What Happens If I Just Stop Paying My Timeshare?

What Happens If I Just Stop Paying My Timeshare?

When you set-up auto-pay for any monthly payments, sometimes you’re in shock when you check your bank account and wonder why your account is lower than you thought. This can happen on a much larger scale to timeshare owners when it comes time to pay their monthly dues or annual maintenance fees

This is why the temptation of halting all payments towards their timeshare begins to creep into their minds. It’s a property they rarely ever visit, so what’s to lose? Well, unfortunately, there’s a lot at stake if you just decide to stop paying for your timeshare. It should also be noted that as a timeshare owner, you’re the sole person responsible for halting any payments on your timeshare. No one else will be held accountable but you. 

Why are timeshares considered high risk/low reward?

Before signing on the dotted line, most owners don’t ask about whether or not their timeshare resort reports to a credit bureau. This is vital information. If your timeshare management group does report to a credit reporting agency, chances are your purchase is a high risk, low reward. Since timeshares are considered to be in a different type of real estate category, they rarely help your credit, but easily hurt your credit. If you miss just one monthly payment, your timeshare could report your failure to pay to a credit bureau which will in turn knock your score down some points. Though it could be easy to bounce back from, in the long run, it seems it could be an unnecessary evil. 

Could My Timeshare Get Foreclosed On?

Yes, though it takes a lot of steps to get to that point, it is very much a possibility. Foreclosure is nothing to joke around about. A lot of owners tend to hear about it but never think it could happen to them. It’s a long road to get there, but if you’re the type of person who believes in the phrase “out of sight, out of mind,” it could easily be something you need to be conscious of. Here’s a look at a few of the stages that your timeshare will go through en route to a foreclosure. 

The First Effort To Reach You

After you failed to make one payment, a representative from the timeshare resort will reach out to you in hopes that you’ll ask for forgiveness and send your payment right away. This collection effort usually takes place after the late-payment period (varies depending on resort company) has passed. If you continue to duck calls from your timeshare company, another attempt to get in touch with you will be made. 

The Final Attempt To Secure A Payment

By the time you’ve made it to this phase, the timeshare company has likely reported you to a third party collection agency. Here, you will receive calls, letters and emails demanding you make a payment to bring your account current and back to normal. These forms of communication will likely state that should you fail to pay the resort within a certain time period they will take legal action. 

The Foreclosure Of Your Property 

After numerous cracks to try and get in touch with you, the timeshare company has finally had enough. In this final stage of the process, your management company may take legal action by filing a formal request of foreclosure against you in a court of law. While most timeshare owners tend to think this doesn’t happen, it’s very much an option since timeshares are treated like actual real estate in some states. It should be noted, however, that this process could take longer or shorter depending on the location and/or circumstances of your timeshare. 

Can A Cancellation Company Relieve My Debt?

What Happens If I Just Stop Paying My Timeshare?

Yes, if you’re fortunate enough to become qualified with a legitimate timeshare cancellation company, like Wesley Financial Group, LLC, debt relief could be in your future. Though it is not guaranteed, Wesley Financial Group, LLC has been able to relieve debt for a numerous amount of families in the last year. 

It’s vital to remember that when it comes to the cancellation of your timeshare, it’s hard to put a price on the freedom that awaits you. While some consumers are uneasy to spend money on their timeshare termination, Wesley Financial Group, LLC’s money back guarantee gives its customers peace of mind. If your timeshare isn’t cancelled within an agreed upon period of time, you will receive a full refund of your payment. 

How Long Will It Take To Terminate My Agreement?

Successfully terminating an agreement is more than likely not going to happen overnight. But, if you’re able to get in touch with a company like Wesley Financial Group, LLC, you will receive transparent support. You will be given a timeframe in which you can expect to no longer have a timeshare. 

There are a few factors to take into account when trying to predict how long it will take to terminate your timeshare agreement. Here are three questions to think about when it comes to the time it might take to cancel your timeshare:

  • What management group owns your timeshare?
  • How long has it been since you first purchased your unit?
  • In what state/country is your timeshare?

These three questions will help a timeshare cancellation professional to answer your question on just how long the termination could take. It’s crucial to remember that even though you might have had a similar experience to a past client, it could take shorter or longer to cancel your timeshare as opposed to theirs. 


Stopping payments on your timeshare might seem like an alluring alternative, but the side effects that come with it are detrimental to future finances. This is why every timeshare owner should investigate other alternatives like terminating their timeshares through a credible cancellation company like Wesley Financial Group, LLC. To learn more about Wesley Financial Group, LLC and their team of trained professionals, be sure to visit their website. Here you can learn about the multi-step process that will take you to timeshare liberation. To hear from previous clients of Wesley and their timeshare free success stories, be sure to visit the Wesley Financial Group, LLC YouTube channel. 

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