Post reply

Re: Re: TRYING TO GET OUT OF MEXICO TIMESHARE (by KC):

christineu18 wrote:

I’m in the same boat. I stopped paying 3 months ago and I’ve been getting emails that if I miss 1 more payment, they would turn it into collections and will likely ruin my credit. I paid $7,000 already but I still owe $7,000. I stopped paying because it was presented as an “investment” at the time we signed, which I know now there’s no such a thing. I haven’t used the resort at all and have not gotten any penny back. I’m contemplating if I should just keep paying my monthly payments for 3 more years to avoid ruining my credit or just stop the bleeding.

Anyone here actually stopped paying? Did it really ruin your credit? Or is it all scare tactics?

Your post does not overtly indicate whether this purchase was in the U.S. or in Mexico. If it was in Mexico, rest assured that they are not going to do anything thing beyond gratefully keeping your $7k deposit and then ultimately forgetting all about you. Their email threats are toothless and meaningless. They have absolutely no collection leverage here in the U.S., unless there is also a physical business presence of that same developer here in the U.S. --- which is highly unlikely --- and they have no leverage (or any intentions) to try to affect your credit rating in the U.S. (or Canada), despite any empty threats indicating otherwise.

I have never heard of anyone ever enduring any negative consequences from just walking away from a Mexican RTU (right to use) contract (which is really nothing more than a overpriced membership --- you actually own NOTHING). The $7k you paid already is gone forever, but that's no reason to voluntarily lose another $7k by sending it off to those deceitful parasites. In my opinion, that would just be a waste of (more) money, unless it is your intention to ever use that RTU contract in the future.