Help Please. Need advice

[AustralianGC]

Hi. I am an Australian Citizen who bought into the Silverlake resort in Florida when on holidays back in 2018 which is now owned by Capital Vacations. I currently have 5 years left on the loan of the timeshare but unfortunately through poor service and communication ( I have documented all the emails that they never replied to and phonecalls) I have never been able to use it and i am thinking of just stop paying all together as I will never use it. Do you know if this will affect my credit rating in Australia if I stop paying?
Thank you for your advice.

 

[AustralianGC]

Hi. I am an Australian Citizen who bought into the Silverlake resort in Florida when on holidays back in 2018 which is now owned by Capital Vacations. I currently have 5 years left on the loan of the timeshare but unfortunately through poor service and communication ( I have documented all the emails that they never replied to and phonecalls) I have never been able to use it and i am thinking of just stop paying all together as I will never use it. Do you know if this will affect my credit rating in Australia if I stop paying?
Thank you for your advice.

 

[SueDonJ]

[Moderator Note: Duplicate threads merged.] <-- SueDonJ

 

[TUGBrian]

welcome to TUG

not being a US citizen or living in the US mitigates the vast majority of consequences. While not a completely zero % chance, its probably a fairly safe assumption it wont impact your Australian credit at all.

What happens if I stop paying for my Timeshare?

Can I just stop paying for my Timeshare? What would happen?

tug2.net

 

[chapjim]

Best to ask the question of an Australian credit bureau. There are four, including Equifax and Experian, both of which are also in the US. It isn't inconceivable that reporting to either of them in the US might taint your credit rating in Australia.