Do you want to enjoy regular vacations in Mexico? If so, you should know that there are so many benefits that come with being a timeshare owner in Mexico, in case you weren’t aware. Firstly, having the guarantee that your accommodations, amenities, and services will always be the best is one of the top perks that vacation club members love. Also, it’s great knowing that you save money in the long run because timeshare owners prepay for future travel at a locked in low rate. A timeshare owner knows that there are risks that will come your way if you don’t pay your timeshare dues and maintenance fees. The financial commitments are clearly listed in your timeshare membership contract that you signed and it is a legally binding contract. You don’t want to miss any payments and bring financial stress your way. Meanwhile, keep reading below to learn what happens if you don’t pay your timeshare.
Timeshare Ownership in Mexico Info
To start with, timeshare ownership in Mexico in 2023 and 2024 is a smart investment. However, it is very important that you select a genuine provider that has an excellent reputation, such as the Garza Blanca Resorts, that is owned by Tafer Hotels & Resorts. They provide their vacation club members with quality accommodations and world class amenities at all times. Plus, vacation club members also save money over time with their timeshare ownership program called the Garza Blanca Residence Club as they use a points-based system that locks in the low rate for future vacations. To join, timeshare owners will sign a membership contract, pay the initial deposit, and pay their dues and maintenance fees. The dues and maintenance fees will keep your vacation unit and the resort property in wonderful condition all year. That way, everytime you vacation you will find your vacation unit and resort looking great.
Defaulting a Timeshare Contract
Next, all timeshare owners will sign a legally binding contract that states they will pay the regular payments so they can use their vacation unit for a set time each year. The regular dues and maintenance fees must always be paid on time, too. If you break your contract and default on making your payments as promised, you will face significant financial consequences. For example, there will be long-term consequences that you want to avoid, and you can as long as you keep your timeshare payments made on time. In addition, you could ruin your good credit score, face foreclosure, and many more difficult consequences. Plus, you will be unable to use your vacation unit if you are not in good standing with your timeshare payments. Enjoying wonderful vacations and creating new memories with loved ones is one of the main reasons to buy a timeshare so it just doesn’t make sense to risk defaulting.
Protecting Your Credit Score
Do you know having a good credit score is very important? It is especially important if you want to purchase a new home, car, furniture, or get a personal loan. If you need to borrow money, your credit score will be evaluated to determine if you are eligible to receive a loan for the money you are asking for. You earn a good credit score by always paying your timeshare payments and other payments on time, but if you don’t make payments as promised then your credit score will be affected negatively. You could be denied a loan if your credit score is bad. Instead, always stay on top of your timeshare payments so your credit score will always be great. If you don’t make your timeshare payments on time, then you may even have to deal with credit collectors or collection agencies which can be very embarrassing and stressful.
You have just learned what happens if you don’t pay your timeshare payments on time as promised. You should always honor your obligations as a timeshare owner in Mexico. If you don’t, then you are risking your credit score, money, and adding stress to your life. If you are wanting to invest in a reputable timeshare in Mexico, contact Garza Blanca Resorts. They are a reputable timeshare provider that has an exclusive vacation club that is operated by the prestigious Tafer Hotels & Resorts. They have luxury resorts in Mexico’s top coastal destinations including Puerto Vallarta, Cancun, and Cabo San Lucas. Garza Blanca timeshare reviews show that members absolutely love the high-end accommodations with stunning ocean views, fine finishes, and elegant furnishing. Plus, amenities are world class and leave nothing to be desired. Book a dream vacation to Mexico and surprise your family with a fabulous getaway to paradise!