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If I owe money on a timeshare and I choose not to pay for it anymore can they pull it out of my banking account?

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cnmartinez1320 Joined: 12 Oct 2009 Posts: 1 1.30 Dollars($)	Posted: Mon Oct 12, 2009 2:56 pm    Post subject: If I owe money on a timeshare and I choose not to pay for it Like 0 Dislike 0 I owe silverleaf about 10,000 and they told me a lot of diffrent storys that were not true, so I decided not to pay for it anymore. Now i am wondering if they can pull it out my account or if the can hold my income taxes?
sunnyca2009 Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)	Posted: Mon Oct 12, 2009 8:00 pm    Post subject: Like 0 Dislike 0 If you owe money to any lender or any credit card, they cnacome after your assests and savings after a judement. They can also go after your savings and checkign account, inclduign wage garnishement
jenkin7 Joined: 04 Jun 2007 Posts: 4537 Location: Hawaii 728.43 Dollars($)	Posted: Mon Oct 12, 2009 11:51 pm    Post subject: Like 0 Dislike 0 Hi cn, Timeshares are treated just like other real estate properties. If you stop making the payments, your timeshare can be foreclosed. If the foreclosure auction does not pay off the loan in full, you can be sued for the deficiency. In that case, they can come after your accounts and can also report the foreclosure to the IRS and the credit bureaus.

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