Defaulting

Besides harassing and threatening letters and threats to charge me 33% penalty, what can I expect besides a credit report hit?

I haven't used a single point. I just refuse to pay for all the gotcha's i'm running into that the sales person didn't disclose. Matter of principle for me to not pay for such things.

TIA

TUGBrian said:

http://tug2.net/timeshare_advice/stop_paying_for_timeshare.html

Click to expand...

Thanks. It's a point system held in trust. What foreclosure can they do?

I'll put up with collections and credit hit. I just hate Welk and want to be done with them.

walking away is always an option any owner has...the ramifications and penalties of doing so vary from resort system to resort system and range from very little...to being sued for outstanding fees owed etc.

in most cases you can get a feel for what is going to happen by contacting the resort HOA and explaining that you are considering ceasing all payments to them from here on out.

Im assuming that their is a loan involved. If so, I think the worst thing that could happen is that the hoa would pursue a default judgement, and win

According to a lawyer I met (that specializes in these kinds of cases) most resorts just foreclose but some foreclose and then pursue a default judgement