Original Message:
Re: Re: Re: Re: My timeshare is paid in full, but I just don't want it anymore (by KC):
brianl119 wrote:@KC I assure you that any company can send your “file” to a collection agency, loan or not, for lack of payment. And once in collections, the collection agency will do what they feel is necessary to collect on the debt, with the majority of their actions being a negative record to all 3 bureaus, and a 100-150 point loss.
With all due respect, you seem to be missing an important point regarding the significant difference between what a timeshare resort (or timeshare company, if it's a "chain") CAN do vs. their ACTUAL PRACTICES after non-payment of maintenance fees, as has been consistently observed and reported over the past several decades.
I do not disagree or dispute that any timeshare entity can create a negative credit report issue for unpaid maintenance fees alone, even with no unpaid loan balance being involved. We certainly agree on that point. I am simply observing that, historically, most generally do NOT bother to do anything (beyond foreclosure) when NO loan default is involved. If you happen to know of specific examples to the contrary, participants here (including me) would certainly like to learn about them.