What Happens If You Stop Paying Diamond Resorts?

What Happens If You Stop Paying Diamond Resorts?

Although critics and complainants of timeshare contracts have been raising their voices for many years, such contracts have earned a massively bad reputation in recent years. Their reputation is declining with every passing day, especially after COVID-19.  The pandemic brought to the surface and highlighted many problems that owners of timeshare usually encounter.

Therefore, more and more people are now willing to get rid of their timeshare contracts so that they can save money. This scenario is the same in the case of each timeshare company without any exception. Diamond Resorts International, which is one of the timeshare companies, is also included in this list.

Diamond Resorts Cancellation is a concern that an increasing number of people are facing these days. They want to terminate their contract due to various reasons. The specific reason responsible in each case can be one or more. Also, the reasons might vary from one customer to another. Once the customer identifies the issues related to their timeshare contract, they think about canceling it as soon as possible,

However, it’s not as easy as it sounds. Just like buying a timeshare involves a time-consuming and tedious process, canceling or getting rid of a timeshare is also time-consuming and tedious. A lot of customers spend years just trying to cancel or terminate their timeshare contracts.

The whole industry of timeshare properties is quite complicated to understand. The annual maintenance fees might change at any moment, depending on the discretion of the holiday resort owner. In the case of a floating-week timeshare, consumers might get more troubled as there are huge chances that the property might not be available for booking for those weeks during which they want to stay there while being on vacation.

Diamond Resorts Cancellation: How to Proceed?

Once you buy a timeshare, you get a period of some days during which you can cancel it. Many customers research more about the timeshare in general and their company as well as understand their contract properly during this period. So, naturally, many people put cancellation requests in front of the company (resort owner) from which they have bought a timeshare.

This window of cancellation is available only to those who purchase a timeshare directly from a resort owner. Those, who buy it from an existing owner of a timeshare, don’t have this right. It might seem that as the right has been by the company itself, using it would be a cakewalk, but it’s not always true. Many people fail to understand the terms of the agreement during this period.

So, their right for Diamond Resorts cancellation gets forfeited as soon as the window gets closed. Now, some people continue carrying the burden of this contract for years. Those who run out of funds to continue paying maintenance fees look for options to get out of this arrangement.

Customers use various methods, including but not limited to talking to the staff of the resort for getting freedom from the contract and related obligations, selling their timeshare to someone else, gifting their timeshare to an acquaintance who is ready to pay maintenance fees, and renting out their timeshare. They even take the help of a lawyer or expert to find the appropriate solution.

Can You Stop Paying Money to Diamond Resorts?

A few customers take the drastic step of stopping to pay the annual maintenance fees after feeling financially and mentally stressed out by paying maintenance fees every year and handling the obligations related to the timeshare they have purchased.

They get so frustrated with the situation that they try to avoid their responsibilities as a timeshare buyer instead of looking for proper legal solutions. But the truth is far from this, as such a step can show you in a bad light. Every contract or agreement must be nullified, canceled, or terminated in accordance with the rules and regulations applicable for that specific purpose in that particular region. This applies to timeshare contracts made with Diamond Resorts International as well.

Thus, when you seek Diamond Resorts Cancellation, you should use the legal route. If you stop paying money, you might have to face legal charges. The timeshare resort company, i.e., Diamond Resorts, can put you in legal trouble, as after all, you have agreed to pay the annual maintenance fees by signing the contract.

In the beginning, the company may make polite requests through emails, phone calls, and letters. But then, they might take strict actions like taking the help of collection agents. If you still don’t pay or respond to them, they will take all the possible legal action against you. They might even do a foreclosure on the property, i.e., foreclosure on your rights as a timeshare buyer by allotting the same rights to someone else.

Wrapping Up

Though Diamond Resorts Cancellation is no easy feat, you should not take the immoral steps of stopping paying annual maintenance fees. Instead, you should approach a professional firm that can help you in achieving this objective.

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