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What happens if I stop paying my timeshare?

What happens if I stop paying my timeshare?
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This is a question that pops up very frequently in several timeshare blogs and forums. Find out the consequences that may occur if you stop paying your timeshare

What happens if I stop paying my timeshare? Many timeshare owners could think on this as a last resort option, especially those who are desperate and tired of trying numerous solutions to get out of their timeshare unit, including selling it on internet, donation, renting it out, giving it away, among others.

Timeshare annual fees can be a big hassle for timeshare consumers, since they increase considerably each year, and with the economy as it is nowadays, not everyone is able to have their payments up to date, and sometimes, some of them take rush decisions that end up affecting their financial situation even more.


What happens if I stop paying my timeshare?

The consequences vary depending on the original timeshare contract. These are some of the things that could happen if you stop paying your timeshare:

- Foreclose:  Under the law, a timeshare ownership is treated like a real estate and therefore, your timeshare can foreclose if you stop doing your payments.  These payments do not jus include payments to the principal balance, but also the annual fees.

After a payment is first missed, the resort will give you a warning through numerous phone calls and emails. These calls can continue for months, and after a certain period without receiving any answer from the debtor, the timeshare company will start the foreclosure procedures on your timeshare.

Sometimes, after foreclosure, the resort can get a judgment against your possessions, or they can also garnish your wages, but this a long-annoying process to them, so they will try to avoid it. Foreclosure means that they have to take the timeshare back and pay for the paperwork that is done.

- Collection agency: This is probably the best answer to the question what happens if I stop paying my timeshare? When an owner decides to stop doing his payments, it is very likely that the resort sells the debt to a collection agency. The collection agency will go on your credit report and after that they will probably sue you.

Collection agencies may report you to the IRS (Internal Revenue Service), which can make future financial investments incredibly difficult.  Debt collectors can be extremely persistent when it comes to recover the money you own. They will try to reach you several times each day, collection tactics are very aggressive.

BEWARE! Many timeshare resorts will not let you know that they sold your debt to a collection agency, but that doesn’t mean that your credit report will not be affected.

So, if you were asking yourself, what happens if I stop paying my timeshare? Now you know some of the things that could happen, for that reason, we highly recommend that before taking any hasty decisions you should know the consequences of your actions.

stop paying timeshare

Don’t jeopardize your financial future

In conclusion, what occurs if I discontinue paying my ownership? Your credit score will be seriously damaged, affecting your financial future.

Timeshare resorts are like casinos: The house never loses, and they will certainly not allow you to stop doing your annual payments. The only possible way to get rid of your timeshare is by cancelling your contract.

When a timeshare contract is properly cancelled, you will not have any further strings attached to the timeshare company.  Mexican Timeshare Solutions is a company that works under a contingency basis and only collects their fee if the contract is cancelled. Otherwise, no fee is charged. Contact MTS for a free consultation on your matter and assure yourself and your family a debt free financial future.

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  • Oscar riveraMay 27, 2017, 7:04 pm

    Tengo un timeshare en Orlando Florida desde hace 10 años, y la verdad nunca lo he utilizado, actualmente estoy mal económicamente y no tengo para pagar, no se con quién acudir para cancelar y ya me están requiriendo el pago sino me mandan a Buró y esas cosas.

  • luis cornejo ahumadaJanuary 17, 2017, 8:44 am

    me pueden ayudar a encontrar una agencia que pueda tramitar el termino del contrato en orlando , florida ya que ahi firme y no puedo seguir cancelando, este contrato lo realice recién en noviembre pasado, gracias favor indicar donde me pueden ayudar

  • Rigo BertoldiAugust 1, 2016, 11:49 am

    Lo peor que pasa es que te meten al buro de credito , ademas una agencia de cobranza te esta molestando todo el tiempo , es muy frustrante quere cancelar el contrato y no te lo permita el hotel , yo no tendria problema en cancelarlo si no fuera porque todo lo que nos prometieron es una mentira , no hemos podido usar nuestra membresia porque nunca esta disponible! de que se trata esto ?

  • Andres May 16, 2016, 12:16 pm

    Un problema muy grande es que si no pagas te mandan al buro de credito , y es sumamente dificil evitar esto si ya no quieres tener un tiempo compartido , por eso mi consejo seria no dejar de pagar hasta conseguir la cancelacion , actualmente estoy en eso ya les contare si pude librarme .

  • Genaro gavicaApril 21, 2016, 5:48 pm

    Lo que nos paso a nosotros por no querer pagar las exageradas cuotas de royal holiday fue que nos mandaron a una agencia de cobranza y nos estaban cada rato cobre y cobre , lo peor de todo es que nos metieron al buro de credito , cosas que no venian en el contrato , actualmente despues de casi ya 10 años finalmente estamos arreglando esa situacion y estamos luchando por la cancelacion de la membresia, cosa que el resort no otorga facilmente.

  • JULFIRE555Marzo 17, 2016, 5:19 pm

    they start to pressure you with your credit score and stuff like that , for own experience the best that you can do is the cancellation, collection debt agencies are such annoying.

  • Carlos Angulo February 13, 2016, 11:29 am

    Tengo un tiempo compartido con mi ex pareja y me gustaría cancelarlo

  • Juan Pedro Torres CaballeroDecember 3, 2015, 10:53 am

    Quisiera saber si puedo cancelar mi tiempo compartido con El Cid Vacations Club de Cancún, lo vengo pagando desde el 2013, y nunca he hecho uso de el. No me importa que me devuelvan el dinero, solo quiero cancelarlo.

  • Laura PaezAugust 24, 2015, 1:53 am

    En mi caso fue una total pesadilla, me demandaron totalmente , lo que no sabia es que en el contrato que firme decian clausulas que la verdad no entendi bien y se me hizo facil firmar sin investigar bien , la consecuencias fueron caras, ahora estoy en proceso de cancelacion con mi timeshare, espero desacerme de el y les compartire mi experiencia despues de haberlo hecho.

  • Brenda Adams.June 15, 2015, 12:49 am

    Is very sad , but timeshare people are very tricky , when you signed the contract , exist many factors that you can understand at all , but by the way you are in .. at my own experience , timeshare field is a very dangerous place to stay , so pls is better to get out there and never get near.

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