Timeshare Credit Repair

B

Brown92

Member
Timeshare debt and delinquent payments can have a serious impact on credit scores, especially if the account ends up in collections or is charged off. For many people, falling behind on timeshare maintenance fees or walking away from the contract leads to long-term damage on their credit report.

In cases like these, it’s common to see negative entries such as charge-offs, late payments, or even lawsuits, depending on how aggressive the timeshare company or collection agency becomes. Some companies advertise services specifically for timeshare-related credit repair, but it’s hard to know which ones are trustworthy
 
Getting out of my timeshare was harder than getting divorced. The late payments tanked my credit score by 80 points. I tried one of those credit repair companies that specialize in timeshares... total scam. Took my money and ghosted.
 
For those curious, charge-offs and collections from timeshare companies hit your credit just like credit cards do. It’s not vacation debt .......the bureaus treat it seriously. Try disputing the entries yourself first before shelling out to a third party service.
 
I walked away from a Wyndham contract 5 years ago. They hounded me with letters and threats, then sold the debt. Ended up settling for 30 cents on the dollar but my credit is still recovering. These companies don’t play nice they will sue.
 
So many credit repair firms seem shady af. If they’re asking for upfront fees and promising to delete legit debts, run. The only one i’ve ever seen work transparently was Lexington Law and even that was slow and not cheap.
 
My mom got talked into one of those cancel your timeshare now! services. They charged $4K upfront and ghosted. She ended up hiring a consumer attorney, who did more for her credit than the repair folks ever did.
 
Honestly these companies know exactly what they’re doing trap people with free stays, then lock them into contracts that are impossible to break. It’s predatory. And then they report delinquencies like it’s your fault.
 
Some of the timeshare exit companies work, but many just send a letter and hope for the best. You’re better off hiring a local attorney who understands consumer protection laws. Bonus is you avoid the whole credit repair circus.
 
Check out CreditBoards and MyFICO forums before you use any paid service. Lots of DIY templates and success stories. Sometimes a well worded goodwill letter does more than hundreds spent on experts.
 
I got out of my timeshare through a deed back program. Yes, it tanked my credit temporarily but it was better than paying fees forever. I’ve slowly been rebuilding using secured cards and rent reporting services.
 
It’s wild how something meant to be a vacation turns into a credit nightmare. Maintenance fees went up every year and when i couldn’t pay, they hit my Experian report. Zero warning........never again.
 
I teach credit repair workshops .....80% of the worst cases i see involve medical debt or… timeshares. People underestimate how serious it is. If it’s in your name it will haunt your credit report.
 
Not to be harsh but if a company claims they can delete legit negative info from your report, they’re lying. Credit repair isn’t about magic erasure it’s about accuracy, negotiation, and time.
 
I’m two years into trying to rebuild after defaulting on a Diamond Resorts timeshare. Got sued, settled for $6k and now it’s still showing on my credit. Ugh......anyone know if debt settlement hurts less than charge-offs?
 
Try using a tool like Credit Karma to monitor if the timeshare debt is being reported to all three bureaus. Sometimes they hit one but not the others ...can give you a little strategic advantage when applying for new credit.
 
I just stopped paying my maintenance fees 8 months ago… still no collection activity, but I’m bracing for impact. If anyone’s been in this limbo stage, how long did it take before it hit your report?
 
Shout out to anyone trying to escape Westgate.... their collection tactics are next-level aggressive. They called my job once. Credit repair wasn’t even my first concern just getting peace was.
 
IMO the timeshare model is dying and this credit mess is one reason why. Once people realize how damaging these contracts are, i think more legislation will follow. Until then stay alert and read the fine print.
 
I feel for anyone dealing with this. Timeshare contracts are like financial black holes. My parents thought it was an investment and now their credit is shot and they can’t even give it away.
 
Got stuck with a Hilton timeshare after my divorce. Missed 3 maintenance payments and bam...collections call every week. They even sued me for the balance. Took 2 years and Lexington Law to finally get it removed from my report. Lesson learned: never sign a timeshare when you're in love
 
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