DVC Membership Dilemma

[YourEveryDayAdam]

How's the view from that high horse?

Agreed.

Making purchases that stretch someone financially affects all of us, directly or indirectly. Just walking away from obligation and responsibility can not and should not be commended. You have used points and therefore rooms at DVC and have not fully paid for the right to do so. This affects members who are in good standing.

What happens if Disney allows everyone that signs up to use their initial points, perhaps borrowed points and then simply walk away having received a "value" vacation.

To the OP, you signed an obligation to pay and I feel you need to make an effort to do so, walking away should not be an option.

First of all, I did not "commend" the OP. In fact, I did not judge the OP in one way or another (good or bad). The only thing I offered to the OP was that they take care of their basic needs (food, shelter, etc.) before sending any money towards a luxury, regardless of prior commitments. If you disagree with this, then perhaps you should take a class in common sense.

Secondly, I don't see how you can make any judgements about the OP's situation, especially since they haven't said anything about the specifics that brought them to the situation they are in. Perhaps it was a dual income family who was well off, comfortable, and (at the time of their purchase) was responsible. Well, life can happen... jobs can be lost, salaries can be slashed, people get sick, and situations change. Perhaps the OP lost their job and their family now has to pay all the bills with 1/2 the income? Perhaps a family member got sick and now they have large regular medical bills? If I ended up in a similar situation, then I can assure you (regardless of where you think my priorities should be) that DVC would be one of the first things to go.

Thirdly, you can tell by the tone of the OPs original post that they are truly broken up about it and do want to keep it and tried or will try to make good on the situation, depending on the outcome from a call to member accounting. This is far from someone who bought, paid the absolute minimum, banked and borrowed points to obtain a value vacation and then walked away as if it were their intention. That specific behavior, I would not condone.

Finally, regardless of how the OP ended up in this situation (whether they were responsible or not), what is done is done and there is no going back in time. All that the OP can do is take an assessment of their situation and make the decision that's best for them. At this point, how the situation was reached is immaterial. In my opinion, the best thing for the OP to do (if they can no longer afford to keep their DVC) is to save their money and use it for things they need. Keeping money they have and using it for necessities is much better for them than sending it off in to a black-hole that would ultimately end up being a DVC foreclosure and lost forever having done them absolutely no good.

To the OP: I hope you can come up with a solution with Member Accounting that will let you keep your DVC. If not, give it back to them and keep your money... and I wouldn't send in the past due amounts either, use that money for things you need and don't feel like you need to "make Disney whole". That good feeling won't do you much good if you are forced out of your home, or can't afford to eat because of making the past due payments.

If you end up having to give it back, then use the money that would have gone towards payments and save it up. Perhaps in the not-too-distant future you will have enough saved to buy a small contract via resale and own a piece of the magic again.

Best wishes.

 

[MichiganMouse1967]

marynvince - yes, I signed an obligation and had every intention on keeping that obligation. You have no right to pass judgment on me - thank you very much.

I did not want to give out the specifics of my situation - it is personal and a result of many unforeseen circumstances. However, I will point out that when we did purchase our membership initially, we were doing very well and never imagined we'd be in the situation we're in now. We are very responsible - then and now. We are doing our absolute best in every possible way imaginable. If I had known we'd be in this situation, I never even would have considered buying into DVC. I don't intentionally take on financial obligations if I don't think it can be managed responsibly. I never dreamed in a million years we'd be where we are now. If I have to "walk away" from my DVC in order to take care of the things that are more important for my family, then that's what I need to do, whether you agree with me or not. I can assure you, though, it's not because I had the intention of using my membership as you suggest.

Adam - thank you so much for your support and kind words. I will post the outcome of my conversations with Member Accounting.

tagall4 - I thought about renting, but I'd prefer not to go that route just yet.

 

[randy55]

We are all just a pink slip away from being in a position of financial distress. Call Disney and explain your situation and see what options they give you. Only walk away as a resort. Good luck and hopefully these trying times will pass quickly.

 

[Disneypubgal]

marynvince - yes, I signed an obligation and had every intention on keeping that obligation. You have no right to pass judgment on me - thank you very much.

I did not want to give out the specifics of my situation - it is personal and a result of many unforeseen circumstances. However, I will point out that when we did purchase our membership initially, we were doing very well and never imagined we'd be in the situation we're in now. We are very responsible - then and now. We are doing our absolute best in every possible way imaginable. If I had known we'd be in this situation, I never even would have considered buying into DVC. I don't intentionally take on financial obligations if I don't think it can be managed responsibly. I never dreamed in a million years we'd be where we are now. If I have to "walk away" from my DVC in order to take care of the things that are more important for my family, then that's what I need to do, whether you agree with me or not. I can assure you, though, it's not because I had the intention of using my membership as you suggest.

