Tips to REBUILD your CREDIT After Purchase a Timeshare

Schedule your FREE Consultation to CANCEL your Timeshare HERE

Did your timeshare purchase affect your credit score? Now is the time to start rebuilding your credit. It will be hard at the start, but it won’t be impossible.

Learn easy tips to rebuild your credit after purchasing a timeshare.

A lot of timeshare purchasers don’t take the time to carefully read their timeshare contract because they are on vacation.

Some others think that a timeshare contract signed in Mexico won’t have repercussions on their credit score in their home country if they default on the payments.

We talk about what happens when you stop making payments at:

What happens if I stop paying my timeshare?

Protecting Your Credit Score against timeshare debt collectors

Many timeshare companies have offices in the US that allow them to collect on loans internationally.

Others sell their debts to timeshare collection agencies that are in charge of making sure that the loans are paid.

The timeshare collection agencies can be very persistent in their attempts to recover the money, and many timeshare owners pay their debts in order to keep their credit score intact, but some others don’t have the ability to pay off their debts, leaving their credit unprotected.

How Can my Credit be Affected by a Timeshare?

The tricky part of timeshare ownership is that you have the responsibilities of a full-time homeowner, even you only have fractional ownership.

So, if, for whatever reason, you can no longer pay your dues, special assessments, maintenance fees, taxes, etc. this can obviously hurt your credit as well as affect your ability to use your credit for other purchases.

Bad credit can happen to good people. But don’t feel hopeless; there are ways you can get your credit rating back in shape; you just have to start working on it.

Tips to Rebuild Your Credit After Purchasing a Timeshare

It will take some time for you to get your credit clean, but with patience, you will likely be able to build a new credit history.

If you were already sent to collections because you stopped paying for your timeshare, we will show you a few tips that you can use to rebuild your credit after purchasing a timeshare:

Get a New Credit

The first step is getting a credit card. Being able to repay a variety of new accounts is a key step in rebuilding your credit after a timeshare debt.

Start Small

Be careful when you open a new credit card. If you put in too many credit applications, it will affect your credit score, making it harder to clean your credit report. A department store credit card can be useful.

Pay your Bills on Time

Paying your bills on time is the most important contributor to a good credit score. If one of your accounts lands in the hands of a debt collector, it goes on your credit report, ruining the progress you have made. 

Check your Credit

Be sure to take a few minutes every month to review your credit scores, check your progress and set your goals for the coming month.

Protect your Existing Credit

Don’t close accounts expecting to raise your credit score. The age of your accounts can help. If you have revolving balances, stop using those cards until you pay off your debt.

 Apply for New Credits

Eventually, you may consider getting a new card after you have repaired your credit a little bit.

These are just a few tips you may follow in order to rebuild your credit after purchasing a timeshare.

Avoid Being Taken to Collections

Even if you are a true victim of a timeshare scam in Mexico, the timeshare company can take you to a timeshare collection agency if you stop making payments.

To avoid being taken to collections and damaging your credit score, it is important that you cancel your timeshare contract before you stop to making payments.

At Mexican Timeshare Solutions, we do not charge anything upfront, and our associates are qualified to solve cases of timeshare scams.

Contact us and get a free consultation on your timeshare matter and full advise on how you can get rid of your timeshare debt.

To receive more information about how to rebuild your credit score after purchasing a timeshare, send a WhatsApp to +52 1 333 239 6589, fill out the form in the contact section, or call us at +1 714 277 3662.

Information to share

If you liked this article, please help us to share this information to more people in order to avoid more timeshare scams victims, how?

  • Followus on Facebook
  • Share this link on your favorite blogs and forums

Leave your comment below and share your opinion with us. To know more about this situation, go to:

Credit Card Disputes- Helpful In Recovering Money From Timeshare Fraud?

Timeshare Debt: Can my credit score be affected if the resort does not have my SSN?

9 comments Write a comment
Share your timeshare experience.

Your e-mail and phone number will not be public.

Should Mexican Timeshare solutions help you today?Our work is based on a Contingency Basis: NO RESULTS, NO PAY.Get a FREE consultationSend us a message +1 888-275-35-9510:00 am - 6:00 pm Central Time