Yes, I understand the risks of banking, but this change of plans was not our fault.

[Sandisw]

maybe they could let owners file a new deed with a changed UY... for a small fee.

I tried that years ago and was told no. I had to sell the contract so I could buy another one with a better UY.

Plus, I am not sure there would be any benefit for DVC to allow that type of change.

 

[Matty B13]

I tried that years ago and was told no. I had to sell the contract so I could buy another one with a better UY.

Plus, I am not sure there would be any benefit for DVC to allow that type of change.

Maybe they will reconsider due to recent event. I’m sure a lot of owners want to change their UY’s.

 

[maciec]

It’s very frustrating to say the least. I feel your pain. We used our points to book during the same time as the Monster Jam World Finals was happening. We were going to go to both the world finals as well as hit a park or 2. We’ve had this planned for over a year. We bought trip insurance for the truck show tickets, but Feld Entertainment is refunding everyone the cost of the tickets so it wasn’t even warranted. For us that’s ($1600). At this rate we will lose our points because we have a June UY. I don’t consider planning a trip for May “taking my chances”. Circumstances as they are it’s called life. This was an unexpected pandemic and everyone is paying the price. However there should be some compromise so that neither party ends up the loser.

 

[Sandisw]

Maybe they will reconsider due to recent event. I’m sure a lot of owners want to change their UY’s.

While a few UYs are getting caught up in this, to be honest, it’s the timing. No matter when it would have happene, anyone with trips late in UY would be in the same position. It just so happen this hit to have an impact mostly for April and June UY.

Like I said, Disney only changes UY in order to sell contracts, and I bet it doesn’t even happen that often.

Like I said, DVC would have absolutely no reason to get involved with changing deeds for owners.

 

[tidefan]

We've got a week at VGF at the end of May. That reservation was 153 points that have a December use year. We banked 21 from 2018 into 2019, used our 100 2019 points and borrowed 32 from 2020. If we cancel (which it is looking like it will as it looks like June 1 is the targeted opening), then I can use the 21 banked points later on another reservation, but it's more the 32 points that came out of 2020 that bug me. So, next year, I'll only have 68 points and can't book VGF for a week unless I borrow even more from 2021. Sigh...

 

[Sandisw]

We've got a week at VGF at the end of May. That reservation was 153 points that have a December use year. We banked 21 from 2018 into 2019, used our 100 2019 points and borrowed 32 from 2020. If we cancel (which it is looking like it will as it looks like June 1 is the targeted opening), then I can use the 21 banked points later on another reservation, but it's more the 32 points that came out of 2020 that bug me. So, next year, I'll only have 68 points and can't book VGF for a week unless I borrow even more from 2021. Sigh...

They are currently returning borrowed points. So, if you cancel before they change the rules, those 32 go back.

 

[tidefan]

They are currently returning borrowed points. So, if you cancel before they change the rules, those 32 go back.

Ah. Did not know that. Thanks!

 

[dismedvc]

I know there are rules about banking. I know there are rules about borrowing. I know there are rules about vacation club procedures. But I want DVC to come up with a plan to help us out. I would like our April 30th deadline pushed back so I know for sure whether or not a May 24th trip will happen or not. If this trip doesn't happen, I would like future use of all of our points that we stand to lose because of no fault of our own. If we can't use all of our points with DVC, then I would like to be able to use them with other WDW resorts. If we don't get our points back, we've not only lost a great deal of money, but we won't be able to have our next WDW trip for another 2-3 years while we build the points back up again.

I share your pain. One of the big selling points from our salesperson when we purchased DVC was how you could bank and borrow to potentially use your points only once every three years for a major family vacation. I understand that regardless of what the salesperson said we are bound by the actual written terms of the POS, but in this (hopefully) once in a lifetime situation, I would hope Disney/DVCM will do what they can.

ETA: I posted a thread titled "Penalized for being prudent" and many of the replies to that thread effectively said I was foolish for banking points to have a larger family vacation in the future. They said borrowing was a better way to go. (As if they knew DVCM would change the written terms of the POS and allow borrowed points to be returned. The POS clearly states that once borrowed, borrowed points have the same restrictions as banked points) Sorry, at least a little, for the rant in this ETA.

 

[KAT4DISNEY]

There have been so many similar posts on here. I read thru them and get both depressed and defensive. When we bought in to DVC, our WDW vacation month of choice was Sept. However, at that time, our oldest grandchild was only 7 yrs old. Now that our grandchildren are in college and high school, we can no longer travel in Sept due to school sports, all of the different school schedules, after school jobs, etc. So we've had to switch to summer vacations, which require more points than Sept. At the same time, we also need larger accommodations due to the larger number of grandchildren. That also requires more points.

With all of these extra points needed, we now have to bank and borrow. So yes, we do have to travel in the last 4 months of our UY. This Memorial week-end 2020 trip was planned a couple of years ago, and points were banked to make it happen. Our ideal villas were booked, good FP's made, airfare purchased, etc. Christmas gifts involved premium MagicBands, Disney gift cards, Disney shirts, etc.

Then along comes Covid 19. Part of the family is adamant about keeping our plans intact, while the other half is thinking this trip won't happen. We all want this trip to play out just like we planned. So what do we do? We've missed one banking deadline already for an add-on membership, and now our next banking deadline is coming up on April 30th. That membership holds the majority of points. But will we know for sure by April 30th that the parks won't be open? Our fear is that we will cancel and then find out later that WDW opens by Memorial Day and our trip would have happened.

