It would hurt your credit. A foreclosure for a timeshare is a real estate foreclosure, so it's pretty serious for your credit.
Timeshare is something you buy to enjoy. Most of us here paid full developer price once or twice.
So if you feel that you are alone, you sure aren't.
We overpaid for our timeshare 29 years ago, and we had immediate regrets, with very young children and a new mortgage, but we couldn't rescind back then because there were no rules in place to protect us.
It's too late for second thoughts, and I wish it wasn't too late for you. You need to enjoy what you bought and just pay it off, or you have to suffer the consequences of a bad credit rating for a long time.
No judgment here.