Can a resort in another country sue you in America?

Can a collections company in the US collect on a debt ?

If you quit paying maintenance fees your week will go into foreclosure affecting your credit negatively. Try to use it, trade it or sell it for $1 and offer to pay the closing fees, that’s about the best you can do to rid yourself or your albatross. Try perusing the different timeshare ad sites to see what a comparable week has sold for. When you sign on the dotted line of any contract the terms must be met or there will be consequences.

Any body can sue you. They merely have to file against you in your home country. They can also just hire a collection agency in your home country, that can come after you. This is probably what they will do in fact.

Timeshare owners incur an annual maintenance fee. Fees may be incurred more frequently due to special assessments. As a timeshare owner you should be budget for these fees.

Timeshare maintenance fees are used by the HOA or developer to pay for the upkeep needed to keep the property in a desirable condition. As with any property, such as your home, it costs money to keep the property maintained and safe. Maintenance items like carpet, paint, and roof repairs are typically funded by owner maintenance fees.

The annual maintenance fee is established by the timeshare management company, either the developer or the HOA. Fees are typically higher with an HOA. The developer typically wants to keep the fees low in order to keep costs low for the initial buyers.

You should expect to pay at least $400/year in maintenance fees. $400 is the average. You could pay more depending on the property, and depending on what is defined in your contract. Review the contract thoroughly to understand your financial obligations.

You should be prepared to pay more in special assessment fees. Special assessment fees can be levied at any time. Unforeseen events can lead to special assessment fees. A common example of an unforeseen event is hurricane damage that exceeds the payout of the insurance company.

If you understand your costs, and budget properly, you should not have any problem paying the fees. Maybe you cannot pay the fees due to unforeseen financial events. Typically you can quick claim deed the property to the timeshare management company if you can no longer afford the fees. Donating your timeshare to a charity is another popular option. If a quick claim deed offer is not accepted, and donating does not pan out, then you can sell your property for one dollar and have the new owner assume the maintenance fees.

Never pay an upfront fee
There are many less-than-reputable individuals and companies who will contact you with guarantees of selling your timeshare for an upfront fee. Don’t do it. The “broker” has no motivation to sell your timeshare after they have collected the up-front fee, and you will probably never receive a return on the fee due to a lack of sale.   The only exception to this rule is paying a fee to list your timeshare with a reputable company like Ebay or Craigslist.

Most timeshares sell on the resale market for up to 50% of the initial price
Be prepared to take a loss when you sell your timeshare. Making money on the “investment” of a timeshare is the exception to the rule. The value in a timeshare is the vacation, not a monetary return. Research what other comparable weeks and locations are selling for to get a feel for the market. The price you ask may be higher than what is available on the market, or it may be lower if you are looking for a quick sale.

You will need to cover the difference
If you have a timeshare loan then you will need to be prepared to write a check for the difference of the sale price and what you owe.  Don’t have enough cash on hand to cover difference? Rent the timeshare until you have paid down the loan.

Caveat Venditor – Seller Beware
The timeshare resale market attracts scammers on a global level. Walk away if you sense a scam. Always give yourself 24 hours to think before exchanging any money or signing any contract.

Finding an online company to sell your timeshare is the first step. The most important rule when dealing with any company that wants to “help” sell your timeshare is to never pay an up front fee. Paying upfront fees are the most common mistake eager sellers can make.

Make sure to list as much information as possible when selling your timeshare.

• Week(s)
• Maintenance fees
• Recent repairs
• Amenities or any other attributes that can make your listing stand out

Caveat Venditor, Seller Beware.

Timeshare listings are attractive to scammers looking to make some quick money. Be cautious, but polite. Again; It may be difficult, but it is not impossible. Keep a positive attitude and persevere. Where there is a will there is a way!