What are the potential consequences of refusing to pay for timeshare purchase?

“What Happens If You Refuse to Pay for a Forced Timeshare Purchase?”

If you refuse to pay for a timeshare purchase that you feel you were forced into, there are several potential consequences that you should be aware of, and they are quite serious:

Legal Action: The timeshare company may take legal action against you to recover the debt. This could result in a judgment against you, which could lead to wage garnishment, bank account seizure, or liens on your property. You could lose your house or children’s inheritance.

Credit Score Damage: Late or missed payments on a timeshare purchase could damage your credit score, making it more difficult to obtain credit in the future.

Collection Calls: The timeshare company may hire a collection agency to collect the debt, which could result in harassing phone calls and letters.

Additional Fees: The timeshare company may charge additional fees for late or missed payments, including late fees, interest charges, and legal fees.

Loss of Property: If you are unable to pay for the timeshare and the timeshare company forecloses on the property, you could lose your investment and any equity you may have had in the property.

It’s important to note that if you feel you were forced into a timeshare purchase, you may have legal options available to you. Before refusing to pay, it’s a good idea to consult with a a timeshare exit company who specializes in timeshare to understand your rights and options.