Timeshare Debt: Can my credit score be affected?
All timeshare resorts need to have in order to send you to a debt collector and affect your credit rating is the info on your driver´s license. Learn how to protect your CC score from those manipulative debt recovery collectors.
There are companies that their job is to collect people´s data into a database. Debt collection companies use this to track people down and contact them requesting payments.
Do not underestimate the collection agency´s ability to find you. their resources are almost unlimited to track down a delinquent debtor. If your interest is to settle, It is best to contact the timeshare resort who sent you to collections on the first place and negotiate a settlement. Usually, the customer service from the timeshare resort will try and get you to pay the contract in full and keep the contract so they can keep billing you to pay a long lasting, ever increasing, maintenance fee. Timeshare resorts know that they have the upper hand when it comes to credit ratings and can affect you easily. Unfortunately, you are guilty until proven innocent and it can take a long time to reinstate your credit rating if affected.
If a collection agency gets a hold of your account, they will incluide special fees, interest and other expenses that are usually way more money than the original debt and can report you as past due. This report usually takes 30 days to appear on your credit report. It usually takes 7 years to wipe off a debt that was not paid on the Credit Report so make sure you cancel your timeshare contract in the appropiate manner.
The most common Collection agencies used by timeshare resorts are:
Summit Opportunities, LLC, Houston, TX Compañia de Renta o Re-venta: Resort Rentals, Continental Connections, Global Marketing Systems, Alliance Integrated Marketing Systems (AIMS), My Vacation Brokers, Imperial Property Management, Destinations International, Embassy Vacation Pro.
Pueblo Bonito, Royal Holiday, Nh Krystal, Hacienda del Mar:
Concord Servicing Corporation, Phoenix & Scottsdale, AZ, Blackwell Recovery Scottsdale, AZ
Resort Communications, Inc (RECO), San Diego CA; Textron Financial Corporation
Aspen National Collections, Brooksville, FL & Grand Junction, CO
If you feel you have been misrepresented into buying a fraudulent timeshare contract, contact us at Mexican Timeshare Solutions (MTS) for your free consultation on how you can get rid of your timeshare.
MTS does not charge any upfront fees. MTS is a results-based organization that works hard to protect and fight for consumer rights. MTS does not have any relationship with timeshare developers and excellent success rate in cancelling timeshare contracts and recovering timeshare owners’ money. Our experts work on a 100% contingency basis, meaning, if our Associates cannot cancel your timeshare contract successfully, you do not pay us a penny.
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