Timeshare Foreclosure

[fbonil]

What is the name of your state (only U.S. law)? Florida
I'm a Canadian citizen only, and do not have a US resident. I purchased a timeshare in Florida, and now, I cannot afford it anymore. As I am not a US resident or citizen, what are the implication of a timeshare foreclosure to me? Will this affect my Canadian Credit? Will Collectors try to hassle me forever? I am from the Province of Quebec. Are the different laws makes it possible for them to come after me?

THank you for the help.

 

[stf]

timeshare foreclosure for canadians

Hi ,I'm word for word in the same situation today as you were in 2009. How did you settle this situation? Did everything go alright for you in the end? I'm also from Quebec and going straight for a foreclosure on this timeshare in Florida but I have no idea what I'm getting into...seems to be a pattern here! Anyhow, Any info on your experience would be greatly appreciated. Thanks and hope to hear from you. Regards.

 

[FlyingRon]

Even being delinquent in making the payments will result in damage to your credit. The big three credit bureaus operate in both the US and Canada and the info will cross the border with no problem.

Note, it's quite possible that there is NOT going to be any foreclosure. The market for resale of timeshares is minimal and the maintenance fees are a liability. Most likely they'll continue to accumulate debt to you for as long as you don't pay them.