Posted on: 11th Nov, 2011 02:59 pm
I own a timeshare in St. Maarten & have no financial obligations other than its maintenance & "special assessment" fees for future yrs. I have been unable to rent it or even GIVE IT AWAY (to a party willing to pay these fees). All I want to do is give it back to the resort but was told there is a $150 (approx) charge for that, which I refuse to pay. I was told it would then go to "forced foreclosure." Can my refusal to pay their fee really mess up my otherwise excellent credit rating ... especially considering this is in a FOREIGN country?
Hello MicheleS,
Yes, it will leave mark on your credit history making it harder for you to avail of future loans. In other words, lenders will have a lower trust on you.
:idea:
Yes, it will leave mark on your credit history making it harder for you to avail of future loans. In other words, lenders will have a lower trust on you.
:idea:
look into the resort timeshare swap, or selling of timeshares. There are new companies that will take over your timeshare. Worth a shot.
