What Happens if I Stop Paying My Timeshare?


Timeshare foreclosure and your credit scoreThis question comes up a lot on timeshare forums and blogs, and it can be complicated depending on the exact procedures outlined in your particular contract. There are a few main points that stay the same regardless of whether you have a deeded timeshare or right-to-use, and whether or not you have paid off the entire amount of the timeshare. The following is a description of the steps that will take place if you decide to throw in the towel and allow your timeshare to go into default, leading to timeshare foreclosure.

Timeshare is treated equal to real estate in the eyes of the law, and it follows the same rules and regulations as a homeowners deed. Your timeshare can foreclose in the same way as your home if you stop making payments – and this does not just mean payments on the principal balance, it also includes yearly maintenance fees. After your first missed payment, whether it be a monthly payment on the principal balance or your maintenance fees, you will start receiving calls from your timeshare resort’s collection company attempting to collect a payment. You will also receive information by mail detailing the amount due, including any applicable late fees, and their intentions on reporting your delinquency to the IRS.

The harassing telephone calls and letters will continue if you choose to not pay the balance due on your timeshare, and after anywhere from 6-24 months (this is dependent on the procedure of your resort company) your timeshare company will begin foreclosure proceedings on your timeshare. Timeshare companies will try to avoid this at all costs because a foreclosure means they have to take the property back and pay legal fees for the proper paperwork to be processed. I have heard instances of resorts offering to lower the amount due on the principal, changing contacts to make maintenance fees due only every 2 years, adding extra perks into your vacation package such as extended stays, rental cars, airfare, and sometimes even offering to forgive the amount owed if the two parties can reach a suitable agreement for payments to continue.

What happens if I stop paying for timesharesIf your timeshare does go all the way through the foreclosure proceedings you will be notified by mail that your deeded timeshare will be part of a trustee’s sale or public auction. At the given date, time and place your timeshare will be sold at a sheriff’s auction to the highest bidder. The auction is public record and the transaction can be recorded and reported to the IRS and credit bureaus, effectively ruining your credit for the next 7 years. This strike on your credit score can make it difficult to finance a car, obtain a loan or even buy a home. Since timeshares rarely sell at auction for the amount owed on the deed, the timeshare resort company has the option to take legal action and sue you for the remaining balance owed.  Read more on timeshare foreclosure and credit scores in the post – Timeshare Foreclosures and Your Credit Score

Timeshares can be hard to wiggle out of, but most anything is better than letting the property foreclose and take a major hit on your credit score – especially if you are anticipating a major purchase in the near future. Timeshare foreclosure should be your last resort if there is absolutely no way you can make the monthly or yearly payments. It is wise to contact your timeshare resort if you are having financial difficulties and anticipate missing a payment, some properties will even offer to take your timeshare back under some circumstances; some resorts will also offer a Deed in Lieu of Foreclosure. You will also want to check out possibly donating your timeshare if the principal amount is paid off in full – this is not an option if you still owe money on a loan.

Helpful Timeshare Foreclosure Links:

Deed in Lieu of Foreclosure for Timeshare -  http://rcivip.com/deed-in-lieu-of-foreclosure-for-timeshare/

Timeshare Foreclosure and Your Credit Score – http://rcivip.com/timeshare-foreclosures-and-your-credit-score/

Alternative Timeshare Sales Options – http://rcivip.com/alternative-timeshare-sales-options/

1,823 Responses to “What Happens if I Stop Paying My Timeshare?”

  1. sarah says:

    We bought a ts with occidental/allegro vacation club. We purchased it in Mexico. We live in the us. We want to quit paying and end the misery. However, we purchased our home via owner financing and have 2 more years before we have to refinance it out through a bank. We also have a business that relies on our credit to operate. I have a couple of questions: 1. Has anyone on here had experience walking away from occidental and did they report it to your credit? 2. Does anyone know if occidental will accept deed in lieu? 3. How much of a. Impact does this really make on credit?

  2. jd123 says:

    Does anyone know about Gold Key and Ocean Beach Club LLC, they must be one in the same.

  3. Eric says:

    I am unfortunately fall into the timeshare scam, I’ve already lost 22k from the Sunset and they’ve already taken that money from me, that including some maintenance fee all charged to the credit card that was taken from me when we went to mexico and was invited to sit to their scam presentation. I still owe like 18k thousand to complete the payment. never used it and will never used it ever. I also seek the help of some timeshare support whom is located in Florida, got them from a website that promises the can help me cancel the membership,its been 2 years now and they can’t give me anymore help with the TS company, after sending them letters after letters of asking how i was mis-represented in that TS presentation i paid them 2.5K to help me get rid of the timeshare but nothing is happening until now.
    I just got a letter from TS company threatening me that they will now send me to the collection company, they will for sure wreck my credit score and maybe will no longer be able to borrow any money from whoever, but I don’t want to give them anymore money as i have told that I will never use that membership and was talking on the phone that they can keep the money just don’t bother me anymore, but they knew that the hold me on that contract and would want me to finish the payment but I told them you can keep the money just don’t bother me anymore, they still threaten and will send me to the collection agency, what can I do at this time??
    please help, anyone? I do not want to give them any single cent. NO more!!!

  4. Ann says:

    I already paid my time share in full. However, I stopped paying my maintenance fee about four years ago. Now I received a letter from collection saying I owed about 2k in maintenance fee. I want to get rid of this timeshare without paying another dime. What should I do to avoid paying and also hurting my credit score?

    • Robert says:

      By the time it’s gone to collections they probably already reported it to the credit bureaus. Check and see if they did, if you are not going to be buying a major item I wouldn’t worry. I think it’s just a blip on your credit score anyway. If you are really concerned pay it and keep paying forever. Plus you are paying a collection agency, so what good is that? Do you want your TS back? Just let it go, or pay and stay a slave to those TS companies that are overcharging people 4 times or more what they want for maintenance fees. Westgate want’s almost $1000 per week. They couldn’t even rent the places they offer for $4000 a month, it’s a scam.

  5. D says:

    I know some people who purchased a timeshare back in 2007. They stopped paying on it in 2011. It went into collections and then a new loan servicer picked it up. So, far, though, they have not received any requests to pay on the loan or any information about a foreclosure. They’re not sure if they want to keep it. Should they just wait?

    • Robert says:

      Yeah, let them wait it out. I think the statute of limitations runs out 7 years after your last payment, unless you even agree to or pay even $1.

  6. Lisa says:

    My husband and I bought a Silverleaf timeshare. When we learned we couldn’t use it the way we wanted, we expressed displeasure and had to sit through another 5 hours upwell to a “better” plan that we could use the way we intended…. It was such a crock. So we are less than a year into our timeshare ownership, our several thousand dollars, and want out. All the timeshare resell brokers we see look like scams. Silverleaf won’t take our membership back, and I want to stop paying. My biggest worry is that is will destroy our credit. Or affect the home we just bought. Anyone have any experience with silver leaf in particular? Did it reflect poorly on your credit or affect you in any other way to just stop paying ?

    • Ron says:

      Yes – it will reflect on your credit because our congressmen must take bribes from the timeshare criminal industry to allow this legalized extortion.

      No – it cannot affect your home. They cannot put a lien or any other nonsense. This is because they have no legal standing. They can only harass you through the collection agency loophole.

      Yes – they are the lowest scum on the planet and the world will be a happier place when they no longer waste oxygen.

  7. zell says:

    Hello everyone, I am so glad I found this website because I am in the same situation. I bought a timeshare last month in westgate resorts in Las Vegas after a very tiring “interrogation-like presentation”, signed and initialed all the papers they need to be signed because we were so tired not knowing the whole thing what the contract says. 2 days after signing the contract my husband was going through the documents and found the public offering statement book (pink book) and read the part where it says we can cancel our contract. We called the person whom we signed in front ofto inquire about cancelling the contract and she told us she will do it in her computer and that we don’t have to send anythin because everything is taken cared of, we called her again because the form says we need to send a written notice but she said it’s already done and we don’t have to worry about it. We feel like we were fooled twice. Now we’re seeking for a lawyer who can help us get out of our contract and then we found this website. I am confuse right now of what to do. Is it really true that lawyers can’t help and that it’s better to just not pay it?

    • BaldSpot says:

      Do not pay anything. Absolutely do not pay any money ever. Do not send any money ever, even if they promise to release you from the contract if you pay them $600 or something. Do not pay! When you send them any money, they laugh at you for being a fool and the clock starts over. Think “Nigerian Scam”. They lied and defrauded you. If they harass you, look up the laws about harassing. You should also write to the Nevada State Attorney General and give them a factual explanation of how the sales person treated you and lied to you. Don’t pay because it’s money in the hole. You will never get anything for it.

