Original Message:
Re: Re: Can't make payment on my timeshare. What are the consequences? Please need some help. (by KC):
jessicam1068 wrote:I never put any money down except there 100. Can they sue me?
If you voluntarily signed a valid contract in the U.S., they could take legal action against you for “breach of contract” if you fail to meet the terms and obligations of that contract. However, the reality is that they will not do so — it is simply not worth the time, bother or the legal expense to file suit against you.
That being said, if you also signed loan / financing paperwork as part of a U.S. purchase contract, , they most likely will file a negative credit report against you for your failure to meet the loan payment terms that you previously agreed to under signature. Negative credit reporting action doesn’t really cost them much of anything and it could then remain a matter of record for 7 years.
You do not indicate the country in which this purchase took place. If it was in Mexico, just walk away right now and forget all about those parasites. They will certainly forget all about you as soon as they realize that you do not intend to send them another penny — and there will be no credit report consequences either. A U.S. contract and / or loan default is a different story however, as already described in preceding paragraphs. Defaulting on a loan in the U.S. most likely will have negative credit report consequences and any such negative credit report could then remain in place for 7 years (but with no further consequences and without you being "sued"). I hope this info helps to clarify matters a bit for you.