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Re: WALK AWAY FROM TIMESHARE (by Carvan A.):

pattig31 wrote:

have had many friends who have simply walked away from the time share maintenance fees. They call and harass you for awhile, but then give up. No real impact on credit...especially in these times of people not even paying their house mortgages

What do you mean with comment there was "no real impact on credit"? Was there an adverse posting on their credit reports or not? Any posting would be considered a "real impact" by some whose goal is to maintain perfect credit. In my opinion, the maintenance fee is not a personal obligation because the purchaser never signs a promise to pay the maintenance fees. It is an obligation imposed by the declaration filed by developer prior to first sale and runs with the land.

The failure to pay a non-personal debt, i.e., maintenance fee, should not be reported on one's credit report and should be challenged if it is. A foreclosure for failure to pay will show up on your credit report as a legal filing and could adversely impact your credit. To avoid this, offer a "deed back in lieu of foreclosure" which most resorts will initially reject but will finally accept rather than go through the expense of a foreclosure.

I have not and do not plan to walk away from a maintenance fee but by the same token I understand there are some timeshares that cannot be sold, given away, or donated to charity. Many owners of these worthless timeshare will in time face reduced income as the result of retirement, divorce, death of a partner, or loss of employment. Pontificating about the morality of not paying maintenance fees or sermonizing about when you don't pay others have to pick up the slack is of little comfort to these folks who find themselves in timeshare purgatory.