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| | |-+  Saddled with timeshare debt until the age of 111
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Author Topic: Saddled with timeshare debt until the age of 111  (Read 5158 times)
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Date Registered: September 28, 2010, 11:53:26 am
Posts: 62

« on: October 15, 2012, 08:57:40 am »

W.C.writes: My wife and I have owned a timeshare apartment in Nerja, Spain, since 1985. In recent years we have asked the management company to rent it out, and until two years ago rents covered the annual maintenance fees.

When rents failed to cover charges, I offered to waive ownership and not claim our right to 75 per cent of any proceeds when the timeshare is resold after our 30-year lease expires.

The company did not agree. It has moved us to a more expensive apartment without our written consent, has extended our lease to the year 2058 and hired debt collectors to take us to court.

We are now saddled with rising debts until we are 111 years old.

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