Original Message:
Consequences... (by KC):
larac37 wrote:My timeshare has been paid in full for many years now. I know that I will not receive any money back. Now I'm just left with maintenance fees. My timeshare is associated with Raintree and payments are made within the US to RVC Members. What happens if you stop paying maintenance fees? Will it appear on your credit report? How many others just quit paying? What were the results?
There is unfortunately no "one size fits all" answer to this "what happens" question if you stop paying maintenance fees on a timeshare in in the U.S.
If there is an unpaid loan on a timeshare, defaulting on that loan will obviously (and promptly) result in a negative credit report "hit" --- that much is a certainty. If the timeshare is fully "paid off" and you stop paying maintenance fees, at some point (after collection efforts), foreclosure will be ultimately initiated. However, whether or not a post-foreclosure negative credit report "hit" occurs in the latter "no loan involved" situation cannot be reliably predicted; it depends entirely upon the individual company / HOA practices and policies.