2012 Points?

[bwang123]

Originally Posted by disneynutz

Interesting that Disney would take this position. They aren't out anything, they just took your points back and added them to the pot and resold them again.

Bill

Probably because when you buy direct, you only have to put up a few hundred dollars and they will give you several weeks to pay the rest of closing. But your points are immediately credited. So, you could use all your points in those few weeks and then just give up the contract. The initial few hundred dollars will be significantlly cheaper than rack rate, renting points etc. Disney now knows you are a risk.

[Hunclemarco]

Originally Posted by bwang123

Probably because when you buy direct, you only have to put up a few hundred dollars and they will give you several weeks to pay the rest of closing. But your points are immediately credited. So, you could use all your points in those few weeks and then just give up the contract. The initial few hundred dollars will be significantlly cheaper than rack rate, renting points etc. Disney now knows you are a risk.

I could understand how something like this could happen.

To clarify, that was never our intention, and the amount of our payments did pretty much pay for a 210 point contract with Disney....they were just spread out through various contracts. Again, i know we were in the wrong when all was said and done, but it wasn't our intention to score a quick deal using points like that mentioned above. I would have hoped Disney would have seen our record to realize that. What they told us is their stance on the situation...we'll move on and do what we can.

[Hunclemarco]

Originally Posted by dvcterry

Thank you for sharing your story. I'm sorry to hear about the difficulties you had and it took courage for you to explain your situation. But it can be a valuable learning experience for all of us. Sometimes we take for granted the simplest things in life, the things that really are most important, our family & friends, our homes filled with food, and even our jobs, when we need them most. Maybe some good will come out everything for you.

Originally Posted by disneynutz

Interesting that Disney would take this position. They aren't out anything, they just took your points back and added them to the pot and resold them again.

Bill

Originally Posted by ELMC

Thank you for sharing your story, which is an excellent cautionary tale about financing DVC purchases. Quite frankly, given your experiences in the past, I think it might work out better for you in the long run to purchase resale. Good luck.

Thank you for your sentiments...they are truly appreciated. Despite Disney's decision here, we still feel owning DVC to be a good thing for our family. We'll buy resale when we can, and go from there.

Thank you for the Positive thoughts!

[Dean]

Originally Posted by Hunclemarco

Weedless to say, this is embarrassing, but i did want to point this out for the friends here on the DIS....

1. Addionitis may be fun, but can create problems if you buy too much too soon. ( i know many feel that financing timeshares are not good. I do agree with this now...but i learned the hard way)

2. If you do turn in your contract, Disney will never work with you again unless you find other financing options.

3. If you fall into difficult times and you believe that you may later wish to join DVC direct, do everything possible to sell the contract, not give it back.

So, We do have money saved, and figured we'll buy out 50-75 point contracts over time till we have what we need. So, it was a strong lesson for us, and i hope it can benefit someone out there too

All good warnings to add to a number of others. IMO, they did you a favor by refusing to finance because you can buy resale for about what it'd cost retail to pay half (depending on specifics of course). And you lose nothing of value going resale either now or in the future unless they come up with a VIP program that affects you directly, which I doubt they will. DVC is to use for DVC resorts, EVERYTHING else is a poor situation to buy for.

[AnnaS]

Originally Posted by dvcterry

Thank you for sharing your story. I'm sorry to hear about the difficulties you had and it took courage for you to explain your situation. But it can be a valuable learning experience for all of us. Sometimes we take for granted the simplest things in life, the things that really are most important, our family & friends, our homes filled with food, and even our jobs, when we need them most. Maybe some good will come out everything for you.

What Terry said!!!!!!!