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I own two timeshares with high maintenance fees. Can I just walk away from them?

Ken Little
StarNews

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 bbbinfo@coastalcarolina.bbb.org

RELATED LINKS:

Does a homeowners association have the power to foreclose on a home like a bank does?

How do you appeal New Hanover property tax values and what documents are required?

User-contributed question by:
Ed Washa

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One Response to “ I own two timeshares with high maintenance fees. Can I just walk away from them?”

  1. On May 20, 2013 at 2:45 pm Timeshare Advocacy International wrote:

    Unfortunately you can’t “walk away” from a timeshare, but there are resources available that can help in canceling timeshare contracts so you no longer have to pay the maintenance fees. Timeshare Advocacy International has helped thousands of people out of their timeshare contracts. Visit our website http://www.timesharecancellation.com for more information.



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