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It ain't that simple... (by Scott M.):

Yeah it is that simple !! I walked away from my time share. There wasn't a Note on the timeshare, it was paid free and clear. Couldn't even give it away. So I stopped paying the maintenance fees. They tried multiple ways to collect them, ignored them, and then sent the deed to auction. They got exactly $55.00 for it at auction. Any collection notices on a credit report lasted 6 months on the report. Didn't even hurt the score. It costs them more in legal fees than the timeshares are really worth. That's the thing they don't want you to know. Now if you default on the note or loan, then bad things happen. I have been on this thread for a while. I have helped multiple people get out of there timeshares using the same technique. Best of luck, but stick to your guns, they try and scare you into not doing this.