Can timeshare ruin your credit?

Much like any other major financial purchases, yes, timeshare can ruin your credit if you get behind or miss recurring payments. After a timeshare owner misses a payment, a collection effort could be made by the timeshare management company. If you fail to communicate back with them, they could take the collection effort an extra step by reporting you to a credit bureau or reporting agency. This is when you will start to see a major decrease in your credit report, score and history. This could affect your ability to make a major purchase in the near future. 

Missing payments on your additional fees is just as bad as missing payments on your monthly mortgage loan. This is something that a lot of timeshare owners don’t think to take into consideration. Since these fees only come around once a year, they don’t seem like a high priority. However, missing a maintenance payment can do just as much damage to your credit. 

When an owner misses a maintenance fee payment, not only are they putting their financial credit into risk, they’re also puting foreclosure on the table. Since resort developers treat these fees with such high importance, they could take you to court in order to foreclose on your unit. This, in turn, will hurt your financial ability moving forward. 

How many points could my credit score drop?

In a study done by, it was found that in some cases the credit scores of timeshare owners who missed payments dropped over 100 points. This obviously could differ depending on your circumstances, when you made previous payments and the amount of which those payments were. 

Another key factor to a timeshare ruining your credit is foreclosure. This will negatively affect your credit history more so than your score, though also reports at least a 100-point decrease for any timeshare owner that has their unit foreclosed on.  

How does timeshare foreclosure work?

When you miss payments over a period of time, it is usually written into an agreement that the resort developer can go to court to foreclose on your timeshare unit. This is the result of you failing to agree upon the terms you signed on an agreement when you purchased the timeshare. 

Purchasing a timeshare is like buying a house. When you take out a timeshare mortgage loan, you want to be sure you stay on schedule with your payments so there are no long term effects. 

This is why a lot of previous timeshare owners suggest reaching out to contact your timeshare resort if you know you won’t be able to make a payment. If you’re lucky enough, some management groups may be lenient and try to help you if you’re struggling to make payments. However, in the long run, this is not a great option, and most places do not have patience to do this month after month. If you’re in a tough financial situation, a better option for you would be to contact a timeshare exit company. 

How do I stop paying my timeshare without hurting my credit?

If you’re tired of making payments on a timeshare you never use, you’re in luck. There’s a better option for you – a timeshare cancellation company. The reason why this is a better route to take is because these companies specialize in getting your timeshare agreement terminated. By this taking place, your name is no longer on the company’s radar and you may no longer be obligated to pay them money. This gives you the freedom to think about future vacations in a different sense. Imagine being able to go wherever you want, whenever you want with no terms and conditions attached. Plus, if you work with a recognized timeshare exit company like Wesley Financial Group, LLC, you will receive timeshare debt relief, and possibly even a refund. 

So now that you’ve realized there’s a better option out there besides skipping payments and drowning yourself in financial pain, let’s take a look at what you should consider when choosing a timeshare exit company. Here are a few of these attributes that you will want to look for in a company:

  • An experienced staff 
  • Proven client success 
  • Industry tenure
  • A 100% money back guarantee

Wesley Financial Group, LLC is one company that all of these aspects apply to. With its industry experience and knowledgeable employees, it’s hard to pass up. This is not to mention the money back guarantee, as well as credit repair services it offers post-cancellation. 


Owning a timeshare can ruin your credit if you fail to make payments or choose to try and walk away from your unit altogether. Most timeshare horror stories usually end in a foreclosure, where the owners kept avoiding the inevitable and didn’t pay their mortgage loan or annual fees. This is why it’s so important to do your research before buying a timeshare. You can’t go into a sales presentation with an open mind or before you know it, you’ll find your credit score crippled and your ability to make future purchases nonexistent. 

Try to avoid selling your timeshare as a solution. There are very few timeshare owners now that chose to be in their current situation because they wanted to buy someone else’s timeshare. It’s important to know your options, like contacting an accredited timeshare cancellation company. 

Wesley Financial Group, LLC is a timeshare cancellation company with a knowledgeable exit team who’s passionate about how they can help their clients. Their 100% money back guarantee makes it so that if they’re unable to terminate your timeshare, all of the money you spent goes right back into your pocket. The last thing you need in order to fix your debt is to lose money for no apparent reason.

If you were misled or lied to during the purchase of your timeshare unit, reach out to Wesley Financial Group, LLC. Be sure to visit their website for more information about how they can help you leave behind this financial stress.