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Timeshare fees

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Sazzie23
Sazzie23 Posts: 2,634 Forumite
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in Debt-free wannabe
Hi all

I'm thinking of not paying my now overdue timeshare fees as it will basically clear out any savings I have left..

I'm 3 years into a DMP and have always managed to find the money to pay for it, but now I'm on my own its very hard. Since my credit rating is pants anyway, what's the worst that could happen?

Anyone been in this situation?


no judgements on the wiseness or otherwise of buying timeshare please, and I can't afford to use it by the way, no way I could find flight money, never mind spends.
Debt -it's a fight that I'm winning, dealing with debt one day at a time.
Estimated DFD August 2018 - 2031 - now 2027 :T
Guide dog Tess, missing Scotland 2 years
DMP support no438.

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  • sourcrates
    sourcrates Posts: 29,040 Ambassador
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    Hi sazzie,

    From what I have read these contracts can be a bit of a nightmare.

    It appears you are locked into the contract for life, unless you can either surrender the timeshare back to the management company, who normally take a years worth of fees for the privilege, or you can try and sell it to someone else.

    A quick google brings up all kinds of horror stories, they can take legal action against you for breach of contract, it would depend which country the timeshare was in, as to how thiis may affect you.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • Scottishmummy
    Scottishmummy Posts: 1,176 Forumite
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    We had one years ago . One year the fees tripled and we had been so dissatisfied the last few times we had been we just ignored it. Eventually we got a letter stating we no longer were owners. Never appeared on our credit file.
    The person who moves a mountain begins by carrying small stones.
    Diet loss starting Sept 2019 0/80lbs:eek::o
    Proud to be No. 47 of the DMP mutual support club
    DFW Nerd #380. Proud to be dealing with my debt
  • Sazzie23
    Sazzie23 Posts: 2,634 Forumite
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    On further thought I've remembered I bought this with a friend who is now in ill health. It was always the plan for me to be responsible for payments and I took friends name off the timeshare some years ago when money got tight so that she would never be bothered by payment requests.

    Friends health is still very poor and I would hate for any rogue DCA to contact them looking for payment so I will somehow find the payment for another year.

    Thanks for replies.
    Debt -it's a fight that I'm winning, dealing with debt one day at a time.
    Estimated DFD August 2018 - 2031 - now 2027 :T
    Guide dog Tess, missing Scotland 2 years
    DMP support no438.
  • sourcrates
    sourcrates Posts: 29,040 Ambassador
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    We're is your timeshare based sazzie ?
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
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