Was this timeshare from one of those “free trip” pitches? Because wow, they’re hard to get out of. You may need help from a professional service to manage this whole situation.
Oli said:
Was this timeshare from one of those “free trip” pitches? Because wow, they’re hard to get out of. You may need help from a professional service to manage this whole situation.
Wait, what exactly is a timeshare? I looked it up, but it’s still not making sense to me.
Oli said:
Was this timeshare from one of those “free trip” pitches? Because wow, they’re hard to get out of. You may need help from a professional service to manage this whole situation.
Honestly thought nobody bought timeshares anymore since everyone knows they’re a scam.
Could you share your annual income? And if the loan you co-signed is still current, you could try getting your name removed. As for the timeshare… ouch. Bankruptcy won’t solve everything, so talking with a financial advisor might help.
@Taj
The other co-signer is in prison.
Harley said:
@Taj
The other co-signer is in prison.
Wait… they needed two people to get this loan? That’s usually a red flag.
Harley said:
@Taj
The other co-signer is in prison.
Wait… they needed two people to get this loan? That’s usually a red flag.
No, we both signed as co-signers, one of us on the hook for the other.
@Harley
Gotcha. Well, sounds like this debt will land on you since they’re not available.
I was in a similar spot years ago. Check out debt management programs with non-profit groups like Greenpath. They were really helpful for me.
Taylor said:
I was in a similar spot years ago. Check out debt management programs with non-profit groups like Greenpath. They were really helpful for me.
Wish I’d known about Greenpath before signing with Beyond Financial.
@Luca
There are others out there too, hope Beyond Financial is working well for you.
Taylor said:
@Luca
There are others out there too, hope Beyond Financial is working well for you.
Just started a couple of months ago, but they aren’t non-profit.
Taylor said:
I was in a similar spot years ago. Check out debt management programs with non-profit groups like Greenpath. They were really helpful for me.
Is Greenpath a debt settlement service, or how does it work?
Have you tried a non-profit debt management company? They might help reduce your credit card interest. The National Foundation for Credit Counseling (NFCC) and the Financial Counseling Association of America (FCAA) are two options worth looking into.
You might consider debt consolidation or even bankruptcy. In Canada, credit card companies may offer a payment plan if you explain your situation.
You’re still young, don’t let this drag you down. Bankruptcy could clear things up for you, but be sure to learn solid money management habits along the way. That reset is a chance to start fresh.
Reese said:
You’re still young, don’t let this drag you down. Bankruptcy could clear things up for you, but be sure to learn solid money management habits along the way. That reset is a chance to start fresh.
I’m about to turn 26 in two weeks.
@Harley
All the more reason to face it now and focus on rebuilding. Better to deal with it at 26 than later on!
A few hundred bucks here and there would add up over time. My advice? Tighten your spending instead of looking for quick cash. It’s a long game. Maybe reach out to your bank for a lower-interest loan to help with the credit card debt.
My wife and I had a similar situation—lots of credit card and loan debt. We finally got out of our timeshare after a long process, then used a debt consolidation company. It took years, but we finally dug ourselves out. Stay away from co-signing loans!