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Re: Manhattan Club Lawsuit (by Sally W.):

If you stop paying your fees, it will eventually show up in your credit report, but if your credit is good that one derogatory won't hurt it much. A number of people writing in this forum have stated they stopped paying maintenance fees long ago. TMC can't "come after" you, but they will keep hounding you with letters, because the billionaire owners really do want that huge cash flow to keep rolling in. Yes, it will hurt them significantly if we all stop paying. I'm also going to quit paying on my ts mortgage because it was sold to me under false pretenses and I can't use it due to TMC's overbooking practices. I expect to get lots of pressure from TMC, which I'll ignore. Eventually, I expect they'll foreclose on my ts (this can take a couple of years to occur), which is what I want because it's my only way out of this mess since I can't sell it or give it back. A foreclosure means I'll probably be ineligible to get another mortgage loan for 5 to 7 years, unless I can convince a lender that I was the victim of a "predatory loan," which may be possible in the TMC case. Since I'm not planning to get another mortgage or large loan, it won't be a problem. For me, it is so worth it to get out from under this ever-increasing burden that I was tricked into. I've got all the credit cards I need & in a few years my credit will bounce back. I'd rather lower my credit score than continue to feed this nasty beast.