I am want to get rid of my Wyndham timeshare. I have one that is paid off but I made the mistake of buying extra points so now I owe abou 8K. I stopped making payments because I dnt have money because kids are in college and I need to pay for that. I have a collection agency sending letters to me already. I stopped paying in November 2023. I never answered the calls from Wyndham because there is no way I can pay 500 a month on the loan and the maintenances fees. What will happen, can they sue me and take the very little I have? I dnt own a house and dnt plan on buying one any time soon. Please help me!!
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Best way to get rid of my Wyndham timeshare
- Thread starter Jack1978
- Start date
- Joined
- Jun 6, 2005
- Messages
- 32,080
- Reaction score
- 9,134
- Points
- 1,049
- Location
- The Centennial State
- Resorts Owned
- Wyndham Founder; Disney OKW & SSR; Marriott's Willow Ridge and Shadow Ridge,Grand Chateau; Val Chatelle; Hono Koa OF (3); SBR(LOTS), SDO a few; Grand Palms(selling); WKORV-OF ,Westin Desert Willow.
I don't think they can take anything you have. I think a phone call to tell them you cannot afford what you bought and want to have them take it back. They should be okay with that. But ignoring it is always a way to handle it because eventually they will stop trying to get money.
I am so sorry Wyndham talked you into buying something you cannot afford. It's so Wyndham.
LannyPC
TUG Member
It's not just Wyndham.
- Joined
- May 20, 2006
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- 47,709
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- Resorts Owned
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Marriott Grande Vista
Marriott Harbour Lake
Sheraton Vistana Villages
Club Wyndham CWA
What exactly do you own? Club Wyndham Access, a deeded week? At some point they will foreclose and the debt will be behind you. They may or may not issue a 1099-C for the debt they write off, so there could be tax implications. They are unlikely to seek any kind of recourse judgement. If they are even able to depends on the state where the timeshare is in.
- Joined
- Aug 21, 2005
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- Palm Springs of Washinton
- Resorts Owned
- Worldmark * * Villa Del Palmar UVCI * * Vacation Internationale*
They will probably turn it over for collection and ding your credit. It stays on the credit report up to the Statue of Limitations depending on where you live.
Bill