I think, therefore I transfer.

Tuesday, February 7, 2012

I want out of my timeshare contract. What would happen if I just stopped paying towards it?

Here at Transfer Smart many patrons make the same comment: I don’t want my timeshare anymore. What happens if I just stop paying the yearly special assessment and maintenance fees?

First, the timeshare company will vigorously pursue the money you owe them. Some contracts last for thirty years; others “forever,” as they are passed down to your children. Just because you don’t use a timeshare doesn’t mean you can stop paying on it. Timeshare companies are well versed in how to write up their contracts that are beneficial to them, not you. And as long as you are paying towards an empty room, they are winning.

If you decide to stop paying, they will do everything they can to contact you, either through email, snail mail or by phone. If you stay the course, they will send you over to a collection agency and this is where your credit rating begins to suffer. Most timeshare owners have good credit, and will give in here. But it’s ridiculous that a vacation resort, which is supposed to serve and provide relaxation to you, would be so tenacious in their pursuit of your money. But in a recession, tourism is down, and they have your name on a contract that is very much slanted against you. They will do your best to get your credit ruined, and they will continue with harassing letters and phone calls.

The only way to get out of a contract is to legally get your name off of it. This is where Transfer Smart comes in.

We offer legal exit solutions that get you out of your contract forever. Contact us today to see what we can do for you.

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