What's the Real Effect of Not Paying Time Share Maintenance Fees?
December 31, 2013 3:07 PM Subscribe
Let's say that I own a timeshare that I cannot sell or give away or rent. Let's read as given I am stuck with this thing for 7 years AND every year there are "maintenance fees" and "annual charges" and all sorts of things costing me up to $6000 a year. Let's just imagine this is the situation and I can't pay them anymore.
posted by anonymous to Work & Money (10 answers total) 4 users marked this as a favorite
People who understand how credit really works, please help me understand the ramifications of what exactly would happen if I just stopped paying and changed my phone number?
I am not making any purchases any time in the next 20 years that will require a credit score.
I've read that for most lenders (and for the record I am NOT looking for a loan for at least 20 years if ever) will look at a timeshare black mark with a grain of salt. True?
Again, I am NOT looking for a way to get rid of this thing. I can't donate it. I can't give it away. I've tried selling and renting it for over a year. I've done all of those things and NOTHING. I just can't pay these fees anymore.