Q. I own two timeshares where the maintenance fees are getting too much to pay. Can I just walk away from these timeshares by not paying the yearly fees or will they pursue me? What to do?
A. The fast answer is no – you can’t walk away – especially if it is a “deeded” timeshare, said Kathy Graham, president/CEO of the based Better Business Bureau of Coastal Carolina.
“It would be just like walking away from a mortgage. Many people fall for one of the most popular scams out there where a ‘company’ will sell your timeshare — do not fall for this either!” Graham said.
There are ways to get out, Graham said, “but you will never get back the money put in.”
“At best, you can sign over the deed, a very specific process, and be free of the annual fees. You can always call your local BBB for more information and to find legitimate companies to assist,” Graham said.
The Conway, S.C.-based BBB of Coastal Carolina can be contacted at (843) 488-2227. Questions and inquiries can be directed to email@example.com
Date posted: May 17, 2013
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