Why are timeshare fees rising?

[charles]

I was doing fine with my timeshare and the maintenance fees that were being charged, but since the economy has taken a downturn, the fees for my resort have started to climb to the point that I can no longer afford my timeshare. Why is this happening? Are they trying to fleece us more when they know we are already down? I'd be fine if they had kept the fees the same, but now they expect another $200 which I don't have. What the hell is going one?

[timesharejunkie]

Basically, lots of people are defaulting on their timeshares because they can no longer afford them. When this happens, there aren't as many people paying the maintenance fees for the timeshare so those that are still paying have to pay more. It's a vicious cycle because raising the rates usually means more people default which means fees have to be raised again and so on and so on and so on.

[timeshareowner]

This is a huge problem for those of us that do own timeshares and like them. When you bought a timeshare, you signed a contract. If you didn't understand that contract, that is no excuse for not paying what you owe. When you don't pay, you not only hurt your credit, but you cause financial hardship to others that have timeshare units in the resort where yours is. I wish more people would think about this before simply stopping to make payments on their timeshares.