Paying off a timeshare early

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Original Message:

Paying off a timeshare early (by Dave K.):

Here's some more input regarding the US and Australia wrt credit reporting. NB: I realise that it's not really ethical or moral to walk away, but it is a viable option.

I own a house in the US and have been trying to sell or rent it for some time now. If I cannot do so by October, I've been advised to just "walk away". Turn in my keys to the bank and let them foreclose. I realize this will drastically affect my credit in the US. Will it transfer over and prevent me from getting any kind of credit in Australia?

No it doesn't affect you in AU, you will start a new credit history here. But personally if you ever return to the US your assets can be seized and all sorts of bankruptcy proceedings taken against you.

For now that might not be anything but who know what happens 10, 20 years down.