Can I just stop paying my timeshare?

If you stop paying on your timeshare loan, you face foreclosure. Foreclosure is the process whereby the lender files to take possession of the property and sell it at auction to recover the money you owe. Your contract authorizes the trustee to sell the timeshare in the event you stop paying on it.

Can you give back a timeshare?

Give it back: Contact the developer or resort management. Tell them you want to quit-deed the property back to them. In other words, you are willing to give away your timeshare in exchange for the future savings of not having to pay your membership.

What happens if I can no longer afford my timeshare?

If you cannot come to a similar arrangement with your timeshare provider, and you are not in financial difficulties, it is your responsibility to sell your timeshare. Until you can find a buyer, you are legally required to continue to pay your annual maintenance fees. I CAN NO LONGER AFFORD MY TIMESHARE. WHAT ARE MY RIGHTS?

How long do you have to pay timeshare maintenance?

It’s not pretty. You may be thinking that your timeshare resort doesn’t care enough about you to come after you in court for your maintenance fees, but stop and think for a second how much your maintenance fees are worth to them. The average timeshare owner pays maintenance fees for about 30 – 40 years.

Is it better to donate a timeshare or sell it?

A timeshare can sit on the market for a very long time and may not sell at all. By donating timeshare, you are able to get out of your timeshare easily, devoid of the stresses, fees, and time consumed that go along with the selling process. The donation process is by far, much simpler and faster than timeshare resale.

Can a timeshare company Ding your credit score?

If you don’t stay current on your maintenance fees or your loan payment, the timeshare company or timeshare association could report you to a collection agency and ding your credit score.