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Last edited by lostinnola; 04-12-2010, 05:39 PM. -
People file BK because they can't afford to pay their debt. Buying a timeshare will look very poorly imo. I would think the Trustee would tear you a new one. But thats just my opinion. -
Definitely buying a timeshare right before filing for bankruptcy would not be looked upon well by a bankruptcy trustee. If you cannot afford to pay your creditors, the last thing that the trustee should see you attempting to buy is a luxury vacation timeshare. Timeshares in most instances have to be surrendered in bankruptcy where payment is still due on the timeshare.deleted by moderatorComment
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The best way to go with a timeshare is to save up your money and buy a used one in CASH. We spent nearly $15k on our timeshare (including interest). We could get the same timeshare on ebay for around $600 after paying all fees! EXACT same timeshare with the exact same benefits. It's value is listed on our schedule b at $100!
I think the OP is nearing discharge, so wait until you've discharged, and buy one off of ebay with cash if you want to.
GL!Filed Chapter 13 on 2-28-10. 341 completed 4/14/10. Confirmed 5/14/10. Lien strip granted 2/2/11
0% payback to unsecured creditors, 56 payments down, 4 to go....Comment
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