  8. lucy walls says:

    Hi guys advice needed. We have points at orange lakes Florida and can’t afford to pay it. Is there a way we can get out of it. Any advice appreciated

  9. anita says:

    we own Vacation Village and Wyndahm TS.(young and gullible at the time) The TS are paid in full. I want to quit paying maintenance fees which never seem to stop increasing. Florida has doubled since we bought 14 years ago. I want to just let it go. Cant sell or give it away. Do charities really take this crap? Any way have very good credit and no need for a home loan in the future. Scared but can’t keep paying. Any advice?

    • anita says:

      Also wondering if I should send them a letter or just not pay? Bald Spot, Robert?

      • R says:

        First ask them if they will just take it back from you. Also check out tugbbs.com, where they have boards that allow you to advertise your timeshare and/or give you some good advice.

    • BaldSpot says:

      Some charities will take a timeshare only if you pay them hundreds for title transfer etc., and the timeshare might also charge you hundreds more for their paperwork IF they approve of the transfer. You could just as easily send a wheelbarrow of money to a “charity” only to find out something went wrong and you still own the timeshare. Screw all that.

      Realize a simple fact: The maintenance fees increase every year until you cannot pay it. Perhaps you are going to retire and suffer a significant drop in income, or medical bills will increase with age – etc. Eventually, you will be forced to stop paying, and then the big fight with the timeshare comes. Why not start the fight now and put your annual maintenance fees in the bank instead of sending them to the thieves? When I stopped paying my annual maintenance fee, I just loved the feeling of not throwing away enough money to buy an iPad every year.

      When I stopped paying my fee, I wrote to the timeshare and explained it – of course, they don’t care why you are stopping. So then the threatening letters started. I filed them every month for a couple of years, and then when the collection agency wrote, I told them I would not pay for something I was not allowed to use. In the end, I was released from obligations and now I roll around in all the pile of money I used to send to the thieves! Feels good!

      • anita says:

        Thanks! It helps hearing from people who have been there done that. I think I will send an initial letter that I will not be paying maintenance fees and they can have the deed back. We pay one of them monthly and did use that one this year so I am thinking I should pay on that until December anyway… Not sure. The other we pay in one large sum once a year and will not pay on it again.

      • Eric says:

        I haven’t paid my maintenance fees in years(probably about 5)and the TS is paid for.Just recently I started get letters from a collection company and a few calls none of which I answer or reply to.Should I do anything or just let it play out? Ive heard they cant report it legally to the credit bureaus because the TS company never has,is this true?

        • Vickie Spires says:

          I am in pretty much the same position, paid for the time share and quit paying maintenance fees several years ago. We just refinanced our house, and this DID show up on our credit report. It was the only bad mark, so we were approved for the refinance. I am getting phone calls and letters from a collection agency which I have just ignored. Just recently I am getting calls from a caller who says he is a federal investigator in Mexico, investigating fraud. I don’t trust anyone on the phone, though. I am afraid it is just the collection agency, so I haven’t answered.

          • vera says:

            i stopped paying my maintenance fees as well as monthly payments. I got a call from this collection agency asking how much can I pay to settle this debt and walk away clean. I quoted a low figure and they accepted it. Now I’m wondering who am I dealing with and should I pay this amount of money. Give me some advice.

  10. Thanks. I Will stop paying maintenance fees on 2 timeshares immediately. I am 73 years old , have great credit, don’t see that I will be buying anything more than a car in the future. They( TS people ) can have the property back. It seems that not much can happen. Am I correct in assuming this is smart.?

    • BaldSpot says:

      You have the idea. Stop paying. Also, let your family know that the courts do not uphold any clause in the contract that says your survivors are obligated to pay your maintenance fees. Such a clause is without force because you cannot obligate another person in a debt or contract without their signature.

      One thing I failed to mention in my other posts: The same time I stopped paying my maintenance fees, we cancelled our land line phone and bought an Ooma phone that goes through the internet. Our phone number changed, so we never got harassing phone calls. That was nice. We’ve had Ooma for several years and we LOVE it! I think we pay around $4.30 a month for unlimited nationwide calling. Must have high-speed internet, though.

  11. Rhonda says:

    We purchased a vacation package from Mexico about 3 years ago. In total it cost about 2500 and we made monthly payments. It is different than most timeshares in that it is just vacation weeks… There are no maintenance fees. We stopped making the payments just because we had financial difficulties and so still owe about $400. We have been contacted by phone and letters from the collection agency but I have never responded. It has not appeared on our cedit rarings either. My fear is that the next time we go to Mexico we would get arrested because we owe this money. Is that possible?

    • Robert says:

      I don’t know their laws, but it sound impossible. Sounds like a good deal if there are no maintenance fees, so pay it off if you are worried or don’t go to Mexico. you don’t owe the money to the government so why would they put you in jail?

  12. Not Worried Stu says:

    UPDATE.

    FREEDOM….!!!

    Last weekend we received our Deed in Lieu of Foreclosure after almost 2 years of non payment to the Orange Lake TS in Florida. Had it signed and stamped by a local Notary and returned. We are now free from those money grabbing scammers!

    I would like to thanks all those taking interest in this blog and giving regular advise and guidance to many like ourselves especially BaldSpot, Bill and Robert who’s input gave us the confidence to stop paying the Mortgage and Maintenance fee’s in the first instance back in August 2012.

    Many thanks Guys.

    Stu

    • Robert says:

      Awesome, Congrats.

      • Not Worried Stu says:

        Thanks again Robert.

        The first 6 months were the difficult ones due to the constant calls to home and work, hundreds of emails and loads of letters demanding payment from their preferred collection agent. Once all those stopped we couldn’t help but wonder and worry about their next tactic but then recieving the Deen in Lieu lifted that dark cloud.

        They scammed at us for just over $5000 but with thanks to all of you we have saved over $13000 over the last 2 years!

        I hope this blog gives others the confidence it gave us.

        So this is a big $13000 thank you from the UK.

        Stu

      • Jd123 says:

        My Ts is new, I have not made a payment other than down payment that I had said no to shortly after agreeing to it. I have stopped payment on the loan thru them. The monthly payment was to come out auto from my bank I had to change bank acct. They did not inform me of cooling off period and it is to late now. I feel all I have left to do is not make any payments; however I have not payed on Ts or the monthly payment to them is this the thing to do, stop paying? I did try to talk with, Both the business manager and the “Morgage or finance dept” with no help. Looking for some help

    • Dawn says:

      We have one with orange lake..we cant pay..they are rude and will not help. So do we continue to stop paying like you? I guess Im unsure what you mean when you got a deed in lui of forclosure. Help!!

      • BaldSpot says:

        Foreclosure is costly to the timeshare dudes, the “deed – instead of – foreclosure” means you simply deed back the property with a signature without going through court, lawyers, etc. You should not ever pay the TS any money for doing a DILOF because you are giving back their highly valuable (cough – snicker) property which they can resell for thousands.

    • BaldSpot says:

      Totally awesome! I haven’t been here in a while. So good to hear a success story.

  13. TiredOfTS says:

    I purchased a TS at Grandview Resorts/Vacation Village in Las Vegas on June 2nd, 2014. Same as everyone, after spending a full day at their presentation, the Mister & I got suckered into purchasing a TS. After coming home, losing one income, and facing reality that we weren’t able to afford this so-called luxury, I decided to cancel the contract. Only to find out that our cancellation of the contract was 2 days passed the rescission period. I decided not to pay another penny. Even contacted my bank to dispute this matter. TS have been calling and emailing me non-stop (doing their job! Of course, being scam artists is a very persistent profession). They’re trying to give me a more “costly” option of where I have no interest in. But since it’s still early, what are the repercussions? Besides expecting to have 7 years of bad credit, can they sue me, garnish my wage, put a lien on any of my property (rent/own… now or in the future), etc.? I’ve been doing a lot of research but still no luck in this matter.

    • Jorginio says:

      I am in the exact situation. Now they are calling me offering a less expensive package. We also bought ours past June 2nd and tried to cancel it but the 5 days had passed. They are telling us we will need to pay everything since the state of Nevada does not allow them to cancel the contract. Is this true? We didn’t mind taking a hit with the down payment we gave but it doesn’t seem enough to them. Please advice what should we do?

      • Frank says:

        I am in the exact position too. I bought a TS in Orlando Florida. And I just realized too late that I had a 10 day rescission period. I initially thought it was 5! I am contemplating discontinuing my payments as I do not see the advantage of the TS and since I have not even commenced the monthly payments. Maybe it may not be too bad afterall. What are the likely penalties that may accrue to someone residing in West Africa?

  14. Trisha says:

    I received a letter stating they are auctioning the time share along with others soon. What does this mean???

