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Rebuilding Your Credit After A Timeshare Cancellation

credit score

May 25, 2020 – by Primo Management Group

credit score

Timeshares are not really something that you want to get into as an investor, and one of the biggest problems people see when they get out of their agreements is a lower credit score. This can be a problem when you want to buy a car or home and there are other issues that come along with lower scores. It’s easy to knock your numbers down significantly, especially if you are battling the resorts and refuse to pay the fees and mortgage payments that they hit you with every year. Even when you finally get away from the agreement, you now need to work on rebuilding your savings as well as your credit score. Savings will come with the removal of related expenses for your timeshare, but here are some tips that will you rebuild your score.

Don’t Pay The Minimum

It doesn’t matter what you are paying, but if you only pay the minimum, you are not building your score up as fast as you would if you paid an extra amount towards the principle.

Balance Your Debts

What do you owe monthly on each month? Make a list and identify what is draining your numbers and what can be either stopped or paid off.

Don’t Pay A Lump Sum

If you owe $5,000 on your credit card and you have that in your savings, don’t pay it off. Pay off a large amount to lower the costs but keep paying monthly as it builds your score over time.

Don’t Miss Payments  

One of the easiest ways to start seeing your score get lowered is by missing monthly payments or paying late. You need to get on a routine so that you pay by the due date each month and do not fall behind.

Yes, it takes time to repair your numbers but it’s worth doing, especially if you plan on making big purchases down the road. Don’t forget to look for ways to improve your score in the short-term but don’t fall for any places that do not offer reliable results.

These tips may take some time to pay dividends, but a higher credit score can save you thousands of dollars a year, so it’s worth putting in the effort to generate faster results without going overboard.

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Relieve Yourself of the Unwanted Timeshare Burden

Your information is 100% secure and encrypted. We will never sell or share your information with anyone.

Frequently Asked Questions ?

How does PMG get me out of my timeshare contract?

PMG is not a resale, transfer, or donation company. We are consumer advocates—we help to negotiate the release of your timeshare contract obligation. We do not buy, sell, or rent your timeshare. Simply put, we help you to get out of your timeshare contract forever.

How long does the process usually take?

Usually less than 12 months, but it all depends on your situation. Let us help you. Speak to your advisor about the time, and what delays the resorts have put into place to prevent timeshare owners from departing their ownership. If you have a mortgage or past due maintenance fee, the process takes more time.

How much is my timeshare worth?

This is probably going to hurt, but whether you paid $5,000 or $50,000 for your timeshare, the IRS values all timeshares as worthless investments. In addition, that timeshare would have negative value due to the annual maintenance fee bill which compounds year after year. That is until PMG helps you cancel your timeshare.

Can I use your service if I still have a balance owed on my mortgage?

Yes. Whether you bought your timeshare 20 days ago or 20 years ago, PMG has a solution for you and is here to help.

Will my name be off the timeshare?

Yes! Permanently! GUARANTEED!

In addition to getting me out of my timeshare, can you recover the money I’ve already spent on mortgage payments and maintenance fees?

While we are able to recover money in rare cases, beware of any timeshare cancellation company that entices you with the promise of fund recovery. The truth is, the resorts are loath to give back the money they’ve already taken for timeshares.

Are your consumer advocates really “consumer advocates”, or is that just a fancy word for salesperson?

Because most of our clients have had their trust betrayed by timeshare salespeople, we understand how some consumers can become a bit jaded. When you call us for a consultation, that’s exactly what you get, a consultation. At PMG, our job is not to sell you; our job is to help you get out of your timeshare. Which is why we have numerous 5-star reviews and an “A” (excellent) rating from the BCA.

Why should I choose PMG to get me out of my timeshare?

We go above and beyond for our customers by helping to protect you, and have the best success rate in the industry, rated 5-stars by clients. We pride ourselves on providing our customers with the best customer service in the industry. When you contact our company, you speak to a live person, not an automated system or voicemail. We offer a 100% money back guarantee, and we can provide documented proof of our success in helping customers just like you.

What happens after I sign up with you? Will I be apprised of your progress?

At PMG, we pride ourselves on our hands-on, boutique-style customer service, so every new client will work with our expert, experienced team whose job is to keep you in the loop throughout the entire cancellation process. We are always just a phone call away.

How much is your fee?

Not all timeshare experiences are created equal. Some are more complicated than others, and every situation is different. That’s why our trained timeshare elimination consultants will ask you a series of questions designed to determine exactly what needs to be done to terminate your timeshare, how long it will take, and how they can best advocate for you. We will always seek the most cost-effective route for you.

What if I still have more questions?

Canceling a timeshare contract is not a cookie cutter process. With each situation being unique, once you complete the form below an experienced consumer advocate will call you today to discuss your options.