What happens if I just stop paying my timeshare?

What happens if I just stop paying my timeshare?

Post in timeshares

What a lot of timeshare owners don’t know is when they sign the paperwork on their timeshare, they’re agreeing to pay any monthly payments and additional fees (annual maintenance fee payment), so long as their name is on the deed. If they miss payments, it could increase their debt even more and be detrimental to their future finances

In most cases, after you miss your first payment, a collection effort will be made by either the resort developer or homeowner’s association.

When this happens your credit score could be affected in a negative way, and your ability to finance major purchases, like vehicles, could be damaged greatly.

Another factor in play here is your interest rate on your timeshare mortgage. It could potentially spike your total amount due, making it nearly impossible to pay off anytime in the near future. 

Something else to think about is if you can’t manage your own fees, another owner might have to pick up the tab. In some cases at lesser and cheaper resorts, the owners have reserves and will sometimes cover the fees for you if you are in a financial situation where you can’t pay them yourself. While this is a rare occurrence, if you’re fortunate enough, it could happen.

Can you just walk away from a timeshare?

Much like owning a house, walking away from a timeshare will eventually end in foreclosure. Since timeshare property is treated like actual real estate, the foreclosure process is the same. If you continue to miss loan payments on your loan, the timeshare company could go to court and file a foreclosure lawsuit to obtain the rights to your unit and take it back. While it mainly depends on what state you have your timeshare in, this process can take about one year.

A lot of individuals tend to argue that if their timeshare mortgage is fully paid off, they should be able to just walk away. However, this is not the case because of annual payments known as timeshare maintenance fees.

What are timeshare maintenance fees?

When it comes to the timeshare industry, these added costs are everywhere and sometimes they’re hidden. Every year the resort developer will send you an invoice for additional fees known as maintenance fees. The timeshare maintenance fees are usually collected by the resort developer or management company for the sole purpose of covering upkeep around the property. 

As an owner, the most important aspect to understand is that there is no way to make sure your maintenance fee won’t increase. You can’t make sure it’s set-in-stone and not going to continually rise over the next decade of owning your timeshare. This is why a lot of people either can’t afford their annual fee or simply want to stop paying it.

What happens if I just stop paying my timeshare?

Many resorts take maintenance fee obligations very seriously and consider them to be on the same level as timeshare mortgage payments. This means that if you don’t stay up to date on your maintenance fees, the resort developer or timeshare company could foreclose on your unit. This of course, will hurt your financial status greatly and could affect your ability to make future purchases like financing a vehicle or home.

How can I get rid of my timeshare without damaging my credit?

After years of paying all of the fees and charges on their timeshare, owners begin to start thinking about any way to get rid of this burden that won’t hurt them in the long run by ruining their credit history. One of the best ways to do this is through timeshare cancellation. This means that your timeshare agreement is terminated, and your name is no longer tied to something that costs you money every year.

Getting rid of your timeshare is not a simple task, but timeshare exit companies can give you the peace of mind that someone else is going to work for you everyday and not back down to the timeshare industry. However, you will need a cancellation company who makes sure they can cancel your timeshare by going through a qualification process. Do not work with companies who will outsource your case to a law firm, real estate attorney or other companies. Also, make sure the company has a 100% money back guarantee, so that you don’t find yourself deeper in debt. 

Credit repair options

If you work with a timeshare exit company like Wesley Financial Group, LLC, you’ll be fortunate enough to find that they offer a credit repair customer service program after your timeshare is terminated.  This is where a credit repair specialist will assist you and attempt to go through your credit history content to get certain negative aspects – in regards to your timeshare – removed.

This can be crucial for you and or your family moving forward if you’re trying to plan some major life decisions like starting a family or retirement.


It’s important to remember that only a timeshare owner can be held responsible for the decision to stop making payments on a timeshare unit. Though timeshare ownership can be frustrating at times, it’s hard to justify purposely missing payments on your timeshare because of all the long term repercussions. As a timeshare owner, the best way to stop paying your maintenance fees is to hire a timeshare cancellation company to get you out of your timeshare and move forward.

Wesley Financial Group, LLC is a timeshare cancellation company founded in 2011. They are a great option for a timeshare cancellation. For more information on their process, services and history, visit their website.