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What Happens If I Stop Paying My Timeshare?

Timeshare ownership combines real estate fees and travel expenses, leaving some owners in such financial hardship that they question whether or not they should continue paying for it. If your timeshare has become an unexpected burden, you may be considering the same.

Unfortunately, there are consequences if you stop paying for a timeshare. The good news, though, is there are ways to avoid those consequences and still reach financial freedom. So in this article, we'll answer three questions:

  • Can I Walk Away From My Timeshare Payments?
  • What Happens If I Abandon My Timeshare?
  • What Are Other Options In Getting Rid Of My Timeshare?

Can I Walk Away From My Timeshare Payments

A timeshare owner is responsible for an assortment of annual fees. From the mortgage loan payments to the often hidden cost of maintenance fees, it seems to always be one more bill after another. 

It's no wonder so many owners want to walk away from their timeshare payments. However, if you abruptly stop paying, you will likely face extreme financial distress. See, unbeknownst to most owners, their agreements are life-long. Furthermore, failing to pay your fees can result in legal issues. 

Why You Shouldn’t Walk Away From Timeshare Maintenance Fees

Many timeshare owners believe they don’t have to pay maintenance fees and special assessments after paying their mortgage off. That’s not the case. This annual maintenance fee is how these resorts turn a profit every year. If you attempt to stop paying this timeshare obligation, the resort will do everything they can to collect these payments from you.

What starts with a barrage of phone calls soon escalates to collections companies if you still refuse to pay. The financial burden worsens as you now risk foreclosure and possible legal action. To truly free yourself from a timeshare, you need to find a way to cancel the purchase agreement.

Loan Payments vs Annual Maintenance Fees

There are often two culprits behind the financially distressed timeshare owners. The excruciatingly high costs of timeshare mortgage payments and the annual maintenance fees. You may be wondering what these expenses are, so here's a breakdown of each:

  • Timeshare Mortgage Loan Payments: For those with a deeded timeshare, you likely took out a loan to cover the purchase cost. Like any other mortgage loan, this loan has a term length and interest rates.
  • Annual Timeshare Maintenance Fees: These fees are for regular upkeep at the resort, including cleaning, landscaping, building repairs, upgrades, and other expenses. Collected on an annual basis, the cost of these maintenance fees tends to rise each year.


Adobe 417411234 Leaving

When you walk away from a timeshare agreement, you forfeit your vacation ownership rights and leave yourself open to legal issues. Abandoning your ownership breaks an agreement and puts you at risk of foreclosure. It also may drag your credit score down for up to seven years.

Before you stop paying the annual fees, you need to consider the results of that decision. To fully understand what happens when you abandon your timeshare, here are a few of the most frequently asked questions we receive regarding the subject:

Will The Timeshare Company Sell My Timeshare

Essentially, yes. If you outright abandon your timeshare and refuse any further payments, the resort will make collections efforts, and you may face foreclosure. The resort then turns around and finds another buyer as a replacement. Be aware that while the timeshare developers get off scot-free, your legal issues could linger for years to come.

Can I Get Sued For Not Paying My Timeshare?

You can end up in court if you stop paying the fees associated with your timeshare. Failing to pay your debt to a timeshare company will have you sent to a collection agency and could eventually place you in foreclosure. However, not all companies push for legal reparations and instead will constantly harass you with collection efforts.

Does Canceling a Timeshare Affect My Credit

A timeshare foreclosure can have a significant impact on your credit. Not only will your credit score likely decrease, but foreclosures can stay on your credit report for up to seven years. This credit status makes it difficult to qualify for a future mortgage or any other form of credit without high-interest rates.


If you want to get out of your timeshare agreement without damaging your credit score, the last thing you want to do is stop paying for it. Getting collection agencies involved in your agreement is a quick way to damage your credit score.

Instead, you will need to find a legal way to get rid of your timeshare without having your credit suffer. We've outlined several great options below.

How Do You Get Rid of a Timeshare That is Not Paid Off?

Adobe 158422782 5Options

Are you tired of dealing with the hassle of timeshare companies and paying maintenance fees? If so, you're one of many owners looking for a way out. Don't just up and quit, though, or you'll risk financial turmoil. Instead, check out these five great options to get rid of your timeshare:

  1. Give Your Timeshare Back To The Resort: The first option is to see if the resort you purchased it from will take it back. If you've paid off your mortgage but want to get rid of the pesky maintenance fees, you may be able to negotiate your way out of the agreement. Not all timeshare companies are so accommodating, but it's worth trying.
  2. Attempt To Rent Out Your Timeshare: Typically, the timeshare industry prefers owners to keep their agreement. Hence, they often recommend owners rent out their units to cover the various fees. While it sounds good in theory, renting out a timeshare is quite challenging.
  3. Offer It On The Timeshare Resale Market: While it is possible to sell a timeshare to free yourself of the treacherous maintenance fees, don't expect to make a profit. Truthfully, don't expect anything in return. Many owners are so eager to get out of their imprisoning agreements that they're willing to sell for as little as a dollar. 
  4. ​​Timeshare Cancellation Companies: Timeshare Cancellation Companies: A timeshare exit company is an excellent option for those misled or deceived into an expensive purchase. These companies help you get out of the grasp of your resort and reach financial freedom. However, be wary of timeshare scams and only work with credible cancellation companies, such as Wesley Financial Group, LLC.

Can I Donate My Timeshare to Charity?

Donating a timeshare to charity is sometimes easier than selling it. Plus, you get to feel good about the property going to a worthwhile cause. Many charity organizations will accept timeshare donations of all kinds. However, some organizations do not take them due to their annual financial obligations. Charities want to ensure they make a profit from the donation, so timeshares with little resale value are unlikely to get accepted.

If you find a charity willing to accept timeshares as donations, be sure to inquire about what that process would fully entail. While it may seem easy, nothing with timeshares ever is.

Bottom Line

Many people want to stop outright paying their timeshare fees. But here's the catch, if you stop, you'll end up in an even worse mess. So, instead, you should inquire about working with timeshare exit professionals to help steer you in the right direction.

Wesley Financial Group, LLC* is home to many cancellation experts who are happy to help take a look at your situation. If you need some advice, reach out to them today!

Wesley Financial Group, LLC, and its affiliates, successors, or assigns are not lawyers or a law firm and do not engage in the practice of law or provide legal advice or legal representation. All information, software, services, and comments provided on this site are for informational and self-help purposes and not intended to substitute for professional advice, legal or otherwise.

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