    • BaldSpot says:

      It means you are free! Never pay them another cent for any reason no way no how. They might try to say you owe the difference between what they auctioned off the whateveritis and what you owed. No. Pay nothing. First of all they have to prove they auctioned off the property for that much, and as we all know, nobody would buy it at an auction.

      Now, get out of your chair, open the front door, and yell Yahooooo!

  15. Gabriel says:

    Me and my wife bought a timeshare and several years later were unable to keep up with the payments due to a job change. We tried a couple times to work something out about the past due amounts and late payments, but they wouldn’t work with us. Our account got repossessed July of 2011, and we received a 1099, which we had to put on our taxes as income, so we took that hit. Last year we tried to buy a house, and were told that we had to wait 3 years after a foreclosure, which is what losing the timeshare is considered. So we were supposed to be good this year to go ahead with buying a house. They had asked us last year to contact the timeshare, and ask for a letter to confirm that our account was closed and that they would report the info to the credit bureaus. Well, they did not report the info to the credit bureaus. When we went through the motions to get approved for a home loan the timeshare pops up as an open, past due, delinquent account. We fought with the timeshare company about it, and are now going back and forth through the BBB trying to get them to report it. We found out that even though the 1099 was a cancellation of debt and we took the hit and paid the taxes on it, they can legally still keep the last amount due on the report. So we have resorted to simply fighting to get the account reflected as closed. However, we are not sure if that will be enough. We were told that if we can’t get this fixed on our credit report, then we cannot buy a house until it drops off our credit report….in another 7 years. Our oldest son will be 18 by then. We have never owned or lived in a house, only apartments. I’m feeling lost and frustrated as what to do. How can this really ruin all our chances of getting a house? Anyone have any advice?

    For those comments who say don’t worry about it, just stop paying….be careful. If you don’t care about being able to get another house that may be fine, but unfortunately for us, we are finding out the hard way that not trying harder to find a different solution to getting rid of our timeshare is basically ruining the dream we had of providing a house for our kids to finish growing up in. :(

    Thanks for any advice in advance!

    • J.J. Lanzo says:

      I feel your pain sir. We bought one at Grand Seas in Daytona Beach 13 years ago, I truly despise the industry in such a way that it’s hard for me to describe. There we were a couple of people on the beach trying to take in our vacation, when here comes the timesnare surpent slithering up the beach. Of course Eve my fiancee (not her real name, just a comparison) was instantly mesmarized by this grand deception was frozen to that spot. You couldn’t have budged her with a 100 ton crane. I left and continued my stroll down the beach only to return nearly an hour later to find her still on the same spot in deep trance. To make a long story short as I can, we bought one of these stinking things through all the lies, tricks, and of course the preasure (with my fiancee assisting in sealing the deal) and wound up getting booted out of paradise (metaphore for losing our backside). LOL My take on this experience is, if someone like you or I had sold someone something in the manner in which these people sold us this crap, we would be buried so deep in the leagle system, Al Capone and John Dillinger would look like saints in comparison. These people are crooks, liars, and thieves, and the industry as a whole needs to go away forever. So I can relate.

    • Melissa Feldman says:

      …”Timeshare is treated equal to real estate in the eyes of the law” well, not in my case. I bought my house before I stopped paying for my timeshare…it hasn’t shown up on my credit report; the mortgage broker said I didn’t have any equity built up from it (after owning it for 5ish years). I think it might depend on what timeshare company it is? Are some timeshares more legit than others? Westgate Resorts Blue Tree Orlando is the one that I had

      • Robert says:

        A few people lie here, I think they work in the timeshare business and are trying to scare people. It is not a real foreclosure. They just call it that.

        • sammy says:

          Hi Robert! Could you kindly elaborate more on that? I am with BlueGreen and am in a desperate need to get rid my deal. Any info would be much appreciated!

  16. Belle says:

    My husband & I are still making monthly payments (directly from bank account)on Diamond Resorts property. We are in the process of filing bankruptcy and have not paid our 2014 maintenance dues of $3600. Since our TS is not paid off, what steps should we take? We want to get rid of it and the expenses.

    • Brian says:

      We had diamond resorts ts and just stopped paying both dues and payments. We did a stop payment at our bank and then of course started getting notices and phone calls. After a year or so we finally got a letter that we lost our time share property and a little later right before taxes were due we got a forgiveness of a loan form to claim on our taxes. This didn’t effect our return much but it can depending on the size of the loan that was forgiven. Anyway, we kept the letter with the loan being cancelled and have moved on. Pretty painless if you ask me.

      • gabriel says:

        Sounds painless, that’s what we thought too. Until we went to buy a house. We got the debt cancellation notice for our taxes too. But we found out the hard way that ours not always that simple. We were told we had to wait three years, cuz loss of a timeshare is considered a foreclosure. After three years we are still stuck, because1) the timeshare company apparently never reported our account as repossessed to the credit bureaus and have refused to do so even after trying to talk to them first, then fileing a complaint with the BBB and2)even after the debt cancellation and including that in our taxes we found out that legally they can still keep the last amount owed listed on the credit report. So, we are in a battle to try to get them to at least report the account as repossessed/cancelled/closed, and trying to find other options to obtain a home. :( our situations our totals our what not may be different, do you may have gotten lucky, but alas, not for us! :(

      • Stasevich says:

        Brian, did you have a loan balance still left?
        For me it took 3+ years since I stopped paying to Diamond Resorts.And i wsa just told they have foreclosed and I still did not get letter.
        Did you have to write to them or fight in anyway or simply stopped paying?

        Thanks

  17. Etana says:

    Hi ya’ll. I have had a great time reading all of the comments. Well, not all but the last couple pages. It is pretty refreshing to see so many people in the same position as myself, although of course it makes me unhappy. I bought points from shell vacations club timeshare shit a couple years ago. I still owe 6k, and maintenance fees are a ridiculous $850 or so a year. I haven’t used it one lick and have wasted I feel already 10k on points and the principal loan.

    I want out!! I am very afraid of not paying though. I have of course seen the bastard scammers trying to take more money from me to “get me out.” One was 4k…and I was like…fuck you. I am not afraid of it hurting my credit. I AM afraid of them never letting me go and tacking on fees and costs and more fees and never quitting in 100 years. It seems like the people on this thread know that at some point they really can’t do anything to me. I still don’t want to hurt myself even more. My only other option I see is to pay the remaining 6k somehow and give it away. I would rather just not have to pay to something I will never use. I would love some support :) Thank you very much!

    • J.J. Lanzo says:

      Ever consider a revolt? We as tired of being pickpocketed, locked in a lifetime of robery owners need to rise up and raise holly hell until someone is willing to help us get justice, and our money back. I am damned tired of being robed by these bastard thieves. They know when they sell these things to people what they are doing, and what their intentions are. Nothing more than to steal every dime they can from you, and then go after your children and grandchildren to steal every dime from them as well. It is morally wrong to keep people on the hook in this manner, and I don’t care what all the soothsayer’s say. I am pi$$ed.

    • Dannye says:

      I have a cousin who has 2 time shares that her family used throughout the years. Both are paid off, and we have tried to practically give them away…no luck.

      • Wanda says:

        You can donate them if the loan is payed off. I still owe on mine so I donot have this option

        • Ron says:

          Well, you certainly can’t donate them if they are like most timeshares – worthless. You are missing the point of timeshares. They have no value. The idea is to defraud you during the sales pitch and then extort you with threats of ruining your credit ratings when you realize you have been defrauded and the maintenance fees are way more than the value of the timeshare.

          Don’t pay. Just walk away. That mantra you will see in this blog over and over – for literally YEARS now and maybe even a decade. That is the only advice which is helpful. There is no selling – no donating. They are scams. You have been scammed. The sooner you start to deal with it under that understanding, the sooner you can begin to get away from the criminals.

          I’m very sorry. Been through the same pain.

          • Robert says:

            Great points, this should be stickied to the top of this forum.

          • Robert says:

            Even if you want to use them they treat you like garbage. WasteGate was awful. I let mys sister use mine twice while I still paid for the maintenance fees, and you call a year ahead and they tell you it’s booked already so you have to pay $150 to switch to another property of theirs, and then another $150 to let them use it (and they will harass them and try to make them go to a presentation by implying that they have to) Then some places they will charge you for parking and they make you join Interval and pay those extra fees too. I have a feeling Wastegate owns Interval.

        • Robert says:

          You could donate them in theory, but no one wants them, like Ron says they are worthless. I would also try to dispute any amount that they write off and sand you an IRS form for because they are in fact worthless and can not be given away for free.

  18. May says:

    My husband and I bought a semi-time share. It is Lost Valley Lake Resort. We stayed there once. I had to stop paying due to husband slowly dying, which led to no money. They have been horrible everyday after we signed and I just want it gone. I am okay with them foreclosing and wonder if they will do it or how long it will take to happen? They said we bought a piece of land so I assume they will foreclose, but in past phone calls they said it wasn’t an option. They lie a lot though.

