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Hope springs eternal... (by KC):

patrickw195 wrote:

We stopped paying our loan payments about 5 months ago. All I've had was a few calls which I don't answer. No letters yet or credit agencies contacting me. Our credit score is really good so I'm not too worried about our credit changing.

With all due respect, If you default on ANY loan you should reasonably expect negative credit report consequences at some point, even if that result is not immediate. Your credit score WILL be negatively impacted (for a period of seven years, to be precise) once the loan default is processed. That said, banks and other lenders have very different viewpoints and perspectives when looking at "timeshare loans". After all, the entire timeshare industry has a long established, well earned and very much deserved reputation for deceitful practices. Defaulting on a timeshare loan is not necessarily the "kiss of death" if everything else is solid on your credit history over an extended period of time.

"No news" (particularly so shortly after defaulting on the loan) is not necessarily "good news". Your situation has not just magically disappeared and / or somehow unilaterally resolved itself merely because you have stopped making loan payments. It's just simply too soon yet for the inevitable negative credit report consequences to have manifested themselves, as they will. Nonetheless, good luck.