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Saving a timeshare?

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    Saving a timeshare?

    We're in NE PA which is considered a suburb of NJ for bk exemption purposes as per my lawyer.

    We're surrendering the house and one car (too much value). That only leaves one car with a value of $8,000 to save.

    Since the lawyer said we could save $20K of assets each can I ask him to save my Disney time share?

    I don't have anything else to save and it seems like I'd be wasting my exemption otherwise.

    Does anyone have any experience with timeshares and their treatment in bk?
    over $100K cc debt,$20K taxes,$332K mortgages/value $190K,surrendered
    Confirmed, $801/month 56 down,4 to go

    #2
    You can try. But the problem isn't the timeshare itself, but the monthly dues/maintenance fee on the timeshare that the trustee objects with. Another poster had this same situation and he couldn't keep his.

    I wish you the best in trying to keep it. Just remember after everything is all settled...you can get another one.

    Good luck.
    Filed - 12/24/08 (Merry Christmas Credit Cards!)
    341 - 2/5/09
    Confirmation - 3/13/09....Happy Dance!!!

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