    I am getting collection notices from a very nasty agency and it just went up to the tune of last year and this years fees. Can they continue to add on fees for each year through this agency? The resort is no longer sending me bills, just the collection agency notice. I am getting one of those every 8 or so months. Do you think they will sue? Husband just died and this is yet one more thing to deal with as I try to mourn.

    • BaldSpot says:

      I had a timeshare. They would never let me make a reservation. “No Vacancy” even though I “owned” a week per year. I went to a lawyer who said I absolutely had to pay for the rest of my life. I decided I’d rather live on the street than pay the thieves any more.

      So I stopped paying. After a few years of getting a “Final Notice!” each month, I received a letter from a collection agency. I wrote back and told them the timeshare owes me a full refund since I could never stay there. Next letter from the the collection agency said they were authorized to offer me a cancellation of my ownership. The important thing here is that it stipulated I did not have to pay any fees, and there would be no hit on my credit. So I signed off on that and after a while, I received notice I was no longer an owner (of nothing). I believe I could have taken them to court and gotten all my money back, but I did not want to deal with it, especially after dealing with that loser lawyer.

      Please stop paying the thieves and get on with your life. I you get a collection agency letter, politely inform them you have not been able to use the time share and so you will no longer pay. Collection agencies are restricted on how they can harass you, so look up the laws for that and if they violate the law, report them. They can lose their license! Bless you.

      • Robert says:

        You did the right thing and you were lucky to be able to cancel. Trust me you would not have gotten a penny back from those thieves if you take them to court. I’m sure your contract was written so that if there is no availability when you want it you have to switch.

  19. Poyuan says:

    It is about my Grand Monarch Vacation points. I paid everything when I bought the points, but I had hardship to pay HOA two years ago. I did not know that my points was foreclosed, because I did not receive any mail. What should I do now? Is there anyway I can know whether it is been auctioned or not? Should I talk to them and see what ooptions I have. Can anyone help me on this issue? Thanks

    • BaldSpot says:

      Consider yourself fortunate. Do not contact the company, and do not pay them another cent. First of all, you do not need to own a timeshare. There are thousands of hotels and resorts to just make a reservation and go. The whole idea of a timeshare is stupid if you sit down and think about it. I paid over $25,000 to “own” 1 week of a bare bones hotel room per year, plus I had to pay $400 a year for “maintenance” on a room that they actually rented out to someone else during my week, and then I could never get a reservation. So after I bought the vacation, I never went on vacation for 20 years because I spent all my vacation money on a timeshare I could not stay at. How stupid is that! Meanwhile, my much smarter friend easily made cheap reservations at other luxurious hotels in the area every year and actually went on vacation.

  20. Adele says:

    Hi we bought a time share at west gate lakes Orlando in 2008 my husband was made redundant so could no longer pay my questions is since we have not paid a penny since 2010 will we be able to go back as I want to take my nieces

    Thanks adele

    • Robert says:

      Go Where? You can’t go back to Westgate until you pay what they say you owe them. You can go back to Orlando and any theme park, they have nothing to do with the clowns that run the timeshares.

      • Adele says:

        That’s what I meant sorry will I be allowed back into the states x

        • Melissa Feldman says:

          When I stopped paying for my timeshare in 2010, nothing hit my credit report, and certainly nothing affected my ability to travel out of the country.

  21. Pedro says:

    Hi, in first place thanks everybody for sharing your experiences, they are very helpful and give confidence.

    Last month I bought a timeshare (TS) in Vacation Village in Fort Lauderdale, after 7 hours they washed my brain. Now, after 16 days after after signing the contract I can not cancel my TS.

    I live in Argentina, and I would like to know if I do not make payments:

    Can I have problems with my credit score in Argentina?
    Can I have problems to go back to US?
    Can I go to jail?

    Thanks!
    Pedro

    • Pam says:

      Hi Pedro. I don’t know if it works the same, but I live in Canada and bought into a vacation share in Dominican Republic. I stopped paying almost a year and a half ago (loan and yearly fees). I had a lot of emails and phone calls (which I did not answer). I have not had any contact from anyone in the last six months. Royal Holiday or the collection agency. I have checked my credit reports and nothing shows up on them, so I think I am in the clear. I wonder if it makes a difference if the place you purchased the scam from is in a difference country from where you live. I have read posts from other people in Canada who had an out of country vacation share, and they have been the same as me. Stop paying (cancel credit card, stop payment on bank account, whatever you need to do) and ignore all emails and phone calls. They stopped for me and some others. I wish you luck.

      • Alan B says:

        Hi I have a timeshare in Florida but live in the UK.

        While I’m perfectly happy with what I have at present, I can foresee a time that I won’t be.

        Do you know if I could be prosecuted in the UK if I just decided to stop paying the fees ?

  22. Wendell says:

    Any advice about a Costa Rica (Bahia Turquesa) time share. Dont want to pay maintenance. Just got first notice. I live in Minnesota.

    • Pam says:

      Hi Wendell. I don’t know if it works the same, but I live in Canada and bought into a vacation share in Dominican Republic. I stopped paying almost a year and a half ago (loan and yearly fees). I had a lot of emails and phone calls (which I did not answer). I have not had any contact from anyone in the last six months. Royal Holiday or the collection agency. I have checked my credit reports and nothing shows up on them, so I think I am in the clear. I wonder if it makes a difference if the place you purchased the scam from is in a difference country from where you live. I have read posts from other people in Canada who had an out of country vacation share, and they have been the same as me. Stop paying (cancel credit card, stop payment on bank account, whatever you need to do) and ignore all emails and phone calls. They stopped for me and some others. I wish you luck.

  23. Henrietta says:

    Hi we bought a timeshare over 1999. Paid for four years then financially could not pay. We received letters and after 2 years started paying again. In 2006, we stopped paying and haven’t paid since. In May of 2013, it was remove from our credit report. Now, we our getting letters saying they are going to foreclosed. Can they do this after the debt has been over 7 years?

  24. Mo says:

    Does anyone know who I should write to About Wyndham
    Paradise Casino &Hotel(Nassau Bahamas.)?

    • Charla says:

      We owned a leasehold timeshare in Bahamas. I contacted an attorney in Freeport–Christopher something, I think. For $325 he prepared legal paperwork deeding it back to the resort. He said several others had done the same thing.

      • BaldSpot says:

        NEVER PAY ANYONE ANYTHING TO “GIVE BACK” THE PROPERTY!!!

        IF YOU REALLY REALLY BELIEVE you have to pay someone to give back the property, at least don’t pay until the paperwork is done and you know absolutely it is going to relieve you of all your woes. Otherwise, you will be ripped off again.

  25. Vickie Spires says:

    We purchased at Velas Vallarta in Mexico. We had paid in full, sadly. We stopped paying our maintenance fees a couple of years ago. We have now begun to receive letters from a collection agency in California. Should we respond at all, either to the collection agency or the resort advising we are not going to pay anything more, or just stay silent? We are prepared to just take the hit on the credit report.

    • Robert says:

      I would not respond and I would just let the statute of limitations run out on the maintenance fees until they offer you a deed in lieu,

    • Gary says:

      Vickie,

      I’m in the same boat with Velas Vallarta. I’m not paying and haven’t since 2009. I keep getting letters. I’m hoping because they are a Mexican resort nothing will happen.

    • Vickie Spires says:

      We are still getting letters from the collection agency. I have not responded to any of them.

      • Vickie Spires says:

        Gary I am sorry to hear you were scammed by them too. Are you getting collections letters? Have you been offered a deed in lieu?

        • Gary says:

          I’m not getting collection letters yet. Just bills for over due fees. I haven’t been offered a deed in lieu. I’m ignoring all communication they send me and will continue to.

  26. Shell says:

    I have a timeshare In orlando, fl but I live in kentucky. Will ky law affect me also? U had said that be glad you don’t live in ky. What does that mean?

  27. C says:

    Great website to help me out. I have looked into ways to get rid of this thing. I also realized that you could transfer it over to someone else like the person said about giving it away on craigslist. You have to get a lawyer to transfer it over and record it in the county of the resort. My question is …would there be any legal ramifications for hiring someone to take over the policy and not pay it, for example, giving a homeless person $ to sign it over to them and it ding their credit. Maybe that is a crazy question but is that illegal in any way?

    • bill says:

      some of the timeshare companies will not take your name off of the account until they have verified the buyer. I guess that still means you are responsible for ogoing fees regardless of the property title.

  28. Mo says:

    I purchased a timeshare at Summer Bay Resort in Orlando, FL 2 yrs. ago.
    Last year I became ill and I’m unable to travel or work. I have been unable
    to pay my timeshare this yr.(2014) I have contacted them and sent proof of my situation, but they keep insisting on my paying with what I don’t have. What should
    I do? Stop paying them? What are the ramifications?

