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Walk away from Mexican timeshare--Royal Sunset

bankr63

TUG Review Crew
TUG Member
Joined
Apr 5, 2009
Messages
553
Reaction score
100
Points
253
Location
Ottawa, ON, Canada
Resorts Owned
Vistana Resort Orlando (2BR, Deeded Wk10) , Silver Lake Resort Orlando (3BRLO)
I did check thanks it’s 822 so I don’t think they reported it yet???
Wow, 822/900 for a FICO is an excellent range score. There won't be any black marks on your credit report, so I would be suspicious of that lawyer who said it was impacting on your rating; that is just fear mongering.

And to be clear, the ONLY place I think that this can appear on your Credit Report is under the Public Records section; you'll know long before, because a court proceeding will be required. It will not appear in your revolving Accounts section because it is not that type of obligation, and if it was not registered in your Installment section (car and property loans) back when you signed on, then it won't be now. It does not qualify for the Mortgages section. I am fairly certain that to report under the Collections section that the debt has to already be reporting in one of the previous sections of your report. So again, the only way that I can see it hitting your bureau is if they take you to court and obtain a judgement.

However, this advice is free and is worth what you paid for it. It is also based on my knowledge of Canadian banking; reporting may differ somewhat in the US as your financial laws are different (but generally more to your benefit as others have pointed out). Just be cautious what you do. I don't think you can dispute the debt as suggested however. Who do you dispute it with if it hasn't been reported/recorded anywhere?
 

freechoice88

newbie
Joined
Sep 16, 2019
Messages
2
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1
Resorts Owned
ROYAL SUNSET
Thanks LannyPC. Several people mention just walking away from Mexican timeshares which is what I am thinking of doing. I'd like to know if anyone has done that with Royal Sunset and what the reaction was.
 

freechoice88

newbie
Joined
Sep 16, 2019
Messages
2
Reaction score
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1
Resorts Owned
ROYAL SUNSET
Hello...I haven't paid since January 2019...rs sent me a notice that I owe mf and a five year renovation fee? Any suggestions to
there wasn't any mention of the five year fee on January but now rs wants mf and a five year renovation fee? Thanks any suggestions?
 
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