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Re: Getting rid of your timeshare (by Catharine M.):

I abandoned a timeshare with Fairfield in Flagstaff and they put a mark against my credit for 3 years. I contested the credit ding and they never responded in the tine allowed (they only have 10 days to prove to the credit bureau you owe it, or it goes off) and it was removed. they never tried to get the fees for maintenance. there are only two things you can owe which never go away, income taxes and federal student loans. The rest go away after 7 years. technically, they could try to file a lien against you, but they almost never do. And if you are old, and on SS, they will not bother as they cannot attach that money, so it's not worth it to them. Also, I cannot see how heirs can be made to pay for something they never signed for, agreed to, or even knew about. JUST REMEMBER, NEVER PAY COLLECTIONS ANYTHING, AS ONE PAYMENT MEANS YOU AGREE YOU OWE IT AND HAVE AGREED TO PAY IT. iGNORE THEM AND HANG UP ON THEIR CALLS AND COLLECTIONS. AND DON'T BELEIVE ANYTHING THEY SAY--THEY WILL LIE TO GET MONEY. AND IF YOU PAY COLLECTION AGENCIES ANYTHING, IT GOES IN THEIR POCKETSAND YOU STILL OWE THE RESORT, SO WHY PAY ANYTHING? IF THEY SAY A PARTIAL PAYMENT WILL CLEAR THE DEBT UP, NOT TRUE. they WILL SELL THE REMAINDER TO ANOTHER COLLECTION AGENCY. IF THEY SAY THEY WILL TAKE IT OFF YOUR CREDIT REPORT, NOT TRUE. if THEY TRY TO COLLECT FROM YOUR CHILDREN, TELL THEM TO TELL THEM TO TAKE A HIKE AND HANG UP. COLLECTORS CAN'T ENFORCE A CONTRACT YOUR KIDS DID NOT SIGN AND SO THEY HOPE YOU WILL BE INTIMIDATED AND PAY UP ANYWAY. YOU HAVE TO BE HARD CORE AND NOT ABLE TO BE INTIMIDATED BY THESE CRIMINALS. ONCE IT GOES TO A COLLECTOR, THEY USUALLY DO NOT HAVE THE ORIGINAL CONTRACTS, SO THEY ARE COLLECTING ON INTIMIDATION ALONE, AND CANNOT DO ANYTHING AGAINST YOU EXCEPT HARASS YOU. ALSO, NEW CREDIT LAWS MAKE ONE CREDIT DING HAVE MUCH LESS IMPACT THAN IN THE PAST.

ruthh144 wrote:

I think we all should write letters to the local paper in which we live and warn people what they are like. Of course it might not do any good. My sister was warned and went right ahead and bought points with Diamond. People really don't understand what you go through or timeshares would not exist! I have told our timeshare we are giving our points back (paid for in full) and they say no way unless we pay them $10,000 I would like to know how much damage they can do. I was told they can't ruin our credit or otherwise hurt you. Does anyone out there really know ??? And can they force our children to take it when we die?? I don't understand the lack of regulation on these things and the suffering they have caused. Where is customer protection laws??