 Timeshare Problems!
What is the name of your state (only U.S. law)? My timeshare is in Nevada. I am a UK resident though, and currently in Australia, just to make it more difficult. Basically, I foolishly bought a timeshare in Las Vegas in Feb this year. I and my partner quickly discovered we could not afford it and just want out, knowing we wont get much and prob make a loss if we sell it now.
We have written to the resort mortgage people, via email and recorded mail expressing our views to terminate and they responded as follows:
"Please reread your contract. You had five days to cancel the contract from the date you signed it. This is a legal and binding contract thru the state of Nevada. It is a mortgage. If choose not to pay, you are subject to late fees, and possible legal fees due to foreclosure. If you did not read or understand the contract, you absolutely should not have signed it. I am sorry, but we are not able to cancel your mortgage contract. "
So - what I want to know is, what kind of trouble could I be in by not paying this? They automatically take the money from my credit card every month which is another problem I have to deal with. Any advice would be amazing right now.
Thank you.What is the name of your state (only U.S. law)? | 
06-29-2009, 08:35 PM
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