Brodieisbest
newbie
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- Mar 28, 2024
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Greetings all,
Quite a long story but I never really wanted my timeshare in the first place (rather not explain how I got trapped into buying it but it was my fault if anything being vulnerable to a sales pitch that sounded too good to be true)
7 years in, I've never missed a loan payment but I still have more than a couple thousands to pay up to complete the payment in a couple of more years.
I have used my timeshare once to stay at a hotel for 3 nights and I was not really satisfied at all.
Thought I have never pissed a loan payment, I have stopped paying them the maintenance fees for a couple of years now so I also "owe" them a couple thousand bucks which I don't plan on paying at all. When I do finish paying off the loan to them in 2 years, the maintenance fee will be twice as high as that.
What would be the best way for me to get rid of my timeshare as of now (without hurting my credit of course)? I've sent a letter to them and they said I'm not qualified to cancel yet because I still have the loans to pay off. But once I pay off my loans, the maintenance fee that I "owe" will be through the roof and they will likely use that against me (won't they?) and say that I need to pay off the maintenance fees I owe all these past years.
If I want to "sell" it now for free, can I do so while paying off the loans during the on going few more years? And will that be possible even though I have maintenance fee + its penalty fees outstanding?
Any advice to me would be greatly appreciated!
Quite a long story but I never really wanted my timeshare in the first place (rather not explain how I got trapped into buying it but it was my fault if anything being vulnerable to a sales pitch that sounded too good to be true)
7 years in, I've never missed a loan payment but I still have more than a couple thousands to pay up to complete the payment in a couple of more years.
I have used my timeshare once to stay at a hotel for 3 nights and I was not really satisfied at all.
Thought I have never pissed a loan payment, I have stopped paying them the maintenance fees for a couple of years now so I also "owe" them a couple thousand bucks which I don't plan on paying at all. When I do finish paying off the loan to them in 2 years, the maintenance fee will be twice as high as that.
What would be the best way for me to get rid of my timeshare as of now (without hurting my credit of course)? I've sent a letter to them and they said I'm not qualified to cancel yet because I still have the loans to pay off. But once I pay off my loans, the maintenance fee that I "owe" will be through the roof and they will likely use that against me (won't they?) and say that I need to pay off the maintenance fees I owe all these past years.
If I want to "sell" it now for free, can I do so while paying off the loans during the on going few more years? And will that be possible even though I have maintenance fee + its penalty fees outstanding?
Any advice to me would be greatly appreciated!