If You Stop Paying Timeshare Maintenance Fees What Happens?
Timeshare FAQ
If you stop paying timeshare fees to the resort and walk away from your maintenance fee you would be breaking your contract with the vacation resort you own through.
The consequences of not paying your timeshare maintenance fees on time could be as severe as late charges, being sent to collections or worse if you stop paying the maintenance fees on your timeshare for long enough.
The 5 main consequences for not 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 walk away from your timeshare maintenance fees it can cause big problems for you later on unless you get out of your contract legally.
If you stop paying your timeshare fees for a long period of time, these consequences begin to increase in severity the longer the maintenance fees are left unpaid to the resort you own with.
If you own through Wyndham and want to stop paying timeshare maintenance fees 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, such as the Ovation program, rewards program, financial assessment and other options.
While you probably won't get sued for walking away from your maintenance fee payments, it is possible to be sued for non payment so it's really not a good idea to stop paying your timeshare fees if you can help it.
The contract you have with the resort is legally binding, which means that if you don't pay 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 pay your timeshare fees to the resort on time if at all possible. If you absolutely can't make your maintenance fee payments on time, there is a solution that does not involve stopping your payments or walking away!
Rather than not paying your maintenance fees and suffer a timeshare 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 fees on time, and 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 maintenance fees rather than stopping your payments and defaulting!
