Legal Question in Bankruptcy in Georgia

Keeping Your Timeshare in Georgia After Filing Chapter 13

Can you keep your timeshare in after you file? I have had it for 5 years now and am halfway through paying for it. Also, I really use it to promote my business and the debt is so little monthly. I was told I could not keep it unless I wanted to pay all of my unsecured debtors since I cramed down to pay them 0%. Is this true, or can I keep my timeshare?


Asked on 3/15/09, 2:11 pm

2 Answers from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: Keeping Your Timeshare in Georgia After Filing Chapter 13

That is a question for the lawyer handling your case, as he/she will know the necessary details. In general, it is certainly the case that paying for a time share over creditors is frowned upon - for obvious reasons.

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Answered on 3/15/09, 2:18 pm
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Re: Keeping Your Timeshare in Georgia After Filing Chapter 13

Ignoring that it is usually a horrible idea to keep a time share (the average time share is worth less than 10 cents on the dollar of the grossly inflated purchase price, and many are unsalable at any price, no one here can possibly answer you.

What you can and cannot keep depends on your schedules and your plan, as well as bankruptcy law. Your attorney is the only person who can answer you, and since you paid him for this advice, you should ask him.

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Answered on 3/15/09, 2:24 pm


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