Adam - thank you so much for your support and kind words. I will post the outcome of my conversations with Member Accounting.

tagall4 - I thought about renting, but I'd prefer not to go that route just yet.

Shame on you marynvince!! There are so many who would have just walked away never posted for suggestions to rectify the situation. I agree with the previous posters that the OP should take care of there family first. As a former Disney cast member I can assure you that Disney will be just fine over the long haul and the financial obligation associated with the points already utilized is already in TWDC favor.... The current economic situation is very unfortunate and difficult.. that being said...it is commendable that the OP came to all of us on suggestions to first figure out what is the right thing to do for there family and this obligation... I sincerely hope you never have to walk in there shoes! Having to go thru something like this is hard enough and then having someone like you be so judgemental is unnecessary.... I wish you the best of luck MichiganMouse!!!

 

[dianeschlicht]

Making purchases that stretch someone financially affects all of us, directly or indirectly. Just walking away from obligation and responsibility can not and should not be commended. You have used points and therefore rooms at DVC and have not fully paid for the right to do so. This affects members who are in good standing.

What happens if Disney allows everyone that signs up to use their initial points, perhaps borrowed points and then simply walk away having received a "value" vacation.

To the OP, you signed an obligation to pay and I feel you need to make an effort to do so, walking away should not be an option.

I hope YOU never have a reversal of fortunes! It must be nice to be perfect and never have to worry about such things in this economy.

 

[dianeschlicht]

marynvince - yes, I signed an obligation and had every intention on keeping that obligation. You have no right to pass judgment on me - thank you very much.

I did not want to give out the specifics of my situation - it is personal and a result of many unforeseen circumstances. However, I will point out that when we did purchase our membership initially, we were doing very well and never imagined we'd be in the situation we're in now. We are very responsible - then and now. We are doing our absolute best in every possible way imaginable. If I had known we'd be in this situation, I never even would have considered buying into DVC. I don't intentionally take on financial obligations if I don't think it can be managed responsibly. I never dreamed in a million years we'd be where we are now. If I have to "walk away" from my DVC in order to take care of the things that are more important for my family, then that's what I need to do, whether you agree with me or not. I can assure you, though, it's not because I had the intention of using my membership as you suggest.

Adam - thank you so much for your support and kind words. I will post the outcome of my conversations with Member Accounting.

tagall4 - I thought about renting, but I'd prefer not to go that route just yet.

I wish you much luck in your process. I'm sure when you call DVC, you will find there ARE options. I also agree that if at all possible, the best scenario is to get up to current so you can rent out. I know that might not be possible, but it's likely your best option. It really depends on if you can see a short term "light at the end of the tunnel" for your curren situation.

 

[15isto2]

I have no practical advice to give but wanted to wish the OP the best of luck in getting the situation resolved and to say that you are in my thoughts

 

[parlay]

I also wanted to send good wishes to the OP! I hope things work out. Keep us posted!

 

[ELKHUNTER]

I would need to get $68 per point to payoff just the loan. Looking at the current resale listings, that's about the average price - not enough to cover the loan, annual dues and commission. Like you suggested, discussing a deed in lieu of foreclosure may be my best option.



Yes, my number one priority is to provide for my family. That's why I'm making this decision. I'll see what Disney has to say. Stay tuned...

How many points do you have and at what resort? Disney may allow someone to assume the payments and contract.

 

[atlanticc]

Hello, I feel your pain. This happened to me last year and I had to sell as well. I defintely didn't want to do it but hd no other options. I was selling it through a timeshare store and everything went extremely smoothly. I think I let it go too quickly and took a loss. Disney exercised its right of refusal and actually bought it back from me. I am missing it very much but like you said, It will always be there to buy back. The timeshare store is a good place to begin. Good Luck

 

[MichiganMouse1967]

Thanks to all for your support and kind words. It's a good feeling knowing there are compassionate and non-judgemental members on this board who I can count on to give good advice and offer some hope.

 

[disneymom2one]

We were in a similar situation (just posted on another thread about it). Member Services could have been more gracious. We did exactly as this posted suggested and almost exactly two years later were able to buy a small resale contract with cash. We were very fortunate in that our situation was temporary. We fixed it and learned a lot about ourselves in the process. At the time, it seemed like a very, very long tunnel but it did work out for us.

Agreed.



First of all, I did not "commend" the OP. In fact, I did not judge the OP in one way or another (good or bad). The only thing I offered to the OP was that they take care of their basic needs (food, shelter, etc.) before sending any money towards a luxury, regardless of prior commitments. If you disagree with this, then perhaps you should take a class in common sense.

