Business Debt, Collections Timeshare maintenance in collections

[Melvin Hope]

Jurisdiction

California

I stopped payment for past 2 yrs on annual maintenance fee for a vacation club timeshare membership. Received a letter 2mths ago from the club saying that if I did not pay the fees my MEMBERSHIP IN the club would be terminated (exactly what I would like to happen) and my membership account sent to collections. My credit score would be affected but what other legal ramifications would occur and for how long?

 

[adjusterjack]

Terminating your membership won't terminate your debt or any ongoing fees that accrue.

You can be sued. The time share company could get a judgment, garnish your wages, levy your bank account, attach non-exempt property, the judgment could become a lien on any real estate that you own or will own, it could adversely affect employment and financing opportunities. Judgments are good for an average of ten years in most states, longer in some.