Need Advice

[ZachnElli]

My dh lost his job yesterday. We are devasted and totally shocked. We have the BWV grand villa booked for March 25-April 1. We banked last years points, 350, this years points (Feb use year) and borrowing 100 from next year. So what are my options for cancelling? I can bank 2006 year's points, right? And I'll probably have to rent out last year's banked points. I haven't technically borrowed next years points, so they can stay there. Do I have that right? I'm not canceling yet, who knows he could find a job next week, but I need to plan for the worst (which includes selling our contract ). Thanks for any advice.

 

[Caskbill]

With a Feb Use Year, that Vacation is in your 2006 year, so just to get things straight.

When you say you banked last year's points, you mean you banked your 2005 points into 2006, and when you say you borrowed next year's points, you borrowed 2007 points into 2006. And by this year's points, you mean the 2006 points you will be receiving on 2/1/06. Is all this correct?

Since you've already made the reservation then yes, you have borrowed those 2007 points. If you cancel, they will remain in your 2006 use year which means you'd have to use them by Jan 1, 2007. Likewise the banked 2005 points are in your 2006 use year now and would need to be used by Jan 1, 2007. This gives you a minimum of 450 points that are 'locked' into use year 2006.

Your regular 2006 allocation can be banked into 2007 which would give you until Jan 31, 2008 to use them.

Hope this helps.

Very sorry to hear about the job situation. FWIW I went through the same thing 20 years ago (Worked as an Engineer for John Deere) when they reduced staff because of a total downturn in the Farm Economy)

Only advice is to keep your head up, plan for the cancellation contingency option, and have DH get very proactive (gee I hate buzz words too..) and find that next job. In my case I got a better job than I had, so maybe the same will happen for you.

Good Luck.

 

[ZachnElli]

Thanks Caskbill. You have it all correct. I didn't know that about borrowing, so you cleared that up for me. We moved 1250 miles from home for this job just a year and a half ago, so it's stinging. Hoping he can find something back there so we can move back.

 

[spiceycat]

go advertise your GV - that is spring break week even at $10 a point you can probably rent it. (you can charge more for BWV generally than $10 a point)

give yourself like 30 days to rent it. if you haven't done it 30 days - then cancel the entire reservation and only rent the 450 points that you need too.

then try for a reservation standard view studio or 1-bedroom for Thanksgiving. (don't slam me folks - she needs help!!!)

 

[AFMom]

No slamming - Spiceycat - I think it's a good plan - but she may want to wait a bit before renting it out. Give DH a bit to find a new job - maybe things will work out for you. Certianly stay in your comfort zone as far as not waiting to long to take action, though. It would be a shame to give up the Gran Villa - and then have everything work out ok!
Good luck to you and I'll be crossing my fingers for you....

 

[ZachnElli]

Good advice everyone, thanks! I'm not ready to rent it out yet. He could find work next week and everything be fine. Plus it's my parents vacation too. I'm guessing we'll have to move and we can't afford to move and go to WDW. So renting out the 450 points and using that money to move, then still be able to go in 2007 sounds like a plan. Also, if nothing is happening by Jan. then we could probably sell the whole contract with all those banked points and get a better price. Let's hope it doesn't come to that! Thanks for crossing your fingers, I'll take all we can get!