We received the following comment from one of our users:
“Help–I haven’t paid my maintenance fees or renewal fees since October. I cannot afford it anymore since my husband passed away…I spoke with a rep who stated it was international and would not affect my credit too much, my name would just be in the back of the newspaper. Then another rep said the complete opposite. The sad part is I didn’t owe too much more but now with late fees it adds up. Please help me find a reputable person to take this off my plate!”
As with any other timeshare contract that has passed its rescission period, you have three options that will not affect your credit score: sell, transfer, or donate. You can read more about each of those options here. If you are unable to sell, transfer, or donate your timeshare and do not keep up with maintenance or renewal fees, you are at risk of foreclosure. At this point you might try pursuing a deed-in-lieu of foreclosure, which will not affect your credit score as severely as a foreclosure would. It is ultimately up to Aruba law and the timeshare company if they will accept a deed-in-lieu of foreclosure.
An international timeshare situation will be a bit different than a timeshare in the U.S. because while most U.S. states have laws that strictly regulate timeshares, those laws to do not apply to a timeshare in a foreign country. Remember that there are likely different legal requirements for selling, transferring, or donating a timeshare in countries outside of the continental U.S as well. Be aware, however, that if your international timeshare is foreclosed on, it will still hurt your credit score. Consequences of foreclosure are the same regardless of where the property was located. If you find yourself stuck in this situation, it is best to contact an attorney who is familiar with the laws that govern timeshares in that particular country to avoid any miscommunication or legal troubles.