voyager1
TUG Member
Since Tuggers know everything I'm hoping to find some information for a friend going through a tough time. He owns 2 timeshares free and clear. Both are at top quality resorts. 1 is in a prime location (U.S.) and 1 is RTU (Mexico).
Due to poor health and a job loss he is forced to file bankruptcy. He has both properties for sale at bargain basement (approximately half Ebay sales prices), but doesn't believe they will sell before the bankruptcy is final. He is prepared to lose the timeshare, but what worries him is what recourse the resorts may still have in regard to maintenance fees after the discharge.
He has asked his attorney who has said "don't worry about it". That's probably good advice, but if any wise Tuggers can offer any knowledge it may help alleviate a slight amount of his current stress.
Due to poor health and a job loss he is forced to file bankruptcy. He has both properties for sale at bargain basement (approximately half Ebay sales prices), but doesn't believe they will sell before the bankruptcy is final. He is prepared to lose the timeshare, but what worries him is what recourse the resorts may still have in regard to maintenance fees after the discharge.
He has asked his attorney who has said "don't worry about it". That's probably good advice, but if any wise Tuggers can offer any knowledge it may help alleviate a slight amount of his current stress.