    • Robert says:

      There are no ramifications. They don’t care about you or your circumstances. You don’t have money to throw away so don’t worry about it. They can’t get blood from a stone. Are you gonna borrow or get in extra debt to pay for a scam that is worthless? Just don’t worry and never send them another penny. Just don’t be scared, there is nothing they can do.

      • David h says:

        Robert- i received a condo lien in foreclosure. Everything was ok but they required that the value of the interest to be fill out by Wyndham . It is going throught there lawyer. They are paying me $500.00 to sign, notaries and mail back to them. The question is like someone in here had mention that the filling year they received a 1099 form for the amount that they had put for the value of the interest. My question is what are the values and how much can they tack on. I realize that they have to send the 1099 because the IRS require them to.

        • Robert says:

          I don’t know, but I would take it to your accountant, I believe someone here did and they were told not to worry about it.

    • Laurent says:

      From my experience with Sinkhole Bay Resorts LOL ; they will put you in collection in August and you will be harassed by the Collection Agency until the end of 2014. Then it will stop and they will contact you. Tell them the only thing you will agree is a deed-in-lieu free of any charge. They will eventually take the unit back. Don’t send them even a penny until then.

      They use a couple of Collection Agencies and one of them is very agressive ; they will call you 10-20 times a day for the rest of the year. What I would do is send them a phony phone number change . Not only to the Florida Headquarters but also the Condo Association in Arizona.

      Good luck , don’t worry and forget about them ! You’ll be fine

    • Maria says:

      Sorry to hear about that. Hope you fell better. The first thing you do is stop paying. If they call just stick with the same answer, every day is a different person don’t get stress, all they doing is they’re job and I do fell sorry for them too. Then you send a nice letter to Mr. Paul M. Caldwell, you can address it to Summer Bay, he will get it. Please explain your situation, he will understand. You will loose what you paid but he will take you out from this. He is the president. works for me
      Good luck

    • ju says:

      stop paying. Send a letter to the president Mr.Paul M. Caldwell and he will help you. explain your situation…good luck

  29. tyler says:

    Hi, my family just bought a timeshare at Eldorado Grandview resort in Las Vegas.. and I made the mistake of not doing my research on timeshare more thoroughly. Please help!! I owe them nearly 25 grand. They already took 3K in deposit. We do not live in the states, but I’m a medical student and will be rotating in the states and possibly work in the states at a later date. What if I don’t pay for my timeshare or the maintenance fees? what can they do to me? what if they sue me?? I signed blindly trusting them and didn’t read over my contract. They just told me to initial here and sign here.. because we were already there at the office the whole day!! and it was our las vegas trip. We stumbled upon them b/c they offered us cheaper tickets to shows if we go to this presentation. If they do decide to foreclose, do I have to pay for any lawyer fees like it says on my papers?

    • tyler says:

      btw.. i’m from canada.

    • ju says:

      how long ago you bought it? you have 10 days to cancel it

      • tyler says:

        i bought it for a month now… there was only 5 days to cancel it. I just called them and they told me they can’t do anything about it. I asked them if we can sign a quit claim deed and they said no. So they want me to write to them in writing stating my complaints.

        • Ju says:

          well you loose the money you gave, try to find the owner of these place and send a letter for this person. I did it, lost de money I gave down $1300 but the owner agree to cancel it and they will use that money I gave down for closing expensive. But be persist when they call you that you will not pay anything. How can you buy something like that in VEgas for that price? If staying in Vegas hotel is so cheap???? that is a big scam. Good lucky and please don’t send any payment.

          • Charla says:

            Same timeshare group in Vegas kept us there for 7 hrs. while I was very sick. Because of the long time, we got vouchers for free airline tickets to Hawaii and a week’s stay at the Wyndham there if we would sign. We signed then rescinded the next day after looking over all the paper work. Still got the free vacation. There is occasional justice with timeshare high-pressure sales people.

    • same boat says:

      Call you credit card company to dispute the charge if you just purchased. Your credit card company will fight for you.

      Good luck.

  30. Trisha says:

    I stopped making payments back in 2010. How do I find out the SOL for Ohio? I have received tons of letters and emails including some for the deed of leu thing. Plus notices that they are going to forclose. What should I do? Do I need to worry about anything? This TS crap is confusing and frustrating.

    • R says:

      The deed in lieu is a good thing. check that paperwork carefully, but that should get you out of the thing.

      I would also recommend checking your credit report. Go through the links at the Federal Trade Commission web site:
      http://www.ftc.gov/faq/consumer-protection/get-my-free-credit-report

      • Trisha says:

        What if I don’t do the deed of lieu?? Theyre asking for money in which I do not have

        • R says:

          Try signing the form and send it back with a note telling them that they won’t get any more money (but you are done with them). Either that or save up. How much money are they asking?

          • Trisha says:

            I honestly think it’s to late for that I received that prob over a year ago. How do I find out the statue of limitation for ohio is? I received one letter asking for $350 then another asking for almost $1000. So idk what’s going on. Multiple letters staying they were going to start the foreclosure procedure whatever that means

          • bill says:

            you do a google search for financial statue of limitations, and one or more results will be the times by state.

            you can pretty much ignore the multiple letters, since that is part of their normal collections procedure meant to scare you into paying them something.

          • Robert says:

            Question about Statute of limitations. If I didn’t pay in 2012 for my maintenance fees does it mean that’s the day or if they bill me the next year for new charges does the clock start again?

          • Trisha says:

            It says 15 years for the statue of limitation for ohio. Do they normally sue people for the money?? Will they just forclose on the property?? What normally happens in these cases??

          • bill says:

            the statute of limitations begins with your last payment. It does not matter what they do, just do not make another payment or agree that you owe them anything

          • bill says:

            I just checked the chart, and Ohio is 6 years across the board. They treat timeshares as written contracts.

            If you are past the statute and they sue you, you raise the statue as a defense and the suit is ended.

            Be glad you are not from Kentucky

  31. Bob says:

    Many people talk about deed. Do i have one? I looked over my package. In there i only found the contract and copy of my payment. Can someone educate me? Since i do not pay any penney to my members ship, i do not think they will give me a deed.
    What relationship between deed and for closure? Is forclosure good for me to be out fom the contact?

    -thanks

  32. BOB says:

    we got our TS a few months ago in Mexico. After we came back we found out that what the sale’s man told does not exist. We paid upfront $5000+ and still have lots balance to pay.
    I told that I am cancelling my membership and you need to give my deposit back since you did not tell me the truth. They said until I pay in full, my contract could be canceled otherwise they will send it to the collection agency.
    Please give me some suggestions. I know once they send it to the collection, it will affect my credit. In the future, can they put a lien on my mortgage?
    What should I do? Should I hire an attorney ? If I should, does anyone know a good attorney?
    your kindly help is appreciated!

    • Robert says:

      Just don’t pay, they are in Mexico, they can’t do anything here. You already lost $5k. They won’t cancel if you pay the whole thing either, but it would be stupid of you to pay one cent more. Don’t bother with a lawyer, they can’t do anything either but cost you money and tell you not to pay.

    • SJP says:

      Bob, in Mexico you don’t own any property. You probably will not get any of your money back, but look on the back of your contract and see if it says anything about sending a fee to get out of the contract. I think mine Velas Vallarta said sent the contract with $100 and they would take it back. But I didn’t do that I just told them they could have it back. I didn’t have that much invested in mine like you do with the 5000 deposit. I did’nt pay anymore maintenance fees to them. I received several letters and calls from the company in West Hollywood California saying they were going to turn over to collection but I ignored them. This Mexico time share did not show up on my credit report. Just the one I had in Orlando.

      • Bob says:

        Great thanks! I have had several sleepless nights by thinking this. It is too much stress. Do you think my credit card company can hep me to get the money back? I already paid to my credit card company. They asked me to fill up a form to dispute the charge and they will contact to the ts company. Any experience?
        Bob

  33. Jhnywang says:

    What is the process after a 1099-A? Will 1099-C follow, then a DIL? When I see something filed to the IRS, I get a little anxious.

    • SJP says:

      I too received a 1099A telling me the timeshare company filed the balance of the amt I owed them with the IRS stating as “balance of loan forgiven”. I received a deed in lieu from the timeshare company back in July after not paying anything else since 2009. I will be checking with my accountant and let you know..

      • Jhnywang says:

        I was looking through the form, and it says “For your records”. Does that mean we don’t need to file it? I’m gonna meet with my account and ask about this. I hope he doesn’t yell at me for not paying this debt.

