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Re: What happens if you just stop PAYING? (by R P.):

ken1193 wrote:

With all due respect Joe, I believe that you have already received exactly such input spelled out for you in some detail. Have you actually read through all of the posts? In short summary (offered as my FINAL input to this particular thread):

1. You haven't indicated in either post if you have contacted the resort directly (in writing) to formally inquire if you can negotiate a "deedback". Probably not, but have you even asked or tried?

2. Absent resolution of the matter via item 1, the matter of your unpaid fees will ultimately be turned over to collections, probably to a third party collection agency.

3. If collection efforts yield no payment results or acceptable arrangements for same, you will simply be foreclosed upon. That foreclosure will, in all likelihood, ultimately appear as a less than stellar entry on your credit rating / report. Those effecting the actual foreclosure will see to that, as the foreclosure process involves expenditure of time, effort and incurring legal expenses by the resort.

There is not much more to it than that (assuming that there is no unpaid loan involved). You have a contractual obligation from which you cannot just unilaterally stroll away without enduring the legal consequences. Whether or not you see those inevitable legal consequences as ominous or daunting or troublesome to you is a matter for your own introspection. In any case, I wish you well.

Ken's steps above are 100% on the mark. When we were ready to sell our developer bought timeshare, we also contacted the resale department of our resort. They quoted the same price that we paid and we signed a contract with them to sell it.

Needless to say, they weren't interested in reselling our week, and, as far as I know, never even tried. The resort was in active developer sales and still is and that's their first concern, not resales. I'm almost certain Vistana is the same way.

I ended up selling all 9 of my timeshares myself over internet timeshare ad sites such as Redweek and others. I eventually sold them all.

Have you tried perusing Redweek and all timeshare ad sites such as Tug classified ads, MyResortNetwork, Bidshares, Ebay etc. to see what comparable weeks at your resort have SOLD for (don't pay attention to asking prices as most people ask far too much for their timeshare). I sold my developer bought timeshare for about 1/4 of what I paid the developer losing thousands (that's typical).

I have written Brian at Tug to ask him to start putting a sold sign on all timeshares in their classifieds that have been sold so that other owners at a resort will know in what ballpark to ask in price. Redweek already does this.