I know there are rules about banking. I know there are rules about borrowing. I know there are rules about vacation club procedures. But I want DVC to come up with a plan to help us out. I would like our April 30th deadline pushed back so I know for sure whether or not a May 24th trip will happen or not. If this trip doesn't happen, I would like future use of all of our points that we stand to lose because of no fault of our own. If we can't use all of our points with DVC, then I would like to be able to use them with other WDW resorts. If we don't get our points back, we've not only lost a great deal of money, but we won't be able to have our next WDW trip for another 2-3 years while we build the points back up again.

We've prepaid for our Disney vacations by paying our yearly MF's. We've invested in Disney with our loyalty as well as our wallet. We're asking Disney to make an exception here and give DVC the same 7 day cancellation, full refund (points), that cash customers are receiving during this pandemic.

Yes, we all know the rules, but during this pandemic, exceptions should be made. Disney is a big company. Disney has the means to make this happen.

If you're thinking you'd really all like to go if things open up then I say just wait until April 29th or 30th and if there's no decision yet then cancel and bank the points you can. Leave the FP's in place. For the airfare it will depend on what airline and what they are doing assuming your flights haven't been changed or cancelled due to all the scheduling changes going on. By leaving FP's and airlines in place you still have options to recover rooms if Disney does reopen - there's probably going to be lots of availability.

I get the disappointment. We had a big family trip, awesome rooms and good FP's all planned to start one week from now. We'll plan for some other time. It may not be exactly the same but all the trips are fun.

 

[TraderSamWDW]

I tried that years ago and was told no. I had to sell the contract so I could buy another one with a better UY.

Plus, I am not sure there would be any benefit for DVC to allow that type of change.

I am not saying that this is possible, nor that it would be of any benefit, but a few years ago Disney was not even able to change UY on points they had declared. Now they can - I do not know what clause or privilege they invoked - and if I remember it was some time last year - but it does make it easier for them if they can move points to a different UY to fill wait lists.
But I cant see them going down this rabbit hole.

 

[Sandisw]

I am not saying that this is possible, nor that it would be of any benefit, but a few years ago Disney was not even to change UY on points they had declared. Now they can - I do not know what clause or privilege the invoked - but it does make it easier for them if they can move points to a different UY to fill waitlists

Yes, from what I understand, UYs are an internal accounting of the points and that DVD assigns them in an arbitrary way,...not all resorts have the same percentage of points in each...and so they were allowed to amend those practices for sales.

What I wonder is if they do some level of swapping as they ROFR...ie: change a UY of points to sell, then when they acquire one with RoFR, swap it back to keep things in line.

 

[CastAStone]

It seems to me that one small solution to the presumed current point banking glut would be to allow people to move their use year out with no make good - you current points still expire on their existing schedule, you owe your normal MFs, and as a result you may have no points for several months, but if it's important to you to move your UY it would be worth it to some people

 

[mort1331]

As said before, UNI has cancelled till end of May. Cancel yours and bank. It will be there to enjoy another year. Make sure you are.

 

[FSUSammy]

I can't help but wonder if having they not been so strict on how resale owners could use their points if that would help offset things. Like saying they can't use their points towards a cruise etc. Not sure if relaxing those rulings would help things at all or not.

 

[Sandisw]

I can't help but wonder if having they not been so strict on how resale owners could use their points if that would help offset things. Like saying they can't use their points towards a cruise etc. Not sure if relaxing those rulings would help things at all or not.

I wonder too how that is impacting this. That was a legal change...like the restrictions for RiV, etc....so I don’t imagine it can be just relaxed, which could be why it’s an issue.

I just don’t see how they can change that rule for some points and not others, from the standpoint of how I believe those restrictions were out in place.

 

[starry_solo]

I don't think DVC will do anything to make everyone happy. Whatever they decide to do (or decide not to do) is going to make some people happy and some people upset. So, I would go with the thought that what their decision is right now (to not allow people to bank past their banking deadline and to return borrowed points back to the original use year) is going to be it.

 

[marcyleecorgan]

Fascinating. Should this exception be made for the other thousands of DVC owners too? That is the point of a timeSHARE.... everyone shares the accommodations and the reservation calendar for those accommodations. To make everyone whole, I guess they could have multiple owners share the units and distribute a lot of inflatable beds! Sleepover party with strangers! There is simply no way that they can jam all those lost points and units back into the reservation calendar.

 

[_auroraborealis_]

Fascinating. Should this exception be made for the other thousands of DVC owners too? That is the point of a timeSHARE.... everyone shares the accommodations and the reservation calendar for those accommodations. To make everyone whole, I guess they could have multiple owners share the units and distribute a lot of inflatable beds! Sleepover party with strangers! There is simply no way that they can jam all those lost points and units back into the reservation calendar.

Well, the SHARE is also of risk. The whole point of DVC is to offload all risk from Disney to condo associations. And now everyone wants Disney to take back some of the risk.

 

[CastAStone]

Well, the SHARE is also of risk. The whole point of DVC is to offload all risk from Disney to condo associations. And now everyone wants Disney to take back some of the risk.

Isn’t the fair and proper solution then to make everyone forfeit however many months worth of points that the resorts are closed for? EG if they’re closed for 4 months someone with 120 points gives up 40 points?

 

[WilsonFlyer]

I don't think DVC will do anything to make everyone happy. Whatever they decide to do (or decide not to do) is going to make some people happy and some people upset. So, I would go with the thought that what their decision is right now (to not allow people to bank past their banking deadline and to return borrowed points back to the original use year) is going to be it.

I haven't posted much in the past week because of exactly this. I have a quiet consolation in knowing that the lawyers are going to have a field day with this when the suits finally get filed. I'm going to have a great deal of satisfaction in knowing that, "I told you so." once everybody finally has to concede that borrowing and banking were the balance in the system and that DVCM unilaterally broke the system by allowing borrowed points to be returned.