Thinking of not paying my maintenance fee

[JeffWinter]

After ten years my wife and I are thinking about calling it quits with our Westgate timeshare (worst use of our money in our marriage). I don't want to try and sell or give it away. I think I will just not pay the maintenance fee and let the timeshare go. Besides having a blow to our credit report what other ramifications would we experience by not paying our yearly fee?

 

[TUGBrian]

http://tug2.net/timeshare_advice/stop_paying_for_timeshare.html

westgate is usually at the bottom of the barrel when it comes to how they treat their owners...id certainly expect at the very least for it to show up on your credit report. (assuming there is no loan attached)

 

[bbodb1]

Jeff,

I'm no expert around here (not by a long shot) but why not at least try giving it away? If successful, you won't get any blow back on your credit history? Wouldn't that be worth something to you?

Here is an example of someone doing exactly this:
https://www.tugbbs.com/forums/index.php?threads/ruidoso-nm—-timeshare-for-free.278163/

 

[bogey21]

Bad move. Bite the bullet and give it away. A little bit of effort and you will avoid a lot of grief...

George

 

[taterhed]

Well....it only takes a simple search here to find the pages and pages of advice on this subject.

• credit hits
• possible judgment/court issue (unlikely)
• endless amounts of creditor and collections issues

much depends on what you owe currently.
Giving-away or paying someone to 'haul' the waste away may be cheaper and less painful in the long, long, long run that is bad credit

Suggest you read the many other posts .....I don't think Worldgate has any kind of deed-back or surrender program....others will comment

 

[Panina]

After ten years my wife and I are thinking about calling it quits with our Westgate timeshare (worst use of our money in our marriage). I don't want to try and sell or give it away. I think I will just not pay the maintenance fee and let the timeshare go. Besides having a blow to our credit report what other ramifications would we experience by not paying our yearly fee?

If you do not have a large loan I would suggest trying to give it away.

 

[JeffWinter]

After ten years my wife and I are thinking about calling it quits with our Westgate timeshare (worst use of our money in our marriage). I don't want to try and sell or give it away. I think I will just not pay the maintenance fee and let the timeshare go. Besides having a blow to our credit report what other ramifications would we experience by not paying our yearly fee?

That's good advice, try and give it away. We owe nothing on the timeshare. Maintenance and fees are $1,100 and only rising

 

[Panina]

That's good advice, try and give it away. We owe nothing on the timeshare. Maintenance and fees are $1,100 and only rising

Good to hear you are open to giving it away. Why ruin your credit rating and deal with the process of foreclosure.

The bargain section here on tug and the marketplace here on tug are great places to start to try to find a new home. I have had many successes giving away weeks I no longer can use. If after a few months, no takers, Redweek and ebay would be my next step.

I strongly suggest you offer to pay closing costs and include a free year of use where you pay the maintenance fee upfront. Incentives make it find a home faster.

 

[PigsDad]

Offer to give it away, pay all closing costs, and sweeten the pot by paying next year's maintenance fees if necessary. Doing all of that will still be cheaper in the long run than defaulting on the MFs, dealing with the collection calls, the hit to your credit score, etc.

Kurt

 

[theo]

No one seems to have mentioned that Westgate now has a deedback program.
My vague recollection is that the cost to utilize it is $950.

I don't think the OP (or anyone else) could give away most Wastegate timeshares, even for free, so ponying up for a deedback would seem to me to be the easiest, cleanest and quickest way to say goodbye to those parasites --- lawfully, expeditiously and permanently.
Just my personal opinion, fwiw.

 

[T-Dot-Traveller]

No one seems to have mentioned that Westgate now has a deedback program.
My vague recollection is that the cost to utilize it is $950.

I don't think that you could likely give away a Wastegate ownership even for free, so ponying up for the deedback ....... Just my opinion.

I agree & recall this ($950) as an option that is in prior posts on TUG .

IMO - {Westgate does have a fair number of fixed week contracts . SOME of those may be able to be given away . I am thinking a week 51 / 52 or Presidents Week in a 3 bedroom etc .}

Float Weeks :
I believe that Westgate limits ARP to 60 days on resale float week contracts .
If I wanted to get rid of one of those - the $950 is likely the best & perhaps cheapest / only - “good option “ - to avoid credit reporting issues .

 

[T-Dot-Traveller]

That's good advice, try and give it away. We owe nothing on the timeshare. Maintenance and fees are $1,100 and only rising

Found this on the Westgate Website

The Legacy program - to assist owners in understanding available options in transitioning away from vacation ownership.

800 351 0461 M-F 9am-5pm
Legacy@wgresorts.com

 

[breezez]

If they won’t take it back offer to give it away and pay next years MF.

You may find a taker, everybody likes a deal.

I would rather pay $1,100 than deal with the creditor onslaught for not paying and letting it go.

 

[b2bailey]

I made the decision to do this. Never saw a hit on my credit report. However, the phone calls from collectors continued for years. Apparently they 'package' delinquent accounts and then sell for pennies on the dollar. And then package and sell again and again.

 

[rickandcindy23]

I can tell you that the credit bureaus look differently at timeshare nonpayments. So if you risk it and don't pay your fees, you can just write a letter to whatever bureau and try to get it off of your record. Believe it or not, the credit bureaus are reasonable about timeshare debts. I don't know why, but they are.

BUT, I wouldn't do it myself. I would always give away my timeshares, because mine are not worthless. Some are, mine aren't.

 

[b2bailey]

Even though this was a fixed unit, fixed week, it was worthless. This was 5+ years ago. Strange part is they had a timeshare realtor onsite -- and still would not allow us a 'deed in lieu of' . Medical tragedy kept us from being able to do anything else.

 

[TravelTime]

I would never advise someone to default on a commitment. If it were me, I would give it away and try to make good on my commitment, assuming I were not completely bankrupt. You asked what other negatives there are to stopping to pay your fees. For me, integrity and responsibility and the negative way I would feel if I purposely defaulted mean a lot to me. I totally understand if you are broke and destitute, that is what bankruptcy laws are for.

 

[taterhed]

No one seems to have mentioned that Westgate now has a deedback program.
My vague recollection is that the cost to utilize it is $950.

I don't think the OP (or anyone else) could give away most Wastegate timeshares, even for free, so ponying up for a deedback would seem to me to be the easiest, cleanest and quickest way to say goodbye to those parasites --- lawfully, expeditiously and permanently.
Just my personal opinion, fwiw.

@JeffWinter

Thanks theo.... didn't know if Wastegate had a deedback program or not.

CLEARLY, a deedback would be the easiest, safest and quickest way to dispose of the timeshare; provided it's current on fees and paid-off.

Obviously, there may be some special ownerships (week 52 etc... ) that have some value for resale.

Good luck! Glad you got good (free) advice from TUG!!!!

 

[DrQ]

I would never advise someone to default on a commitment.

Great advice. A truly litigious operator could try to track you down in a "SLAP" lawsuit for interfering with their business.