Sell or not pay

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Original Message:

Re: Sell or not pay (by Carvan A.):

jayjay wrote:
carvana wrote:
Certainly the three major USA credit reporting agencies would report a failure to honor a contractual promise to pay covering a US timeshare but I doubt that they - any one of the three, TransUnion, Experion, etc - would report the failure to their counterpart in the UK. CGlenn

I disagree strongly with this statement. Why wouldn't the credit agencies in the U.S. not report a debt default purchased in the U.S. by someone in the U.K. to their credit agency counterparts in the U.K. or any other country for that matter? I don't believe it works that way.

The problem that many people have is thinking that just because they bought a timeshare, and it's a frivilous purchase, that it's not the same meaningful signed contract as a car, home or any other major purchase and they think they can just quit paying and it will not affect their credit rating. When you sign on that dotted line for anything, you are then responsible for that purchase and it doesn't matter what country you live in.

Your comment, "I don't believe it works that way" indicates you really don't know the answer. Again, I suggest anyone wanting a definitive answer to the question call or write a U.K credit reporting agency for an answer and not depend on speculation posted on U.S. blogs.