What to Do with the Dreaded Timeshare?

By Karin N. Amyx, Staff Attorney to the Trustee Carl Davis (Wichita, KS)

To me, the word “timeshare” conjures up images of a dark conference room at a resort hotel where unwitting tourists are being goaded into signing usury contracts in exchange for a free meal ticket at the buffet.

But what is a timeshare? And how do you deal with them in bankruptcy? Is it an executory contract? A secured debt? What do you own and how do you keep it . . . or get rid of it?

A timeshare is a vacation property arrangement that lets the owner . . .

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