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Original Message:
Defaulting on Points timeshare (by R P.):
mimib27 wrote:thank you i knew that but what more can they do besides the credit. Can they go after other property if they receive a judgment? ARe 401Ks, pensions, and social securtiy exempt from anytype of judgment.Is there a statute of limitations on this type of action?
I don't know how far they might go BUT damaging your credit rating is a big deal as it affects many aspects of your life including future job applications, loans, insurance etc. The first thing a business entity looks at in dealing with you is your credit rating. You signed a legal contract to buy points and if you default it can be a huge negative.
Not only would you be defaulting on paying the rest of your loan but you would also be defaulting on future maintenance fees - double negative whammy.