        • Greg says:

          Did anyone ever find out what we are supposed to do with the 1099-A? I took my 1099-A to the H&R Block expert. Even he wasn’t sure what to do with it. It seems to me that the “forgiven debt” on the 1099-C is what we have to claim as income. I only received the 1099-A, which (I thought) has to do with a capital gain or capital loss on the sale.

          • Jhnywang says:

            I filed my 1099-A with my taxes. My accountant told me not to worry about since I did not profit from it and it was a loss.

    • BOB says:

      did you not pay for the rest of your membership or the maintenance fees?

  34. Mark says:

    My wife and I received our 1099-A forms from Wyndham. Do we have to file these with our taxes?

  35. Marissa says:

    I haven’t paid my time share from vacation village at Parkway in almost 3 years. Normal threats but nothing has been done. I had a lawyer look at it and because it is a deeded property, it will be treated like a foreclosure if they take action. They haven’t. The representative accidentally made mention that they have some accounts that are 5yrs old. They aren’t in a hurry. However, the maintenance fees are a separate thing, and they are determined. I recently took a hit on my credit for over 40 points for not paying it after a year. My fees are due every 3 years, and so I have that to look forward to in 2 years since the company won’t do anything about the deed. I’m ready for them to foreclose and be done with it.

    • SJP says:

      I too owned at vacation village at parkway. Stopped paying in 2009 after they said I owed 2 more years on it after I paid for 3 yrs as agreed. They reported it to the credit bureaus so after that I thought now you will never get another penny. I did receive a deed in lieu back in July 2013. But now I received a 1099 this month telling me they are reporting the unpaid balance to the IRS. I will be checking with my accountant as how to handle this. They claim their property value is much higher than it actually is. Ha ha We all know what you can get a timeshare for these days. But they will continue to try and rip people off. I doubt if they forclose. Probably let you suffer with their calls for so long and then send you a deed in lieu.

      • Robert says:

        You should ask your accountant if you can dispute the value of the 1099 since these properties are worthless and people don’t even want them for free after they are paid off.

        • SJP says:

          Thanks Robert, I will do that. Won’t hurt to let them know they are worthless, but big possibilty they already know or have been told. lol!! :)

          • SJP says:

            I just got off the phone with my accountant and yes we do have to file the 1099 with our taxes. What if I don’t? Tax evasion!! The **$#&*# timeshare people get you either way. But I am not done with them yet!

    • SJP says:

      I just got off the phone with my accountant and yes we do have to file the 1099 with our taxes. What if I don’t? Tax evasion!! The **$#&*# timeshare people get you either way. But I am not done with them yet!

      • Robert says:

        Is this on the principal or do they also send it for unpaid maintenance? Regardless we should form a class action lawsuit against each timeshare company for fraud. It’s fraud and theft just charging almost $1000 a week in maintenance for a place that would rent out for less that $4k a month.

        • SJP says:

          The 1099A said it was for principal on the loan amount. And the market fair value price was $6490. I found a Policy of Title Insurance in my paper work. Doesn’t that mean that the title insurance would pay the resort if I did not pay? Does anyone know about how title insurance works?

          • Barbara Young says:

            title insurance insures the owner/lender against defects to title. It has nothing to do with
            debt.

      • Jhnywang says:

        That’s what I’m afraid of. We are going to end up getting hit with taxes. For worthless property.

    • Deianna says:

      Same thing here Marissa…also for Vacation Villas at Parkway…extended to Williamsburg Plantation in Virginia. I refused to pay another cent, especially after they Quit Claimed 1 timeshare I purchased that was paid for, falsely set up a second time share and committed fraud by telling my hubby and I we were only switching over from weeks to points, only to find that we were actually buying into another timeshare. They finally got tired of non payment and sent us a Deed in Lieu of Foreclosure in which we happily signed. I encourage anyone that have a timeshare with VV to get out anyway you can. They are con artists to the end. They have you sign over 50 pages of contract, but you only receive maybe 7-8 sheets of signed documents. Later down the road, you will have quit claimed property that you owned or better yet, signed for another timeshare and didn’t know it.
      BLUF: Save money for your vacation! It will be less than what you spend messing with these folks.

  36. Sasha Collins says:

    In conclusion, what occurs if I discontinue paying my ownership? Your credit score will be seriously damaged, affecting your financial future.

    Timeshare resorts are like casinos: The house never loses, and they will certainly not allow you to stop doing your annual payments. The only possible way to get rid of your timeshare is by cancelling your contract.

    • Robert says:

      Another lie. What do you own when you buy a timeshare? a debt that is worthless and you can’t give it away for free and the TS company does not want it back. It will not ruin your credit in fact maybe a small blip and companies don’t even check that nonsense just your score. Don’t let them scare you. The only way is to not pay.

      And Timeshare companies do lose. In fact in Las Vegas the guy who owns Westgate lost a lot of his money and almost lost his company. What a fool he was to try to sell TS in a place where rooms are given away for free. watch The Queen of Versailles if you don’t believe.

      What will ruin your financial future is if you keep paying these fools.

      • sammy says:

        Hi Robert,
        Would you happen to know anything about BlueGreen Resort? I have a contract with them but cant make the payments and want out. I’m not quite sure what to do at this point…should I simply stop paying? Your advice is much appreciated!

    • bill says:

      lol — here come the timeshare cancellers — out to scam you again.

      the straightforward way to get rif of a timeshare is to stop paying. After the financial statute of limitations in your state, they can no longer require your payments, can’t sue you and can’t attack your credit score.

      75% of timeshares do not attack your credit score. If they do, it is one bad mark, no different than you would get for not paying your credit card or your phone bill.

      and you don’t pay these clowns – who must have nothing better to do than scam you

    • BaldSpot says:

      Don’t go blabbling junk unless you know what you are talking about.

      I stopped paying my timeshare several years ago. I’ve lost track now but I think it took two or three years of refusing to pay before they sent a collection agency after me. I wrote back to the collection agency and told them I was ripped off and the timeshare owes me a full refund because I could never get a reservation. Three months later, I signed papers permanently releasing me from all future obligations. I PAID NO FEES AND I GOT NO CREDIT HITS. Done.

      • Deianna says:

        Did the same thing. Mine went to collection also and I let them know that the TS owes me a deed. They were quick to hang up the phone. A week later, I received a deed in lieu of foreclosure and notice that the credit agencies will be notified that this debt has been resolved. My credit was dinged for about a month, but it is over! STAY AWAY FROM TIMESHARES! Save for your next vacation!

        • Frustrated says:

          Deianna,

          Can you please contact me about the letter that you used? My timeshare company went into bankruptcy. I could not get in touch with anyone for over a year. I left countless messages with every company/collection asking to get a return call in order to set up payments. Just received a letter that a new company owns the timeshare. I called them, but they said that I would have to bring the account fully current in order to stop the credit reporting. They will not accept monthly payments. The amount to bring current is well over $10K

          • Robert says:

            Don’t throw your money away. No blip on a credit report is worth $10K or more, plus they won’t remove it once it’s on. They are liars and thieves, just let it go.

      • LauraS says:

        BaldSpot, would you be kind enough to share a copy of your letter you have sent to the collection agency? I am currently experiencing the nightmare with Mexican Timeshare company the Real Club,

        I stopped paying to them since 06/2013. I sent them a Surrender Letter and they have sent the promissory note to the Canadian Collection agency after me since the start of 2014. So far, I got two letters already demanding payment over $5500. I have no intention of paying to them but I am really threatened as to what the collection agency might do next.

        If you could share that with someone like me, who is loosing her sleep over this and feels like it will get worth by just ignoring the collection agency. It will be so awesome.

        So does anyone know for sure, if you default in your payment, since they are the Mexican company and it is governed by the Mexican law, they cannot come after let’s say in my case, cannot come after me in Canada to demand payment?

        • Ju says:

          Hi Laura! I don’t think you should worry about this collection agency either, Just ignore them. If they call just be strong and tell them you are not paying a penny and they will have to call you for 7 years, it is 2555 times and they will spend more money than you loosing your credit for 7 years. I don’t know about Canada but in US that is the law, take 7 years to clear your credit if they claim they will report you to the credit report.
          Lets start to scam all these times share, lets start going to the meeting, get the free gift and don’t buy it… that will be fun everybody!!!!!

      • Frustrated says:

        Could you please, please send me a copy of this letter that you sent?

    • Ty says:

      This is word for word from Mexican Timeshare Solutions. Way to spam the comments.

  37. Kelsey Franz says:

    Cancel a timeshare: This is the best solution to get rid of a timeshare efficiently. When a timeshare is properly cancelled, the financial obligations attached to the resort will be gone: no more threatening calls, no more debt, and no more maintenance fees. It is important, however, to cancel your timeshare agreement through the right professionals in order to avoid being scammed.