Secondly, I don't see how you can make any judgements about the OP's situation, especially since they haven't said anything about the specifics that brought them to the situation they are in. Perhaps it was a dual income family who was well off, comfortable, and (at the time of their purchase) was responsible. Well, life can happen... jobs can be lost, salaries can be slashed, people get sick, and situations change. Perhaps the OP lost their job and their family now has to pay all the bills with 1/2 the income? Perhaps a family member got sick and now they have large regular medical bills? If I ended up in a similar situation, then I can assure you (regardless of where you think my priorities should be) that DVC would be one of the first things to go.

Thirdly, you can tell by the tone of the OPs original post that they are truly broken up about it and do want to keep it and tried or will try to make good on the situation, depending on the outcome from a call to member accounting. This is far from someone who bought, paid the absolute minimum, banked and borrowed points to obtain a value vacation and then walked away as if it were their intention. That specific behavior, I would not condone.

Finally, regardless of how the OP ended up in this situation (whether they were responsible or not), what is done is done and there is no going back in time. All that the OP can do is take an assessment of their situation and make the decision that's best for them. At this point, how the situation was reached is immaterial. In my opinion, the best thing for the OP to do (if they can no longer afford to keep their DVC) is to save their money and use it for things they need. Keeping money they have and using it for necessities is much better for them than sending it off in to a black-hole that would ultimately end up being a DVC foreclosure and lost forever having done them absolutely no good.

To the OP: I hope you can come up with a solution with Member Accounting that will let you keep your DVC. If not, give it back to them and keep your money... and I wouldn't send in the past due amounts either, use that money for things you need and don't feel like you need to "make Disney whole". That good feeling won't do you much good if you are forced out of your home, or can't afford to eat because of making the past due payments.

If you end up having to give it back, then use the money that would have gone towards payments and save it up. Perhaps in the not-too-distant future you will have enough saved to buy a small contract via resale and own a piece of the magic again.

Best wishes.

 

[mgroshans]

we fell your pain. we are almost to that point of having to give ours back or sell it due to DH's job: 35% paycut, no paid holidays anymore, 1 week vacation-down from 4 weeks and no expense anymore. We are trying to keep it, though, not sure for how much longer. People are always so quick to judge without knowing the entire situation. Just b/c the news says the economy is bouncing back, doesn't mean it is for everyone. His place of employment started feeling it a couple of months ago. He is lucky to still have a job, but this is a huge income slash. I'm not looking for sympathy, but some people just need to keep quiet before knowing all the facts.
Good luck to you!

 

[BEASLYBOO]

So, what to do with my membership... Thanks for any advice you can share.

Life sometimes hits us hard, and in that respect you looked to these boards for advice. The DIS can be a huge help, all sorts of people from all walks of life, imparting their knowledge and experiences. You asked for advice, not judgement on how or why you got to this point. The ecomomy has hit many of us very hard, this is what I tell my son (13), "Times are hard right now, but better times will come again." "We just have to wheather it out." I wish you and yours, better times ahead!

 

[mikron2]

Put the points up for sale, if you get a low bid Disney will buy and it is sold.

 

[Dean]

Put the points up for sale, if you get a low bid Disney will buy and it is sold.

But they can't sell it and get ROFR without paying the difference between what it sells for (subtract commissions) and what they owed. The only way they can do that is to sell for enough to cover those costs OR to do a deed back with Disney's and the lenders permission.

 

[Disneypubgal]

But they can't sell it and get ROFR without paying the difference between what it sells for (subtract commissions) and what they owed. The only way they can do that is to sell for enough to cover those costs OR to do a deed back with Disney's and the lenders permission.

Dean is spot on!! Good luck and let us know what happens!

 

[AnnaS]

Just wanted to say good luck MichiganMouse and keep us posted!

 

[Tommygaus]

It is heartening to find so many caring individuals on this board. Irresponsible comments from MaryNVince aside, you need to do what is best for you and your family. Disney and the world will survive.

 

[DizGirl20]

My story: In 2004 my husband lost his job (I did not work at the time). I was depressed b/c I didn't know when/if we would be able to afford a trip to Disney again. Fast forward to 2008. 5 years had elapsed since our last trip to Disney. My husband and I had both found wonderful jobs. When our plane landed in Orlando I started crying because I had been waiting so long for that trip.

We just bought into DVC December 2009 and took our first trip "home" last week. My point is, hang in there. IT WILL GET BETTER. You will come out the other end of all this knowing things happen for a reason. Ultimately I decided to go back to school and just graduated a few weeks ago with my nursing degree! If it wasn't for that time in our lives I never would have found my true calling.

Best Wishes to you. Disney will always be there welcoming you back!