Original Message:
Re: My timeshare is paid in full, but I just don't want it anymore (by KC):
donp196 wrote:That's an interesting point . If you default on payments then they have to take you to court to get a judgement before they could report it to the credit agencies . If they went through all that then you might have a problem . I know you can dispute negative report and the credit agencies have been more sympathetic to the consumer in matters like this . That may give you some leverage to negotiate an exit from your contract .Like Ken said it might be worth the effort to contact someone at Raintree and make an offer . It might even consider paying a local attorney to send the letter for you . Good luck .
A few relevant points may be worth mentioning. Many states now provide for "non-judicial" foreclosure --- greatly expedited proceedings which involve much less time, effort and legal expense than the historical long-ball court proceedings route.
That said, abandoning a MEMBERSHIP, in which nothing is actually "owned" to have to be "retrieved" in the first place, probably does not fall into the category of "foreclosure", per se. It would merely be a "membership cancellation". In any event, I frankly don't think or believe that many (if any) "vacation clubs" would exert one iota of effort toward negative credit reporting for a fully paid off (but now abandoned) "paper membership", since there is no value or ownership to be "recovered" anyhow (as would be the case, by contrast, with a deeded timeshare ownership). OP should perhaps consider consulting a licensed attorney is his own geographic area. The Internet is really no place to just blindly accept advice from unknown others in any matter of potential legal consequence.