My Timeshare and My Credit Score

Will Canceling My Timeshare Hurt My Credit Score?

A major concern for people that are looking into cancelling their timeshare contract is whether or not doing so will affect their credit score.  That is a valid concern given how important your credit score is for your daily financial life.  The good news is that if your timeshare cancellation is handled properly there should not be any affect on your credit score.

In order for something to negatively affect your credit score it has to be reported to one or more of the credit bureaus.  In this case, in order for your decision to get out of your timeshare contract to cause a drop in your credit score the timeshare company would have to report a problem with your payments to the credit bureau.  This is simply not a typical scenario.

Of course, during the process of cancelling your timeshare the fact that your credit will not be affected can be guaranteed in several different ways. Give us a call today and be sure to ask what your options are for both cancelling your timeshare and protecting your credit.