Implications of Not Paying Maintenance Fees

[MisaccTss]

I am Canadian and own a timeshare in the US. We bought it over ten years ago and never used it (long story), and we've paid our fees every year. I've tried to give back the time share, no luck there, tried to sell it for free--again no luck. What are all the possible implications of not paying our maintenance fees?

 

[rickandcindy23]

I don't know what you own, but that was quite an impulsive purchase, something you have not even used?

I would stop paying MF's, definitely, but what is it that you own? Maybe there is some worth to it.

 

[goaliedave]

I don't know what you own, but that was quite an impulsive purchase, something you have not even used?

I would stop paying MF's, definitely, but what is it that you own? Maybe there is some worth to it.

You might be surprised that 80% of ts owners that approach redweek to sell have never used them. I posted the article on a different thread.

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[goaliedave]

I am Canadian and own a timeshare in the US. We bought it over ten years ago and never used it (long story), and we've paid our fees every year. I've tried to give back the time share, no luck there, tried to sell it for free--again no luck. What are all the possible implications of not paying our maintenance fees?

They'll call and write letters for a while then give up. Sometimes they'll report it to the credit bureaux so you'll take a 50 point hit.

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[Grammarhero]

Out of 8 defaults as reported by Canadian tuggers, none got reported to the credit agencies. Good luck!

If you decide to default, please PM me as to whether your credit got affected. It will help tuggers moving forward.

 

[Mongoose]

I am Canadian and own a timeshare in the US. We bought it over ten years ago and never used it (long story), and we've paid our fees every year. I've tried to give back the time share, no luck there, tried to sell it for free--again no luck. What are all the possible implications of not paying our maintenance fees?

Which timeshare?

 

[TheTimeTraveler]

I am Canadian and own a timeshare in the US. We bought it over ten years ago and never used it (long story), and we've paid our fees every year. I've tried to give back the time share, no luck there, tried to sell it for free--again no luck. What are all the possible implications of not paying our maintenance fees?

Is this the Massanutten week that you first discussed two years ago on TUG ?

Have you contacted the Resort itself to see if they will allow a Deed Back for a quick and easy out?




.

 

[Mongoose]

Why not rent it out and recoup your MF's?

 

[rickandcindy23]

Why not rent it out and recoup your MF's?

Most timeshares are not rentable for even MF's.

 

[chapjim]

Most timeshares are not rentable for even MF's.

Your statement is a bit too categorical. Most timeshares CAN be rented. Whether the rental covers or only contributes to maintenance fees is a different matter.

 

[Grammarhero]

I am Canadian and own a timeshare in the US. We bought it over ten years ago and never used it (long story), and we've paid our fees every year. I've tried to give back the time share, no luck there, tried to sell it for free--again no luck. What are all the possible implications of not paying our maintenance fees?

@MisaccTss
We hope you are well. If you made the hard decision to default on your timeshare, would you kindly let us know if your credit got affected? It would help other tuggers in similar situations.

 

[mbh]

I am Canadian and own a timeshare in the US. We bought it over ten years ago and never used it (long story), and we've paid our fees every year. I've tried to give back the time share, no luck there, tried to sell it for free--again no luck. What are all the possible implications of not paying our maintenance fees?

One of the implications is that the other owners have to make up for your fees not being paid.

 

[rickandcindy23]

Your statement is a bit too categorical. Most timeshares CAN be rented. Whether the rental covers or only contributes to maintenance fees is a different matter.

Yes, I know that. It depends where they are and the fees. If this is a point system, like Wyndham, you will be lucky to get fees.