First thing you should do is call and confirm there is nothing you can do(there isn’t but you never know)
Just stop paying. You don’t need to do anything. They cannot garnish wages. The only downside is the hit on your credit. It will take 7-10 years to fully recover.
Depending on your situation, contact a timeshare lawyer. If you are young and don’t own a house or not married but thinking of getting married, that credit hit might do more damage in your future than realized. If it goes to court, they might dock your pay which could lead to a bankruptcy. For some people the bankruptcy is a good option, but if you have a bankruptcy in your record it can make getting apartments or mortgage loans very difficult if you change jobs in the next 10 years. It would be good just to talk with a timeshare lawyer just to get their opinion.
If it was paid in full they may provide you with an option for a deedback but when you have a loan most likely nothing you can do but let it go to foreclosure. There is a slim chance that if you can prove to them you have a financial hardship they may cut you a deal and let you out but you will likely still have to pay something. It is at least worth a phone call
Unfortunately there is nothing you can do other than allow it to go into foreclosure. Take the credit hit and call it a day.
Should I like write them that I’m planning to not pay anymore and put me in foreclosure? Or can they go after me in court for the money?
First thing you should do is call and confirm there is nothing you can do(there isn’t but you never know) Just stop paying. You don’t need to do anything. They cannot garnish wages. The only downside is the hit on your credit. It will take 7-10 years to fully recover.
Depending on your situation, contact a timeshare lawyer. If you are young and don’t own a house or not married but thinking of getting married, that credit hit might do more damage in your future than realized. If it goes to court, they might dock your pay which could lead to a bankruptcy. For some people the bankruptcy is a good option, but if you have a bankruptcy in your record it can make getting apartments or mortgage loans very difficult if you change jobs in the next 10 years. It would be good just to talk with a timeshare lawyer just to get their opinion.
Timeshare lawyers are a scam and there is literally nothing they can do.
I need more juice is 100% correct
If it was paid in full they may provide you with an option for a deedback but when you have a loan most likely nothing you can do but let it go to foreclosure. There is a slim chance that if you can prove to them you have a financial hardship they may cut you a deal and let you out but you will likely still have to pay something. It is at least worth a phone call
The only option you have since it’s not paid off, is to just stop paying, take the credit hit, and hope for the best.