Original Message:
Re: Re: Re: My timeshare is paid in full, but I just don't want it anymore (by KC):
brianl119 wrote:Suggesting that nothing will be done is unlikely. These companies will report you to a collection agency and if no payments are subsequently made, a negative report will be placed on your credit, resulting in a 100-150 point hit.
No offense intended, but you are largely mistaken. You may be unaware of, overlooking (or just conveniently ignoring) the fact that there is a clear and distinct difference between defaulting on a loan vs. someone merely stopping paying their maintenance fees on a fully paid off ownership (or RTU contract) that has no associated unpaid loan balance.
When a loan default is involved, the potential consequences that you describe above are indeed possible, even likely. However, with no loan default involved, ONLY unpaid maintenance fees, there is little likelihood of any consequences beyond foreclosure (in deeded ownerships) or the mere termination of any further "right to use" (in RTU contracts).
This is not a personal opinion. It is instead the observations of decades-long and very consistent developer behavior, both here in the U.S. and / or in Mexico.