Our headquarters are located in Central Florida. PMG works tirelessly helping timeshare owners across the US. We are consumer advocates with 5 star reviews online, and an ‘A’ rating from the BCA.
Timeshare credit damage is a common problem. Unfortunately, timeshare ownership can damage your credit score in many ways. But there’s hope! Consumers are protected by the Fair Credit Reporting Act (FCRA). And it is possible to repair timeshare credit damage.
A credit score is a number generated by a credit reporting bureau that reflects how likely you are to repay debt. The credit bureaus take information on your debt, payment history, and other factors and use them to generate a number between 300 and 850. And then creditors use your score to decide if you’re a good risk. The higher your score, the more likely you are to pay your debts. And therefore, the easier it will be for you to get credit.
The three major reporting bureaus, Experian, Transunion and Equifax, each use a variety of factors to determine your score. They consider things like payment history, how much debt you have, how much credit you have available, how many inquiries have been made into your credit, the types of loans you have, and how long you’ve had each loan.
Timeshare ownership can hurt your credit in a few different ways. First, if you finance your timeshare, then your loan and the amount will be factored into your credit score. And since it will be a new account, that affects the age of your credit. However, the impact of those factors will be small and will diminish over time. Plus payments that are reported and made on time will eventually improve your score. The real damage occurs if you have late payments or don’t pay at all. Late and missed payments will impact your credit score.
Just like a missed or late payment damages your score, late or missed maintenance fees and special assessments can also bring your score down. And most timeshare companies don’t report on-time payments, so you won’t see any benefit to making payments on time.
The worst timeshare credit damage occurs if you default on your timeshare as a result of missed loan payments or unpaid fees. Foreclosure will have a significant impact and stay on your credit report for 7 years.
In addition to the damage done by late and missed payments, timeshares can also damage your credit through improper reporting. And unfortunately, this is not uncommon.
Luckily, the Fair Credit Report Act (FCRA) protects consumers like you. According to the Federal Trade Commission, the FCRA “Promotes the accuracy, fairness, and privacy of information in the files of consumer reporting agencies.” Here are some of the ways the FCRA protects you:
Among other things, a low credit score makes it hard to secure credit and can interfere with your ability to rent an apartment. So, it’s in your best interest to keep your score as high as possible. Here’s how:
Relieve Yourself of the Unwanted Timeshare Burden
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.
Usually less than 12 months, but it all depends on your situation. If your timeshare is free and clear with no mortgage, then the process may only take 3-9 months.
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.
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.
Yes. Whether you bought your timeshare 20 days ago or 20 years ago, PMG has a solution for you and is here to help.
Yes! Permanently! GUARANTEED!
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, timeshares are loath to give back the money they’ve already taken.
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.
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 go above and beyond for our customers by helping you to protect your credit and even repair your credit if needed. We offer a 100% money back guarantee, and we can provide documented proof of our success in helping customers just like you.
At PMG, we pride ourselves on our hands-on, boutique-style customer service, so every new client is assigned a case manager whose job is to keep you in the loop throughout the entire cancellation process. Your case manager is always just a phone call away.
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.
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.
Our headquarters are located in Central Florida. PMG works tirelessly helping timeshare owners across the US. We are consumer advocates with 5 star reviews online, and an ‘A’ rating from the BCA.