Original Message:
Options are few when there is a loan involved... (by KC):
paulafp wrote:They did lowered my interest rate but now that I'm tryin to get rid of it every place tells me they can't help me at all. If your wanting to keep your timeshare maybe its a good idea but i dont know.
There really isn't anything you can do to part with a timeshare on which there is still an outstanding loan balance, regardless of loan interest rate. There is simply NO ONE who can "help" you while a unpaid loan obligation still remains firmly attached to the timeshare.
You indicated previously that this is a Westgate timeshare. Unfortunately, even if it was paid off in full right now, you would have great difficulty even giving it away for free, since Westgate reservation policies greatly devalue all resale-acquired Westgate timeshares. Their properties are certainly nice enough --- but the company and its' practices and policies are absolutely the pits and they deliberately render all Westgate resales nearly worthless.
I'm not advising you to do this, but you always have the option to cut your losses by simply NOT paying another nickel, defaulting on the loan and enduring the inevitable credit report "hit" for 5-7 years. It just seems like a waste to keep paying off a loan for something which is essentially worthless in the resale market anyhow and, even if fully paid off, you would have great difficulty even giving away FOR FREE. Just offering food for thought, not making a recommendation. I am sorry for your plight; you are certainly in a very tough spot.