Dear Liz: I have tried to sell my time share on different occasions. If I stop paying my assessments and taxes because I do not wish to use my time share any more, will that be detrimental to my credit?
Answer: Typically, your delinquent account will be turned over to a collection agency. Not only will your credit scores take a hit, but you may be subject to nasty collection calls as well.
If you still owe money on the loan you used to buy the time share, though, giving it away is probably not an option unless you’re able to pay off the loan first.