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Tired of paying expensive fees every year, many timeshare owners simply decide to stop paying the resort.
That could be a huge mistake. Beware of collection agencies that can affect your credit score.
Timeshare contracts must follow the regulations established in the country where the purchase was made; therefore, there are many timeshare consumers who have the idea that if they bought a timeshare in a foreign country, they could easily stop paying the fees without affecting their credit score.
This is a huge misunderstanding. The resort can sell your debt to a collection agency; Concord Servicing Corporation is one of the most known.
Collection agencies
A collection agency is a company that obtains or pursues payments of debts owned by a third party –individuals or businesses–. Most of these companies function as agents of creditors and collect debts for a commission.
When a collection agency gets a hold of your account, it is very likely that it will include other expenses like special fees and interest, which can make that your debt grows even more, and ultimately report you as past due.
The report takes normally a month to appear on your credit report, but it takes around 7 years to clean it off. Concord Servicing Corporation is one of the most important collection agencies.
The Company
CSC is an international collection agency that offers consumer receivables servicing to many businesses.
Concord Servicing Corporation started their operations in 1988, and since then, the company has expanded the diversity of asset classes they service.
Their offices are located in Scottsdale, Arizona; Buffalo, New York; Orlando, Florida and Mexico City, Mexico.
CSC works commonly with the following timeshare companies:
MEXICO:
- Pueblo Bonito
- Royal Holiday
- NH Krystal
- Hacienda del Mar
U.S.A
- Celebrity Resorts
- Festiva Resorts
- Gold Key Resorts
- Palm Beach Resorts
The complaints
We receive several calls from clients complaining about Concord Servicing Corporation.
Most of these clients were not informed that their debt was sold to a collection agency until they started to receive frequent calls from the collection agency.
It is important not to underestimate the ability of a collection agency to find you.
Concord Servicing Corporation uses the best resources to track down a debtor, being a company with over 20 years of experience and is equipped with the most efficient technological tools.
CSC executives can be incredibly persistent when it comes to charging a debt.
Our clients have been called from early in the morning to late at night.
Some of them were contacted at their work or at their cell phones numerous times, not to mention the innumerable emails and letters.
Others have reported that even their beloved ones were contacted, even though the FDCPA (Fair Debt Collection Practices Act) forbids these abusive practices.
The real solution
As you might know by now, if you want to get rid of your timeshare, to stop paying to the resort is not a viable solution at all, in fact, it can be very harmful for your financial situation.
That being said, the best solution to dump a timeshare is to cancel the contract.
If you are sick of paying expensive fees every year for a timeshare you never use, contact Mexican Timeshare Solutions for a free consultation on your matter.
MTS is a company with highly trained professionals and over 18 years of experience.
Thousands of cases solved successfully back us up. Contact us today and protect your credit score for a healthy financial future.
To receive more information about Concord Servicing Corporation and how to cancel your timeshare, send a WhatsApp to +52 333 239 6589, fill out the contact form, or call us at +1 714 277 3662.
Information to Share
If you liked this article, please help us to share this information to more people in order to avoid more timeshare scams victims, how?
solicito a ustedes que me envíen el formulario en español para poder realizar los pagos mensuales de mi membrecia a nombre de Modesto Luis Garcia correspondiente a Pueblo Bonito sunset con el numero de socio 13460145738, dicho pago lo realizare con tarjeta visa. Gracias espero su respuesta.
Is sad that these timeshare scams exist because the only thing they will do is scare off tourist, at least I do no return to Puerto Vallarta, salespeople are a really hedeache, they don't respect the rules
Timeshares are a terrible, terrible idea. My in-laws are in one of those “point” programs. What they don’t tell you is the points depreciate (or the number of points needed inflates) each year. So where you could get a nice 1 week vacation now you can only get a decent two night stay.
I have never understood why anyone buys a timeshare. I've been to several timeshare sales presentations, and had no problem walking away from them. Why? Because they make no sense! They try to woo you with all kinds of financial shenanigans, but add up how much you are actually spending per year (payments, annual maintenance, other hidden fees, taxes etc.), and you can always get a really nice hotel room for far less...anywhere you want. Why would anyone want to lock themselves into one specific place at one specific time for every vacation? Aren't there other places you want to see? Other times of the year you want to travel?
son lo mas molesto que me ha pasado, ya no se como librarme de esto, ayudenm,eeeeeee
The timeshare industry must perform a deep cleaning otherwise the industry will be severely affected because of the lack of trust. There are timeshre scam and timeshare cancellation stories of people who trusted their prayers would be answered.
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