Time Share and ''Default on the Contract''

Queensland Australia -- Hi, I have a question to do with time share. We were doing a road trip across america. We were in Sedona Arizona and we were given a free night at the Sedona Pines Resort as long as we sat through a presentation. We thought this was ok, but little did we know the amout of pressure selling that would go on to sell us a time share, so much so that they were not going to let us go without someting. We said no to the anual points system so they tepted us with a by-annual offer that someone had defaulted on. After some really hard work on the salesman's side, he managed to pressure us into the deal. We left and continued our trip. I was still very uncomfortable. We didn't think much about it as we were enjoying your beautiful country. 4 weeks later when we got back to Australia we sat down and had a look at what we had done, we suddenly realized there was no way we could afford this time share as we are low income workers and to take out a loan at 60yrs the ratio of age and workability would take me about twenty yrs to pay off. The $9000 US would cost us about $17,000 AU the maintenance $400 US about $700 AU, and all the bonus offers were out of America, no use to us. So as soon as we realised this we contacted them and asked if they could cancell the deal. It was placed in dispute mode (frozen) We had signed all the papers and paid $1080 US deposit. They said they could cancel but we would have to pay an additional $3500 US about $6000 AU. Due to them paying the salesman already and other fees. We pleaded on the grounds of massive pressure selling, and that of our circumstances of being in a strange country on holidays and maybe we could have had our seven days start when we got home so we had to time to read the docs. I know that i could have walked away and we also had seven days to pull out. But the pressure was that intense i felt i had to buy, they wouldn't let me walk out, and what seven days, it was gone before we knew what hit us, due to our travelling. Now the question is what are the circumstances if we do what the previous person did, ''Default on the contract.''

The question is what are the circumstances if we do what the previous person did, ''Default on the contract.''