I own a timeshare property, when I refused to the maintenancefee the company says it will spoil credithistor?

Q) I own a timeshare property, and I refused to the yearly maintenance fee, now the company through a collecting agency has sent a letter saying that if i dont pay it will spoil my credit history. IS THIS TRUE? And i dont want this property, no one wants to buy it either. How can i just surrender this property. Please help me.

A) Sorry. This is an obligation you've gotten into. It's a valid debt. If you don't want it any more, try to give it away. You can also try a charity www.donateforacause.org They take some timeshares off of people's hands.

Buying Timeshare property?

Q) Can someone that has bought any timeshare property explain to me just how it works and what is involved? I have a coworker that has one for sale(his protion) . says he gets onw week a yr. However he also says the "year" he owns it he rents it out for the whole yr. and gets to keep the profits---anyone ever heard of this ?

A) I owned and sold my timeshare in Orlando. Timeshares can save you money on your vacations IF you know how to utilize them properly. Just like real estate, timeshares are about location, location, and location! If you own in a lousy location or if you have a great location but a really bad week there, then you will most likely be unhappy with the timeshare. When purchasing a timeshare you need to be aware of the annual costs not just the purchase price. The maintenance fee & Taxes are usually paid annually and usually increases every year. You will be responsible for paying these whether you use the timeshare or not. And like the previous answers, normally you only get one week per year. So I would ask your friend to provide you with. *Annual Maintenance fee & Taxes (ask about average increase since they have been owners) * Last special assessment and make sure there are no liens on the property.

Hilton Las Vegas timeshare property offer?

Q) I recently got a phone call about some new timeshares, in las vegas that the hilton has. I am in the hilton honors bullcrap so they offered me 3 nights and 4 days at a suite at their timeshare property for 49 bucks and 40 more if it is on the weekend. That is the entire stay, at most for 3 nights together is 89 bucks as long as you agree to look at the timeshares and have somebody throw a sales pitch at you (I know how that goes...). It is just me, my girlfriend and a timeshare guy on our own. We have to go to that to get the price but I don't know. I have the money to stay anywhere but this seems like a really good deal. I am just wondering if anybody knows where it is, and if I should take it or not??? The timeshare meeting is only 2 hours. They said it was brand new, does anybody know where they would be?

A) I think there are 3 Hilton time share properties in Las Vegas - I would find out exactly which one. Club at the Flamingo Club on the strip Club at the Las Vegas Hilton I stayed 1 night at the Grand Vacations property at the Hilton and it was very nice - 1 bedroom suite/full kitchen etc. It is kinda far from the strip - and a cab cost me 20.00 to get to the MGM Grand I still think its a really good deal - just as long as you are not sitting in some workshop for 8 hours a day. Usually they take up about 3 hours of your time - and of course its high pressure to get you to buy.

Do you have to claim timeshare property on your income taxes?

Q) I just purchased a timeshare property with my sister who is still in college. I'm just wondering if her name is on the deed if she will have to claim that somewhere on taxes this year?

A) Not until it's sold, or if you rent it out and make money from it rather than using your time yourselves.

How can I get rid of timeshare property fast? Is the foreclosure damage the same as on a house?

Q) I'm in danger of going into foreclosure on some timeshare property in Florida. Will the credit damage be just as bad as losing a house?

A) Depends on how the timeshare was sold to you - it could just be an account on your credit that will show delinquent and maybe repossession. Since you only own a portion of the property not the property itself it will not be a foreclosure. You may see collection activity and this will DAMAGE your credit rating. Try to unload it - then negotiate with the creditor to take a settlement if you are upside down. Good Luck,

What can I do to get rid of a Timeshare Property?

Q) I have a TImeshare Property in N.C., I have tried to sell it and rent it, with no luck, but still have to pay the monthly maintainance fees, if I dont pay them, it will be a liability on my credit.

A) The best places to sell a timeshare are through timesharing today www.tstoday.com or through ebay. You can also donate it to a charity. One such site for donation is giftsforsight.org There are lots of con stories about people paying big fees to sell and having nothing happen. Some timeshare properties will rent it for you.

Should I buy a timeshare property from Interval International?

Q) I am thinking of buying a timeshare and I was wondering if anyone owns from Interval International. How much did you pay? Was it worth the money? And how easy is it to exchange for different locations around the world? Does anyone else own from a different company?? Please share your stories. Any help would be great. Thanks!

A) I really don't like the idea. Given the great lengths they go to sell these things, I just don't see how they can be so great. I'd rather pay for a vacation each year in a location of my choice and go online and get a great deal. I don't want to invest money in something like this. But that's just me!

how can I dispose of my Timeshare property?

Q) I have been unable to sell my timeshare , I need to get out from under it, what can I do?

A) Sell it at discount? Try eBay.

what is the worst that can happen if you default on timeshare property?!?

Q) I owe for Fairfield property I do not want! (and can't afford)They do not resale or buy it back!

A) Isn't that when you get dragged out by your toes, hoisted over a street light and whipped silly? Take your contract to a lawyer and explain the details. Check out one of these links, in case they might be useful: Good luck.

Own timeshare property but delinquent on maintenance fees & in process of foreclosure.?

Q) What is the foreclosure process for this situation? Received notice but it sounds like i still have option to pay debt, and other option is that they will sell as trustees sale. confused need advice.

A) i'm sure you still have time to pay the debt i think up untill they sell it.Call and find out