Legal Question in Real Estate Law in Florida
defaulting on timeshare
I live in Canada and purchased a timeshare in the States. If I stop payment and they foreclose, does that affect my credit rating in Canada or my ability to visit the States? Thanks
2 Answers from Attorneys
Re: defaulting on timeshare
1. yes
2. no
Re: defaulting on timeshare
I've never seen a US creditor report a debt to a Canadian credit reporting agency, so it's extremely unlikely that your Canadian credit will be affected. In fact, many Canadians complain that their good credit does not follow them into the US, often barring them from purchasing property or obtaining credit here. Europeans have the same complaint. Rarely do creditors and credit reporting agencies cross international lines.
Even if your Canadian credit becomes poor, US Immigration and Border Patrol does not forbid visitors based on credit.
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