Blog on timeshare financing provided by Aaronson Law Group:
If you are buying a timeshare or vacation ownership plan through contractual installments, you’re almost certainly paying an exorbitant rate of interest. Even if you have perfect credit, it’s common to see these financed at the maximum legal rate, which in many states equates to 18%.
Why are these rates to high? For one simple reason: Defaults. And why are there so many defaults ? Again the answer is straight forward – because people eventually wake up and realize that they’re throwing good money after bad. So much so that they’re willing to ruin their credit rather than continue paying. And they will trash your credit if you do nothing to prevent this.
Our firm engages in credit protection measure while we confront your timeshare developer. As long as there exists a good faith legal dispute, we are able to invoke provisions in Title 15 of the federal code formally notating the existence of the dispute with each of the three major credit bureaus.
These legal issues may involve the pack of lies that they told during the sales pitch (“fraud in the inducement”, in legal jargon), lack of access ( “failure of consideration”), and especially misappropriated maintenance dues (“conversion”).
It you are unhappy with your vacation ownership, and intent on getting out of it, don’t risk ruining your credit. Please call free of charge to discuss contract cancellation, in addition to credit protection.
Learn More about timeshare financing from the Timeshare Lawyer who has you in mind at www.aaronsonlawgroup.com
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