@BerthaA We hope you are well and healthy. If you made the hard decision to default, mind sharing if your credit score got affected? It would help tuggers in similar situations moving forward.
I wanted to get out of my Raintree Vacation Club timeshare due to its outrageously increasing fees and our growing unhappiness with the property. I have tried selling it for peanuts--foolishly paying money to do it--with no success. When I tried to give the thing back to the resort, they refused. Then in 2020, I was duped into "upgrading" my account into a new kind of membership that included the promise that after two "skip years", where I was allowed to skip paying maintenance fees, I could end my relationship with Raintree Vacation Club. Dummy that I was, I accepted a verbal promise. Well, the two years are up, and now they're telling me I'm stuck with this financial albatross until 2030. These people are liars and cheats.
I then called Equifax and grilled them about what would happen if I stopped paying these ever-increasing timeshare fees. Here is what they said:
* Equifax does not report the non-payment of timeshare fees on one's credit report.
* If the timeshare debt is sold to a U.S. collections agency, it will report it.
* But if the collections ageny reports the debt as unpaid timeshare fees, Equifax will not report it on one's credit.
Thus the question seems to center on how RVC deals with the U.S. collections agencies. Does RVC actually sell the debt? Will a collections agency risk buying the debt knowing that it's for a timeshare and that the only leverage they have over their victims is to ding their credit? Elsewhere, I read that RVC uses three different collections agencies. If that is true, then how could RVC be selling the debt?
