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sabrinat4 wrote:This additional provided information now makes it clear that you actually have BOTH a purchase loan AND unpaid maintenance fees. "Letting the timeshares go" is much easier said than done since those timeshares clearly also have their own associated loan obligations.....the maintainence fees is only part of the problem we still have loans on both of the properties. We live in California and I do know that some creditors will garnish your wages but as far as timeshares don't know. Our credit is already dingged due to lates with our mortgage but that is almost resolved; we have come to an agreement with our lender, however, in order to fulfill that agreement and keep our home we have to let the timeshares GO.
This MIGHT mean that there are actually two separate and distinct entities here to whom you have debt obligations. If so, either one can pursue its' OWN course of action. For Wyndham, that will simply ultimately mean foreclosure on the timeshare weeks at some point. However, it could well be that Wyndham does NOT hold the note regarding your purchase loan. If that is the case, then that "other" creditor can independently pursue its' own course of action. Stated another way, you may have to deal with more than just Wyndham.
You would be well served at this point by consulting an attorney in CA. Given the complexity of your situation and the apparent co-existence of OTHER lender agreements, you should definitely seek competent, face to face legal counsel and guidance regarding a course of action.