Getting rid of a time share.
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Original Message:
Re: Getting rid of a time share. (by R P.):
carvana, your maintenance fee bill is like any other bill you owe. If you quit paying, it will affect your credit rating. Maintenance fees are timeshare resorts bread and butter.
I would keep it listed at $1 until you sell it or I would use it to my advantage by depositing it with an exchange company and exchanging for areas you would like to visit.
carvana wrote:I have a timeshare in Vail, Colorado that was built thirty years ago and is showing its age. The speical assessment and maintenance fees are far in excess of the rental value and my attempts to sell for $1 with me paying the closing costs have generated no interest. I am considering defaulting on paying the maintenance fees and am concerned about the impact of a foreclosure on my presently perfect credit rating. Any experience with how credit grantors view timeshare foreclosures?