Call me the greatest dummy !

[SHIPDOC]

Bo't timeshares (one resort / 2 units) about 10 yrs ago [we were pushovers]. RSI & II too complicated & resort too far. Never used it & quit paying Maint Fee about 2 yrs ago. Had to change bank accounts to stop auto pay. Still get bills by snail mail. What's the "Worst Case" scenario? :-( :-(


I've concluded there are few [if any] honest outfits in this "industry".

 

[ronparise]

we see posts here on a regular basis, asking the question, "what happens if I just stop paying my maintenance fee"

It seems as if you have answered it; nothing

First of all you probably cant make a reservation at the resort,
I would have expected some effort at collections, but I guess not

Ultimately I guess foreclosure

My question is why didnt the resorts property owners association at least try to collect. Too many folks not paying have to push the fees for everyone else up. Too many defaults ought to spell the end for the resort

 

[JudyS]

Bo't timeshares (one resort / 2 units) about 10 yrs ago [we were pushovers]. RSI & II too complicated & resort too far. Never used it & quit paying Maint Fee about 2 yrs ago. Had to change bank accounts to stop auto pay. Still get bills by snail mail. What's the "Worst Case" scenario? :-( :-( ....

I'd be concerned about the resort putting me in collections and damaging my credit.

Have you called the resort and asked them if they will take the weeks back? (They will probably want you to pay the MFs that are in arrears first.)

Also, it is quite possible to get some great trades from II and RCI, depending on what weeks you own. It does take some time, but it you like to vacation, asking for advice here on how to trade might be well worth it.

 

[Tia]

,,,, quit paying Maint Fee about 2 yrs ago. Had to change bank accounts to stop auto pay. Still get bills by snail mail. What's the "Worst Case" scenario? :-( :-(


I've concluded there are few [if any] honest outfits in this "industry".

Have you checked your credit reports?

 

[theo]

Probably too soon...

Have you checked your credit reports?

Many facility HOA's won't actually initiate any foreclosure and / or associated negative credit reporting until after the 2 year time period which the OP cites as having failed to meet his / her particular obligations.
Meanwhile, accrued late fees and denial of access to the facility are really the only ill effect --- for now!

OP is not "off the hook", by any stretch, just because no anvil has actually yet fallen upon his / her head. Foreclosure and negative credit reporting are, sooner or later, virtually inevitable and certain.

 

[Passepartout]

I rather suspect we may have seen the first post and the last of the OP, as there aren't many here who see his tactic as having value.

Jim

 

[hunkyleebo]

Unfortunately, many buyers don't understand the committment they're making.

Lee