My mother in law bought a time share approx 13-14 years ago. Was not able to keep up on the payments and rather than trying to sell it at the time she just stopped making payments. I became aware of the situation 2 years ago when I began helping her with her finances. She has not made payments on it in over 10 years. She is on a fixed income,has a chronic medical condition that requires expensive monthly medications and does not have the 11,000.00 that they are saying she owes. I dont know what to do to help her. As you can imagine, it is difficult having collection agencies constantly calling.
It sounds as it the statute of limitaions may have run and in any event it appears she may be judgment proof and not subject to any real santcions that would affect her quality of life.
You will need to consult with a consumer protection lawyer locally.
1. Start keeping a detailed log of all calls and letters. You should also demand in writing all communications from creditors is in writing.
2. Do not give them any personal information because that is how collectors decide on which accounts to recommend suing.
3. If you are going to make payments use money orders and not personal checks or “check by phone” because if they find a bank account the collector will be more likely recommend a lawsuit the their legal department.
4. All collections are negotiable.
If you are going to settle mark the check “settled-in-full” at the very top back of the check and include a letter explaining you are offering a settlement, keep copies of everything
5. Get written confirmation of any payment plan the agency will accept.
I do not practice in your state and you will need to consult with a local lawyer for protection under your state law.
I have pasted a link to the FDPCA to help you with your federal rights;
I hope this information and generic advice is helpful.