Defaulting on European timeshare in the US

[valleri]

Friends, I've had a timeshare purchased under Manx law for 20+ years. It is located in Spain. I am in the US. Annual fees skyrocketed and it no longer meets my needs. We all know it is impossible to sell (despite being a red week that trades phenomenally well with RCI). I have been advised that the foreign contract like this is unenforceable in the US, and no one is likely to come after me for it, as the resort will just resell the unit. There is no US connection whatsoever, as it is a stand-alone resort and not part of a multinational group or anything. Still, it makes me a bit nervous to just walk away and stop paying. Has anyone had experience with this, specifically, Americans defaulting on a foreign contract?

 

[Passepartout]

If there is a deed, you probably should at least offer to deed it back to the resort. If no deed, walk away.

 

[valleri]

Good point, thanks! Checked: Membership certificate only, no deed.

 

[goaliedave]

Some countries will put a warrant so be cateful never to go to Spain again or at least contact usa authorities to enquire

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[valleri]

USA authorities probably cannot advise on travel to Spain? But I wonder if Spanish immigration authorities would make someone inadmissible to Spain because of a fairly minor debt.

Some countries will put a warrant so be cateful never to go to Spain again or at least contact usa authorities to enquire

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[valleri]

I am not sure that USA authorities can advise on inadmissibility to Spain? And wouldn't a warrant have to be the result of a conviction? Hmmm, food for thought...

Some countries will put a warrant so be cateful never to go to Spain again or at least contact usa authorities to enquire

Sent from my SM-A505G using Tapatalk

 

[Passepartout]

Nobody is going to go to court and get a judgement over maintenance fees in arrears! Stop paying, and don't give it another thought!

Jim

 

[Grammarhero]

Don’t go to Spain. If you default, would you DM me on whether your credit got affected? As reported by tuggers, Stats are 3/16 with credit score decreases for MF default, and 3/5 for TS mortgage defaults.

 

[Grammarhero]

I am not sure that USA authorities can advise on inadmissibility to Spain? And wouldn't a warrant have to be the result of a conviction? Hmmm, food for thought...

We hope that you are well. If made the hard decision to default on your TS, would you kindly let us know if your credit got affected? It would help tuggers moving forward.