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Ch. 7 Filed. Now I wait (Timeshare Question)

New Member

Ch. 7 Filed. Now I wait (Timeshare Question)



I have been a lurker before filing and now I have actually filed. I filed on Ch. 7 8/15/19 and my 341 meeting is this coming Friday 9/20. I basically got ahead of myself with having too much credit and had a credit union start civil proceedings. 


I searched for timeshares but didn’t see too much. I have 3 deeded timeshares through Wyndham that are paid off other than maintenance. Anyone delt with timeshares before? They are not Disney. Myrtle Beach, Vegas, Lake Lure (NC)

My lawyer says I will need to give them up, however the trustee may not take them if there is no value.



Coastal Credit-$10k (Civil Action)

BOA Car loan $13k

Tmobile $130

Belk $267

Shell $520

Paypal MC $2356

Paypal $2374

Bestbuy $5532

Discount Tire $84

Amex $981

Citi $862

Amzaon $968


NCSECU Mortage $188k

BBT CL $292

Verizon Wireless $1200

Captial Chrysler-Voluntary repo $9k remained.

Misc medical $1500


I will be keeping the 1 car and the house but not reaffirming neither.


Looking to rebuild. I am 30 so hopefully buy time im 40 this will be gone in the wind! Already started banking with NFCU and hoping to practice what I read.

Chapter 7- 8/15/19
Message 1 of 5
Super Contributor

Re: Ch. 7 Filed. Now I wait (Timeshare Question)

Welcome to the foums. Your lawyer knows best with all the paperwork that was filed in the BK court. Every detail on how your district courts work. Your lawyer knows. You'll really know once the MOC happens. If theres value. The trustee could sell them to pay your debts depending on how much they are worth. Not blowing you off. Your lawyer already knows your file and what may/may not happen. Good Luck!

Homeowner since Sept 2020. My posts are JMHO. My siggy is not to brag. Just sharing my experiences after BK from learning here from rebuild to recovery from the @ 540's.
Message 2 of 5
Valued Contributor

Re: Ch. 7 Filed. Now I wait (Timeshare Question)

If the trustee thinks there is any value they will absolutely look at selling them.  Check out redweek resales and see what the resale value is.  Just get your head around them being sold (I doubt you can exempt the value of 3 of them) and then cross your fingers.  

Ch 7 Discharge 3/12/2018
Cap One VentureOne $3,500, CapOne Savor $5,300, Kohls $3,000, Comenity MC $4,900
Infiniti Financial Lease (Ends 11/2021
California Coast CU Auto Loan $36k 2.48%

Goal: New Mortgage 3/2022
Message 3 of 5
New Member

Re: Ch. 7 Filed. Now I wait (Timeshare Question)



I will not be upset if/when I lose them. They were gifted as a family was trying to get out after 17 years with them. They are the least of my worries! 

Chapter 7- 8/15/19
Message 4 of 5
Frequent Contributor

Re: Ch. 7 Filed. Now I wait (Timeshare Question)

If not exempt the Trustee will most likely sell the timeshares. Here is just one way such items are marketed:



Message 5 of 5
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