Getting rid of your timeshare is complex and often lasts for a significant period of time. When you hear about how long and difficult the process is, you may be tempted just to walk away from your timeshare and leave it alone altogether. In fact, we are often asked if this is a practical option for people.
Like with any other financial obligation, you can walk away from your timeshare--as long as you are willing to accept the consequences. If you are comfortable with the repercussions a foreclosure and a tarnished credit score bring, then that is your decision to make. Remember this, though--if your timeshare is a deeded property, then you have a permanent debt in taxes and maintenance fees attached to your estate. Bankruptcy laws have also changed over the years, making it more and more difficult for you just to walk away from this debt.
Since those outcomes are less than pleasing, why not get out of your timeshare the correct way? To accomplish this, you need an exit strategy. An exit strategy helps you avoid a horrific credit score and too much debt--a far more desirable outcome for you and your family! Here is how you can get started on your exit strategy.