Can defaulting on timeshare maintenance fees ruin our credit?

[nicknbob]

My husband and I are old-fashioned and only buy when we can pay cash. Our credit rating has to be great. Since 1982, we have owned and paid maintenance, when due, on a timeshare week in February in Gulf Shores, Alabama. Maintenance keeps going up, and we have suffered financial losses due to a hurricane's havoc to our home in 2004. Will defaulting ruin our credit? Can the timeshare put a lien on our home?

 

[seniorjudge]

Q: Will defaulting ruin our credit?

A: It could.


Q: Can the timeshare put a lien on our home?

A: If they get a judgment against you, they can.