    • bill says:

      lol — and we know just who will take your money and show no results

    • Robert says:

      You can’t cancel it unless it’s within a certain few days after you buy it. This cancel professional sounds like a new scam. Don’t cancel, just don’t pay and ignore their calls.

    • BaldSpot says:

      There are no professionals who will properly cancel your timeshare, liar. All businesses and lawyers who claim to be able to cancel or sell your timeshare will collect a fee up front and then watch football. They will put forth no effort to take your timeshare off your hands because they know the only way to get rid of one is to either sue the company for fraud or to just stop paying. The End.

  38. JP says:

    In 12/2010 I mistakenly purchased timeshare in Mexico while on vacation. Once I returned home (AL) I realize it was a mistake and never paid another dime. I have since gotten married and moved on with my life and now, 3 years later I get a call from a debt collector about this. I have not talked to them, just keep hanging up. Does the SOL apply? What can they do at this point? So far nothing has been put on my credit history. Thank you for any assistance.

    • bill says:

      the statute of limitations does apply. It starts when you made the last payment or told them that you were making a payment. I assume you know how many years it is for AL. Remember, the the SOL is a defense if they try to sue you, so if you get court papers, you need to claim it as a defense to end the suit

  39. scott says:

    I requested in a letter to westgate a few months back for a deed in lieu of forclosure,westgate has responded to me in a letter that my request for deed in lieu of forclosure has been respectfully denied. I will be sending a letter back stating to them their payment request has been respectfully denied.

  40. Paddywhack says:

    I have read all the excellent comments above but all are from members in the States. I live in the UK (Northern Ireland) and wonder if I stop paying maintenance fees will these parasites still come after me (I assume that they have agents in the UK). I now don’t care if they destroy my credit rating/score. My wife and I are now retired. I am an “owner” at CWR in Florida.

  41. grace says:

    We own a timeshare in Orlando (paid in full). We tried to give it back, but no luck. We’re tired of paying the resort maintenance fee. Since we don’t live in the U.S., what are the legal implications if we just stop paying? We’re retired and not really concerned about our credit rating anymore.- does anyone know if our pensions can be garnished?

    • Laurent says:

      I’m not a US citizen and I’ve stopped paying maintenance fees for 2 timeshares I own at the beginning of 2013 (Orlando ). Just before I contacted the Resort to inform them I had changed phone number . (phony ) , leaving only my cell number. I was put in collection later in 2013 . The Resort used 2 different Collection Agencies , each one for each different timeshare.

      One Agency was pretty soft . They called a few times, sent a few e-mails. Once I answered the e-mail with a language that doesn’t even exist putting the name of the Resort in between words. The guy wrote back saying he wasn’t able to find the translation on any software LOL ..They stopped calling !!

      The other Agency was a lot more agressive and I pat myself on the back for having made the phone number change. I must have received close to 1000 calls on my cell in 2013. My cell is off most of the time but when I turn it on, I see how many times they have called . some days it could be close to 20 times.

      Nothing they can do and they will eventually send me a deed-in-lieu at no charge and it’s gonna be over. It doesn’t affect you’re right to enter the US and the only thing they can do is sue you. The Resort said they would sue me . I told them to do it but warned them they were losing their time because I will NEVER paid them a penny anymore.

      I even told them that if they decide to sue me , they would have to do it according to the Laws of my country which allows me to defend myself in my own language if I require it. I doubt they will hire a Translator or hire a local lawyer for a couple of thousand Dollars , no way.

      Just a matter of patience and they will have no choice to take back the units. So, stop paying , don’t even bother about them and eventually you’ll be out of this.
      I used to own another timeshare and that’s how it ended ; they sent a deed-in-lieu at no-charge and took back the unit.

      • Robert says:

        Great post. We should be the ones suing them. Last time I used it for my sister I called 6 months before I needed it and they didn’t have anything available, so of course you have to spend a few $100 more to transfer to a different property nearby.

        Why are they charging almost $1000 a week in maintenance fees when it doesn’t even cost $50K a year to rent an apartment where they are. I wish someone started a class action suit against them and they lost everything.

        • juju says:

          yes Robert! why we all don’t get together and find a way to sue these fools?
          It is the biggest scam in USA. It is embarrassed to see something happen in our country.

      • Jo says:

        Hi Laurent! I am also a not US citizen and i bought a timeshare on april. I asked to cancel the contract 15 days after I signed it, but the said I could not. My financial situation change last month and i can affort it.

        The first payment is on June, and i really dont want this timeshare or anything to do with them. I remember that ask them before signing the contract if something happend and i couldnt pay, can i cancell it? and the say that of course but paying a fee. I dont want my money back (initial payment US1000) i just want to be done with them.

        I am worry that if i dont pay i get in trouble in my future (financially), i was planning to go back to US to work and study (loan), i dont want that timeshare mess up with my life. I will start a family pretty soon, they will depend on me.

      • Dar says:

        If you are not a US citizen can they affect your credit? We own ours in full but never use it anymore and tired paying maintenance fees and we can never get an exchange we want through II which charges close to another 200 US by the time we are done. We are in Canada. Thinking of not paying next year. Our company also keeps changing hands.

    • Be be says:

      Hi I have purchase a timeshare thinking @ hilton head coral resort they told me they will take my other timeshare that I have in Orlando. Because the maintenance fees is almost a $1000 a year. Turn out those fools put my timeshare for sale, and now they are sending me a bill for payment and maintenance fees. I have not pay them anything and don’t intent to. My order resort is taking their timeshare back but I have to pay $250 she say for prose sing which is better than a $1000. What do you think I should with other resort. I send them a letter asking them to cancell their contract no answer yet.

    • juju says:

      Just stop pay these fools! There is nothing they can do against you. Maybe they will not let you use it when you call for a reservation but its is cheaper to use a regular hotel then pay them maintenance fee.

    • Evelyn says:

      Grace, I had also paid mine in full and tried to give it back and no
      Luck! I stopped paying and I got collection
      Letters including a Court day to appear!
      At that moment I paid my late fees and all! Then I placed
      An ad on Craigslist giving it away! Found a
      Person who gladly took it and I had to find a lawyer
      In Virginia where d property was to do the paperwork
      Paid him $700 and I was done with timeshares forever !

      • David says:

        I don’t know if you are still here?
        The lawyer at wyhamn resort send me a condo deed in Lein of foreclosure after 9 years. They are offering us a $500.00 check after we signed, notarized, and signed by both of us. The things I have to ask you is the they want us to leave the VALUE amount blank blank that is for the resort to fill out. As I recall reading in this site they could fill in any amount and we have to fill out a tax form and somehow can we write it off? I wish I keep your email address, if you read this can you send answer to my email.

  42. William says:

    I own a unit at Lake Okanagan Resort in BC Canada and I was wondering if there is anyone
    out there that has stopped their maintenance payments and want happened?

  43. Kas says:

    Do not pay any money to anyone to help you get out. They are also scammers. Just like all the timeshare sharks

  44. juju says:

    I am so glad I found this site. They did fool me too.
    Has anyone contact lawyer or any company, that promise to help you? I contact this place canceltimeshare.com and they ask me $2295 to help me out. Another law firm name FinLaw asked $4600 to take this problem and so on. Have anyone invest money to anyone who promise to help you out?
    What I don’t undertand is all this people tell you that it will take about 4 to 6 months to take you out but they want the full payment before they start the process.
    Can you trust?????

    • Robert says:

      Don’t be a dummy again. You got fooled by the Timeshare shame on them. Next time you get fooled by these companies that are only trying to steal from you shame on you. There is nothing they can do for you. They don’t want to help you, They tell you 6 months so you can’t dispute the charge. I doubt they are real law firms anyway, and they can’t guarantee anything, all they have to do is say they tried and steal your money. Just stop paying for the worthless time share.

    • BaldSpot says:

      $2,295! $4,600! That’s outrageous! I paid only $500 to have my timeshare NOT sold.

      They tell you 4 to 6 months so they have time to get out of town with your money. I was released from my timeshare for FREE and it took one month. All I did was refuse to pay the maintenance fee for three years. Also, I did not pay any fees to give back the timeshare.

      However, ten years earlier, I paid someone $500 to sell my timeshare. Never heard back from them. They just sit in their office and laugh at all the fools who send them money for nothing.

      • Paddywhack says:

        I live in Northern Ireland and am an “owner” at CWR Florida. Just had my points cut from 63000 to 36500. Am going to try and get out of this. I just want to walk away from these parasites. Will do as you do, just not pay them and test the water. My wife and I are now retired and losing my crefit rating doesn’t really matter.

        Hope it works.

  45. sherry wolf says:

    What about timeshares in bermuda? Company is not us company? What happens if maintenance fee is not paid?

