Ask RedWeek

Maintenance Fees - walking away from TS

Feb 16, 2014

Hi there my husband I were stupidly persauded to purchase a timeshare back in August 2012 in las vegas. We live in Australia. When we returned home we redrew on our homeloan to pay the remainder of the Timeshare loan. As I understand all we have left to pay now is our yearly maintenance fees, however we did not pay last year and have not been contacted by the TS company for this payment. We want to walk away from the whole thing - we don't want anything to do with this TS anymore. What are our options to 'opt out' if we have not been contacted by the TS company? I have tried to log onto our online services account, however none of our details seem to work on the website. The account number doesnt seem to be 'open'? Would appreciate any advice you may have on this.


Kim M.
Feb 17, 2014

Walking away from a timeshare contract is like walking away from a home mortgage contract and it can affect your credit. They may have not yet contacted you for non-payment of your maintenance fee but be assured they will sometime in the future.

Unless you own at a high end resort (ie: some Marriotts, some Hiltons, Disney, 4 Seasons and others of the same caliber) then your timeshare is more than likely worth little on the resale market.

Since it's paid off I suggest you contact the resort to see if they will take it back (most resorts won't but it's worth a try). If they decline I suggest you pay your maintenance fee that's in arrears and either use your timeshare yourself, rent it out, exchange it or offer to give it away in Redweek's Bargain deals.


R P.
Mar 07, 2020

Hello- I know this happened six years but wondering what the outcome was?


whmis

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