Am I going to have a problem?

[veenstra56]

Hello. Please help clear this up for me:
I am waiting to close on a resale contract that has an April use year. I was told that I won't get the final paperwork to sign and return for another 2-4 weeks. My problem is that I want to bank 100% of my 2007 points and I see that in order to bank 100% of April use year points I will need to do so by Sept. 30, and I am quite certain that I won't even have the contract closed by Sept. 30.
Is there anything I can do about this?
Thanks in advance.

 

[bobbiwoz]

Do you mean 2007 points? ....or are you asking about the 2006 points?

If 2006, well, I would check with the broker and have the people who presently own the contract to bank the points. Once those points are banked they will stay banked for you.

Bobbi

 

[veenstra56]

I was referring to my 2007 points. I was under the impression that in order not to lose my 2007 points I needed to bank them by Sept. 30, 2006. After reading your response I think now that I am misunderstood.

 

[bobbiwoz]

You will get your April UY 2007 points in 2007, and you will have until Sept. 30th 2007 to bank all of those into your 2008 UY.

Are you getting any 2006 UY points in your resale? When do you want to take a trip?

Bobbi

 

[dianeschlicht]

The 2006 points COULD be banked by the current owners. The 2007 points do not come into the account until April 1st of 2007. You have until September 30, 2007 to bank those. You can, however borrow points from that 2007 use year for a trip anytime before April 1.

 

[veenstra56]

No 2006 points. We'll use the points April 2nd, 2008. I think I understand now; bank my 2007 points by Sept. 2007, then use my 2007 points along with my 2008 points for my April 2nd trip. Right?
Thanks for your help!

 

[LisaS]

No 2006 points. We'll use the points April 2nd, 2008. I think I understand now; bank my 2007 points by Sept. 2007, then use my 2007 points along with my 2008 points for my April 2nd trip. Right?
Thanks for your help!

You've got it. With an April Use Year, you have until Sep 30th to bank 100% of the current year's points into your next Use Year. Your 2007 UY points are valid for stays from Apr 1, 2007 through Mar 31, 2008. By banking them into your 2008 UY, they will be valid for stays from Apr 1, 2008 through Mar 31, 2009. Those banked points plus your 2008 points can be used for the April 2008 trip. If you don't need all of those points, use the banked 2007 points first, then any 2008 points needed to complete your reservation. That way, any points left over would be 2008 points and can be banked into your 2009 Use Year if not needed for other trips in your 2008 UY.

 

[bobbiwoz]

I hope your purchase goes smoothly!

Bobbi

 

[veenstra56]

Thanks again everyone!