Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Mortgage
Profile Image

Question By
mykaiser1

0 Contributions
0 People Helped
Is there any hope for timeshare collection?
Was pressured into buying a timeshare. Have paid them over $12,00 in 5 years and used it one time. Either can't use when something is available, can't use but 1/2 of points, high red season not enough points. Never paid late, cannot sell. I am letting charge off. Other credit is near perfect. How bad is this going to hurt my scores?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
1 Contribution
0 People Helped

Timeshare taxes and fees

I too have a timeshare and own it outright.  I have not paid them any taxes or maintenance fees for about four years, but the balance they want is much higher than the total of these fees.  I asked them to take it back, Voluntary Deed Back, but they wanted $2000. I  Long story short, my husband died and I can no longer afford to use it or pay for the fees.  They harassed me for the last four years but nothing I said made any difference, so they had a collection agency put a negative report on my credit.  It went down almost 50 pts.  Still Excellent, but down just the same.  I don't think it's fair when they use it anyway, and they'll just resell it when they do get it back.  But I'll just have to wait it out for a few more years.  Statute of limitations runs out after 6 yrs in my state

1 Contribution
0 People Helped

Timeshare Foreclosure

I too am looking at the very same issue.  I don't want it to ruin my perfect credit, but just can't see continuing payment on something we can't use.  How much will it affect my credit score?   Looking for any advise.

1 Contribution
0 People Helped

I dont know, Im think8ng about the same thing, I well be much better position in the future without the extra money coming out my income..shhh I can barely keep up with the maintenance and taxes

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.