What can happen to us if we refuse to pay 2 credit cards beside ruining our credit.

I'm sorry to tell you this, but the negative impact on your credit is probably the least of your problems. It is not clear to me whether you refused to pay the time share company, or refused to pay the credit card company after it honored the charges.  Either way, you will be sued for breach of contract.  If you are sued by the time share company, you can attempt to raise the defense of fraud.  It is very difficult to evaluate the merits of this defense from your question, but to the extent that you relied on anything orally that is contradicted by your written agreement, you will have a very tough case, as the writing will control.  For example, if the sales rep told you that the company would pay off your existing timeshare, but the written agreement made no mention of it but did provide, as most contracts do, that the writing constituted the full agreement between the parties, you would have a very tough case.  If you are sued by the credit card company, however, I see no defense, as I believe (but you should look at your agreement to make sure) that the contract with the credit card company will provide that if there is a dispute with a merchant which can't be resolved, it may pay the merchant, you would then have to repay the credit card company and make a claim against the merchant. If you lose your case, a judgment will be entered against you for the amount of the debt, plus interest, court costs (minimal) and possibly (if the contract on which you are sued provides for them, as the credit card contract almost certainly does) attorneys' fees.  If you don't pay the judgment, the creditor will try to collect by garnishing your wages and/or other sources of income, and/or selling your assets. I have assumed in this response that U.S. law applies, but it is entirely possible that the contract you signed with the time share company provides that D.R. law applies, and I don't know if it is different from U.S. law.