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Learn the one solution that will stop those collection letters from the timeshare resort for good, as well as protect your credit rating.
Timeshare contracts are legally binding in Mexico, the USA and Canada.
Numerous timeshare consumers do not take the time to read their contract carefully because they are on vacation, and they often think that a contract signed in Mexico will not leave them with any repercussions to their credit score in their home country if they default on the payments.
With these difficult economic times, many people who thought that they could afford a timeshare five years ago, have been put in a situation where it is difficult to meet all the monthly expenses, let alone pay for a timeshare that was sold under fraudulent premises.
Unfortunately, thousands of timeshare owners get reported to the credit bureau each day due to defaulting on their loans or maintenance fees to the timeshare resorts after not realizing that their contract was legal and valid in their home country.
Can a Mexican timeshare ruin your credit in the US or Canada?
The timeshare resorts spend millions of dollars on ensuring that their written contracts are legal and binding for all their international clientele, but particularly their American and Canadian consumers.
They will do everything in their power to protect their interests in getting the money from the timeshare buyer, even if the services promised to the clients were lies and misrepresentations offered verbally by the salesperson.
Several Mexican timeshare companies have offices in the US, that allow them to collect on loans internationally.
Other resorts sell their debts to collections agencies in the US and Canada that are in charge of ensuring that the loans are paid in full.
As the collections agencies are located in the US and Canada, they do have the legal ability to affect client' credit ratings if they miss a payment, are late on a payment, or simply decide not to pay because they feel they were victims of a timeshare scam.
These collections agencies are extremely persistent in their attempts to recover the money from the timeshare owners.
They will call at all times of the day or night, to their home, work or cell numbers. They will also send countless emails and letters, trying to collect.
Many timeshare owners will pay off their debts, even if it is a timeshare scam, in order to ensure that their credit score remains intact, as they are worried about the future of their financial health and their ability to borrow.
In this scenario, the timeshare company has won the battle, as they have all the client's money, and often fail to live up to their end of the contract.
How can I cancel my timeshare as well as the annual maintenance fees without affecting my credit rating?
There are three options for people who want to stop paying their timeshare; however, only one option is a safe way of protecting yourself and your credit.
- The first and most extreme option is to file for bankruptcy.
This is a potentially very damaging act, as it will affect your ability to borrow for a minimum of 7 years.
This can inhibit your ability to purchase a home, a car, an education, and many other things that are necessary to having a comfortable and enjoyable life. - A second option is to try to rent or sell the timeshare.
This is a very risky option because there are many rental and resale agencies that charge upfront fees for the service, and then never rent or sell the timeshare.
The client is left with the payments, and has lost another amount on the listing fee.
Some fortunate timeshare owners are able to rent their weeks privately on ebay or Red Week; however, they earn pennies on the dollar, and often rent or sell for less than the cost of the annual maintenance fees or resale transfer fee imposed by the resort to change the title. - The only safe option is to cancel your timeshare membership. By canceling your timeshare contract, the agreement becomes null and void.
This is not the same as renting or reselling your timeshare to another person, who will realize that the timeshare is a scam. This is a way of removing all legal rights that the resort has to the timeshare owner by canceling the agreement all together.
Our staff at Mexican Timeshare Solutions specializes in canceling timeshare contracts and, whenever possible, recovering the money that the timeshare scam victim originally paid.
If you do not want to pay another penny for a timeshare that deceived you, but are worried about your credit rating, contact Mexican Timeshare Solutions today for a free consultation.
We can help you cancel your Mexican timeshare contract and all corresponding financial obligations so that you are free of your timeshare for good.
Don't hesitate; protect your credit score today!
To receive more information about how to protect your credit score and how to cancel your timeshare, send a WhatsApp to +52 1 333 239 6589, fill out the contact form, or call us at +1 714 277 3662
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run away, fast as you can. don't take their prizes or tickets.
run away, fast as you can. don't take their prizes or tickets.
Is there a way I can cancel a timeshare and a travel vacation contract?
We have been owners with Escapes Resorts, which is a Cooper Community property for several years with our home property being at Los Lagos, Hot Spring Village in Arkansas. We, also, have RCI membership. Our timeshare is a 2 bedroom, 2 bath lock-off unit that we pay yearly maintenance fees. We are supposed to be able to deposit with RCI if we do not make use of the property. We were unable to make use of the property in 2013. I called Escapes December 23, 2013 to ask them to deposit to RCI. I was informed that I had waited too late to do so, and that I should have requested this 30 days prior to the end of the year. This is the first I had heard of this policy. In fact in the year 2011 I deposited our unit to RCI on December 28th. As a result of this we lost $552.00 we paid for our maintenance fees. Recently Festiva has acquired this property, and for premium membership we will be required to pay an additional fee. Thank you for any advice or help we might receive for these deceptive trade practices.
We have been owners with Escapes Resorts, which is a Cooper Community property for several years with our home property being at Los Lagos, Hot Spring Village in Arkansas. We, also, have RCI membership. Our timeshare is a 2 bedroom, 2 bath lock-off unit that we pay yearly maintenance fees. We are supposed to be able to deposit with RCI if we do not make use of the property. We were unable to make use of the property in 2013. I called Escapes December 23, 2013 to ask them to deposit to RCI. I was informed that I had waited too late to do so, and that I should have requested this 30 days prior to the end of the year. This is the first I had heard of this policy. In fact in the year 2011 I deposited our unit to RCI on December 28th. As a result of this we lost $552.00 we paid for our maintenance fees. Recently Festiva has acquired this property, and for premium membership we will be required to pay an additional fee. Thank you for any advice or help we might receive for these deceptive trade practices.
Timeshares do not make any sense to me! It is making a commitment to spend money every year for vacation. In addition there are additional costs such as maintenance as well as the unlikely future sale at a profit. Too uncertain for my money.
I am always surprised when I read the answers given by the experts. Not the answer but the fact that people keep on buying these things. They are a scam in every respect and yet the sellers are never prosecuted.
What can I do to avoid my credit score be affected?
That means my credit score is going to be affected by my timeshare? What to do so it doesn't happen?
I need some help selling my timeshare is already in “Foreclosure”. How I can get it off from taxes and stuff like that? Thank you.
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