what are the rammifications of allowing my "points" timeshare through

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pandabear

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wyndham vacations resorts to forclose? I've had it for just over a year. I pd 5k down, and i owe like 17k yet. It's a ten year loan i pay about 275 a month on, plus maint fees of 75 a month. I have my own home...own two decent cars..making one car payment and a mortgage pmt of course...i don't feel letting my credit score drop will hurt me...as I pay everything else, and don't plan on any big purchases...plus i have credit cards i can use already..i am not concerned about interest going up on them. I do not want this timeshare at all. Please help.
 
Your credit is destroyed, you will be sued
You signed a legal contract and lender is entitled to repayment
 
That's an issue, yes you signed a legal doc and a promise to pay... you have to look at your docs depending on where you live you might have an out. Some states allow for a 3 day cooling off period from when you signed. You should of been given a notice if you're in one of those states. If you weren't given that you can back out due to that. If not I suggest trying to rent/sell your points on sites such as tug2.net which is a time share users group site which should give you the best shot.. or you can try and sell or rent on sites such as ebay
 
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