# Mt Amanzi



## LMD (Jan 20, 2014)

Since the resort won't take back the 2 weeks I own and no longer want and has offered me no suggestions, I have decided to just not pay anymore. This is the latest e-mail.... My question..being out of the country can they do any damage to my credit if I choose to ignore?



Please note that monthly interest, as well as late payment penalties of 25% of the outstanding balance will be charged from 31 January 2014 (Re:  clauses 3.2.7 & 3.2.7.1 of the Use Agreement).

Please take note that the Company will enforce its rights in terms of the Use Agreement on 01 April 2014, if full settlement of your outstanding balance is not received before mentioned date.

The implications thereof will be that you will forfeit all privileges and right of use pertaining to your timeshare and ultimately you will no longer remain a shareholder of the Company.

You will still be liable for any outstanding amount on your account.


We regret having to take these steps, but we owe it to our shareholders who promptly settle their accounts.

If you have already paid your 2014 fee and the payment does not reflect on your account, please e-mail your proof of payment to levies@mountamanzi.co.za or fax to 27 12 381 5699.

Your urgent attention in this regard will be highly appreciated.


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## MuranoJo (Jan 20, 2014)

Can't answer your question regarding if they do damage to your credit since you're out of the country.  Those who own in other foreign countries often have the same question, and I've yet to see anyone post evidence one way or the other.  

Have you already tried selling for a minimal price on Bidorbuy?  Or perhaps tracking down a SA broker to see if they'd be willing to move it?  Unfortunately, if you're behind on your fees, you'll probably have trouble selling or giving away unless you bring the account up to date.


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## PaulT (Jan 26, 2014)

muranojo said:


> Can't answer your question regarding if they do damage to your credit since you're out of the country. Those who own in other foreign countries often have the same question, and I've yet to see anyone post evidence one way or the other.
> 
> Have you already tried selling for a minimal price on Bidorbuy? Or perhaps tracking down a SA broker to see if they'd be willing to move it? Unfortunately, if you're behind on your fees, you'll probably have trouble selling or giving away unless you bring the account up to date.


 
I stopped paying my MF's at Dik many years ago and they just took the weeks back. This is really their only recourse.

There were no negative impacts on my credit rating. I doubt seriously if SA timeshares even have the capability to access the 3 major credit reporting agencies in the US.


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## MuranoJo (Jan 27, 2014)

PaulT said:


> I stopped paying my MF's at Dik many years ago and they just took the weeks back. This is really their only recourse.
> 
> There were no negative impacts on my credit rating. I doubt seriously if SA timeshares even have the capability to access the 3 major credit reporting agencies in the US.



Did they contact you for any paperwork to transfer out of your name?

Not sure if they can access the credit reporting agencies, but I would guess it wouldn't be worth it to them to pursue.  At least here we have an example where someone did not get a credit hit for walking away.


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## PaulT (Jan 28, 2014)

muranojo said:


> Did they contact you for any paperwork to transfer out of your name?
> 
> Not sure if they can access the credit reporting agencies, but I would guess it wouldn't be worth it to them to pursue. At least here we have an example where someone did not get a credit hit for walking away.


 
No, there was no paperwork involved at all. They contacted me once by email (nothing by mail) stating that if I did not bring my account current they would "foreclose"/take the week back from me. That was the last I heard from them. The process was completely painless and smooth and much easier than actually dealing with shareholder services.


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