# Getting out of Monarch Grand Vacation Timeshare



## avpim (Feb 23, 2011)

Hello,

Does anyone know how Monarch Grand Vacations handles deliquent accounts? I have been paying my monthly payments and quarterly dues on time since I purchased the timeshare two years ago. However, I can no longer afford to pay for this timeshare. I am wondering if anyone has any experience with this situation particularly with Monarch. Do they forclose, sue, etc.?

V


----------



## timeos2 (Feb 23, 2011)

*Try a deed back*

Since you still owe on the purchase it is a virtual guarantee they will come after you for payment.  Eventually they will likely start a foreclosure process to get the week back but first they will sic the collections folk on you and do all they an through the credit reporting system to get you to pay up.  It will likely be two pronged as the fee's are separate from the purchase loan. 

You should approach them about the possibility of a deed back or other method to close this unfortunate choice you made and now regret. The less they have to go after you for payment the better. Hopefully you can work something out with them and avoid any big hits to your credit score. Remember they don't HAVE to make any concessions so be as nice as you can while making it clear there is no money to pay the bills.  Good luck.


----------



## Mistaken (Sep 4, 2013)

I just want to get out & not worried about my credit ratings anymore. Are there any other consequences of just walking away besides ruined credit?


----------



## pacodemountainside (Sep 4, 2013)

If they choose to get a formal legal Judgment then they can  lien your  house and car,   seize your bank account and garnishee your wages probably all at your expense.

Unfortunately not much here on what has actually happened.

Given  large  number of Developers,  amount owed and whether  mortgage/lien on property vs  just MF,  a lot of variables.


----------



## Passepartout (Sep 4, 2013)

Mistaken said:


> I just want to get out & not worried about my credit ratings anymore. Are there any other consequences of just walking away besides ruined credit?



Before doing that, you might at least list it in the Bargain Deals as a giveaway. Costs nothing to try that or to contact the resort Sales office or HOA about a deed-back in lieu of foreclosure. It's senseless to just shoot yourself in the foot over it.

Best wishes.

Jim


----------

