What happens if I just stop paying my timeshare?

What happens if I just stop paying my timeshare?

When consumers are not pleased with a good or service they usually try to return it in order to get their money back. If only the process of buying a timeshare was this simple. By the time most timeshare owners figure out that their property is not all what it was made out to be, it’s usually too late to back out. 

Sales presentations will paint beautiful pictures for prospective buyers, making timeshares seem like the most intelligent purchase they’ll ever make. After the increasing fees start to hit their accounts, they start to panic and look for the easiest way out possible. 

When owners discover that resale isn’t going to work and cancellation companies cost money, they begin to ponder about what would happen if they simply just stopped paying for their timeshare. While this may be tempting, it will only destroy your financial plans for years to come. 

The Long Term Effects Of Missing Payments 

While it may seem unimportant at first, missing a payment on your timeshare could hurt you in the future when you go to buy a vehicle, house, or other major investment. When you make larger purchases, you usually have to finance them which in turn involves a sales staff pulling up your credit history. This is when the representative will be able to see that in the past you’ve missed a payment (on your timeshare), and he/she might halt moving forward with the current purchase. 

However, it should be noted that this only applies to owners whose timeshare company reports to credit bureaus. Though, if your timeshare is foreclosed on by the resort developer, the factor of credit bureaus is out of play due to the fact that foreclosures are public record. 

All of this to say, weigh your options. If you feel you’ve been wronged by a timeshare company,  consider reaching out to a legitimate cancellation company as opposed to trying to evade payments. The process of missing payments is a long one and it’s not fun for anyone involved.

The Phases Of Not Paying Your Timeshare

Missing payments on your timeshare will consist of multiple phases that include collection efforts, communication efforts and eventually possible foreclosure. Let’s examine the phases that would occur should you completely hold off all payments on your timeshare. 

What happens if I just stop paying my timeshare?

The Preliminary Collection Attempt

We’ve all been late to pay something. There’s usually a reminder that comes and immediately triggers a response and settles everything. This is the same thing that happens when you miss a single payment on your timeshare. A representative from your resort developer will reach out to you in order to collect funds that will bring your account up to current standards. 

Depending on the timeshare company’s leniency, in this phase you can usually talk through forgiveness with a representative. In order to try and get back up to par, state any financial hardship you’ve had and they might try to work out a deal with you to help you get back on track at a reasonable pace. Should you, however, decide to keep avoiding their efforts to contact you, they will be forced to take further action. 

The Last Collection Endeavor

While it’s hard to say just how long a timeshare company will wait until they take one last chance at collecting money from you, it is usually within three months of your initial missed payment. For some people this is a rather scary wake-up call, but for others, it’s just another call they’re avoiding. It is important in this step to think about your timeshare’s mortgage loan (if applicable) and how high its interest rate has increased. This will only add to the mountain of debt you have. 

In this stage, it’s also very possible that the resort developer will reach out to a third party collection agency. This means that you could start receiving calls and/or letters from a different company on the timeshare’s behalf. This is another sign that your timeshare situation is escalating and the debt you owe on your unit is becoming a serious complication. 

If the third party collection agency and/or resort developer’s team is unable to get in touch with you, they may commence legal proceedings in order to take back what was originally theirs. 

Foreclosure On Your Timeshare

Once the timeshare management group is unable to reach out to you about your property, they may start the process of foreclosure. This begins with the resort sending representatives to court to take legal action and retrieve the property back in their name. Depending on the state that your timeshare property is in, a foreclosure process could take anywhere from six months to one year to complete. Once the court approves the foreclosure of your timeshare, the management company will regain possession of your unit and move forward with business as usual. 

The worst part of foreclosure is the stamp it leaves on your financing abilities moving forward. Like mentioned above, foreclosures are public record, meaning they can be accessed by anyone at any time. This tends to hinder buyers in the future when sales teams see their history and notice that a foreclosure is attached to their namesake. 


Though it may seem like a convenient option, not paying your timeshare will only put you further in a financial bind. It should also be mentioned that not paying the money you owe on your unit is completely your responsibility as a timeshare owner. Your credit score could drop exponentially. And should you reach the point where your timeshare is foreclosed on, your future financial plans could be greatly affected. This is why you should always consider a better alternative to getting rid of your timeshare– contacting a timeshare exit company. 

It is important to look for a credible cancellation company with a great amount of experience from professionals who know the ins and outs of the industry. One well-known legitimate cancellation company is Wesley Financial Group, LLC. To learn more about their process and how they can help you terminate your timeshare agreement, be sure to visit their website. 

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