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 Credit Scores
Profile Image

Question By
luann1956

0 Contributions
0 People Helped
timeshare maintenance fees
I have stopped paying maintenance fees for a deeded timeshare, have been sent to collections...how bad will this affect my credit score? It has not shown up on my credit report yet.

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

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1129 Contributions
357 People Helped

The higher you're credit score is, the more it will affect you. You could potentially have a 100 point drop.

Have you approached your timeshare about possibly quit claiming your deed over to them?   I used to rent my timeshare online through a couple websites to help pay the yearly maintenance fees. Then I got lucky when a group of investors were purchasing blocks of timeshares. I had to pay them to get rid of it. It amounted to two years worth of maintenance fees. Also maintenance fees and HOA fees are not tax deductible.

I wish you luck. I wish I had never purchased the timeshare, and I discourage everyone from buying one.

Result 1-1 of 1Results 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.