Debt consolidation & buying into the DVC...

[JCTigger]

Hey everyone!

I'm currently going thru the ask every question you can possibly think of before starting to fill out the paper work aspect of buying into the DVC... I have a question for people who are currently doing debt consolidation... when you filled out the paper work did you have any problems with your consolidation company? I've only been doing the consolidation for a few months and have sent an email off to the company about my wanting to buy into the DVC but havent heard anything back yet.. so i was just wondering what other DISers have gone through...

Thanks everyone!

Jill

 

[Eyore4Ever149]

I am long past my days of using debt consolidation and zero'd out my debt before I started taking vacations. My guess is your debt management company is going to frown on your desire to buy a timeshare, since you are going to be adding more debt to your bottom line (financing this??) You might want to wait until you have a zero balance with your debt consol. co.

best wishes in your decision making process

don't mean to be a fuddy-dud

 

[utahkennedys]

I have to agree...DVC is a luxury purchase in my book.

 

[Mickey'sApprentice]

OP:

I'm sorry to hear that you are going through debt consolidation. Unfortunately, its all too easy to find yourself in debt these days.

Keep in mind that when you purchase DVC you will be:

1.) paying annual maintenance fees.
2.) purchasing MYW tickets or APs
3.) transportation to WDW
4.) food - unless you do cook in your DVC

We paid cash for DVC, and didn't fully realize that we would have all of the extra expenses.

I've been there. Its easy to tell yourself that you need something special when your whole life is about paying off debt and making self-sacrifices, and the balances don't seem to go down.

The fact of the matter is, with few exceptions, you have to change your spending habits and the way you think about spending and maybe about how to earn more money before you will ever escape high debt.

I've lived both ways. Its worth it to do whatever you have to do to pay off the debt. DVC can wait. The most fun part is when someone asks about payments. You can then respond...payments??

Make a reasonable plan, pay off the debt, save 6 months salary in cash, and then save up the money for DVC.

Here's some pixie dust. I hope everything works out soon.

 

[browniemtb]

I'm sorry I don't understand. If you are going through a debt consolidation process why would you even consider DVC. As one above posts has said, "Its a luxery item." Don't create more debt. Just my 2 cents...
Brownie