Resale lesson learned - too late

[skunk]

Wanted to share what I discovered today about the resale contract I purchased last summer(not the Timeshare Store) Purchased contract for 150 BWV points @ $82/point with December UY. 95 points from 2005 banked. Officially DVC members in August, with 245 2006 UY points. Booked October 2007 vacation and also 4 days in January 2007 for my sister. Want to begin booking Feb 2008 trip, next month, so I banked 98 points today online. Then I checked on my points to make sure the 98 points were now showing up in 2007, and yes they were. However, none of the 150 UY points showed available for 2007. Same for 2008. In 2009 they show available. What happened to these 300 points?? I bought a stripped contract and didn't know it!! What a moron for trusting and not asking, but I didn't know enough to ask about 2007 and 2008.

1. How many years out can one borrow and transfer points?
2. Why was I never advised by the agent that the points were gone for 2007 and 2008 UY? Do I have any recourse?

Can't wait to tell DW we have no points for 2 years, and we get to pay the maintenance fees besides. Plan was to take friends with us in Oct. 2008(using our extra points) to celebrate our 25th wedding anniversay. Appears we'll be looking for point transfers instead.

But at least I paid no closing costs. lol

 

[chainkid]

Please call member services to check your account since the member website is or was wrong a few days ago. It showed all my points gone from 2009 and we can't access those points yet. You might find you are okay after all.
Hope everything is above board Joan

 

[mydogdrew]

I don't see how this could be correct. Last summer with December UY the seller could borrow 2006 points but not not 2007 or 2008. You actually got a pretty good deal with no closing. You'll be fine. We are having trouble with our on-line records as well with our new AKV contract.

 

[Delaware Mike]

Skunk,

I'd call Member Services. Something isn't adding up. I agree that this sounds like a systems issue, and not necessarily a problem with your contract.

 

[skunk]

Actually, I called member services prior to my original post, and asked why it showed 150 available online for 2009, but 0 for 2007 and 2008. She asked if I had purchased resale, I acknowledged, and was told they could not check history of previous owner transactions. No points left for 2007 or 2008. I didn't think you could borrow or transfer 2007 or 2008 points when you were in '05 UY, but figured she knew what she was talking about.

I just called back again. Member services couldn't explain it, so I was transferred to administration, and then transferred again. She started going thru my history, and I explained I was not questioning the 98 banked points, but why online it shows 150 points in 2009, but not in 2007 or 2008. She couldn't give me an answer, and as she is off on Monday, I won't know anything until Tuesday.

Hope I was premature with my original post, but I can't say calling member services has raised my confidence level very much.

 

[Cricket2]

...but figured she knew what she was talking about...

The most difficult thing is they really believe they know what they are talking about, but in reality, many of them are so misinformed it is easier to just hang up and call again because they will not listen. Many times the supervisors are even more clueless than the MS agent and just reinforce their misinformation. I have had them tell me such off the wall things that I started to laugh out loud at how silly they sounded. I swear I chant to myself "no whammy's, no whammy's" while on hold.

The most recent one was, "Sir, you can't borrow on this contract from next year until you use all your curent year's points from your other contract".

 

[Deb & Bill]

Doesn't title insurance help in this situation?

 

[CarolMN]

It is possible that the previous owners paid for a cruise with the "missing" points. But I think it is more likely to be a website issue. Hoping Member Administration will be able to straighten it out - I agree that Member Services probably has no idea how to help in this situation.

If it truly turns out to be a "stripped contract", get out all your purchase/closing documentation. You may have a case against the broker and the closing company.

Good luck!

 

[Dean]

Doesn't title insurance help in this situation?

No, title insurance only covers the ownership, not the variables like who gets this years week.

I too suspect this is a system problem.

 

[Mickmse2002]

The most recent one was, "Sir, you can't borrow on this contract from next year until you use all your curent year's points from your other contract".

I must have had the same person. I called to extend an existing reservation two more nights using BCV points borrwed from the 2008 UY. She told me I couldn't do that as I had BWV points available and therefore I couldn't borrow. When I pointed out to her that I had already done this for the initial reservation she sounded confused, put me on hold for about ten minutes finally came back on and did it the way I wanted. It's a crapshoot sometimes.

 

[Boston5602]

The most difficult thing is they really believe they know what they are talking about, but in reality, many of them are so misinformed it is easier to just hang up and call again because they will not listen. Many times the supervisors are even more clueless than the MS agent and just reinforce their misinformation. I have had them tell me such off the wall things that I started to laugh out loud at how silly they sounded. I swear I chant to myself "no whammy's, no whammy's" while on hold.

The most recent one was, "Sir, you can't borrow on this contract from next year until you use all your curent year's points from your other contract".

I must have had the same person. I called to extend an existing reservation two more nights using BCV points borrwed from the 2008 UY. She told me I couldn't do that as I had BWV points available and therefore I couldn't borrow. When I pointed out to her that I had already done this for the initial reservation she sounded confused, put me on hold for about ten minutes finally came back on and did it the way I wanted. It's a crapshoot sometimes.

Sometimes I feel like a dummy asking some of the questions I do , but I guess it's better to ask here so I know when I'm on the phone with MS what can and can not be done!


Thanks Everyone for all your help by the way!!!

 

[ANIMO]

One would think with a company the size of Disney they could update and manage their website better it is always wrong!!!!! Hopefully that is the problem, how could they have banked points but none for the next 2 years??????

 

[castleri]

You could bank points and then decide to take a trip in this use year. You cannot borrow back the banked points so need to use the ones from the next UY. I don't think you can borrow more than one year so that is why it seems most likely that there is a problem with DVC accounting here and not that the points are actually gone. I don't know if it is possible to use points that are further out for trades with II or for cruises. I thought that if a contract was sold any reservations for after the sale(closing) date were cancelled and the new owner then had the points to use but may have misunderstood that part of the procedure.

 

[Paging Tom Morrow]

Just for the record, we purchased an add-on @ BCV about 6 weeks ago through Disney.

Our 2008 and 2009 points did not show on the dvcmember site for a few weeks.

 

[skunk]

I just check online, and my points now show available for 2007 and 2008. Whew!! Sorry I jumped the gun with my post. Better info here than DVC!!

"Wisconsin jumps to top of AP poll"

 

[Delaware Mike]

I just check online, and my points now show available for 2007 and 2008. Whew!! Sorry I jumped the gun with my post. Better info here than DVC!!

"Wisconsin jumps to top of AP poll"

Wonderful! I'm so happy everything turned out well for you!

 

[Dean]

I just check online, and my points now show available for 2007 and 2008. Whew!! Sorry I jumped the gun with my post. Better info here than DVC!!

"Wisconsin jumps to top of AP poll"

I'm glad it worked out. Don't you just hate it when you get your adrenalin going and it ends up being for nothing.