Are you currently a timeshare owner with the Villa Group? If so, have you been thinking about not making your promised payments? If you are, then you should know that you will face severe consequences if you default on paying your payments on time as promised. The truth is, all timeshare ownership contracts are legally binding documents. You will face repercussions if you stop making your payments. You have to make your payments on time no matter what reasons you have for not making your payments.
Do you know that your credit score can and will be affected along with possible foreclosures? It is true. Also, you could become a victim of a Villa Group timeshare scam as well. We have put together detailed information if a timeshare owner doesn’t pay their timeshare payments. Read below to learn more about how to keep your finances in order and your investment safe.
Can I Stop Making My Timeshare Payments?
Firstly, it doesn’t matter what financial issues you are dealing with, you should always make your timeshare payments. Serious problems will occur for you now and in your future if you don’t make your regularly scheduled timeshare payments. You should take time to think about what problems will come your way before you make a huge mistake. You can try to reorganize your finances, so you don’t have to default on your payments.
The first thing that will happen if you don’t make your payment is you will lose all your vacation timeshare unit rights immediately. Access to the resort amenities and services that prompted you to invest in Villa Group timeshare will be suspended if you are not in good standing. Also, make sure you pay the maintenance fees as well. Timeshare owners that haven’t paid their maintenance fees will have added interest fees along with delinquent fees added to their bill along with the regular maintenance dues.
Credit Score Will Be Affected
Next, everyone probably knows that having a good credit score is very important. Anytime someone wants to buy a house or a new car, or anytime you apply for a loan, your credit will be checked and you need to have a good credit score to be approved. If a timeshare owner stops making their payments, then their debt will be sold to a collection agency, which will first affect your credit score terribly. In addition, the collection agency will also start calling you nonstop and they also can visit you at your place of employment and home, too. When you miss your timeshare payment, a written warning will be sent to you, then your provider will call you and also send you emails. However, if you ignore all the communication attempts, then they will file for a foreclosure. It simply isn’t worth the long term consequences and embarrassment.
Timeshare Cancellation Scams
Lastly, have you heard that some timeshare owners have become a target with timeshare cancellation scams? Sadly, this is true. Timeshare cancellation scam happens when a fake cancellation company makes promises to an existing timeshare owner claiming they can cancel their timeshare contract and membership. However, the reality is that no company or attorney can cancel your timeshare contract once the cooling-off period has passed. Also known as the rescission period, the cooling off period occurs a few days after the membership contract was signed. Don’t become their next victim by just making your timeshare payments on time. Instead, make plans to enjoy wonderful vacations with your loved ones enjoying the amazing accommodations, amenities, and services. In Puerto Vallarta, the Villa del Palmar is a top place to stay for families who want a comfortable space to create lasting memories together.
It is clear to see that many terrible consequences will occur if you stop making your timeshare payments as promised. The reason you joined a reputable vacation club with the Villa Group is to have wonderful vacations with your loved ones. Don’t lose that by not paying your timeshare payments! If you’d like to learn more, sign up to attend a sales presentation at one of the Villa Groups luxury resorts located in Mexico’s best destinations.