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cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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Another question... my husband and I are paying on a joint

Customer Question

Another question... my husband and I are paying on a joint timeshare in both of our names. What happens with this in a Chapter 13... do I list it?

Optional Information:
State/Country relating to question: West Virginia
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 5 years ago.
Hi JACustomer,
Is your timeshare payment for the timeshare mortgage or for the maintenance - or both?
Customer: replied 5 years ago.
Timeshare mortgage and biyearly maintenance fees.
Expert:  cfortunato replied 5 years ago.

Last questions:

Do you want to keep the timeshare?

If yes, how much are the maintenance fees?

Customer: replied 5 years ago.
I want to discard of the timeshare
Expert:  cfortunato replied 5 years ago.

Then you would list the mortgage company as a secured creditor in your Bankruptcy petition, and you would not include the mortgage payment as part of your plan payment or your monthly expenses.

This way the balance of the mortgage will be discharged with the rest of your debt.

You can also have your obligation to pay the maintenance fees discharged - if there is no HOA involved.


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Thank you.