Don't pay maintenance fee to get out of your timeshare??

[Elationismyship]

So we were at Parc Soliel in Orlando going through a presentation (stayed there for 3 nights as long as we did a presentation) and basically told them no we were not buying. When they asked why I told them we already own in a Las Vegas resort, don't want it any longer and can't find a way to even just give it away. We currently rent our unit each year to off set the maintenance fees (don't owe anything on it). The sale manager told us that the easy way to get out of it (if it's paid off) is to just not pay your maintenance fee. He said the resort will try to aggressively try to collect but if we don't pay eventually they will just take back over the timeshare as payment. I asked him about it ruining our credit and he said that it's (his words), not a contract with the maintenance fees and that this won't go against our credit.

He said that there are several scam agencies that basically do this, they take your "listing" fee, just don't pay the maintenance and the resort takes the timeshare units back over and they pocket the listing fee.

Never hear of this, his confidence made me think that maybe this is legit but knew I needed to turn to the experts on this board to tell me that he was full of c r a p.

Thoughts?

 

[Passepartout]

It's true that eventually, non payment of MF will result in foreclosure, but do you REALLY want to risk collection, lawsuit, credit ruination, etc. when you can easily offer your paid off, unused timeshare to a new owner for free on TUG's Bargain Deals forum?

You know better than to trust a salesweasel, don't you?

 

[PigsDad]

While it has been reported that some timeshares have not dinged a person's credit for non-payment of maintenance fees, they do have every right to do so -- the salesman you talked to doesn't know what he is talking about, IMO.

Kurt

 

[pedro47]

Was the salesperson lips moving, 99.9% Per Cent he/she are not telling the truth.

 

[theo]

Not intending any sales weasel support here, but there is actually more truth to what the sales weasel said than usually falls from the moving lips of his ilk.

If you substitute the word "listing" with the word "exit" in the OP's second paragraph, that is actually a reasonably accurate description of PCC and "exit company" practices. In either instance, foreclosure will indeed occur at some point if / when maintenance fees go unpaid --- despite any "upfront fees" unwisely ponied up to the PCC or "escape artist" operation.

That aside, Jim's observation in post #2 above is astute and correct --- why endure collections, stress and inevitable foreclosure at all, if / when a fully paid off (and fully paid up on fees) timeshare can simply (and cleanly) just be given away to a willing new legitimate "grantee" via TUG's "Bargain Deals" forum?
After all, if the interval can be routinely successfully rented out (as the OP has indicated), there is surely someone who will gladly take it off the OP's hands.