Posted by Mike (WA) on January 20, 2010 at 08:32:52 from (69.10.199.3):
In Reply to: Re: Florida timeshare posted by George Marsh on January 20, 2010 at 07:47:12:
Bad news on all fronts. Charities are too smart to take a timeshare- they wouldn't have any better luck converting it to cash than you have. And you can't just "walk away", because the yearly maintenance fee is a contractual obligation, and if you don't pay, many will sue you for the money!
Saddest case I've seen is a little old lady who bought one at a silent auction fundraiser at her church. It was in Atlantic City, an older hotel, no one even wanted to stay there anymore, much less buy a timeshare. She said the funny part was, she didn't even want it- just bought it to help out the church, thought she might give it to a grandkid (no one wanted it). If she was 10 days late paying annual fee, she got letter threatening lawsuit.
I looked at her financial situation, and she was "judgment-proof"- that is, no assets they could execute against, so their judgment would be worthless. I wrote to them, told them her situation, and if they wanted to sue, bring it on.
As far as I know, she never heard from them again.
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