Sell or not pay

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Original Message:

Re: Sell or not pay (by R P.):

richardd234 wrote:
Hi stephenc107

I'm also in the UK and in the same position (I imagine) as you. I'm trying to find out the same information as you. If I find out any more I'll let you know and visa versa, please. I often check my credit repor in the UK and nothing regarding my timeshare has ever appeared on there. This however doesn't mean that it will not. I pay every month on my credit card. Do you do the same. I'm going to cancel the card as that certainly appears the best way to stop payments! Regards Rick

Once again, ceasing your payments will affect your UK credit rating and foreclosure will follow. It's a global economy and a time of instant communication. Don't let anyone here talk you into ceasing your timeshare payments or maintenance fees if you want to protect your credit.

If foreclosure wasn't allowed abroad for USA bought timeshares, then NO timeshares would be sold to anyone outside of the USA, and vice versa, if an American bought a timeshare in the UK (or anywhere else in the world) and stopped paying financial obligations, the same thing would occur ... foreclosure and default affecting one's USA credit.

To think that anyone can just stop paying their financial obligations is absurd thinking. If the case was such then every foreigner would come to the USA and make all their purchases and then not pay with no repercussions whatsoever and vice versa.

Sorry, the world of global finance just doesn't work that way. It's really common sense.