timeshare question

[geye]

I asked this on the exemptions board several days ago, but got no hits. If there's a mod that wants to merge these, feel free and thanks

We have a timeshare with a mortgage. It has a few thousand in equity, but we can exempt it.

We'd like to reaffirm the debt. What I want to know is..can the trustee dismiss our case saying that if we surrender the timeshare it would free up the payments for debt? The payment with dues is $344/month.

[backtoschool]

A timeshare is a discretionary expense. It only takes about $150 a month to throw you into a chapter 13. the trustee can say that that $340 a month can be used to fund a chapter 13.

[HHM]

Although, if it is a mortgage, then it is a secured debt and can be listed on the means test.

[momofthree]

I think this will be treated much as an RV or a boat payment. If it was paid off it would be a different story, but you'll have a difficult time justifying why you should keep this luxury item rather than paying towards your unsecured debts.

However, if your allowable expenses are far enough in the negative, it probably won't matter, it just depends on your individual circumstances...

[geye]

HHM I don't understand what listing it on the means test has to do with whether they can say I should surrender it? (or doesn't it?)
It IS a secured debt with a recorded deed and mortgage.

How DO they handle boats and RVs? Or a second car with a payment if only one spouse works? Or second homes, or rentals, etc..

This plays into my asking about groceries. I'm not so positive it's in our best interest to keep the timeshare. DH doesn't agree (hence the "we" want to reaffirm LOL). But if he knows he could be risking the bankruptcy by choosing to reaffirm this and have a schedule that shows he can afford it...well, maybe it will help him change his mind