I purchased a timeshare Someone told me not to pay for it, because you can't be sued for "time". Help!

Answer 1

In fact, you can sued anytime you sign a note agreeing to repay a loan and fail to do so. Most timeshares are even recorded in public records of the county in the state they are located, and they will ,in most cases, report it to the credit bureaus just as any defaulted note would be. Recently I have more and more of these showing up on consumers credit reports as "foreclosures". it's risky business, be careful!

Answer 2

Somebody is just jealous that you have the money to make such a purchase. C'mon now, what a timeshare is that you have gotten in with a group to share a piece of living space. Got nothing to do with time other than you have a "specific time to go there and it is all yours". If you don't pay for it, then you are no longer in with that group of people to share their various abodes"whether it be on a cruise line, or on the Alps, or in Tahiti(or whatever the package consists of)". You would have to make all those individual purchases yourself (can you say "I got to be a millionaire to afford it"?
That is what I understand how it works. No pay. no member. They will find someone else.

Answer 3

I believe that you have been misinformed.

When you purchase a timeshare, you sign a contract. By not paying for it, you are breaking your end of the contract.

The seller could sue you and probably win rather easily.

Answer 4

If you signed a contract to purchase a time share, you are buying a piece of this intity, you are responsible for paying what you agreed to or you will be sued.

Answer 5

Someone is well misinformed.
you have a legally binding contract that u must complete or they will sue u and win and your credit score and wallet will hurt for a long time.

Answer 6

Whoever told you that is an idiot. Don't listen to their advice ever again.

Answer 7

Don't listen to stupid advice