What Happens If You Stop Paying Timeshare Maintenance Fees?
What happens if I stop paying timeshare maintenance fees or can't pay the fee? If you don't pay the fees on your timeshare or walk away from your fees you would be breaking your contract with the vacation resort you own through.
The consequences if you stop paying the maintenance fee on your timeshare, or for not paying your fee on time could be as severe as late charges, being sent to collections or even worse if your payments stop for a long period of time.
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The 5 main consequences if you stop paying your timeshare maintenance fees are:
- Late notices in the mail
- Late fees and penalties
- Phone call reminders
- Sent to collection agency
- Credit score Affected
If you stop paying the maintenance fees on your timeshare it can cause big problems for you later on unless you get out of your contract legally.
If you stop paying your fees for a long period of time, these consequences begin to increase in severity the longer the timeshare fees are left unpaid to the resort you own with.
If you own through Wyndham and want to stop paying timeshare maintenance fees or can't pay your fee then you're in luck! Wyndham Resorts offers the Wyndham Cares program for this very reason!
The Wyndham cares program gives owners thinking about not paying their maintenance fees alternatives to breaking their contract with the resort if they are unable to pay their maintenance fee, such as the Ovation program, rewards program, financial assessment and other options.
While you probably won't get sued if you stop paying maintenance fees on your timeshare, it is possible to be sued if you don't pay your maintenance fee so it's really not a good idea to stop paying your timeshare fee if you can help it.
The contract you have with the resort is legally binding, which means that if you stop paying the maintenance fees on your timeshare, you could find yourself in a lawsuit, at which point your wages could be garnished, a levy put on your bank account or worse can happen!
The best thing that you can do is not to stop paying your timeshare fees, but your fee to the resort on time if at all possible to avoid the consequences of not paying your fees. If you absolutely can't make your maintenance fee payments on time, there is a solution so you don't have to stop paying your timeshare fee payments.
Rather than stop paying your timeshare maintenance fees and suffer the consequences of a default, you can rent your week out on the years you don't use it instead to cover your fees!
If you rent your unused week out you have the money to pay your maintenance fee on time so you don't have to stop your maintenance fee payments, and you still have the freedom to use your timeshare to vacation at your favorite resorts whenever you like!
Call 1-800-675-8798 for more information about how to rent your timeshare out to earn income to cover your timeshare fees so you can keep paying the maintenance fees on time and enjoy using it when you want to!