Compare Mortgage Quotes

Refinance Rates for Today

Please enable JavaScript for the best experience.

In the mean time, check out our refinance rates!

Company Loan Type APR Est. Pmt.

If I owe money on a timeshare and I choose not to pay for it anymore can they pull it out of my banking account?

Posted on: 12th Oct, 2009 02:56 pm
I owe silverleaf about 10,000 and they told me a lot of diffrent storys that were not true, so I decided not to pay for it anymore. Now i am wondering if they can pull it out my account or if the can hold my income taxes?
If you owe money to any lender or any credit card, they cnacome after your assests and savings after a judement.

They can also go after your savings and checkign account, inclduign wage garnishement
Posted on: 12th Oct, 2009 08:00 pm
Hi cn,

Timeshares are treated just like other real estate properties. If you stop making the payments, your timeshare can be foreclosed. If the foreclosure auction does not pay off the loan in full, you can be sued for the deficiency. In that case, they can come after your accounts and can also report the foreclosure to the IRS and the credit bureaus.
Posted on: 12th Oct, 2009 11:51 pm
Page loaded in 0.113 seconds.