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Can't make payment on my timeshare. What are the consequences? Please need some help. (by R P.):

carlosp57 wrote:

Hi guys, Actually as a matter as fact the following story is not mine but my parents.

My parents went on vacation this year in may to Miami. While they were walking up by Collins Ave they got trapped by this bunch of salesmen-time-share cockroach. Of course they trapped with their lies easily because they spoke my parents native language; Spanish. Long story short, the salesmen made them sign-in the time share contract (in English) for 20k i guess and an annual maintenance fee of $650. After my parents came back home from vacation; home is Bolivia, they were eager about they new and first property overseas, and sadly i explained them that is pretty much a self-scam because they agreed on paying that ridiculous amount of money for something that they won't take the most out of it. Finally i convinced, and proved them that was economically unfeasible and advise them to stop making payment. As a consequence, they did call and email several times to Newport Beach Side office to let them know about their decision on no more payments. The TS company always told them that nobody but the sales manager was authorize to do so, and of course this guy was never at his office, so they proceed to take a message and my dad cell number but they never called him, EVER. Consequently, my dad canceled his credit card and finally payments were not made since then. 2 months after that we got a nice mail from USA; of course from Newport Beach Side office's saying that pretty much that my parents were in ''delinquent account'' status and proceeding a possible foreclosure. Well guys here are my question from this situation:

What are the consequences of no paying the TS (foreclosure)? Considering that my parents have B1/B2 tourist VISA is this situation going to affect their VISA's? Is this consider as a crime? i.e. Could they go to jail? Do i need to settle this situation with a lawyer or just let it past?

Please comments will be greatly appreciated.

Thanks

Carlos

All state laws require a timeframe to rescind a timeshare contract. You have to follow the guidelines stated in your CONTRACT in order to rescind within the proper timeframe listed. If the recission was not done within the proper timeframe then I'm afraid your parents now own a timeshare.

Did you go over the contract with a fine tooth comb in the presence of your parents ???? Many people never even look at the written contract after they purchase .... this is the biggest mistake they can do.