we got home (well after the 5 day cancellation period) that the paperwork mentioned timeshare.

It is through "Premier by Original Resorts". We signed an agreement in the hotel in February this year. We have paid no deposit, and the first payment is due to go out early next month.

There are no annual maintenance fees to be paid. We own no specific weeks. From what we can see, we are due to make monthly payments for 5 years on what seems to be a loan agreement. I'm wondering if it is just a loan with the hotel - with RCI membership thrown in? We're a bit baffled.

We know what we signed, and we know that we are past any cooling off period. What would happen if we don't pay?

This started out as a general conversation today - and now, despite trawling through the minute print of the hundreds of clauses - and also online - can find no answer.

There is nothing to say what happens if we ever want or need to cancel. Can we be held financially responsible for a loan in Mexico? Can a debt be attached to us in the UK? and could it affect our credit rating?

Any advice will be appreciated.

Jamie_Yorkshire

Hi

From your post and mentioning Original resorts is the hotel Temptation by any chance?

If so if you are in the UK it's normally cheaper to get a package there and not use the timeshare option. However, I don't know the specifics of the contract but there is a forum dedicated to this resort, if you search for Cancun Care then go to the Temptation forum I am sure someone will be able to answer this. It's a great site if going to the hotel.

If it's not Temptation, sorry ignore the above.

ines_simons

Thousands of International travelers, particularly from the US and Canada, have fallen victims of timeshare fraud while vacationing. Resort developers hire skilled salesmen to represent their timeshares as many different attractive packages, such as financial investments, deeded properties, or vacation clubs, just to increase their sales.

Pollycat

OK ines.

Do you have any other advice to offer someone who posted 18 months ago?

Regardless of what US & Canadian travellers have done, this is a UK website.