You are here:

Time-Shares/What happens if I stop paying for my timeshare?

Advertisement


Liliana Wong wrote at 2013-07-09 18:43:49
If you ever decide to stop making your annual payments, we suggest you to give it a second thought. Protect your finances. Even if you bought your timeshare in Mexico, your credit report can be seriously affected. Timeshare resorts work along with collections agencies located in the US and Canada.  Once you stop paying your annual fees, they will sell your debt to a collection agency. The collection agency will report your timeshare debt to the IRS (Internal Revenue Service), which can make future financial investments extremely difficult, and sometimes impossible. http://www.timesharescam.com/blog/127-what-happens-if-i-stop-paying-my-timeshare


Time-Shares

All Answers


Answers by Expert:


Ask Experts

Volunteer


Kate Morgan

Expertise

I can answer questions about cancellation of a timeshare or vacation ownership whether it is a recent purchase or a purchase that is 20 years old. I can offer assistance regardless of where you live or where you purchased, including Mexico. Regardless of whether or not your are paid in full or still making payments I am able to assist you in getting out of your timeshare. I cannot answer questions in regard to resale or rental income.

Experience

I currently work for The Owners' Advocate, a consumer rights advocacy group representing timeshare owners who have encountered fraud or misrepresentation, or simply want to be out of a timeshare that is paid in full. Previously I worked in the timeshare industry for several years as a Quality Control Manager. As a QCM I reviewed the paperwork with clients and answered any questions at the time of sale. In addition, I assisted clients with issues, questions, or cancellations that arose after the purchase.

Education/Credentials
I have a Timeshare License and previously held a Real Estate License. I also worked for a Title Company as a Closing Coordinator.

©2016 About.com. All rights reserved.