Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
I cannot give you legal advice - I can only give you legal information. I can tell you that it is highly unlikely that you will be able to sell the timeshare, as there is a glut in that market. There are many more owners trying to sell than there are people who want to buy. And you are correct that there are many scammers who take money upfront, and don't do anything. Some will even say they already have a buyer, which is a lie, because a reputable timeshare sales company would not take any money until the timeshare is actually sold - at the closing.
If you qualify for Bankruptcy (if your income is low enough), that is - in my opinion - the best solution for anyone who is struggling to pay the bills.
How do we file for bankruptcy, we never been in any situation like this but how does this work in filing for that? Any fee to pay also?