Submitted by Law Office Blogger on Thu, 07/11/2024 - 6:26pm
Can you get rid of "Time Shares" by filing bankruptcy protection? Yes, it is possible to address timeshare obligations through bankruptcy, but the specific outcome depends on the type of bankruptcy filed and the details of the timeshare contract.
Chapter 7 Bankruptcy:
Chapter 13 Bankruptcy:
Even if you surrender the timeshare, you might still be responsible for some maintenance fees until the lender officially forecloses and transfers ownership. It's crucial to consult with a bankruptcy attorney to discuss your specific situation and determine the best course of action. They can guide you through the process and help you understand the potential outcomes and risks. Bankruptcy can be a complex process, and the treatment of timeshares will depend on the specifics of your situation, so professional advice is essential.
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