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Original Message:
Timeshare in Mexico... (by KC):
karenj456 wrote:If I stop paying for my Cancun time share that is right to use, no deed. Will it affect my credit.The all inclusive fee went up $20 to $105. The cost of a 3 bedroom is more than I would ever pay. $3200.
I want out. Payments are $199.
Virtually all Mexican timeshares are RTU "memberships", with no deed and no actual ownership of anything whatsoever.
Unless your (unidentified) timeshare company also has a legal, business entity presence of some kind right here in the U.S., and / or you took out a loan from a U.S. financing source (unlikely), you can simply walk away and pay not another nickel without any consequences or negative credit reporting. You may get collection calls, but even that prospect is unlikey. They will just blow you off --- there are plenty of other "lucky winners" coming around the corner there soon enough to sign on the dotted line. If there is any U.S. company involvement in any part of your purchase or financing however (again, not likely), all bets are off.