How not to let that timeshare wreck your credit

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How not to let that timeshare wreck your credit

Interview of Michael Finn for CreditCardGuide.com July 15, 2015
Article by Allie Johnson

You fell for the sales pitch for the luxury timeshare on the beach. Now you’re in over your head – and not in balmy ocean water. Don’t panic: you might be able to get out without ruining your credit.

First, know you’re not the first person to succumb to a sunny sales pitch. Many who buy timeshares end up regretting the purchase, says Michael Finn, a consumer attorney in Florida who handles timeshare issues.

When you buy directly from a resort, a timeshare can cost $20,000 to $40,000 or more – an amount some consumers finance with a loan, Finn says.

 

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