Are you a Villa Group timeshare owner? It’s one of the top vacation clubs in Mexico with thousands of satisfied members. However, if you are part of the club and you are having financial problems, have you been thinking about not making your timeshare payments? Before you default on your timeshare payments, you should understand that you will face negative consequences. Your timeshare ownership contract is a legal binding contract. If you don’t make your payments, then serious repercussions will occur. There isn’t any good reason to default on your payments. Make sure you make your payments on time.
Your credit score will be affected, and you could face foreclosure as well. In fact, you may even become a victim to the Villa Group timeshare scams. Below we have created important information on what happens if I don’t pay my timeshare dues and payments. To keep yourself safe, read below.
What Happens if I Don’t Pay My Timeshare Dues?
To begin, it doesn’t matter what financial obstacles you are going through, you need to stay in good standing by making your timeshare dues. Like all financially binding contracts, a timeshare contract is a legal document that has to be followed. If not, you will face serious problems if you stop making your scheduled payments. Don’t make a major mistake that you will regret later. What is going on that you want to default on your timeshare payment responsibilities? You should try to get your finances organized before you default. If you miss one payment, then you will lose all your rights to your timeshare unit. You also need to pay your maintenance fees as promised, too. Any member that doesn’t pay their maintenance fees will have added interest and delinquent fees added to your bill. Stay on top of your financial responsibilities and avoid added stress and worry in your life!
Credit Score Issues
You may not know it, but your credit score is very important. Anytime someone wants to purchase a house or car and needs a loan will have to get their credit checked. If you default on your timeshare payment, then your timeshare debt will be sold to a collection agency, which will then affect your credit score. Collection agencies are ruthless. They will keep calling, then they can show up at your job and home. They are very persistent. Once you miss a payment, the provider will send a written warning, then they will call and email you. However, if you ignore their attempts, then they will sell your debt to a collection agency. Sounds like a lot of additional stress and anguish that can be avoided by being responsible. Remember, the whole point of a timeshare is to have a great space to enjoy quality moments with loved ones.
Victim of Cancellation Scams
Next, many vacation club members have unexpectedly become timeshare collection scam victims; did you know that? Usually, a cancellation scam will happen with a fraudulent cancellation company promising a timeshare member that they can cancel their contract, which cannot happen. The reality is, no one has the ability to cancel a timeshare membership unless they are still within the recession period or cooling-off period. This happens a few days after a new member signs their timeshare contract. Check your contract for details on the specific dates for your rescission period. These fraudulent cancellation company scammers will convince a timeshare member that they can cancel their contract, and they will collect a hefty upfront fee, then disappear without providing that member with any service. Don’t become their next victim. Keep your timeshare payments paid and always avoid third-party outside companies that may be scammers in disguise.
Is simple to understand that there will be numerous negative consequences that will occur if you stop making your timeshare payments. Didn’t you join a wonderful vacation club so you and your family could spend quality time together in paradise? Don’t risk that! If you’re interested in looking more about timeshare ownership, contact the Villa Group Resorts. Currently, they have 10 luxury resorts located in Mexico’s best destinations including Puerto Vallarta, Cabo San Lucas, Cancun, Islands of Loreto, and the Riviera Nayarit. Right now, all-inclusive travel deals are on sale to stay at the Villa del Palmar in Puerto Vallarta that has spacious accommodations, world class amenities, and attentive staff. During your stay, attend a timeshare presentation to learn more about the perks and benefits of membership. It’s a great way to prioritize quality time with your loved ones now and in the future, too!