Are you one of our beloved vacation club owners with Villa Group Resorts in Mexico? If so, we hope you are highly satisfied with the quality services, amenities, and accommodations. However, if you have ever contemplated not making your timeshare payments that you promised to pay, you should know that you will encounter many severe consequences if you stop making your payments. In fact, all timeshare ownership contracts are legally binding contracts. Therefore, if you stop making your promised payments, then serious and severe repercussions will come your way. It doesn’t matter what financial hardships you are dealing with; you will suffer long-term if you stop making your payments along with potential foreclosure. To avoid potential issues, we have created a detailed list below for timeshare owners who are contemplating not making their timeshare payments. We hope it helps you make the most of your vacation club membership!
Do I Have to Pay My Mexico Timeshare Payment?
For starters, you should always stay in good standing and make your Mexico timeshare payments on time. No matter what financial hardships you are going through, serious repercussions will come your way if you don’t make your regular payments on time. Instead, take time to read about what happens if you default on your Mexico timeshare payment? First, try to reorganize your finances, so you don’t default on payments. If you do, you will immediately lose all your timeshare rights and ability to use your vacation unit if you don’t pay. Timeshare members that are not in good standing will not be able to use any of the amenities and services at the resort, which is why you decided to become a member in the first place. Also, your maintenance fees must be paid on time as well. If you don’t pay them, fees and interest are added to your bill.
Declining Credit Score
Secondly, if you didn’t already know, having a great credit score is very important for everyone. Anytime someone is wanting to purchase a home or new car and they don’t have the full amount to pay, they will need to apply for a loan. However, if you stop making your Mexico timeshare payments, then your credit score will decline. In fact, your debt could also be sold to a collection agency who can sue you which will further negatively affect your credit score. In addition, credit collection agencies are very persistent, and they will call you, your employer, and they can even come to your home and work. This will happen if you ignore any emails and phone calls from your Mexico timeshare provider when you have missed your payment. After you ignore all attempts, then you can even face foreclosure proceedings which have long term negative consequences, too.
Risk of Mexico Timeshare Cancellation Scams
Next, some timeshare members have become victims to Mexico timeshare cancellation scams. Fraudulent cancellation companies exist that will tell a timeshare member that they can cancel their timeshare membership for a fee. However, once they collect the hefty upfront fee, they disappear with their money without providing them with any service. The truth is, timeshare contracts can only be rescinded during the first few days after the membership contract is signed. Remember, the only time anyone can cancel their Mexico timeshare membership is during the rescission period or the cooling-off period, which is just a few days after you have signed your contract. Don’t become their next victim by always making your Mexico timeshare payments on time as promised. You deserve to provide a quality place and first class vacation experiences for your family and loved ones so you can create wonderful memories together.
As you can see, there are serious consequences that occur if you stop making your Mexico timeshare payments on time as promised. Don’t let that happen to you by always staying on top of your finances. Remember why you decided to join a wonderful Mexican vacation club, so you and your family could spend quality time together enjoying amazing vacations. At the Villa Group, we want to make sure that every club member always has an unforgettable vacation experience and enjoys every moment of their stay. Our spacious accommodations, luxurious amenities, and attentive staff members are some of the main reasons why our vacation club is one of the best in Mexico. Contact us today to sign up to attend a sales presentation to learn more to see if you are eligible to join our exclusive timeshare club. You and your family deserve to be pampered on vacation in paradise!