We have a timeshare that we included in our chapter 7 bankruptcy and now the bankruptcy is discharged and case closed. The timeshare wants us to deed back the property to them or they will do in rem foreclosure. Can such an in rem foreclosure affect my credit rating? Also the timeshare company sent a post petition refund payment to the chapter 7 trustee even though the case was discharged and closed and the trustee dismissed! Do you think I would be successful in negotiating deeding the timeshare back in return for removal of all negative reporting of it on my credit reports? Any other ideas would be appreciated.
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They can forclose and in theory it shouldn't affect you. But you may be able to negotiate something better to save them the cost. They will certainly be able to get the property if they have a lien. Maybe you can use the unit for one more time if you give it back?
Who knows what you can get, but all they can say is no, go for it!
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