Sad day--quitting is so easy

[Fargoman2]

Not to set a dreary Monday tone, but we have reached the PAINFUL decision that we can no longer continue with our DVC membership. We are about 18 months into it and realize that the responsible thing to do is to end the dream.

We ran into a little bad luck--lost our basement (and my wife's daycare business) in the flood last spring. Even with flood insurance, we had to and continue to dig ourselves out of the considerable costs of rebuilding our basement and getting her business up and running again. Trying to sustain our Disney dream in the process is just simply too much. That's o.k., as I know there are worse things in life (just turn on the news and you can see REAL problems people are dealing with). Still, it's a bummer.

What surprises me is just how easy it is to "quit" our membership. When I called today to ask about the "procedure" for letting go, I was amazed that the person on the phone didn't go into customer retention mode. I know when I switched satellite TV service a few months back, I was immediately sent to a customer retention agent and have had numerous "please come back" offers since. I mean, I appreciate that she didn't pry, but I'm surprised she didn't forward me to a retention department or something. I would have thought Disney would be trying to see if there is truly any way to "save" the account. Please don't misunderstand--I don't want them to beg me to stay, I'm just surprised they didn't make any retention effort.

In any event, it's a tough day. Tonight, we have to tell the kids the bad news. That won't be fun--but I think it's an important life lesson--for the whole family.

Thanks for letting me share.

 

[amystevekai&bump]

i'm so sorry to hear your sad news - I'm sending you and your family a big and hope that you have some brighter days really soon!

 

[tonyolily]

I know that was a hard decision for you to make. I'm so sorry!!

I hope that things get better for you and your family.

 

[Caren]

They know that if they treat you nicely you'll be back when you can.

 

[Redwolf8812]

Yes, there are much worse things in life, but it's certainly ok to be disappointed. The economy stinks right now.

 

[DebbieB]

How does that work? Are you selling your membership back to them? Would you be able to get more for it on the resale market?

 

[chalee94]

How does that work? Are you selling your membership back to them? Would you be able to get more for it on the resale market?

if DVC has ever paid directly for a contract, i'm pretty sure it has only been for BCV and less than resale.

if you owe a ton on a contract and have only been paying interest for the first year or so...you can just give it back to them rather than force them to foreclose on it to take it back - which is what this sounds like...

 

[tritrk]

if you owe a ton on a contract and have only been paying interest for the first year or so...you can just give it back to them rather than force them to foreclose on it to take it back - which is what this sounds like...

As a Realtor it sounds like it might be cheaper for them to just take it back than go through the whole foreclosure routine. There are 2 more HHI units going to the auction block this month here in Beaufort, SC. We have seen 2-4 units a month on the block. Part of the times.

 

[cseca]

I'm sorry
But there will always be resales and when the time is right I'm sure you will become members again.
Good for you for doing the right thing.

 

[omalley1118]

I too am sorry to hear about your bad luck and tough decisions. We recently made the decision to take our 2 kids out of their private school and place them in our township schools next year. This is also a tough decision driven purely by economics. To keep perspective, I remember that we are lucky to have a roof over our heads, food in our stomachs and decent healthcare.

 

[disneynutz]

Not to set a dreary Monday tone, but we have reached the PAINFUL decision that we can no longer continue with our DVC membership. We are about 18 months into it and realize that the responsible thing to do is to end the dream.

We ran into a little bad luck--lost our basement (and my wife's daycare business) in the flood last spring. Even with flood insurance, we had to and continue to dig ourselves out of the considerable costs of rebuilding our basement and getting her business up and running again. Trying to sustain our Disney dream in the process is just simply too much. That's o.k., as I know there are worse things in life (just turn on the news and you can see REAL problems people are dealing with). Still, it's a bummer.

What surprises me is just how easy it is to "quit" our membership. When I called today to ask about the "procedure" for letting go, I was amazed that the person on the phone didn't go into customer retention mode. I know when I switched satellite TV service a few months back, I was immediately sent to a customer retention agent and have had numerous "please come back" offers since. I mean, I appreciate that she didn't pry, but I'm surprised she didn't forward me to a retention department or something. I would have thought Disney would be trying to see if there is truly any way to "save" the account. Please don't misunderstand--I don't want them to beg me to stay, I'm just surprised they didn't make any retention effort.

In any event, it's a tough day. Tonight, we have to tell the kids the bad news. That won't be fun--but I think it's an important life lesson--for the whole family.

Thanks for letting me share.

Disney didn't try to retain you because they are probably is shock that you actually called them to give up your contract.

Most people would try to sell their contract on the resale market to at least make some money on the sale. Have you considered that route?

Bill

 

[DVCGeek]

Sorry to hear about it. Good luck for a fast recovery and hopefully you'll own again and a warm "Welcome Home" soon!

 

[BEASLYBOO]

Times are hard and you've made the decision needed for your family at this time but as many posters have said, the good Lord willing, good times will come again and DVC will be there if and when you ready and interested.

Best of luck to you and your family.

 

[disneymom2one]

We did it ourselves several years ago. It wasn't the right time for us and the contract was both financed and too big.

We got things back on track and were able to buy (with cash) a small 50 point resale contract last fall. We were welcomed back with no problem and even have the same guide.

My favorite moment so far? Paying those small annual dues in one lump sum in January - and knowing that was it. I've paid for DVC for another year. Great feeling.

 

[Astros]

Disney didn't try to retain you because they are probably is shock that you actually called them to give up your contract.

Most people would try to sell their contract on the resale market to at least make some money on the sale. Have you considered that route?

Bill

I'm really puzzled here. Why would any one just give the contract back to Disney instead of reselling it?

 

[La2kw]

Sorry you had to do that. Wishing your family luck in getting back on it's feet!

 

[twinklebug]

I'm really puzzled here. Why would any one just give the contract back to Disney instead of reselling it?

I suspect the OP has a loan through Disney. Like with a car loan, over the duration of the first year or so, the cost to pay off the loan could be higher than the value of the car itself... which is why it pays to shop for the best interest rate around.

Fargoman2 and I have owned for about the same duration. I financed for the first couple months and paid the loan off in chunks so I could get cc rewards. My spreadsheet I had created back at the time shows that if I had instead held onto that loan making the minimum payments, with the going rates out there now I'd be around break even for what I owe to it's value.

Providing Disney isn't hitting up their credit report or charging a large fee to take back the contract I think Fargoman2 and his wife are doing the right thing. It's heartbreaking giving up something that you know brings the family joy, but the time will come that they can own again.

Fargoman2, it sounds to me like you have your priorities right. Here's hoping all goes well and your finances recover faster than you imagined. We'll save a rocker for you

 

[FindTheMickeys]

Good luck and God Bless! It sounds like you have your priorities in the right order and you will be back

 

[iwrbnd]

I'm sorry to hear that! Your ticker says "3 years since last Disney vacation". Did you ever get to use your DVC membership?

 

[Deb & Bill]

I'm really puzzled here. Why would any one just give the contract back to Disney instead of reselling it?

Maybe they still owed a bunch on it (financing the purchase) and might not be able to sell it and pay the commission and come out at zero or better.