  46. fool says:

    Just got yet another yearly bill from Thunder Mountain, now it’s up to $3500 in maintenance fees. No deed in lieu of foreclosure yet, going on now 5 years of unpaid maintenance fees. Have a deed but I refuse to pay them another penny. How much longer before they make me an offer, I keep wondering!!!!

    • BaldSpot says:

      It really doesn’t matter how long. They think they can intimidate you, make you nervous, scare you when the money amount gets big enough. Just ignore them until they send you a notice it went to collections. Then tell the collections you are not going to pay for something you are not allowed to use and maybe they owe you a complete refund.

      • bill says:

        as long as you pay them nothing and do not acknowledge that you owe them anything, this is covered by the financial statue of limitations. Each state has its own timelines, but they cannot successfully sue you — if they try to sue you, your answer to the court is that the statue of limitations has run, so there can be no lawsuit.

  47. Scott says:

    I purchased from westgate lakes orlando in september.After there for what seemed to be eternity and mentally drained i signed like a fool.When i got back home from florida i decided to read over contract more carefully and said to myself what the hell was i thinking this is one of the dumbest things ive ever done. Decided to call to see what i could do to get out of it but just happened to be a few days past the 10 day grace period to cancel contract and they didnt want to do anything to help.They told me to get another loan at a lower interest.I have only made 1 payment to them besides me putting like $550.00 down. After reading all kinds of information on how to get out of it it seems selling it is a dead issue so i am going to decide to not pay them another penny.Anyones opinion on whether to get a lawyer or just let it ride?

    • Robert says:

      Let it ride, a lawyer can’t do anything for you, they have them too, just don’t pay. They are worthless, people who have paid them off years ago can’t give them away for free.

  48. Tommy says:

    I was wondering if anyone has had any luck getting rid of Bluegreen Resorts. I have paid off my mortgage long ago and have come to the point that I am going to stop paying Maintenance fees. I have had no luck in trying to talk to the company in regards of giving it back to them, which they said they would buy back during that big sales pitch if I am no longer able to use the timeshare. I am most worried about my credit score which is excellent but don’t want to ruin what it has taken me so long to build. Please if anyone has had any success give me a reply it will be appreciated.

    Regards,

    Tommy

  49. Amanda Blue says:

    When an owner decides to stop doing his payments, it is very likely that the resort sells the debt to a collection agency. The collection agency will go on your credit report and after that they will probably sue you.

    Collection agencies may report you to the IRS (Internal Revenue Service), which can make future financial investments incredibly difficult. Debt collectors can be extremely persistent when it comes to recover the money you own. They will try to reach you several times each day, collection tactics are very aggressive.

    BEWARE! Many timeshare resorts will not let you know that they sold your debt to a collection agency, but that doesn’t mean that your credit report will not be affected.

    • Robert says:

      I bet they have their own collection agencies. No foolish company will buy this worthless debt. No collection agency will sue you. When they call you can tell them to not call you and you can collect from them if they continue to harass you. Ignore this person they are trying to scare you.

    • bill says:

      this is not really true. You do not have a debt that can be sold to a collection agency. What they do is hire a collection company try to collect from you, but all they can do is threaten you. They cannot sue you and they cannot report you to the IRS.

      At some point, usually after the financial statute of limitations, the TS gives up and forecloses on our property, with whatever value they receive covering any outstanding debt.

    • BaldSpot says:

      Some collection agencies “buy” the debt, some just charge a fee to the time shire company. The agency that was after me was the kind that charged a fee to the timeshare. The agency that came after me 40 years ago was the kind that bought the debt for half price. Both kinds also charge a fee to you, the person owing the debt. There’s also a kit you can buy that contains a stack of letters and envelopes printed up to make you look like a collection agency. A stupid computer magazine used that on me when I requested a free (trial) copy and they billed me without sending the magazine. I received 12 nasty letters from them, spaced out over a year. Of course, I hate them forever and will never subscribe to them. Dumb. Anyway, when the collection agency contacted me, I wrote back and explained how I had been defrauded and never allowed to use the timeshare. The collection agency negotiated with the timeshare for me to get released from the contract. So don’t just shut the door in their face. They might help you.

      • Pluked says:

        I have been paying on Inn Season Resoerts/ Pollard Brook in one way or another since 1995. I won’t be done paying for three more years. I had been scammed into upgrades, etc. for a totle of over $70,000.00. Annual is up to about $900.00. The thing is since 1995 I have never been able to trade it. I stayed at the property twice. Other timeshare reps said to just stop paying. This year I did not pay the annual fee. Within three months it was on my credit report. I paid the fee along with the $289.00 monthly mortgage on it. I want out of this any ideas. I have worked too hard to have them ruin my credit score. Any ideas?

        • Robert says:

          There is no way out other than not to pay. You are paying for garbage. It’s a never ending debt. You worked too hard for your money to give it to those fools. they probably won’t remove it from your credit report and unless you plan to make a huge major purchase it should just be a meaningless blip on your report. As long as your score didn’t drop much you are fine, that’s all they care about, you are just a number now. Just never send them another penny. What’s better excellent credit and losing $10′s of thousands of dollars or decent credit and keeping your hard earned money?

        • BaldSpot says:

          So what if it was on your credit report? What costs more, to pay the timeshare, or to have a ding on your credit report? Maybe you should look up Dave Ramsey and see what he says about credit reports. Maybe you should consider getting out of debt completely and then your credit report will look pretty good. I quit paying my timeshare and it never showed up on my credit report. Plus I saved a lot of money every year forever.

          • bill says:

            we had more than 50 timeshare weeks. We stopped paying the all 7 years ago. We got a total of 20 dings on our credit, some of them duplicates, so some don’t ding you, and once you have 3, it doesn’t matter how many more you have. Also, these are removed after 7 years of no payment, so they are about ready to go away.

          • bill says:

            btw, after 7 years, we still get annual fees letters from a few of them, which we just file away since it is uncollectible. They can still call you, but they cannot do anything to collect.

    • bill says:

      the financial statute of limitations available in all states says that after a specified number of years, no-one can win a court judgement as long as you answer any suit with the statue of limitations as a defense. Also, no one is allowed to put anything on your redit report after seven years of no payments.

      But, you cannot pay anything to anyone or it starts the clock all over again. So, never ever pay anything to the timeshare or a collection agency or it all just starts again

      • Robert says:

        I agree, best not to pay them anything. I got a notice from Westgate for 2 years (I have an odd year timeshare) of unpaid maintenance. It was for less than what I was charged for maintenance, I won’t pay it, but I’m sure some people will be fooled to think that their maintenance payments have gone down if they don’t read the line that says “this may not be all you owe”.

  50. Ruby says:

    Just thankful to have found this website and knowing I’m not the only one going through this mess with Timeshare (Myrtle , SC).

    I too stop making payments back in 2010. I have been making payments 3yrs straight and every time I call to use my timeshare , I get the run around and along with exchanging it to a cruise. (Never got to use it!!)

    They can take my money but, they can’t accommodate me when it is time for me to wanna to use the damn thing!! And that is why stop making payments.

    They keep sending letters, about how they are trying to reach me but I just ignore it!!

    I also paid a company $700 to sell my Timeshare and that was a waste of my money. Ugh!!!

    I hope all Timeshares get sued and we all get our money back. ( wishful thinking :) )

    • Joanne says:

      This whole timeshare thing has left a bad taste in my mouth…I don’t even want to return to the State (Florida) where it resides…It’s like returning to the scene of the crime!!! Government officials in Florida have to realize that this is their problem also…and do something about it…These timeshare companies tell you that what you’re buying has value and to view it as an investment yet in the end they don’t even want them back!!! What kind of message does that send out??? Some investment! I believe it is their bad behaviour that has contributed to the present negative view of timeshares and that they are responsible for giving the timeshare industry a huge black eye… making it difficult for any of us to sell our timeshares. They are only interested in the initial cash grab and then they don’t give a damn…Because of this timeshares have become a proverbial hot potato and you can’t even give them away…not even to the company that sold you the thing!!! They’re so greedy because if they all were forced to have a resale department and at the very least give you half of what it was worth they could still sell it for full price and make something! The way things are right now nobody wins because so many people speak so badly about timeshares that no one wants anything to do with them…I’m not sure what state the timeshare industry is in now-a-days but it can’t be that good with so many people demonizing them!

      • BeBe says:

        I am so discussed with timeshare company. I have a timeshare that is paid in full with high maintenance fees went to presentation when I went on a weekend gate away with my husband. Those fools told us they could take our timeshare for theirs which have a lower maintenance fees. Lies they put our timeshare for sale. Now we suppose to be sending them money for their timeshare. What kind of fools do they take us for. It happens in July they told us we won’t have to pay maintenance fees until 2015. Just receive notice of maintenance fees due in January 2014. Wow

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