Time Share

My husband and I have owned time share at Lacabana Resort and Casino in Aruba for approx. 14 years. They charge annual maintenance fees which we have always paid on time. This year they have increased the maintenence fee,again, and are also charging $1,000.00 for renovations. The notice stated that there will be a 25% charge for all late payments.

Our employment status has changed and we cannot afford to pay the additional $1.000.00. We have tried to sell the time share with no success. We have also tried to contact Lacabana to see if we could donate the property back to them and then they would be free to resale it. We explained out financial situation but we have not received a response.

My questions is: If we don't send the $1,000.00 what repercussions can we expect? A possible law suit, damage to our credit record (which right now is excellent), etc. Please advise as we are desperate to be rid of this time share. We have not been able to even go to the resort for the past five years because of the high airline prices.

Your attention to this matter would be greatly appreciated.

Thank you,

Donna

Normally they will try to report it to your credit report but you can dispute it arguing you did not agree to increases etc.--have you ever used it? If so how much?