Stopping Timeshare Payments in Florida – What Happens?
A contributor to our site graciously has offered to share their experience with stopping annual timeshare payments for a resort in Florida. Please note – the timeshare is paid in full with maintenance fees reoccurring each year.
Be sure to check back as they update the story during the process – I’m anxious to see how it turns out!
Stopping Timeshare Payment in Florida:
I bought a timeshare at the Surfsider in Pompano Beach, FL back in 2001. I paid it off the first year. I have decided to stop paying my maintenance fees this year.
They now have 3-4 years of banked maintenance fees from me that I have not exchanged. What a deal! I will not continue to be a slave to this insanity. It is an insult to my intelligence. There are several people on this site that have done exactly what I plan to do and they received very little damage apparently to their credit rating. I own a business so believe me I am a bit nervous about my decision but I believe it needs to be done. I have children and I don’t want this willed to them if I die.
The whole timeshare industry needs to be shut down. It is all based on a scam. As far as I am concerned, if this goes to court, in the eyes of the law both parties need to have CLEAN hands. I don’t think the Timeshare Industry can claim that. I will update as to what happens to me in the future.
If we all do it what can they do? If anything if we all do this the Timeshare Industry will perish and they will no longer be able to pilfer our sons and daughters and our grandchildren. Enough is enough!
Someone posted this over on another part of this site and I wanted to share it here as I feel it is applicable. From What Happens if I Stop Paying my Timeshare?:
I encourage anyone out there who got scammed and lied to by a Florida resort to file a complaint with the State of Florida Attorney General’s Office. If your salesman lied and/or exaggerated the product, your complaint would be for misrepresentation. You can also send a complaint to the other agencies that I have listed below.
Office of the Attorney General Pam Bondi
State of Florida
PL-01, The Capital
Tallahassee, Florida 32399-1050
The official complaint form can be found under the Florida Attorney General’s website:
Once you are on the website, click on “SERVICES”. Then click on “CONSUMER PROTECTION”. Then click on “HOW TO FILE A COMPLAINT OR CHECK ON A BUSINESS”. Then click on “CONSUMER COMPLAINT FORM”.
The Florida Attorney General’s Office is concerned with all potentially unfair and deceptive trade practices that mislead consumers. By law, this office exercises statutory authority to address consumer fraud under Chapter 501, Part II, Florida Statutes, known as Florida’s Unfair and Deceptive Trade Practices Act. Our office focuses its enforcement efforts on business practices by companies which harm numerous consumers in more than one
judicial circuit. We use complaints to develop information about patterns of business activity which may indicate the need for formal investigation or action by our office to protect the broad public interest.
In addition, you may contact the following consumer agencies as you seek to resolve your individual complaint:
Federal Trade Commission
Toll-free: (877) 382-4357
Better Business Bureau of Southeast Florida (serving Miami, Ft.
Lauderdale, West Palm Beach areas)
Phone: (561) 842-1918
Broward County Consumer Protection
Phone: (954) 357-5350
Finally, Florida’s Deceptive and Unfair Trade Practices Act provides individuals with a private remedy to bring an action for damages, attorney’s fees and court costs. If you need legal advice, The Florida Bar offers a Lawyer Referral Service which you may contact toll-free at (800) 342-8060. If you cannot afford an attorney, you may be eligible for low cost or pro bono assistance through a local legal aid office. The Florida Bar can assist you with this process. The Bar’s website provides more information about legal aid:
Thank you for contacting Attorney General Bondi’s Office. I hope this issue can be resolved to your satisfaction.
Unfortunately, there’s a fool born every minute, and that is how they make their money. The only way to kill the industry is to make them illegal.